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State Employees' Credit Union (NC)

Popular Accounts at this Credit Union

2.00%5-year CD60 Months Share Term Certificate
1.25%1-year CD12 Months Share Term Certificate
0.75%SavingsShare Accounts

Overview / Commentary
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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I have only encountered one problem in the 6-7 years I have had my account here. The problem is cashing a check from a Canadian company that I do some online work for a few times a month. The check had to be sent out to a third party and took about a month to be credited to my account, but they credited it in USD so I gained about 20% pay on that deal so I wasn't all that displeased with the issue, although it's an ongoing one as I will regularly get checks from this Canadian business. As long as I keep getting the 20% exchange bonus though I can't be too unhappy.
My account fees are only $1/m but I get .25% interest on checking and .75% on savings with nothing else needed. The CD rate I get is 1.5% on 36m, so that's good. I never have too much problem with service or waiting at my branch, but I work at night so I usually go at off hours. The staff is always pleasant and helpful, and they don't charge for financial advise like when I bought they CD's from them and transferred them from a traditional bank. I'm very happy with the CU overall.

State employees credit Union. Nc

I banked with the State Employees Credit Union for 3 years until the local branch in my area moved too far away. In 2015 my wallet was stolen including my debit card. I went to the bank to report it and discovered that 125$ had already been fraudulently taken from my account. The employee who I dealt with was so helpful and sympathetic and genuine. Alot of times in these situations the people you deal with don't seem to genuinely care but she did. I filled out some paper work and was told it could take a few days for the money to be refunded. It was a really big deal because it was the money I was going to pay my rent with. I had the money back the very next evening and was able to pay my rent on time. I love that there is no fee for using their atm which was the main reason I choose to switch from Bank of America to state employees credit union. I would again bank with them if I ever live close enough to a local branch again.

Glad we became members of SECU

My wife is a teacher in the state of North Carolina, so we were able to get membership into SECU. We had heard good things about it and her colleagues had recommended we join. We opened a joint checking and a connected savings account and have been very pleased. The customer service is well-above what you get these days and the cost and fees are much lower than the big bank branches.

The mobile app and functionality is definitely lacking behind the bigger, national bank brands as they don't offer mobile deposits or a whole lot beyond text alerts and balance inquiries. The friendly service and low fees manage to offset our disappointment with mobile banking. Would highly recommend to anyone who qualifies for membership. We are planning on investigating their home refinance options in the near future.

Satisfied customer

I have banked with SECU for more than 12 years. My family has used this bank for more than 30 years. I have always had very good customer service. I have visited multiple bank locations across the state. Staff are friendly across bank locations. They easily explain information without making you feel bad for not knowing financial terms. I have three accounts with SECU. Accounts are easy to open and manage. Security is on point. I feel my experience and financial security is a priority to them. My only negative comment is that online banking could be updated. Compared to other banks SECU does not offer the same quality and modern services. Other banks offer more digital services and conveniences than SECU does. Overall I am satisfied with this institution.



Health Grade Components

NCUA #66310
Year Chartered1937
Primary Regulator
Profit Margin
Return on Assets - YTD0.6%
Return on Equity - YTD7.83%
Annual Interest Income$272.0MM
Assets and Liabilities
AssetsQ1 2017vs Q1 2016$36.51B$33.32B
LoansQ1 2017vs Q1 2016$20.43B$18.65B
DepositsQ1 2017vs Q1 2016$33.44B$30.44B
Equity CapitalQ1 2017vs Q1 2016$2.76B$2.60B
Loan Loss AllowanceQ1 2017vs Q1 2016$222.4MM$225.9MM
Unbacked Noncurrent LoansQ1 2017vs Q1 2016$213.8MM$294.5MM
Real Estate OwnedQ1 2017vs Q1 2016$8.5MM$8.8MM
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State Employees' Credit Union (NC) Savings Account Rates

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

State Employees' Credit Union (NC) Money Market Rates

1.01%$250-Money Market

State Employees' Credit Union (NC) Checking Account Rates

0.25%--Checking (Share Draft)

State Employees' Credit Union (NC) CD Rates

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

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