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
Local Credit Union Satisfies All Needs
I use a local credit union, SECU, for all of my banking needs. SECU has all of the products necessary to do all of my banking with them. They have a vast array of deposit accounts; checking, savings, money market, and holiday cash savings programs. The SECU also has multiple loan options, these include mortgages, car loans, personal loans, and payday loans. I have used multiple deposit accounts and have held all loan options except the mortgage. I have had nothing but good experiences. The staff is down to earth and constantly wants to be helpful. I wouldn't choose to bank anywhere else, they are more like family than a bank.
Very Pleased
I have been a customer of a state employee's credit union for over thirty years now. I have always been very happy with this bank, except for the fact that it is a bit more difficult to use out of state. I do use the online banking method to do transactions and check my balance, but I wish there was an easier way to deposit money or get cash out from my account. I have one savings account, one checking account, one money market account, and two share accounts for my children at this bank. I got the savings account and checking account when I was younger. I added on the money market account when I was older because the annual interest rate was so much higher than any other option. The savings accounts are for my children for when they are older. I am so happy with this bank and I will never close my account with them.
Great Bank and Low Fees!
I have been with this bank for over 8 years. I love them for several reasons and not only because of their excellent customer service but also because they never over charge my bank accounts with unneccesary bank fees. They have no regular, monthly bank account fees and often they would completely waive Non sufficient fees. The monthly transfers in between my accounts is limited to a total of 6 transactions, which I do not particularly like. This can be avoided by making a phone call to my local branch and by asking them to do transfer on my behalf. They also have customer appreciation days, when they give out free food and drinks. In the summer they sell discounted theme-park tickets and watpark tickets, which we love! In tax seasons they offer free tax advice services. I have my mortgage with them, and I have never had an issue with them.
The only thing that I somewhat dislike about this bank is that they ofen have technical difficulties with their website which makes it difficult to access my account.
Dissatisfied Customer And Unethical Actions
This communique is to complain about NC State Employees Credit Union closing my cards, accounts and charging my loan off. Every two weeks money was deposited into the main checking account ending. NC SECU even took money out of my account before the paydates.
I thought an account could only charge off if payments ceased. I received no notification that this would occur.
Data as of Q4 2020
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 66310 |
| Year Chartered | 1937 |
| Employees | 7040 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.53% |
| Return on Equity - YTD | 6.48% |
| Annual Interest Income | $1.35B |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2020vs Q4 2019 | $47.38B$41.38B |
| Loans | Q4 2020vs Q4 2019 | $24.61B$24.46B |
| Deposits | Q4 2020vs Q4 2019 | $43.13B$37.46B |
| Equity Capital | Q4 2020vs Q4 2019 | $3.83B$3.51B |
| Loan Loss Allowance | Q4 2020vs Q4 2019 | $413.5MM$285.3MM |
| Unbacked Noncurrent Loans | Q4 2020vs Q4 2019 | $368.9MM$469.0MM |
| Real Estate Owned | Q4 2020vs Q4 2019 | $8.2MM$4.7MM |
