BUSINESS BRIEFS: Credit Union prepares for immigration reform

April 16, 2013 

— Credit Union prepares for immigration reform

MANATEE -- Manatee Community Federal Credit Union is preparing for possible immigration reform by developing new financial products for immigrants who want to begin saving for the costs of normalizing their status now.

The "Gang of 8," which includes Florida Senator Marco Rubio, is finishing their work on an immigration reform proposal. Their plan will most likely include a path to legalization for the 11 million or so undocumented immigrants living in this country. Applicants will likely have to pay a penalty fee in addition to a government fee for the application. The total costs for immigrants and their families are uncertain, but expected to be in the thousands of dollars.

Manatee Community's new program will allow any person with a social security or tax ID number who lives, works, attends school or worships in Manatee County to open an account and receive a secured loan for $1,000. The loan proceeds will remain on deposit with the credit union. During that time, the loan recipient will pay back the loan in full plus interest. When the recipient pays off the loan, the proceeds remain as deposit money and he or she will have established a payment history with the credit union. The recipient may then use the funds to pay for immigration-related expenses and may be eligible for an unsecured loan which could be used for other costs associated with immigration reform.

Centex buildingtwo new model homes

BRADENTON -- Centex has started construction of two new model homes at The Reserve at Crossing Creek, at 44th Avenue East and 69th Street East.

The Vernon Hill Loft model home at The Reserve at Crossing Creek has 2,629 square feet including four bedrooms and three baths, with a den and an upstairs loft priced from mid-$200,000s.

Scott Mairn, vice president of sales and marketing for the South Florida Division of Centex, said the two-story Mendoza model home offers four bedrooms and two-and-a-half baths priced from high-$200,000s.

The 3,242 square foot house includes an upstairs game room, a first floor flex room and third full bath.

Centex plans to build 88 single family homes at The Reserve at Crossing Creek.

-- Herald staff reports

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