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The new building is tied in to an effort to revive the 13th Street corridor in the neighborhood just west of downtown Roanoke.
Thursday, March 21, 2013
Freedom First Federal Credit Union broke ground Thursday on a new branch on Patterson Avenue in Roanoke’s West End neighborhood, where the old Villa Sorrento restaurant used to stand.
“This is a great investment for the neighborhood,” Roanoke Mayor David Bowers said.
The credit union is using an $850,000 grant from the U.S. Treasury Department’s Community Development Financial Institutions fund in tandem with a $343,000 Community Development Block Grant to West End Center Inc. to build the full service branch. The new building, next door to the West End Center, will also house a community kitchen and meeting room, and plans call for a farmers’ market pavilion at the site.
The credit union aims to provide an affordable place for neighborhood residents to keep their money, and to offer loans and other financial services aimed at helping people with moderate income improve their standards of living, said Paul Phillips, Freedom First’s president and chief executive office.
Coming Sunday: How the new branch fits with the Roanoke nonprofit’s social mission of community development and financial inclusion.
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