State Employees' Credit Union (NC)


Overview / Commentary
919-839-5300
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

Local Credit Union Satisfies All Needs

Posted by: |

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

Posted by: |

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.

NCSECU Banking Experience

Posted by: |

For the most part I have had a pleasant experience working with this bank. They are always attentive and helpful, rates are great, and no hidden fees. If I had to improve on anything it would be the addition of an App for mobile check depositing as the drive to the bank is out of the way.
One issue I did have with this bank was when it was time to get new cards because the one I had were expiring. The cards had been mailed out a month prior to my call to customer support and only one of the two had come in. We had recently had issues with mail being stolen out of not only our, but our neighbors mail was being stolen. I called into customer support to request new card for the one that had not yet arrived. Instead of issuing a new card for the new card, they canceled the new card I had received, and issued a new one. When I realized this I was in the grocery store trying to buy groceries and was beyond frustrated. I had to call in again and get the other card canceled and sent out, and they promised to undo the cancellation of the good card...it didn't get undone and I still had to wait another 2 weeks to have cards that worked.

NCSECU

I have been banking with the North Carolina State Employees Credit Union since 2009, shortly after I married my husband, who also had an account there. We have a both a checking account and a savings account there. We have also been very happy with the services NCSECU provides, this being that we had moved from a joint account as Wells Fargo. We like that NCSECU does not pressure you into going digital, by not sending paper copies of your monthly statement, but rather sending full paper copies to our mailbox each month for both our checking and savings account. I like that I do not have to pay extra money though, to access my account online. I especially like that I can view digital copies of checks I have written, in case I forget what they were for. I earn interest on both my checking and savings accounts, and the money fees for having accounts there are very minimal and extremely reasonable. If I ever have a question on my account, I can call a toll-free number and they will get down to the bottom of it. One time, someone stole our account information and used it to buy college textbooks. When I called it into question, SECU immediately refunded the money. I also like that they double check any strange or different checks I bring them to ensure it is not a scam that I might get charged for. My only complaint is that they prefer to do in-house business with you at the specific bank you opened your account at - which is not always convenient for me.

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Health

Health Grade Components

Overall
NCUA #66310
Year Chartered1937
Employees6948
Primary Regulator
Profit Margin
Return on Assets - YTD1.08%
Return on Equity - YTD14.06%
Annual Interest Income$323.2MM
Assets and Liabilities
AssetsQ1 2021vs Q1 2020$49.63B$42.85B
LoansQ1 2021vs Q1 2020$24.17B$24.67B
DepositsQ1 2021vs Q1 2020$45.45B$38.79B
Equity CapitalQ1 2021vs Q1 2020$3.74B$3.69B
Loan Loss AllowanceQ1 2021vs Q1 2020$406.3MM$300.7MM
Unbacked Noncurrent LoansQ1 2021vs Q1 2020$209.6MM$441.4MM
Real Estate OwnedQ1 2021vs Q1 2020$2.5MM$6.6MM
Rates
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State Employees' Credit Union (NC) Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.60%--Summer Cash June/July Payment Election
0.60%--Summer Cash July/August Payment Election
0.45%$25-IRA Savings - Variable Rate
0.45%$25-Coverdell Education Savings Account (CESA)
0.45%--Health Savings (HSA)
0.10%$25-Share Accounts
0.10%--Holiday Cash Club
0.10%$5-FAT CAT Share
0.10%$25-Zard Share

State Employees' Credit Union (NC) Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.15%$250-Money Market

State Employees' Credit Union (NC) Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%--Checking (Share Draft)
0.05%--Zard Checking

State Employees' Credit Union (NC) CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.55%$250-60 Month Share Term Certificate
0.50%$250-36 Month Share Term Certificate
0.50%$250-48 Month Share Term Certificate
0.40%$250-24 Month Share Term Certificate
0.40%$250-30 Month Share Term Certificate
0.35%$250-12 Month Share Term Certificate
0.35%$250-18 Month Share Term Certificate
0.30%$250-6 Month Share Term Certificate
Locations

Availability



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