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From the February-04, 2009 issue of Credit Union Times Magazine • Subscribe!
The Golden 1 Donates Foreclosured Property
SACRAMENTO, Calif. -- The Golden 1 Credit Union donated a foreclosed property to the Sacramento Habitat for Humanity in December, the second property the $7 billion credit union has donated to the charity, according to President/CEO Teresa Halleck.
"We did this five or six years ago, my first year here, and it was such a positive experience," she said. "We had another property come up that was just perfect, so we decided to give it back to the community."
The home was demolished Dec. 13 by a 100-strong army of California Highway Patrol cadet volunteers. Habitat for Humanity will replace it with at least three new single-family homes. The charity acts as builder and lender; families receive a 0% interest, 30-year loan with no down payment from Habitat for Humanity.
"This is an example of how we can turn unfortunate circumstances into opportunities for families in our community to get a new, promising start as homeowners," Halleck said.
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