Over 2 million members now being served by State Employees’ Credit Union!
RALEIGH, NC (July 23, 2015) — As of June 2015, State Employees’ Credit Union (SECU) is now more than 2 million members strong – a milestone reached through steady growth and a service-driven focus. Based solely in North Carolina, the not-for-profit, member-owned cooperative serves state government and public school employees and their families. SECU carries a large footprint statewide with 254 branch locations, 1,100 no-surcharge CashPoints® Automated Teller Machines (ATMs), 24/7 Contact Centers and an online presence at www.ncsecu.org, making services easily accessible and convenient to where members live and work. In the last five years, the Credit Union opened 22 branches, meeting the goal of having a branch in all 100 North Carolina counties.
The Credit Union was founded in 1937 on the “People Helping People” philosophy and has held true to the cooperative spirit and a “Do the Right Thing!” motto. These principles have guided SECU in its mission to provide a comprehensive line of low-cost, consumer-friendly products and services, keeping more money in the pockets of members. A fall 2014 Member Services Survey showed an exceptionally high 89% of members consider SECU to be their primary financial institution – a statistic that indicates members view SECU as a trusted financial services provider.
Based on a recent report published by Dr. William E. Jackson III, The 2014 Report on Financial Benefits of Membership in State Employees’ Credit Union of North Carolina, SECU’s member satisfaction can also be attributed to the exceptional value provided by the Credit Union, translating to over $750 million – 3/4 of a billion dollars – annually in member savings! For the report, Dr. Jackson, who holds the appointments of Professor of Finance, Professor of Management, and the Smith Foundation Endowed Chair of Business Integrity in the Culverhouse College of Commerce at the University of Alabama, researched and documented member savings in a number of categories, including lower rates on loans, higher rates on deposits and lower fees. Of the ways that SECU provided financial benefits to its members, the category he determined to have the largest impact in 2014 was lower fees on products and services, saving members more than $380 million.
“SECU is committed to providing members with products and services that meet their needs in a convenient and affordable way, while keeping their best interests at heart,” said Jim Johnson, Chairman of SECU’s Board of Directors. “For a credit union that doesn’t use traditional advertising, crossing the two million member mark is a wonderful achievement that demonstrates our members’ belief in the Credit Union, as well as their willingness to serve as word-of-mouth marketers. SECU’s steady growth and continued safety and soundness since our humble beginnings in 1937 are the result of the tireless work of many, including current and previous Board of Directors, SECU’s dedicated staff, volunteers and members who support their Credit Union and believe in the cooperative model.”
A not-for-profit financial cooperative owned by its members, SECU has been providing employees of the State of North Carolina and their families with consumer financial services for 78 years. The Credit Union also offers a diversified line of financial advisory services including retirement and education planning, tax preparation, insurance, trusts, estate planning and investments through its partners and affiliated entities. SECU serves 2 million members through 254 branch offices, over 1,100 ATMs, 24/7 Contact Centers and a website, www.ncsecu.org.