CAHEC Connection: September 2022 Newsletter

Investor Spotlight: Southern Bank and Trust

Southern Bank and Trust is a wholly owned subsidiary of Southern BancShares (NC), Inc. With its corporate headquarters located in Mount Olive, the Bank has total assets of over $4 billion and over 60 locations throughout eastern North Carolina and Virginia. Our partnership with Southern Bank began in 2003, and since then, the Bank has invested a total of $4.5 million into five separate funds. Because of their investments, 54 units of affordable housing have been made possible to low-income residents in our footprint.

David Sauls, Executive Vice President and Chief Financial Officer for Southern Bank, shared his thoughts on why investing in affordable housing is so important to his organization. "Since 1901, Southern Bank has been dedicated to serving and investing in our communities, and we are proud to have partnered with CAHEC since 2003 to address the growing issue of affordable housing. Strategic partnerships with organizations like CAHEC expand our ability to support and care for those living in the communities we serve."

Thank you to Southern Bank for being a great partner and for helping us further our mission of providing communities with affordable housing and opportunities for growth!

NAHB Power Hitters

The National Association of Home Builders (NAHB) has partnered with YIELD PRO TV to present industry Power Hitters. Recently, they interviewed Bob Landis, SVP of Syndication for CAHEC, on the LIHTC program, CAHEC's role in the process, and the state of affordable housing. You can hear the full interview here.

Making an Impact: CAHEC at Work

The 2021-2022 Making an Impact: CAHEC at Work is now available online! Take a minute to explore this interactive platform and learn how we are positively impacting the residents and communities within our footprint.

"While [our work is] gratifying, what truly prompts us to 'stop, take a breath, and look around' are the 115,000 residents who - facilitated by CAHEC and its partners - have a safe and affordable place to call home." -Dana Boole, President & CEO

New Faces at CAHEC

We're excited to introduce three new faces to the CAHEC staff! Each of these new additions bring a tremendous amount of knowledge and expertise to their respective departments, and we're so glad they joined our team. We look forward to our partners meeting them over the next few months!

Celebrating 30 Years

Fun fact: CAHEC's very first partner grant, the Technology Resource Center, was introduced in 1999. Through this grant, partners could apply to receive a computer, printer, desk, and chair for their property's community room. It's fun to look back on these photos and see how far technology has come over the last few years!

In 2016, with cell phones, tablets, and computers becoming more affordable, the Technology Resource Grant was discontinued, but it continues to be one of the grants our partners remember most often!

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