About Credit Union
The State Employees’ Credit Union (SECU) is a financial institution that was created to provide affordable financial services to employees of the state of North Carolina and their families. Founded in 1937, SECU is currently the second-largest credit union in the United States by asset size and the number of members.
SECU offers its members a range of financial services, including checking and savings accounts, loans, mortgages, and investment savings vehicles. In addition, SECU provides insurance products such as life insurance, home and auto insurance, and long-term care insurance and promotes local and community development through the SECU Foundation, a charitable organization funded by SECU individual members' contributions whose aim is to address community issues.
To become a member of SECU, individuals must be employed by the state of North Carolina or a related institution or be an immediate family member of an existing member. Once a person meets the eligibility requirements, they can join by opening a Share Account with an initial deposit of $25 or more.
SECU has a vast network of over 240 offices and 1,100 automated teller machines (ATMs) situated in every county in North Carolina, providing easy access to financial services for its members. The credit union is committed to serving the financial needs of its members by providing quality financial products and services, competitive rates, and exceptional customer service.
In conclusion, the State Employees’ Credit Union is a nonprofit financial institution that provides affordable financial services to employees of the state of North Carolina and their families. With its large asset size, extensive network, and commitment to its members, SECU is a valuable resource for state employee and those looking for quality financial services in North Carolina.
Key Features
The State Employee’s Credit Union (SECU) offers a range of key features that make it a valuable resource for its members. Some of these key features include:
Membership eligibility
Range of financial services
Competitive rates
Extensive network
Exceptional customer service
Overall, SECU is a valuable resource for individuals who are looking for affordable financial services and exceptional customer service in North Carolina. With its extensive network, competitive rates, and range of financial services, SECU is a credit union committed to meeting its members' needs.
Requirements
To become a member of the State Employees’ Credit Union (SECU), individuals must meet the eligibility requirements set by the credit union. Membership is limited to those who fall into the following categories:
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Employees of the state of North Carolina
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Federal employees assigned to North Carolina state agencies
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Employees of North Carolina public boards of education
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Members of the North Carolina National Guard
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County employees: Employees of Social Services, Health, Mental Health and Civil Defense of North Carolina counties
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Employees of associations formed for the benefit of the state of North Carolina employees
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Employees of agencies or departments whose employees are subject to the North Carolina State Personnel Act
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Individuals retired from the above employment or service as pensioners and/or annuitants
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Un-remarried spouses of persons who died while in the field of membership
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Immediate family members (spouse, parents, siblings, and children) of a current member
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Individuals sharing a single economic unit with a current member.
If an individual meets one of these eligibility requirements, they can become a member by opening a share account with a minimum deposit of $25. For children aged 12 and under, a FAT CAT share account can be opened with a minimum initial deposit of $5. Individuals can contact their local branch or SECU's 24/7 Member Services to get detailed information and request membership.
Overall, SECU's membership eligibility requirements are designed to serve the state of North Carolina and its residents, as well as their families and those who share an economic unit with them.
Access on the Go
The State Employees’ Credit Union (SECU) provides its members with easy access to its financial services on the go through a range of digital and mobile banking tools. These tools allow members to manage their finances from anywhere, at any time, using their mobile devices or computers.
SECU's digital banking tools include:
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Online banking. Members can access their accounts, view balances, transfer funds, pay bills, and more through State Employees’ Credit Union website.
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Mobile banking. SECU's mobile app (iOS and Android) provides members with access to their accounts and the ability to deposit checks, transfer funds, pay bills, and more.
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Text banking. Members can access their account balances and transaction history by texting SECU's designated phone number.
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Automated telephone banking. Members can use SECU's automated telephone banking system to check account balances, transfer funds, and more.
In addition to these digital banking tools, SECU also provides its members access to a network of over 1,100 ATMs throughout North Carolina. These ATMs allow members to withdraw cash, check account balances, and transfer funds.
Overall, SECU is committed to providing its members with convenient access to its financial services on the go. With its range of digital banking tools and extensive ATM network, SECU makes it easy for members to manage their finances from anywhere, at any time.
State Employees' Credit Union products
The State Employees’ Credit Union (SECU) provides full member access to a range of financial products and services to its members, including:
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Basic banking services. SECU offers checking and savings account opening opportunities to help members manage their money.
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Loans. SECU offers a range of loan products, including personal loans, student loans, automobile loans, and mortgages.
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Credit cards. SECU offers Visa credit cards with competitive rates and no annual fees.
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Investment services. SECU offers investment accounts to help members save for retirement and education. These accounts include low-cost diversified stock and bond mutual funds.
