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News Now

CU System
CU receives AHP grant from Fed Bank-Atlanta
ATLANTA (1/20/09)--A credit union is among 85 financial institutions who received more than $43 million from the Federal Home Loan Bank (FHLB) of Atlanta to fund 85 affordable housing projects in 10 states. The grants are offered from the bank’s Affordable Housing Program, which develops owner-occupied and rental housing for very low-, low- and moderate-income families. FHLB Atlanta offers the grants annually. Suncoast Schools FCU, Tampa, Fla., received $600,000 to construct 60 homes in the Hidden Creek at Westlake subdivision. The homes will be built using the USDA Mutual Self-Help Housing Program model. Residents will contribute 600 hours of sweat-equity labor to construct the homes in lieu of a down payment. The FHLB awards ranged from $30,000 to $1 million and were granted to financial institutions in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina and Virginia.


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