SECU Buys Historic Lowe's Grove Rural CU Site
RALEIGH, N.C.-As credit unions mark their 100th birthday in the U.S., State Employees CU (SECU) has purchased land for a new branch that is part of this state's CU history. SECU will build the new branch at historic Lowe's Grove Rural CU site in Durham, N.C. Lowe's Grove Rural CU opened on Jan. 20, 1916 and was the first rural CU in the South. A local banker, John Sprunt Hill, who had become interested in the concept of cooperative credit while part of a commission appointed by President Woodrow Wilson, helped to organize the CU. A historic landmark, which SECU helped make possible, is already in place to signify the site.
Community Center Opens In Upper 9th Ward NEW ORLEANS, La.-A Shared Initiative Inc. (ASII), the St. Claude community and community partners celebrated the grand opening of the Clifford N. Rosenthal Community Resource Center in the St. Claude neighborhood of the Upper Ninth Ward.
The community center has been a long-term project in the Upper Ninth Ward since Hurricane Katrina, and the non-profit plans to use the space to host ASII's homebuyer education class and provide one-on-one credit counseling. Future plans include a branch for ASI FCU, a partner of ASII, with additional space available for lease to other community service organizations.
High Desert Puts Headquarters On The Market APPLE VALLEY, Calif.-High Desert FCU, which has been operating under NCUA conservatorship since October, has put its new headquarters building on the market for less than it cost to build.
The $110-million credit union, which reported a whopping $13-million first-quarter loss, has listed the 24,000 square-foot building at $5.2 million, $800,000 less than it cost to build. The credit union completed the office last September, but never moved in.
High Desert, $190 million just two years ago, is searching for a merger partner, with the help of NCUA.
