SECU


Overview / Commentary
800-879-7328
971 Corporate Blvd
Linthicum, MD 21090

SECU is headquartered in Linthicum and is the largest credit union in the state of Maryland. It is also the 64th largest credit union in the nation. It was established in 1951 and as of June of 2023, it had grown to 365 employees and 251,609 members at 27 locations. SECU's CD rates are 4X the national average, and it has a B+ health rating.

Field of Membership Restrictions

Membership in SECU of Maryland is open to employees, retirees and contractors of the state of Maryland, employees of Anne Arundel County, alumni, students, faculty and staff of University System of Maryland Schools, employees of organizations located in Maryland that receive federal, state or local funding, and over 500 local Select Employer Groups
See current membership details

Very Good Personal Service!

Posted by: |

I have used SECU for more than 20 years. They are not perfect, but they try, their staff are always courteous. My loan officer is great, financing several mortgages, and beating a new home builder (Winchester) when their loan interest increased 60 days before closing and I could not find another mortgage in time! SECU came through.

Website good but not great, and despite phone delays, and they ALL have delays, you can get through.

Unfortunately last refi 2 years ago, I had to get a private mortgagee, my loan officer complained they were changing things! After rescuing me on my new home financing, he couldn't help refi from 3.875 to 2.75.

Extremely convenient. Checking services very good, bill pay very good. I have belonged to several others, but SECU is still my main financial institute. I have a Bank of America account, and have closed several other banks and credit unions. Always have at least 2 credit unions, always better than banks.

SECU is the Way To Go

I use State Employees Credit Union. In general it has been a good experience with their credit union, in general I get lower rates on several items and their fees are almost non-existent. In addition to this, it makes my banking fairly seamless across different categories. The main reason I use them though is that their money market funds tend to earn more interest than a typical bank. They also are not publicly traded, and involved with investment services, so I do feel that my money is a bit safer in their credit union.

In addition to this, it comes with extra benefits such as being able to withdraw funds for free and almost no ATM fees. It is one of the biggest advantages. They also don't require minimum balances, something that I have noticed that larger publicly traded banks do.

SECU for the win

Maryland State Employees Credit Union is a great credit union that offers all the services you would expect at reasonable prices. I've used both their checking and savings accounts and both have competitive rates. There's branches across the state of Maryland and they have plenty of ATMs for your convenience. I've also purchased CDs from them in the past. They have a wide variety of terms available for their CDs. Since I no longer live in Maryland, I do most of my banking with SECU online. Their website is pretty useful and I like it but I prefer banking in person because feel confident actually talking to a person. I really wish I could get my foreign banking transactions waived, it would make me much more likely to do more banking with SECU. But overall it's been a great credit union.

Getting Worse And Worse

Posted by: |

SECU MD; As time goes on this credit union is getting worse & worse not only in it's customer service but also in it's website options. SARA is absolutely useless as is some of their customer agents.
They are becoming like alot of other big companies, upper management doesn't want to know or doesn't care how things below them are in real time or are not being given honest information about customer service.
BUT, on the flip side there are those employees who are performing as expected in the treatment of their customers and do resolve issues and problems.

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Health
B+

Health Grade Components

Overall
NCUA #66330
Year Chartered1951
Employees365
Primary Regulator
Profit Margin
Return on Assets - YTD0.95%
Return on Equity - YTD13.13%
Annual Interest Income$108.0MM
Assets and Liabilities
AssetsQ2 2023vs Q2 2022$5.33B$5.11B
LoansQ2 2023vs Q2 2022$3.96B$3.80B
DepositsQ2 2023vs Q2 2022$4.42B$4.39B
Equity CapitalQ2 2023vs Q2 2022$385.9MM$363.8MM
Loan Loss AllowanceQ2 2023vs Q2 2022$0$24.0MM
Unbacked Noncurrent LoansQ2 2023vs Q2 2022$16.7MM$13.9MM
Real Estate OwnedQ2 2023vs Q2 2022$0$0
Rates
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Always verify rates and promotions with the bank or credit union. We are not SECU; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

SECU Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.35%$10-Business Savings
0.10%$10-Roth Contributory IRA
0.10%$10-Coverdell Education Savings Account
0.10%$10-Roth Conversion IRA
0.10%$10-Share Savings
0.10%$10-IRA Savings
0.10%--Holiday Savings
0.10%$300-Secured VISA Holding Account

SECU Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.50%*$1m*-Business High Yield Money Market
OTHER TIERS: 4.00% $100k - $250k | 4.25% $250k - $1m
1.59%*$250k*-Business Money Market
OTHER TIERS: 0.50% $2k - $5k | 0.75% $5k - $25k | 1.00% $25k - $50k | 1.19% $50k - $100k | 1.39% $100k - $250k
0.30%*$500k*-Advantage Money Manager
OTHER TIERS: 0.20% $25k - $100k | 0.25% $100k - $500k
0.20%*$100k*-Money Manager
OTHER TIERS: 0.10% $2k - $25k | 0.15% $25k - $100k

SECU Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.00%*$75k*-SECU Total – Platinum
OTHER TIERS: 0.10% Any amount | 0.15% $3.5k - $20k | 0.50% $20k - $75k
0.25%--Interest Earning Business Checking
0.15%*$20k*-SECU Total – Gold
OTHER TIERS: 0.10% Up to $20k
0.10%--SECU Total – Silver
0.05%$1k-SECU Total – Bronze

SECU CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.10%$500-9 Month CD
4.00%$500-12 Month Platinum CD
3.75%$100k-1 Year Jumbo CD
3.75%$500-12 Month Gold CD
3.55%$100k-2 Year Jumbo CD
3.55%$500-1 Year CD
3.55%$500-6 Month CD
3.40%$500-5 Year CD
3.40%$500-18 Month CD
3.40%$500-13 Month CD
3.35%$500-4 Year CD
3.30%$500-3 Year CD
3.30%$500-30 Month CD
3.30%$500-2 Year CD
3.25%$500-11 Month CD
3.15%$500-1 Year Add-On CD
3.00%$500-5 Year Step Up CD
2.00%$500-3 Month CD

SECU IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.00%$500-12 Month Platinum IRA
3.75%$100k-1 Year Jumbo IRA
3.75%$500-12 Month Gold IRA
3.55%$100k-2 Year Jumbo IRA
3.55%$500-1 Year IRA
3.40%$500-5 Year IRA
3.40%$500-18 Month IRA
3.40%$500-15 Month IRA
3.40%$500-13 Month IRA
3.35%$500-4 Year IRA
3.30%$500-3 Year IRA
3.30%$500-30 Month IRA
3.30%$500-2 Year IRA
3.00%$500-5 Year Step Up IRA
Locations

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