DCRAC, the Delaware Community Reinvestment Action Council, Inc., is moving its main office to 600 South Harrison Street in Wilmington, in 2017.
The building itself is a gift from Fulton Bank and grants from three organizations were instrumental in renovating the structure with the purpose of serving our community. In time, this building will also house Stepping Stones Community Federal Credit Union, which DCRAC helped charter in 2011.
“We are extremely grateful to Fulton Financial Corporation for this exceptional gift, which will enhance our visibility and provide additional space for us to serve our clients and eventually expand our operations. Partnering this gift with the generosity of grants from the Welfare Foundation ($50,000), the Crestlea Foundation ($10,000), and M&T Bank ($7,500) launched the first phase of renovations,” said Rashmi Rangan, executive director of DCRAC.
The building is a feature of the Wilmington mosaic: a community bank serving the Hedgeville and Browntown neighborhoods, dating to 1958, when it opened as the Kosciuszko Building and Loan Association, and was later renamed as Kosciuszko Federal Savings Bank and then White Eagle Federal Savings Bank. Through a series of mergers, the building became a branch of First Home Savings Bank, Sovereign Bank in 1998, Delaware National Bank in 2001 and Fulton Bank in 2009.
DCRAC is now conducting its second phase of a capital campaign, to modernize the building, make it accessible, energy-efficient, and creating a more community friendly space.
“The total cost of the project is $600,000 with $300,000 remaining to be raised,” said Rangan. “We are extremely grateful for the confidence expressed by our generous donors.
