CUSO Helps Replace DilapidatedHousing

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EL PASO, Texas - (10/13/04) -- The Affordable Housing CUSO hasjoined several other community groups in a project that will helphomeowners secure the deed to 22 rundown trailer homes and buildnew homes in their place. The coalition, known as the El PasoEmpowerment Zone, recently received an $800,00 grant from the U.S.Department of Housing and Urban Development that will be used tosecure the deeds on the property. The El Paso Collaborative,another partner in the coalition, will provide interim financing,and the CUSO, comprised of eight area credit unions, will providepermanent financing, as well s financial literacy training and helpin securing the deeds, according to Larry Garcia, head of the CUSO.Fannie Mae has committed to buying all of the loans. The Universityof Texas El Paso has also agreed to provide each homeowner with a$700 grant to provide energy efficiency in the new homes. "There'sa lot of groups that are part of this," Garcia told The CreditUnion Journal. CUSO members are: West Texas CU, GECU, Ft. BlissFCU, Mountain Star FCU, Golden Key FCU, El Paso Area Teachers FCU,El Paso Employees FCU and El Paso Bell FCU.

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