SECU Foundation — the member-funded charitable organization of the $25.3 billion State Employees' Credit Union — is supporting the construction of a new teacher housing complex in Raeford, N.C. by contributing a $2.4 million, 0% interest loan, the foundation said.
The advisory board at Raleigh-based SECU's Raeford branch initiated a proposal to the SECU Foundation for the new Echo Ridge Teacher Housing Complex, which the SECU Foundation said will address teacher recruitment and retention issues in North Carolina's Hoke County schools by providing a safe and affordable housing option for new and current teachers.
The foundation said it will provide the construction loan through the Partners for Hoke County Public Schools Education Foundation in Raeford. The complex will hold 24 two-bedroom apartments and is slated for completion in July 2013, SECU Foundation said.
“We are proud to work with Partners for Hoke County Public Schools Education Foundation to support the construction for Echo Ridge,” said Jim Barber, board chair for SECU Foundation. “This complex will make a positive impact on education through increased recruitment of highly qualified new and lateral entry teachers, providing the best possible educational opportunities for the children of Hoke County.”
The Echo Ridge Teacher Housing Complex is SECU Foundation's fourth teacher housing initiative in North Carolina. Similar to its first teacher housing initiative, 2006's Hertford Pointe, the foundation said it will recycle the rental income earned at the Echo Ridge Teacher Housing Complex for future projects in the state.
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Natasha Chilingerian
Natasha Chilingerian has been immersed in the credit union industry for over a decade. She first joined CU Times in 2011 as a freelance writer, and following a two-year hiatus from 2013-2015, during which time she served as a communications specialist for Xceed Financial Credit Union (now Kinecta Federal Credit Union), she re-joined the CU Times team full-time as managing editor. She was promoted to executive editor in 2019. In the earlier days of her career, Chilingerian focused on news and lifestyle journalism, serving as a writer and editor for numerous regional publications in Oregon, Louisiana, South Carolina and the San Francisco Bay Area. In addition, she holds experience in marketing copywriting for companies in the finance and technology space. At CU Times, she covers People and Community news, cybersecurity, fintech partnerships, marketing, workplace culture, leadership, DEI, branch strategies, digital banking and more. She currently works remotely and splits her time between Southern California and Portland, Ore.
