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CU System
SECU to assist states teachers with housing
RALEIGH, N.C. (12/17/07)--The State Employees’ CU Foundation has agreed to provide a $2.25 million interest-free loan to help build a new affordable housing complex to benefit Dare County, N.C.- area teachers. The deal was finalized this week (Virginian-Pilot (Dec. 14). The Dare Education Foundation applied for a loan from the credit union in hopes of bringing more quality teachers to the area by providing housing. High living costs had made recruiting difficult, the newspaper stated. The complex could be ready with 24 two-bedroom apartments for the 2008-2009 school year. The Dare County project mirrors the building of an apartment complex in Hertford County with a loan from the credit union’s foundation. That complex opened in August and was filled with teachers after one month. The foundation agreed to provide the Dare County loan because the Hertford County project was successful.
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