State Employees Credit Union

For the former credit union in Michigan, see Lake Trust Credit Union.
State Employees' Credit Union
Credit union
Industry Financial services
Founded June 4, 1937 (1937-06-04)
Headquarters Raleigh, North Carolina, U.S.
Key people
 Mike Lord (President & CEO)
Products Savings; checking; consumer loans; mortgages; credit cards; investments; online banking
Total assets Increase $33.3B USD (March 2016)[1]
Number of employees
 5,800 [2]
Website ncsecu.org

State Employees' Credit Union (SECU) is a 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 May 2014, SECU has $28.6 billion in assets, 1.9 million members, and 254 branches with locations in all of North Carolina's 100 counties.[3] Membership in the credit union is limited to employees of the state of North Carolina and their families.

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.[4] By 1960, the credit union grew to serve over 70,000 members and had assets of almost $25 million.[5]

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.[6]

References

  1. ↑ 'Grassroots May 2016'
  2. ↑ 'SECU CEO to retire' Triangle Business Journal. 2 May 2016.
  3. ↑ State Employees Credit Union website.
  4. ↑ State Employees' Credit Union Returns to its Roots in Raleigh's State Agriculture Building. International Business Times. 12 December 2008.
  5. ↑ State Employees’ Credit Union Enhancing Current Economy and Building for the Future. Carolina Newswire. 1 June 2009.
  6. ↑ State Employees' Credit Union members promote 'green' education effort. WRAL. 1 December 2009.
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