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State Employees' Credit Union (NC)

Popular Accounts at this Credit Union

APYACCOUNT TYPEACCOUNT NAME
1.75%5-year CD60 Months Share Term Certificate
1.00%1-year CD12 Months Share Term Certificate
0.75%SavingsShare Accounts

Overview / Commentary
919-839-5000
119 N Salisbury St
Raleigh, NC 27603

State Employees’ Credit Union is a North Carolina-based, state chartered credit union, and one of the largest credit unions in the United States. It offers personal banking and loan products, as well as credit card and investment services to its membership, which consists of employees of the state of North Carolina and their employees.

SECU’s personal banking products include checking, savings, Money Market, Certificate, and Individual Retirement accounts. The credit union’s checking account offers a competitive interest rate and comes with a $1 per month maintenance fee that is automatically donated to the SECU Foundation. A debit card, online bill pay, and 50 checks per statement are included for free with the checking account. Education and health savings accounts are available and offer tax incentives on saving money for school and medical costs. SECU’s basic savings account is called a share account and offers a competitive rate of interest and no monthly service charges. The Money Market Share account is similar to the basic share account, but has higher minimum opening deposit and minimum balance requirements. Certificate accounts are available in term lengths ranging from 6 to 60 months and come with fixed interest rates. SECU also provides estate planning, insurance, and investment guidance and planning.

State Employees’ Credit Union online banking provides access to web-based banking services like bill pay, check image viewing, Quicken financial management integration, and transaction history monitoring. SECU has also optimized its website for mobile banking, making it convenient and easy for members to access and manage their accounts via a smartphone or tablet device. The credit union is part of the CashPoint ATM network, which is North Carolina’s largest ATM network.

SECU was founded in 1937 in Raleigh, North Carolina, where its headquarters remain today. The credit union operates hundreds of branches located across the state of North Carolina. Branches offer services like coin sorting, safe deposit boxes, savings bonds, and tax preparation.

Field of Membership Restrictions

Membership in State Employees' Credit Union is open to employees of the state of North Carolina, employees of public boards of education, Federal employees working with the North Carolina government, employees of associations formed for the benefit of state of North Carolina employees, County employees of Social Services, Health, Mental Health and Civil Defense, members of the North Carolina National Guard, and immediate family of current members.
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The best choice for banking in NC

Posted by: idahuff88 | 23 hours ago

I have been a customer of the State Employees Credit Union (SECU) for over twenty years. It was one of the first places where I ever banked (because a parent was a state employee) and now I do the great majority of my banking with SECU. They consistently provide the highest level of customer service; it is not at all unusual for branch employees to recognize me and call me by name. Their checking and savings products are superb, without hidden fees and onerous minimum balances and better rates than most commercial banks. In addition, the money market savings account has great rates. Because it is owned by its members, SECU can focus on returning value to its members rather than shareholders.

In addition to savings and checking, I maintain a low-rate credit card and an account for bill payment with SECU. Their website makes checking balances, paying bills and opening new accounts very easy. SECU has an extensive network of ATMs in North Carolina. I also maintain my HSA with SECU, and use their brokerage service to manage my brokerage IRA. The brokerage service is through a partnership with Pershing, and offers access to many funds, as well as very competitive fees relative to commercial brokerages. I have access to an investment advisor if I need guidance. In addition to brokerage accounts, SECU offers a regular IRA with fixed return. I also use their safe deposit box service.

In lending relationships, SECU offers a number of mortgage and lending options. The best thing about having a borrowing relationship with SECU is that SECU owns the loan at all times; it isn't sold to another company in a confusing transaction.

SECU is consistently easy to do business with and dependable. The highly useful website and broad network of ATMs ensure that I don't spend more time than I need to inside a branch trying to transact basic business, but there are always helpful folks in the branch or in the call center if I need help.