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Estate planning and trust services. SECU offers estate planning and trust services to help members plan for the future.
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Insurance products. SECU offers insurance products such as life insurance, home and auto insurance, and long-term care insurance.
SECU offers specialized products in the following categories:
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Auto. SECU offers GAP coverage, auto loans, and other products to help members finance and protect their vehicles.
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Mortgages. SECU offers adjustable-rate mortgages, fixed-rate mortgages, home equity lines of credit, and special mortgage programs to help members finance their homes.
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Personal. SECU offers open-end signature loans, salary advance loans, share-secured loans, and term notes to help members meet their personal financial needs.
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Student. SECU offers student loans to help members pay for higher education.
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Cards. SECU offers debit cards, Visa credit cards, and Visa gift cards to help members make purchases and manage their finances.
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Share and deposit accounts. SECU offers a range of share and deposit accounts, including checking accounts, holiday cash clubs, individual retirement accounts, money market shares, and share term certificates.
SECU provides its members with a wide range of financial products and services to help them manage their finances and plan for the future.
Which Associations does State Employees' Credit Union belong to?
State Employees' Credit Union is a member of some national and regional credit union associations. Some of these associations include:
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Credit Union National Association (CUNA) - a national trade association for both state and federally-chartered credit unions in the United States.
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National Association of State Credit Union Supervisors (NASCUS) - an organization that represents the interests of state-chartered credit unions and their regulators.
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Various state-level credit union leagues or associations that represent credit unions in their respective states.
State Employees' Credit Union Reliability
State Employees' Credit Union (SECU) is a reliable financial institution that is committed to providing its members with safe and secure financial services. Some of the ways that SECU ensures the privacy and security of its members include:
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Privacy and security policies. SECU has strict privacy policies in place to protect the personal information of its members. These policies outline how SECU collects, uses, and safeguards member information. SECU uses advanced security measures to protect its members' accounts and personal information. These measures include firewalls, encryption, and multi-factor authentication.
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HMDA. SECU complies with the Home Mortgage Disclosure Act (HMDA), which requires financial institutions to report certain information about mortgage applications and loans.
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Equal Housing Opportunity. SECU is committed to providing equal housing opportunities to all its members, regardless of their race, color, national origin, religion, sex, familial status, or disability.
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NMLS#430055. SECU is registered with the Nationwide Mortgage Licensing System and Registry (NMLS) as a licensed mortgage lender.
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Federally insured by NCUA. SECU is federally insured by the National Credit Union Administration (NCUA), which provides insurance coverage for up to $250,000 per depositor, per insured credit union, in case of a credit union failure.
Overall, SECU is a reliable and trustworthy financial institution that is committed to protecting the privacy and security of its members, complying with federal regulations, and providing equal housing opportunities to all its members.
State Employees' Credit Union vs. Local Government Federal Credit Union
State Employees' Credit Union (SECU) and Local Government Federal Credit Union (LGFCU) are both credit unions serving different membership bases in the United States, primarily in North Carolina. While both are not-for-profit financial institutions owned by their members, they cater to different groups and may have some distinctions in their products and services. Here are some key differences between the two:
Membership eligibility:
SECU. Membership in SECU is typically limited to employees of the state of North Carolina, public school employees, employees of state-chartered credit unions, and their immediate family members. Some county and municipal employees may also be eligible.
LGFCU. Membership is open to employees and volunteers of local governments in North Carolina, including city and county employees, elected officials, and employees of organizations with close ties to local governments. Immediate family members and household members of existing LGFCU members are also eligible.
Branch locations and network:
SECU. With over 250 branches across North Carolina, SECU has an extensive physical presence in the state, which may be more convenient for some members.
LGFCU. LGFCU has a more limited number of physical branches, but they have a shared branching agreement with the SECU. This allows LGFCU members to access their accounts and conduct transactions at any SECU branch, giving them access to the same extensive branch network.
Products and services:
Both SECU and LGFCU offer a wide range of financial products and services, including savings and checking accounts, loans, credit cards, mortgages, and investment options. There may be some differences in specific product offerings, rates, and fees, which can be best assessed by reviewing their respective websites or contacting them directly.
Community focus:
While both credit unions are focused on serving their respective communities, their community outreach initiatives and scholarship programs may vary. You can learn more about their specific community programs and charitable giving on their websites.
To determine which credit union best fits your needs, it's essential to research and compare their products, services, fees, and member benefits, and take into account your eligibility for membership. You can visit their websites for up-to-date information.
