RALEIGH, N.C. – State Employees’ CU said it has received a grant from the North Carolina Department of Labor that will allow it to offer Individual Development Accounts in eastern North Carolina through the River City Community Development Corporation.
The River City Community Development Corporation program will allow residents of Chowan, Gates, Pasquotank, Dare, Camden, Currituck, and Perquimans counties to save in IDAs and receive matching funds, enabling them to make a down payment on a home. For every dollar saved up to a maximum of $1,000, funds will be matched on a 2:1 ratio through the grant project.
SECU will serve as the primary financial institution for the program, opening IDAs for its current and potential members who may qualify.
