State Employees Credit Union

State Employees' Credit Union (SECU) is a North Carolina state chartered credit union headquartered in Raleigh, North Carolina regulated under the authority of the Credit Union Division of the NC Department of Commerce. SECU member deposits are insured by National Credit Union Administration (NCUA) of the U.S. federal government. SECU is the second largest natural member credit union in the United States, both in asset size and in membership. As of March 31, 2017, SECU has $36.5 billion in assets, over 2.1 million members, and 265 branches with locations in all of North Carolina's 100 counties.[3] SECU operates the no-fee CashPoints automated teller machine network, which is the largest ATM network in North Carolina.[4] Membership in the credit union is primarily limited to employees of the state of North Carolina and their immediate family or the immediate family of current SECU members.[5]

For the former credit union in Michigan, see Lake Trust Credit Union.
State Employees' Credit Union
Credit union
IndustryFinancial services
FoundedJune 4, 1937 (1937-06-04)
HeadquartersRaleigh, North Carolina, U.S.
Key people
Mike Lord (President & CEO)
ProductsSavings; checking; consumer loans; mortgages; credit cards; investments; online banking
Total assets $40.6B USD (June 2019)[1]
Number of employees
5,800[2]
Websitencsecu.org

History

State Employees' Credit Union was originally incorporated on June 4, 1937 by employees of the State of North Carolina. The credit union began with $437 in assets and 17 members and was first operated from the basement of Raleigh's Agriculture Building.[6] By 1960, the credit union grew to serve over 70,000 members and had assets of almost $25 million.[7]

SECU Foundation
SECU building in downtown Raleigh, NC.

The SECU Foundation was formed in 2004 by SECU to promote community development in North Carolina communities. The foundation funds projects in education, health care, and housing.

In 2009, SECU announced a $4 million grant to the North Carolina Museum of Natural Sciences for their planned Nature Research Center.[8]

References
  1. 'SECU Financial Status'
  2. Marc DeRoberts (May 2, 2016). "SECU CEO to retire". Triangle Business Journal. Retrieved June 29, 2018.
  3. Financial Status State Employees Credit Union website.
  4. "State Employees' Credit Union - CashPoints® ATM". www.ncsecu.org.
  5. Membership Eligibility State Employees Credit Union website.
  6. "State Employees' Credit Union Returns to its Roots in Raleigh's State Agriculture Building". Business Wire. December 12, 2008. Retrieved June 29, 2018.
  7. "State Employees' Credit Union Enhancing Current Economy and Building for the Future". Business Wire. May 29, 2009. Retrieved June 29, 2018.
  8. "State Employees' Credit Union members promote 'green' education effort". WRAL. December 1, 2009. Retrieved June 29, 2018.
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