Based in Port Arthur, Texas, Legacy Community Development Corporation (Legacy CDC) is a HUD-approved counseling agency that develops affordable housing and provides financial counseling for low-to moderate-income families across Southeast Texas. Since its founding in 2006, the ambitious nonprofit has helped hundreds of Southeast Texas families on the path to homeownership. We recently sat down with Vivian Ballou, Executive Director of Legacy CDC, to learn more about her mission, her relationship with Stellar Bank, and her plans for the future.
A Lasting Legacy
After a successful career in government, Vivian’s journey led her back to her roots in Port Arthur. From a young age, Vivian was inspired by her mother, who founded a homeless shelter, soup kitchen, and food bank in the community. Today, as Executive Director of Legacy CDC, Vivian takes her mother’s dream even further. Legacy CDC plays a vital role in combatting housing insecurity with rental assistance, home repair assistance, disaster recovery, and long-term, affordable housing.
A Partnership for Growth
Shortly after its founding, Legacy CDC started banking with what is now Stellar Bank. “We’ve always worked closely with Stellar Bank, and we’ve always seen them as a partner,” said Ballou. “As a nonprofit, it can sometimes be hard to translate our programs and financials to a bank. Stellar understands how we operate, which helps us achieve our goals.” The relationship with Stellar Bank helps Legacy CDC secure funding through state and federal grants, as well as a larger line of credit. This enables Legacy CDC to build more houses simultaneously, which brings greater efficiency-based cost savings. “Banking with Stellar allows us to grow,” continues Ballou. “Our bankers have helped us secure $1.5 million to finance multifamily housing that can house up to 23 at-risk families. In the next year or so, we aim to expand even more into the Beaumont and Houston areas and construct a total of 25 houses.”
Beyond Banking
Aside from banking, Ballou has come to count on Stellar Bank for sponsoring its annual luncheon and training seminars, as well as providing financial literacy camps for families. Ballou sits on the Community Advisory Board at Stellar Bank, providing key insights into the Port Arthur community. “Being on the board helps me stay informed on what’s going on in Port Arthur and surrounding communities,” said Ballou. “It allows us to meet and interact with other nonprofits and businesses focused on housing so we always come away with new ideas and suggestions that we can apply for ourselves.”
Local Banking Expertise
Stellar Bank is dedicated to helping businesses, people, and communities flourish. We are committed to building and developing communities by continually evaluating the credit needs of those we serve and developing products and services to meet them. Equally, our Community Development Group supplies local economic knowledge and insights to make a difference in our communities. Stellar bankers set the standard for responsive, relationship-based community banking, and we’re dedicated to helping your organization thrive.
Visit www.stellar.bank or contact a Stellar banker at 713.499.1800 to connect with our team.
