Raleigh, N.C. (Source: Shutterstock)
In its latest round of giving, the Raleigh, N.C.-based Coastal Credit Union Foundation announced board members approved $500,000 in new grant money to be distributed to organizations focused on resolving the affordable housing problem in North Carolina.
The Coastal Credit Union Foundation is the charitable arm of the $4.7 billion Coastal Credit Union.
According to a statement from the Foundation on Wednesday, the half-million dollar grant amount will be dispersed to several organizations around the Chapel Hill and Durham, N.C., communities. The organizations and grant amounts included the following:
- Habitat for Humanity, Orange County and Habitat for Humanity of Durham: $200,000 to underwrite the cost of building two homes, one in Chapel Hill and another in Durham.
- EMPOWERment Inc.: $150,000 to help fund Pine Knolls EMPOWERment Affordable Community Housing (P.E.A.C.H) Apartments, a 10-unit, 10,000-square-foot, ADA-compliant, multi-generational and multifamily project in the historically African American neighborhood of Pine Knolls in downtown Chapel Hill. The project will house and stabilize families earning well below the Area Median Income (AMI) level, including essential workers, minimum wage-earners and residents living on fixed incomes.
- Band Together and United Way of the Greater Triangle: $100,000 to support this year's Mighty Giveback event as a Community Champion.
- Families Together: $50,000 to help homeless families with children access urgently needed safe, affordable housing and provide specialized support to set them up for long-term housing success.
Coastal Chief Community and Public Affairs Officer and Foundation Board Chair Creighton Blackwell said, "Access to affordable housing has been a growing issue over the past several years, and will continue to be at the forefront as population growth outpaces available housing supply, and property values continue to escalate. With so many organizations approaching us serving similar but major community needs, we felt the need to step up and help in a big way."
According to the Foundation, it has distributed $645,000 in grants so far in 2022.
"United Way of the Greater Triangle's mission is to eradicate poverty and increase social mobility through the power of partnerships. Achieving that mission won't be possible without access to affordable housing and [the Coastal] Credit Union Foundation really gets that," Eric Guckian, United Way of the Greater Triangle's president/CEO, said. "They made an incredible investment to support the $1 million fundraising goal we have with Band Together and they're also making additional gifts to support the same organizations that will benefit from that concert. This is impact amplified and we're grateful for it. We're looking forward to a long and impactful partnership."
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Michael Ogden
Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.
