Coastal Credit Union Foundation Issues Half Million Dollars in Affordable Housing Grants
Coastal Credit Union Foundation
RALEIGH, N.C. (August 31, 2022) – The Coastal Credit Union Foundation has announced its latest round of giving, which is specifically aimed at tackling affordable housing issues in our community. At the August meeting, the foundation board voted to approve $500,000 in new grants.
“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,” said Creighton Blackwell, Coastal’s Chief Community and Public Affairs Officer and foundation board chair. “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.”
The grants include:
EMPOWERment Inc. - $150,000 to help fund Pine Knolls EMPOWERment Affordable Community Housing (P.E.A.C.H) Apartments, a ten-unit, 10,000 square feet, 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. The live music event on October 28 hopes to raise more than $1 million for 11 local organizations seeking to improve housing accessibility as a means to reducing poverty in our community.
“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 Credit Union Foundation really gets that,” said Eric Guckian, United Way of the Greater Triangle’s President and CEO. “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.”
Year to date, the foundation has made $645,000 in grants.
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/.