SECU looks out for customers

I have banked in the past with SECU near my house. I have a checking account that offers a go-green checking option that pays a small percent back to me which is unheard of for a debit card related to a checking account. I was able to go in and explain my financial situation on day, and by the end of that day I was set up with an account and ready to go. I got my card later and was able to use it for all types of purchases. I had a few questions on the account and I called the representative that helped me. I got a returned call that same day and he obviously went above and beyond to cater to my needs. I strongly recommend the SECU.

Best bank I have ever used.

I have been a member of State Employees Credit Union for over 5 years and have always had a good experience. I chose this bank after reviews from family and friends who were current members. I have a savings, checking and money market account at this bank. I am only charged $1 a month for fees for my checking account, which I believe goes towards a scholarship fund. My experience with this bank has always been good. I am a person who frequently misplaces their debit card, and they have always been helpful with replacing it and getting it to me within a few days. They have always been good when I have unknown charges by helping figure them out. I love the fact that I can deposit money and checks at the ATM, as sometimes I do not feel like driving to the closest bank to do so. The only downfall I would have about this bank is that they need a mobile app. Even though you can access the site via mobile, having an app would be nice, too. They are also good with noting your accounts when you leave the country so that your transactions don't get blocked. I went out of the country for a few weeks and they were really good with monitoring my activity so that no charges from other places were allowed. I also get text alerts when I or anyone tries to access my account online and its not correct.

The best value for any family

For me it was incredibly easy to open up an account with the State Employees' Credit Union. While they do require that you open up a Share Account, which is basically just a savings account, this is a good way to set aside some extra money. I mostly use them for my checking account needs. Their fees are the lowest that I have found overall, when you take into account monthly fees, overdraft fees, and other charges that banks like to tack on. In addition, their Cashpoints ATM's are available almost everywhere and are free to use. This is an awesome perk since some banks can charge up to $3 or $4 for one transaction at an ATM.

Their customer service is moderate. They are somewhat friendly, but they certainly don't bend over backwards to help you. I have had difficulty with their website locking me out for no apparent reason, but it was easy to resolve with a phone call.

Overall, the savings and checking accounts are great and they even have free versions for children to use to help them start learning about how to manage money.

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Health
B+

Health Grade Components

Overall
NCUA #66310
Year Chartered1937
Employees6135
Primary Regulator
Profit Margin
Return on Assets - YTD0.62%
Return on Equity - YTD8.01%
Annual Interest Income$964.7MM
Assets and Liabilities
AssetsQ4 2016vs Q4 2015$35.03B$31.82B
LoansQ4 2016vs Q4 2015$20.14B$18.29B
DepositsQ4 2016vs Q4 2015$32.03B$29.07B
Equity CapitalQ4 2016vs Q4 2015$2.70B$2.48B
Loan Loss AllowanceQ4 2016vs Q4 2015$222.1MM$207.1MM
Unbacked Noncurrent LoansQ4 2016vs Q4 2015$343.6MM$310.2MM
Real Estate OwnedQ4 2016vs Q4 2015$6.4MM$7.4MM
Rates
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State Employees' Credit Union (NC) Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.51%$25-Traditional IRA
1.51%$25-Coverdell Education Savings Account (CESA)
1.51%--Health Savings (HSA)
1.51%$25-Roth IRA
1.51%$25-SEP IRA
1.00%--Summer Cash
0.75%$25-Share Accounts
0.75%--Holiday Cash Club
0.75%--FAT CAT Share
0.75%$25-Z-Share

State Employees' Credit Union (NC) Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.01%$250-Money Market

State Employees' Credit Union (NC) Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%--Checking (Share Draft)

State Employees' Credit Union (NC) CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.75%$250-48 Months Share Term Certificate
1.75%$250-60 Months Share Term Certificate
1.50%$250-36 Months Share Term Certificate
1.25%$250-18 Months Share Term Certificate
1.25%$250-24 Months Share Term Certificate
1.25%$250-30 Months Share Term Certificate
1.00%$250-6 Months Share Term Certificate
1.00%$250-12 Months Share Term Certificate
Locations

State Employees' Credit Union (NC) has 261 locations. Click to view all State Employees' Credit Union (NC) locations.