SFCU Pledges Funding for Impact Project Loans

SIDNEY—Sidney Federal Credit Union and The Impact Project have announced a partnership that will see up to $300,000.00 in loans funded to support low-income residents of the tri-counties of Chenango, Delaware and Otsego that fall under ALICE guidelines (Asset Limited, Income Constrained, Employed). The Impact Project loans are for amounts up to $15,000.00 for home repairs and charge only 0.5% interest. The goal is to help families maintain and increase equity in their homes and stabilize their housing situation through repair and rehabilitation projects.

“There’s no greater testament to the credit union mission of ‘People Helping People’ than The Impact Project,” said SFCU President Jim Reynolds in a press release. “Financial instability is a real problem in the Southern Tier. Supporting projects that rehabilitate homes not only help improve our members’ lives but also the communities in which they live.”

“Every 48 hours a homeowner in Chenango County leaves their home. There are many reasons for this, but the final nail in the coffin is the home is no longer safe and affordable. The Southern Tier is a great place to live. Our mission is to help those homeowners with major home repairs that they can’t do themselves, so that they will stay in their home,” said Impact Project Director Jim Willard

Impact Project is a nonprofit 501c3 based in Greene that provides major home repairs for low-income families. The Impact Project just completed its 190th home rehabilitation in December 2023. The non-profit has been in operation since 2004. More information on The Impact Project can be found at theimpactprojectgreene.org.