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State Employees' Credit Union (NC)

Popular Accounts at this Credit Union

APYACCOUNT TYPEACCOUNT NAME
2.00%5-year CD60 Months Share Term Certificate
1.25%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.
See current membership details

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Just Like Family

I currently have a savings and checking account with State Employees Credit Union (SECU). I love the State Employees Credit Union (SECU). The tellers are very friendly and they always try to get you in and out when you are at the bank. I use the drive up teller also and the two tellers at the window always call my by name which lets me know they know me. I pay a $1.00 a month to bank with the credit union and I make that back with the interest on my accounts. Any time I have a problem or concern the staff are quick to get it handled. I also love that when I am out of town they will note the account so that I don't have any trouble making purchases. The State Employees Credit Union (SECU) really cares about it's members. I feel like I am family with the people at the State Employees Credit Union (SECU). I could not see myself banking anywhere else. I love them so much that I am currently looking into moving more of my accounts there.

My experience with SECU

I am a member of the State Employees Credit Union of North Carolina. I have not ever worked for the state, but my mother and grandfather both did at some point in their lives. My experience started when I was a child, when my parents made me open a FAT CAT account, which was a saving account for children. They made me put half the money I was given or earned into this account. At the time, I resented it, but I have never had less than a thousand dollars in savings in my adult life, so for that I'm grateful. The FAT CAT account transitioned into a regular savings account when I turned 18, and that was when I was given sole power over it. At that time, my parents also took me to get a cash points global card, and a checking account card. They give me money through the checking account, my mother has access to it but cannot see any of my other funds. All in all I think State Employees Credit Union is much fairer than other banks, and I've been a bit spoiled- I've never been charged a fee for over-drafting or an upkeep fee of more than a dollar. I would recommend this bank to anyone who is able to meet the admission requirements.

NC SECU

I had a savings account set up for me as a child at NC State Employee's Credit Union. There was not a lot of activity with the account for most of my young life, and my mom switched account ownership into my name when I turned 18. I started depositing earnings from my first job into this account, and because I was working as a waitress, it was usually cash. I was able to use the tellers inside the bank, the drive through bank window and the ATM without incident. The cash always hit my account in a timely manner and it was easy to access my money. Later in my life, once I was married, NC SECU made it easy to add my husband to the account. I would highly recommend banking with the North Carolina State Employees Credit Union.

Great fees but outdated

I have heard so many positive things about being a member of a credit union so when I was eligible, I jumped at the chance. I found the bank to have higher fees for checking. I could get a free account at most banks as a student and then as an adult some banks such as BB&T would pay me $50 to open an account. I could get a checking account at NCSECU for $1 that would be an interest bearing account but I wouldn't make my money back in interest each month so I went with BB&T on that.

I did however get the Cash Account and open up share accounts for each of my children and Money Market accounts for each of my children and myself. The rates at the credit union for Money Market accounts are much better than a regular bank. When I go to a physical branch things at the credit union are slower. I looked into opening an IRA for my kids there but found the NC 529 plan to be a better option. I had some CDs with the bank at one time but found that I would have to hold the CD a long time for it to get a much better interest rate than a Money Market so I just started using the money market to free up my funds. I am able to get discounts from this bank on VISA gift cards and Carrowind's tickets and they will write me free certified type checks over a certain amount. Overall I am pleased with the bank but wish they would get their website to be a little more in touch with today's standards of paying bills and more freedom to do things online.

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Health
B+

Health Grade Components

Overall
NCUA #66310
Year Chartered1937
Employees6277
Primary Regulator
Profit Margin
Return on Assets - YTD0.74%
Return on Equity - YTD9.53%
Annual Interest Income$553.6MM
Assets and Liabilities
AssetsQ2 2017vs Q2 2016$36.88B$33.79B
LoansQ2 2017vs Q2 2016$20.94B$19.20B
DepositsQ2 2017vs Q2 2016$33.73B$30.87B
Equity CapitalQ2 2017vs Q2 2016$2.83B$2.63B
Loan Loss AllowanceQ2 2017vs Q2 2016$228.4MM$224.3MM
Unbacked Noncurrent LoansQ2 2017vs Q2 2016$325.8MM$293.5MM
Real Estate OwnedQ2 2017vs Q2 2016$7.5MM$9.5MM
Rates
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State Employees' Credit Union (NC) Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.51%$25-IRA Savings - Variable Rate
1.51%$25-Coverdell Education Savings Account (CESA)
1.51%--Health Savings (HSA)
1.25%--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
2.00%$250-60 Months Share Term Certificate
1.75%$250-36 Months Share Term Certificate
1.75%$250-48 Months Share Term Certificate
1.50%$250-24 Months Share Term Certificate
1.50%$250-30 Months Share Term Certificate
1.25%$250-12 Months Share Term Certificate
1.25%$250-18 Months Share Term Certificate
1.00%$250-6 Months Share Term Certificate
Locations

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