Remote Hatteras Island on NC's Outer Banks Benefits from Teacher Housing Initiative!

RALEIGH, N.C., July 22, 2011 /PRNewswire/ -- State Employees' Credit Union (SECU) members via the SECU Foundation are helping to assure that new teachers on Hatteras Island have safe and affordable housing alternatives.   Through a partnership with the Dare Education Foundation and the Dare County Board of Education, the teacher housing initiative located in Buxton, NC was solidified with an interest-free loan from the SECU Foundation.  A ribbon cutting ceremony for the 2 bedroom, 2 bath, 12-unit complex was held on July 19th.  Representatives from each of the partnership organizations and other community supporters were on hand for the much-anticipated celebration.  

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This is the second SECU Foundation funded teacher housing project in Dare County, the first being Run Hill Ridge in Kill Devil Hills.  Dare County, located on the Outer Banks of North Carolina, is a popular tourist location and the home of several national historic attractions.  Living costs within the county are extremely high compared to many neighboring counties.  Likewise, new teachers struggle to find affordable housing and are discouraged when pursuing teaching positions within the area.  The remote location of Hatteras Island and the extensive commute from the current Run Hill Ridge facility compelled the SECU Foundation Board to approve an additional project in the County.

Dare County Board of Education Chairman, David Oaksmith commented, "The Board of Education wishes to express our sincere appreciation to the State Employees' Credit Union Foundation for the interest-free funding and to Dare Education Foundation for taking on this important project."

Shirley Bell, Chair of SECU Foundation's Board responded, "Education is a primary focus of the SECU Foundation and we are pleased to assist with another much needed teacher housing complex in the Dare County area.  As funds from the interest-free teacher housing loans are repaid, the Foundation can reinvest in other loans to help more NC counties.  We are thrilled with the success of our projects in Dare County, as well as our Hertford County initiative and look forward to the expansion of these efforts into additional North Carolina communities."

About SECU and the SECU Foundation

SECU is a not-for-profit financial cooperative owned by its members. SECU has been providing the employees of the State of North Carolina and their families with consumer financial services for over 70 years. Currently serving nearly 1.7 million members, SECU provides services through 238 branch offices, nearly 1,100 ATMs, 24/7 call centers and a website, www.ncsecu.org. The SECU Foundation, a 501c (3) charitable organization funded solely by the contributions of SECU members, promotes local community development in North Carolina primarily through high impact projects in the areas of education, health and human services.

SOURCE SECU Foundation