State Employees’ Credit Union (SECU) is a member-owned, not-for-profit financial cooperative that offers a wide range of financial services tailored to meet the needs of state employees and their families. With a strong commitment to service, competitive rates, and a focus on community support, SECU has established itself as a trusted financial institution. This blog post provides an in-depth look at SECU, its services, and the benefits of membership.
What is State Employees’ Credit Union?
Founded in 1937, State Employees’ Credit Union primarily serves state and public school employees and their families. Headquartered in Raleigh, North Carolina, SECU has grown to become one of the largest credit unions in the United States, with over 270 branches and more than 2.6 million members. SECU’s mission is to provide high-quality financial products and services while maintaining a strong focus on member satisfaction and community involvement.
Key Features of State Employees’ Credit Union
- Exclusive Membership: Tailored services for state employees, public school employees, and their families.
- Wide Range of Financial Products: From savings accounts to loans, SECU offers comprehensive financial solutions.
- Competitive Rates: Lower fees and better interest rates compared to many traditional banks.
- Community Focus: Active involvement in local communities through various programs and initiatives.
Membership Eligibility
Membership at SECU is available to:
- Employees of the state of North Carolina and their families.
- Public school employees in North Carolina.
- Retirees of the above organizations.
- Immediate family members of current SECU members.
To become a member, you can apply online or visit a branch. You’ll need to provide proof of eligibility, such as a state employee ID or documentation of employment with a public school.
Financial Products and Services
1. Savings and Checking Accounts
SECU offers a variety of savings and checking account options to meet different financial needs:
- Share Account: A basic savings account that establishes your membership with SECU.
- Checking Account: No monthly fees, free bill pay, and access to over 1,100 ATMs.
- Money Market Account: Higher dividend rates for larger balances.
2. Certificates of Deposit (CDs)
SECU’s Certificates of Deposit offer fixed dividend rates over specific terms, providing a secure way to grow your savings:
- Standard CDs: Terms ranging from 6 months to 5 years.
- Jumbo CDs: Higher minimum deposit with increased interest rates.
3. Loans and Credit Cards
SECU provides a range of loan products with favorable terms:
- Auto Loans: Competitive rates and flexible terms for new and used vehicles.
- Personal Loans: Fixed rates and flexible amounts for various personal expenses.
- Mortgage Loans: A variety of mortgage options, including conventional, FHA, and VA loans, with competitive rates and low fees.
SECU also offers several credit card options with benefits tailored to different spending habits and financial goals:
- Cash Back Visa®: Earn cash back on every purchase.
- Visa® Platinum: Lower interest rates, ideal for balance transfers.
- Share Secured Visa®: Helps build or rebuild credit with a secured deposit.
4. Investment and Retirement Services
SECU provides investment and retirement planning services to help members build and secure their financial future:
- Retirement Accounts: Traditional and Roth IRAs, as well as SEP IRAs for self-employed individuals.
- Investment Services: Access to financial advisors and a range of investment options, including mutual funds and annuities.
5. Insurance Services
SECU offers insurance products to protect members and their families:
- Life Insurance: Term and whole life insurance options.
- Auto Insurance: Competitive rates and comprehensive coverage options.
- Homeowners Insurance: Protection for your home and belongings.
Benefits of State Employees’ Credit Union
1. Member-Focused Service
SECU prioritizes member satisfaction by offering personalized financial solutions and dedicated support throughout the loan and banking processes.
2. Lower Fees and Better Rates
As a not-for-profit financial institution, SECU returns earnings to members in the form of lower fees, better interest rates, and improved services.
3. Financial Education
SECU provides a wealth of financial education resources, including online tools, calculators, and informative articles, to help members make informed financial decisions.
4. Community Involvement
SECU is actively involved in supporting local communities through various programs and initiatives, such as scholarships, charitable donations, and financial literacy education.
Getting Started with State Employees’ Credit Union
To join SECU, start by visiting their official website and completing the membership application. You’ll need to provide proof of eligibility and make an initial deposit into your share account. Once you’re a member, you can take advantage of the full range of financial products and services SECU has to offer.
Conclusion
State Employees’ Credit Union stands out as a premier financial institution dedicated to serving state and public school employees and their families. With a wide array of financial products, competitive rates, and exceptional customer service, SECU is well-equipped to help you achieve your financial goals. Whether you’re looking to save, invest, or borrow, SECU has the solutions you need.
For more information, visit the State Employees’ Credit Union official website and start your journey towards financial success today.
