Ever wondered what makes the State Employees' Credit Union (SECU) so unique? Founded in 1937, SECU has grown to become one of the largest credit unions in the United States. With over 2 million members, it offers a wide range of financial services tailored to meet the needs of state employees and their families. Unlike traditional banks, SECU operates as a not-for-profit organization, meaning profits are returned to members through lower fees and better interest rates. Curious about how SECU supports its community? From educational scholarships to disaster relief efforts, SECU is deeply committed to making a positive impact. Ready to learn more? Let's dive into 20 fascinating facts about SECU!
What is the State Employees' Credit Union?
The State Employees' Credit Union (SECU) is a member-owned, not-for-profit financial cooperative. It serves employees of the state of North Carolina and their families. Here are some fascinating facts about SECU.
- SECU was founded in 1937 with just $437 in assets. Today, it has grown to over $50 billion in assets.
- Membership is open to state employees, their families, and select employee groups in North Carolina.
- SECU operates over 270 branch offices and more than 1,100 ATMs across North Carolina.
- The credit union offers a wide range of financial services, including savings accounts, loans, mortgages, and investment options.
- SECU is the second-largest credit union in the United States by asset size.
SECU's Commitment to Education
SECU places a strong emphasis on education, providing numerous resources and programs to support its members' educational goals.
- SECU Foundation awards $10,000 scholarships to high school seniors attending one of the 16 constituent campuses of the University of North Carolina System.
- The SECU People Helping People Scholarship program has awarded over $50 million in scholarships since its inception.
- SECU also offers financial literacy programs to help members make informed financial decisions.
- The credit union provides internships and career opportunities for students and recent graduates.
Community Involvement and Philanthropy
SECU is deeply committed to giving back to the community through various philanthropic efforts and volunteer activities.
- SECU Foundation has funded numerous community projects, including health clinics, educational facilities, and housing initiatives.
- The credit union supports disaster relief efforts, providing financial assistance and resources to affected communities.
- SECU employees volunteer thousands of hours annually to support local charities and community events.
- The credit union partners with organizations like Habitat for Humanity to build homes for families in need.
SECU's Financial Products and Services
SECU offers a comprehensive range of financial products and services designed to meet the diverse needs of its members.
- SECU provides low-interest loans for cars, homes, and personal needs, making it easier for members to achieve their financial goals.
- The credit union offers competitive rates on savings accounts, certificates of deposit, and money market accounts.
- SECU's mortgage options include fixed-rate and adjustable-rate loans, as well as special programs for first-time homebuyers.
- Members can access their accounts and manage their finances through SECU's online banking platform and mobile app.
SECU's Unique Features
SECU stands out from other financial institutions due to its unique features and member-focused approach.
- SECU's not-for-profit status means that profits are returned to members in the form of lower fees and better rates.
- The credit union operates a 24/7 Member Services Support Center to assist members with their financial needs at any time.
- SECU's commitment to transparency and ethical practices has earned it a reputation for trustworthiness and reliability.
Final Thoughts on SECU
State Employees' Credit Union (SECU) stands out for its commitment to members. With a rich history dating back to 1937, SECU has grown into a financial powerhouse, serving over 2 million members. They offer a wide range of services, from savings accounts to mortgage loans, all designed with the member's best interest in mind. Their focus on community support and financial education sets them apart from traditional banks. SECU's not-for-profit status means profits are reinvested into better rates and lower fees for members. Their dedication to innovation ensures they stay ahead in providing convenient, secure banking solutions. Whether you're a state employee or a family member, SECU offers a reliable, member-focused banking experience. So, if you're looking for a financial institution that truly cares about your financial well-being, SECU might just be the perfect fit.
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