With an extremely small amount of capital (raised through a bake sale!), Self-Help Credit Union got its start in the early 1980s to help North Carolina workers get financing. Today, Self-Help Credit Union is a part of the Self-Help family of nonprofit organizations – which includes two credit unions (Self-Help Credit Union and Self-Help Federal Credit Union), a loan fund (Self-Help Ventures Fund), and a research and policy organization (Center for Responsible Lending). Self-Help Credit Union focuses on communities throughout North Carolina.
In addition to consumer loans and financial services, Self-Help Credit Union offers various deposit banking products. These include checking accounts, saving accounts, money market accounts, Individual Retirement Accounts (IRAs), Certificates of Deposit (CDs), and IRA CDs.
The credit union offers “premium” checking accounts, which yield better interest rates in return for a larger initial deposit and minimum average daily balance. In addition to basic savings accounts and Health Savings Accounts (HSAs), it also provides savings accounts for children and for special purposes (such as holiday expenses). Self-Help’s checking and savings accounts all offer convenient online and mobile banking, as well as nationwide ATM access.
Self-Help’s money market accounts earn dividends in two tiers, depending upon the balance of the account. The credit union’s CD terms range from 3 months to 60 months. As for IRA products, Self-Help provides both Traditional and Roth IRAs. It also offers the option to open a CD and/or savings account within the IRA. The terms for IRA CDs range from 12 to 60 months.
On the corporate side, Self-Help Credit Union also offers business savings accounts, business money market accounts, and business CDs. Its business savings accounts have very low required initial deposits to open, and they can easily be linked to other accounts. Self-Help’s business money market accounts offer two dividend tiers depending upon account balance, just like the personal money market options. Finally, Self-Help’s business CDs also range in terms from 3 to 60 months, with higher interest rates for longer terms. The credit union also offers “community-friendly term certificates,” in which the deposits specifically help Self-Help to support the environment, women and children, and local businesses in North Carolina.
Field of Membership Restrictions
Membership in Self-Help Credit Union is open to anyone through joining the Center for Community Self-Help ($5 membership fee). Membership is also open to those live, work, worship, or attend school in Washington, Hyde, Beaufort, or over other 40 counties in North Carolina.
See current membership details
Have To Admit..I Love Self-Help Credit Union
I did not choose Self-Help. It was done for me, and at the time, I was livid that I was taken out of the decision loop.
I was with Piedmont Advantage Credit Union for years. Around 2021, they decided to close my local branch. They automatically transferred my account to Self-Help CU. I was angry and really expecting the absolute worst from my new credit union.
Well, it's been a few years now. I have to admit that I was wrong. This is a great credit union, and they have been the absolute best to me.
Give these guys a try. They are professional and care about their members.
Data as of Q4 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 66258 |
| Year Chartered | 1983 |
| Employees | 299 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.05% |
| Return on Equity - YTD | 9.81% |
| Annual Interest Income | $95.8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2024vs Q4 2023 | $1.98B$1.76B |
| Loans | Q4 2024vs Q4 2023 | $1.66B$1.54B |
| Deposits | Q4 2024vs Q4 2023 | $1.43B$1.24B |
| Equity Capital | Q4 2024vs Q4 2023 | $206.1MM$181.3MM |
| Loan Loss Allowance | Q4 2024vs Q4 2023 | $48.1MM$47.8MM |
| Unbacked Noncurrent Loans | Q4 2024vs Q4 2023 | $18.9MM$15.2MM |
| Real Estate Owned | Q4 2024vs Q4 2023 | $86K$0 |
