DURHAM, N.C. – The Volunteers of America of the Carolinas dedicated a new transitional housing complex to benefit homeless veterans, a $2.7 million project financed by State Employees CU.
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The credit union provided half of the permanent financing, a 30-year fixed-rate $655,000 loan at 3.75% financing through its SECU Foundation. The other half was provided by Community Investment Corp. of North Carolina, a group of North Carolina banks that will receive credit under the Community Reinvestment Act for their contribution.
The project provides 24 rental units for homeless veterans served by the VA Hospital in Durham.
Participants in the project also include the North Carolina Housing Finance Agency, the VA and the city of Durham.
