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Photo Release -- SECU and City of Greenville Share Goal of Revitalizing Communities

RALEIGH, N.C., Dec. 19, 2014 (GLOBE NEWSWIRE) -- Property bordering Colonial Avenue and White Street in Greenville, North Carolina drew the attention of local media and neighboring citizens Thursday morning as officials from State Employees' Credit Union (SECU) and the City of Greenville gathered for a tour of two homes renovated by SECU's property management subsidiary, State Employees' Credit Union*Real Estate (SECU*RE). The homes are part of a SECU*RE effort that began nearly two years ago, working with City of Greenville representatives to identify focus areas and help expand revitalization of distressed properties. Modeled after a similar SECU*RE initiative in Durham, this effort is aimed at reinvesting in declining west Greenville communities through the acquisition of foreclosed or neglected properties for renovation, as well as vacant land for new construction, helping create safe neighborhoods with quality affordable housing for rent and homeownership.

Officials from State Employees' Credit Union and the City of Greenville gathered for a tour of two homes renovated by SECU's property management subsidiary, State Employees' Credit Union*Real Estate (SECU*RE).


A photo accompanying this release is available at http://www.globenewswire.com/newsroom/prs/?pkgid=29744.

Greenville Mayor Allen Thomas was on hand for the tour along with Rose Glover, Greenville City Council member, Merrill Flood, City of Greenville's Director of Community Development, Niki Jones, City of Greenville's Community Development Senior Planner, Russ Taylor, SECU Senior Vice President of SECU*RE East, Sam Adams, SECU Senior Vice President of SECU*RE and Rich Hutson, SECU Senior Vice President of the Greenville-Charles Boulevard branch.

"The goal is homeownership," said Mayor Thomas. "Homeownership creates pride in the community and that's the first step. Rather than renovating an individual home here and there, SECU*RE's strategy of renovating clusters of homes is, in essence, revitalizing and bringing new people into the neighborhood and community."

Russ Taylor commented, "What we are doing through SECU*RE is an extension of what we do with Credit Union foreclosed properties, but we can't do a project like this alone; we need the support of the community as well. SECU cares about helping people and creating permanent and positive change in North Carolina. By refurbishing distressed homes or purchasing vacant parcels for new construction, we're working to increase the number of quality affordable homes, initially for rent, but ultimately for homeownership."

Mayor Thomas continued, "This is a model that we are proud to be part of and speaks volumes to SECU's forward thinking, innovation and approach about community."

About SECU

A not-for-profit financial cooperative owned by its members, SECU has been providing employees of the State of North Carolina and their families with consumer financial services for 77 years. With more than 1.9 million members, SECU provides services through 254 branch offices, 1,100 ATMs, 24/7 Contact Centers and a website, www.ncsecu.org.

CONTACT: Leigh Brady, EVP - Organizational Development Office: 919-807-8347 Mobile: 919-327-8869 leigh.brady@ncsecu.org

Source:State Employees' Credit Union(SECU)