Coastal Credit Union Foundation announces $200,000 to build homes in Wake, Durham
Tuesday, April 2, 2019
RALEIGH, NC – Coastal Credit Union President and CEO Chuck Purvis announced April 2 that the Coastal Credit Union Foundation will make $200,000 in grants to build affordable homes in the Triangle. Habitat for Humanity of Wake County and Habitat for Humanity of Durham will each receive $100,000 to fund the construction of a home. The announcement came during Habitat Wake’s annual Blueprint Breakfast fundraiser.
“Home ownership, for most Americans, is the main way that families build wealth. It’s also stability for families, and becomes a foundation for prosperity,” said Purvis. He went on to cite positive community impact as a core component of Coastal’s mission. “Our focus is helping our members improve their financial health, but it’s about helping to improve lives.”
Over the past year, Coastal took a deep look into how the foundation and the credit union could be more aligned in overall community impact, both in what the foundation supports with charitable donations, and what the credit union offers in terms of services and expertise.
Purvis added, “In doing so, we added affordable housing to the foundation’s areas of focus. There’s already a shortage, and it will be an increasing concern as our community continues to grow. We’re collectively prospering, but want to ensure that the vulnerable among us aren’t being priced out of the opportunity to have the stability that a home provides.”
Coastal has a long history of supporting Habitat projects and events. The credit union was Habitat Wake’s first Community Building Partner, and has committed $6 million in low cost mortgages for Habitat homebuyers since 2016. Previously, the credit union sponsored a home that was completely funded by a combination of company donations and internal fundraisers.
About Coastal Credit Union Foundation
The mission of the Coastal Credit Union Foundation is to enrich the lives of our members and their communities by providing financial support to 501(c)(3) organizations, particularly in the 16-county market of Central North Carolina. Learn more at www.coastal24.com/foundation/.