Latest news with #CarolinasCreditUnionFoundation
Yahoo
02-03-2025
- Business
- Yahoo
Study reveals one in three NC households struggled to afford basics
CARY — There were 1.8 million NC households unable to afford the state's $78,576 average cost of living in 2022, according to the ALICE Report released earlier this week. A Study of Financial Hardship places a spotlight on what United For ALICE calls the ALICE population — households earning more than the official Federal Poverty Level, but less than the cost of basics such as housing, childcare, food, transportation, health care, technology and taxes. ALICE stands for Asset Limited, Income Constrained, Employed — a large population of hardworking residents who work at low-paying jobs, have little or no savings and are one emergency away from falling into poverty. The Report is the most comprehensive depiction of financial need in the state to date, using the latest data from a variety of sources, including the U.S. Census. The Report unveils new measures, based on 2022 income levels and expenses, that quantify how many NC households are struggling financially, and why. In 2022, a total of 1.3 million NC households fell into the ALICE population. This number was more than double the official poverty rate, which accounted for another 550,000 households in the state. Combined, ALICE households and households in poverty made up the population below the ALICE Threshold of Financial Survival and accounted for 43%% of all households in North Carolina. 'ALICE is the recent college graduate unable to afford to live on their own, the young family strapped by childcare costs and the underemployed mid-career professional,' said United Way of North Carolina CEO Brittany Pruitt Fletcher. Households below the ALICE Threshold span all races, ages and genders, yet for certain groups, the struggle is disproportionate. For example, 58% of Black and 54% of Hispanic households in North Carolina were below the ALICE Threshold in 2022, compared to 38% of white households. Because wages had stagnated for a decade, 36% of the state's 114,630 retail sales workers — one of the most common occupations — lived below the ALICE Threshold in 2022. One third of North Carolina's 100 counties had 40% of households unable to make ends meet in 2022. The average income needed to survive in North Carolina depends on local conditions and ranged from $28,000 to $78,500 annually for a family of four, more than double the official U.S. poverty level. ALICE families have been facing higher levels of inflation for more than a decade. The ALICE Report for North Carolina was funded in part by Carolinas Credit Union Foundation. For more information or to find data about ALICE in local communities, visit
Associated Press
28-02-2025
- Business
- Associated Press
SECU Foundation Honored with CCUF Hero Award for Partner in Philanthropy
CHARLOTTE, N.C., Feb. 28, 2025 (GLOBE NEWSWIRE) -- SECU Foundation has been named a recipient of the 2024 Carolinas Credit Union Foundation (CCUF) Hero Award for Partner in Philanthropy. The award honors the Foundation's commitment and practices that exude philanthropic character and affirm the credit union People Helping People® philosophy. Established in 2004, SECU Foundation was created to help identify and address large scale community issues in the areas of education, housing, healthcare, and human services. It now stands as the largest charitable organization in the credit union industry and recently celebrated 20 years of impactful giving with commitments exceeding $300 million in grants, scholarships, and loans to benefit North Carolinians in all 100 counties of the state. The funding for SECU Foundation is unique. State Employees' Credit Union (SECU) members who have an active SECU checking account may choose to contribute through the reallocation of their $1 monthly maintenance fee. Over 99% of those members participate in this concept referred to as The Power of a Dollar. 'We are honored to receive this award from the Carolinas Credit Union Foundation,' said SECU Foundation Board Chair Chris Ayers. 'I am always amazed by the impact one dollar a month can have in addressing community needs throughout our great state. We are pleased to partner with many wonderful non-profits that embody our People Helping People philosophy, and we are incredibly thankful for the generosity of SECU members that enables our Foundation to continue making a transformative impact for the people of our state.' About SECU and SECU Foundation A not-for-profit financial cooperative owned by its members, and federally insured by the National Credit Union Administration (NCUA), SECU has been providing employees of the state of North Carolina and their families with consumer financial services for 87 years. SECU is the second largest credit union in the United States with $53 billion in assets. It serves more than 2.8 million members through 275 branch offices, 1,100 ATMs, Member Services Support via phone, and the SECU Mobile App. The SECU Foundation, a 501(c)(3) charitable organization funded by the contributions of SECU members, promotes local community development in North Carolina primarily through high-impact projects in the areas of housing, education, healthcare, and human services. Since 2004, SECU Foundation has made a collective financial commitment of over $300 million for initiatives to benefit North Carolinians statewide.
