SECU Habitat Challenge

The SECU Foundation and Habitat for Humanity® of North Carolina (HHNC) have signed a formal Memorandum of Agreement for a joint initiative to expand affordable housing across North Carolina–the SECU Habitat Mountains to the Sea Challenge. SECU Foundation’s Challenge will provide an investment of up to $10 million over a three year period for HHNC to build one new (or thoroughly renovated) home in each of NC’s100 counties.

SECU Challenge Affiliate Update as of 11-09-17

With the most recent house, the 22nd and 23rd houses closed in Carteret and Union counties, the SECU Foundation has now contributed $1.78MM to Habitat affiliates across the state. The average mortgage amount remains below the $100,000 mark ($92,262), so we will have sufficient funding to cover the 104 houses in 100 counties. Here is the status of the project:

Projects Projection Reported Estimated Mortgage Amounts Reported Actually Started/or Completed Cum. Total Projected to Start by end of 4th Qtr 2017 Actual Mortgage Amounts Actually Assigned Total to be Completed by End of 4th Qtr CY2017
Phase 1 34 $3,026,426 31 34 $1,604,626 18 25
Phase 2 68 $5,824,807 31 40    $510,157 5 25
Total 102 $9,410,755 65 74 $2,114,783 23 50
Planned 104 $10,000,000
% 98% 94% 62.5% 71.1%  21.1% 20.1% 48%
Average $92,262

Phase 1: Scotland, Yancey, Avery, Edgecombe, Chowan, Anson, Richmond, Ashe, Northampton, Duplin, Warren, Lenoir, Watauga, Montgomery, Robeson, McDowell, Mitchell and Bertie counties have completed their houses, closed a mortgage with a homebuyer, and assigned those mortgages to the SECU Foundation for payment.

Phase 2: Pitt, Perquimans, Chatham, Carteret and Union have closed and been assigned. The following counties (Phase 1 and Phase 2) are within weeks of closing: Rockingham, Davidson, Washington, Bladen, Martin, New Hanover, Yadkin, Randolph, Rutherford and Vance.

Ninety-one percent of all Phase 1 projects have started. By the end of the 4th quarter 2017, each will have been started or completed.

If you have any questions, please contact the Program Director Susan McLawhorn:
919-258-8685.
smclawhorn@habitatnc.org

SECU Mountains to the Sea, Donor Society

 

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