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Security Statement
SECU will not ask for personal information such as online credentials, account numbers or card numbers via email, voice or text messaging.
About SECU
State Employeesâ Credit Union conducts all member business in English. All origination, servicing, collection, marketing, and informational materials are provided in English only. As a service to our members, we will attempt to assist those who have limited English proficiency where possible.
State Employees Credit Union Vs Coastal Federal Credit Union
Coastal Federal Credit Union is easier to join because eligible members include individuals who live, work, worship, attend school or do business in a number of North Carolina counties, whereas SECU membership is more specific and restricted. But if youre eligible, SECU gives you more account options for your children, especially teenagers.
About State Employees Credit Union
State Employees Credit Union was founded in 1937 in North Carolina with $437 in assets, operating part-time to serve its handful of members. Today, with over 270 branch locations and more than 1,100 ATMs, the credit union serves more than 2.6 million members statewide.
Like all , SECU is nonprofit and member owned. To be eligible for membership, you must be an employee of either the State of North Carolina, a public board of education or an association that serves state employees. Immediate family members of these individuals are also eligible.
SECU stands apart from other financial institutions for its variety of products and stellar customer service, ranking #4 in the annual GOBankingRates list of Best Credit Unions.
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Become A Member Today
To become a member of State Employees Credit Union, a Members Savings Account is required. After opening your savings account, you are an official member with access to all of our member-focused products and services that can be enjoyed immediately or at a later date.
And once a member, you’re a member for life. Your family members become eligible for membership as well.
If you have questions, please contact us, and a friendly member service representative will provide you with additional information.
State Employees Credit Union Vs Wells Fargo
As one of the nations largest banks, Wells Fargo offers a dizzying array of financial products and services, and lots of options within each category, such as checking. Unlike banks, credit unions are non-profit, member-owned financial institutions. As such, SECU maintains a more local focus and a strong commitment to its members and its community.
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What Our Members Say
We have a personal loan with SECU. The loan process was very quick, and our loan is at a better rate than anywhere else. Member for 10+ years
What I love about State Employees Credit Union is they have been here for more than 50 years. Their name hasnt changed, the stability in knowing that its our credit union hasnt changed, they serve their members. Theyre here to help when we need that financial help.
Member for 30+ years
When I applied for an auto loan at the State Employees Credit Union, the staff was very upbeat and positive
Member for 20+ Years
State Employees Credit Union
Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and behavioral finance. Adam received his master’s in economics from The New School for Social Research and his Ph.D. from the University of Wisconsin-Madison in sociology. He is a CFA charterholder as well as holding FINRA Series 7, 55 & 63 licenses. He currently researches and teaches economic sociology and the social studies of finance at the Hebrew University in Jerusalem.
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Experience The Credit Union Difference
are not-for-profit financial cooperatives, whose earnings are paid back to members in the form of higher savings rates and lower loan rates. Banks are for-profit corporations, with declared earnings paid to stockholders only.
Not-for-Profit
Taxation
Credit unions, unlike many other participants in the financial services market, are exempt from Federal and most State taxes because credit unions are member-owned, democratically operated, not-for- profit organizations generally managed by volunteer boards of directors and because they have the specified mission of meeting the credit and savings needs of consumers, especially persons of modest means.
Ownership
Volunteer Boards
Each credit union is governed by a board of directors, elected by and from the credit unions membership. Board members serve voluntarily
Membership Eligibility
Financial Education for Members
People Helping People
State Employees’ Credit Union Faq
- Who can become a member of State Employees’ Credit Union?
- To be eligible for membership, you must be an employee of the state of North Carolina, a public board of education or an association that serves state employees. Immediate family members of these individuals are also eligible.
Cynthia Bowman contributed to the reporting for this article.
Rates are subject to change. Information on accounts is accurate as of Jan. 12, 2022.
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State Employees Credit Union Vs Navy Federal Credit Union
Navy Federal Credit Union members are current or past members of the military or their family members, so the credit union provides them with special services, such as an overseas customer service number they can call collect while deployed. SECU also caters specifically to its membership, which includes North Carolina educators, with products such as the Summer Cash account that makes managing irregular paychecks easier.
How The State Employees Credit Union Works
Employees of the state of North Carolina founded the SECU in 1937. The union was formed to provide consumer financial services to state and public school employees along with their families. At the time it was developed, the SECU had less than two dozen members and about $450 in assets. As of March 2022, the union’s assets have grown to $53.1 billion with many as 240 offices across North Carolina that serve more than 1.7 million members. SECU has a network of 1,100 automated teller machines situated in every county in North Carolina.
In order to become a member, individuals must be employed by the state of North Carolina. Federal employees who work for North Carolina state agencies, people who work for the state’s public school boards, members of the state’s National Guard, certain county employees, and retirees from any of the above also qualify. Membership also extends to certain immediate family members including spouses, siblings, and children of existing members. Those who fall into any of these categories can become members by opening a Share Accounta savings accountwith an initial minimum deposit of $25 or more.
Qualifying individuals can become members of the SECU by opening a Share Account with an initial minimum deposit of $25.
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Who Can Join State Employees Credit Union
- Anyone that lives, works, worships, or attends school in these 7 Counties:
- Santa Fe County
- Bernalillo County
- Dona Ana County
Secu Mission And Offerings
As mentioned above, the main purpose of the union is to provide its members with affordable and accessible financial services. These services include:
Member deposits with SECU are federally insured by the National Credit Union Administration , one of the two organizations that offer deposit insurancethe other being the Federal Deposit Insurance Corporation .
Over time, the union expanded its offerings to include investment accounts, estate planning, trust services, and insurance products. SECUs investment accounts help members save for retirement and education by providing low-cost diversified stock and bond mutual funds. Investment advisors assess a members goals and risk profile in order to choose the best mutual fund for the members tax-advantaged or taxable investment account. Members who want to invest in stocks, bonds, or other mutual funds can do so online or with the help of assistance representatives. The traditional, Roth, and simplified employee pension individual retirement accounts have no service or transaction fees. These accounts require a minimum opening deposit of $25.
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What Is The State Employees Credit Union
The term State Employees Credit Union refers to a nonprofitfinancial institution that is owned by employees of the state of North Carolina. The SECU was founded in 1937 and is now one of the largest in the United States by asset size and number of members.
The credit union’s main purpose is to provide affordable financial services to its members including checking and savings accounts, loans, mortgages, and investment savings vehicles.
How To Open An Account
Visit a branch or call Member Services at 888-732-8562 to request membership. Once your eligibility has been verified, youll establish your membership by opening a share savings account with a $25 initial deposit. Then you can enroll in Member Access, which gives you access to online and mobile banking, to open additional accounts.
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We’d Love To Serve You
At State Employees Credit Union, youre not a customer or a number youre a member with an active voice in a credit union that caters to your specific needs.
As a not-for-profit institution, rather than focus on personal gains, we pour earnings back into the credit union to provide better rates, products, and services for you.
Outside of simple banking needs, we also work hard to secure a number of Membership Benefits providing you with value and discounts in several aspects of your life.
Are You Sure
We see that you have elected not to accept our updated agreements. You must accept the terms of the updated agreements to continue using our online services. If you wish to decline consent to the terms of our agreements, the following will occur:
- Your access to our online services will be suspended.
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