North Carolina Supports Minority MortgageLending

Register now

RALEIGH, N.C. - (07/25/06) -- The state had agreed to provide atotal of $1.5 million in grants to help finance mortgage programsat two minority credit unions. The money awarded to LatinoCommunity CU and Generations CU will help the two communitydevelopment credit unions to build equity to support lending foraffordable mortgages. The funding will help both urban and ruralareas because both credit unions have a statewide presence. Thefunding is projected to help as many as 500 families obtainmortgages over the next five years.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER