The 1.8 million, $26.7 billion State Employees' Credit Union, headquartered in Raleigh, North Carolina has agreed with the city of Durham to involve the credit union in residential restoration.
The deal is between the credit union and the city and involves SECU Real Estate, the property management subsidiary that SECU launched to help it address real estate it has had to repossess.
Some of those properties were in a part of Durham and the SECURE worked with community partners to renovate and restore those properties to at least meet building codes and, in some cases, surpass them. The result has been an overall increase in the neighborhoods perceived safety and livability, the credit union said, explaining it wants the new agreement to help replicate that experience in other parts of Durham.
David King, a member of SECU’s Board of Directors, participated in the Pledge of Support signing. He noted “a critical need to reinvest in our neighborhoods and be part of the solution for North Carolina communities. With the support of the City of Durham and other community groups, we will make a difference for the citizens of this area and use this partnership model to positively impact other neighborhoods across the state,” he said.