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Community Access Unlimited announces $27.5 million line of credit from Valley National Bank

ELIZABETH, NJ - Community Access Unlimited (CAU) has received a total of $27.5 million line of credit from Valley National Bancorp (NYSE: VLY). Of that, $20 million will help finance CAU’s growth and $7.5 million is for a owner-occupied construction-to-permanent mortgage for the agency's new office, according to Sid Blanchard, CAU executive director.

Community Access Unlimited is a statewide Elizabeth-based nonprofit providing support programs and services to adults with disabilities as well as youth served under the Department of Children and Families to enable them to live independently in the community, in areas including housing, vocational skills and life-skills training, education, advocacy and recreation.

CAU is a unique from other nonprofits in that through its business model it has achieved financial independence and does not rely on government funding. CAU has more than $40 million in assets and less than $2 million in debt.

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The agency owns more than 250 units of affordable housing throughout Union County, comprising apartments, condos, single-family homes, duplexes and townhouses, all privately financed. Many are mixed-use properties, providing an additional revenue stream to support and enhance CAU’s service capacity.

"This financial independence, very unusual in the nonprofit sector, allows CAU to operate free from the constraints that often come with public funding, enabling us to pursue the interests of our members more efficiently and effectively," Blanchard said. "Our partnerships with private sector lending institutions are essential for us to enjoy this financial success."

“We have been able to customize creative banking solutions for a number of nonprofits throughout our footprint,”   said Mwaura Muroki, Valley National Bank vice president. “We enjoy a long-standing relationship with CAU and remain committed to supporting their mission to provide services for individuals with special needs throughout New Jersey.”

Blanchard founded CAU in 1979 with a $90,000 grant and the mission to move people out of institutional living and into the community. Today the agency serves more than 6,000 members throughout the state.

Valley National was honored by CAU at the agency's 2015 Gala with the Ira Geller Award for the Financial Literacy Program the bank runs at the agency for its members. The award recognizes an individual or organization that has a significant commitment to CAU.

 

 

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Elizabeth

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Linden Public Library, Linden

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Lifelong Elizabeth and Elizabeth Police to Hold  “Walking Safety ” Event

April 18, 2018

ELIZABETH, NJ - The Lifelong Elizabeth Program, under Jewish Family Service of Central NJ, will be holding another “Walking Safety Presentation” for Elizabeth residents on Thursday, April 26, from 11 a.m. to Noon, at the Elizabeth Public Library at 11 South Broad Street.

Elizabeth Police Department Sergeant Brian Clancy will provide participants with tips on walking safely and the ...

Countywide Free Scrap Metal Recycling Event to be Held in Rahway and Cranford

UNION COUNTY, NJ - A free Countywide scrap metal recycling event is scheduled to be held on Saturday, April 21 in Rahway and Cranford.  

A wide variety of metal goods, from household appliances to gutters and sheds, are included in the program.

“This countywide program helps to fill a service gap in some Union County municipalities that currently have no pickup for scrap ...

Westfield Firefighters Extinguish Small Blaze at Rock 'n' Joe's

April 15, 2018

WESTFIELD, NJ - A small electrical fire started around noon at Rock 'n' Joe's on Prospect Street on Saturday.

According to Deputy Chief Anthony Tiller, the fire was caused by an electrical shortage in wires in the ceiling, sending smoke into the neighboring businesses on both sides.

“It created a smoke condition," Tiller said. "Once we located the fire, we ...

Nightmare Commute for Raritan Valley Line Commuters Monday

April 17, 2018

UNION COUNTY, NJ -- Raritan Valley Line commuters spent more than three hours trying to make their way home from New York City on Monday following the breakdown of a train near Union Station during rush hour.

At 9:47 p.m., NJT tweeted:

Raritan Valley Line westbound train service is operating on or close to schedule following an earlier disabled NJ Transit train near Union ...

Thank You, St. Joseph's Volunteers

April 16, 2018

Thank You from St. Joseph Social Service Center

In recognition of National Volunteer Week, we would like to express our gratitude to the countless volunteers that serve the poor and homeless at St. Joseph Social Service Center in Elizabeth (http://www.sjeliz.org).  Whether you make a sandwich, collect toiletries, tutor in the job program, make soup, wrap Christmas gifts, donate food, ...

Union County Freeholder Board Reminds Seniors on New Medicare Cards

April 18, 2018

In recognition of May as Older Americans Month, the Union County Board of Chosen Freeholders reminds Union County’s senior adults that they will receive new Medicare cards from the federal Centers for Medicare & Medicaid Services this summer.

The Centers for Medicare & Medicaid Services is the federal agency that runs the Medicare program. It is a branch of the US Department of ...