Geddes Federal Invests in Home HeadQuarters
Geddes Federal Invests $1 Million in Home HeadQuarters’ “Flexible” Home Improvement Fund
Syracuse, NY - Home HeadQuarters, Inc., a non-profit neighborhood and community development organization that provides home ownership and home improvement opportunities to Central New York families, announced that local financial institution, Geddes Federal Savings & Loan Association, recently invested $1 million dollars in the organization’s FlexFund Home Improvement Loan Program. The FlexFund, offers homeowners “flexible” underwriting requirements providing those that may otherwise not be able to borrow from traditional lenders, due to a lack of equity or falling below bank credit standards, the ability to make needed home repairs.
“Geddes Federal Savings & Loan’s $1 million investment in Home HeadQuarters is truly an investment in Central New York homeowners,” said Kerry Quaglia, CEO, Home HeadQuarters. “These funds provide a much-needed infusion of home improvement capital in our community.”
“We are pleased to support Home HeadQuarters’ FlexFund Home Improvement Loan Program and the additional opportunities it will provide members of our community,” said Brian DuMond, President & CEO, Geddes Federal Savings & Loan Association.
Since 1996, Home HeadQuarters has provided more than $93 million in home improvement financing to Central New York homeowners. The organization is the leading lender to families looking to repair their homes in the city of Syracuse and provides 65% of all lending activity to families of color, out lending all other financial institutions combined.
[Pictured from left: Kelley Guyder, Lending Manager, Home HeadQuarters; Kerry Quaglia, CEO, Home HeadQuarters; Brian DuMond, President & CEO, Geddes Federal Savings & Loan Association; Laurie O’Hara, Vice President & Secretary, Geddes Federal Savings & Loan Association]
Home HeadQuarters is a non-profit community housing development organization and certified Community Development Financial Institution whose mission is to create housing opportunities for Central New York individuals and families and improve the communities in which they live. Since 1996, Home HeadQuarters has played a major role in stabilizing and revitalizing Central New York neighborhoods by directly facilitating more than 3,500 homebuyers, providing $21 million in down payment assistance and first mortgage financing; removing nearly 525 derelict structures, rehabilitating 225 formerly vacant properties and constructing 68 new, energy-efficient homes. More than 18,000 people have come to Home HeadQuarters seeking education and counseling on buying a home, building family wealth, or keeping their home from foreclosure.
Geddes Federal Savings & Loan Association has been serving Central New York since 1949 with quality residential loans and savings products. The bank has two offices located at the Westvale Plaza in the Village of and a branch office located at Limestone Commons in the Village of Manlius. Geddes believes customer service is the number one priority. For this reason, the Bank does not sell customers mortgages and services all of their accounts in-house.