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 12-05-17

With the most recent house, the 28th, closed in Lexington (Davidson County), the SECU Foundation has now contributed nearly $2.6MM to Habitat affiliates across the state. 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 -0- 31 31 $1,699,626 19 22
Phase 2 68 -0- 31 43    $888,157 9 15
Total 102 $ 62 74 $2,587,783 28 37
Planned 104 $10,000,000
% 98% 60% 71.1%  25.8% 27% 35.5%
Average $91,911

Phase 1: Scotland, Yancey, Avery, Edgecombe, Chowan, Anson, Richmond, Ashe, Northampton, Duplin, Warren, Lenoir, Watauga, Montgomery, Robeson, McDowell, Mitchell, Bertie and Bladen 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, Union, Yadkin, Randolph, Henderson and Davidson (Lexington)  have closed and been assigned to SECU. The following counties (Phase 1 and Phase 2) are within weeks of closing: Rockingham, Washington, Martin, New Hanover, Randolph, Rutherford and Vance.

Ninety-one percent of all Phase 1 projects have started. By the end of the 1st quarter 2018, 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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