SECU ready to assist members facing income loss due to COVID-19
RALEIGH, NC (April 1, 2020) — State Employees’ Credit Union (SECU) stands ready to help members financially impacted by the COVID-19 pandemic. Because of unexpected, large scale business closures, loss of jobs and reductions in hours, many members are struggling financially and need assistance to stay afloat during this unprecedented time.
SECU has a variety of lending assistance programs in place, including its Mortgage Assistance Program—a program implemented during the Great Recession in 2009 that has helped 11,000 members and counting remain in their homes. These programs, available for eligible SECU home, vehicle, credit card and unsecured personal loans, provide a variety of assistance options for members who have experienced a job loss, a reduction in hours or other income impairment and cannot make their loan payments on time. Options include payment extensions, partial payment plans, forbearance and refinancing of existing debt.
“Our members have endured many weather-related and economic storms over the years, but this pandemic is unlike anything we have ever faced,” said SECU President/CEO Mike Lord. “SECU is a financial first responder. As a member-owned, financial cooperative founded on the ‘People Helping People®’ philosophy, we are here to help you get through this event. We entered it together and we will get through it together.” Lord continued, “We ask for, and very much appreciate, your patience as you navigate the disruptions of drive-thru-only service at our branch offices and the delays in phone services caused by increased call volumes. In order to better provide services to you, we ask that you please first use our internet services, Member Access (www.ncsecu.org) and SECU’s Mobile App, where you can send us secure messages and perform most of the financial transactions you would conduct at a branch. Thereafter, please call 24/7 Member Services Support or your local branch to discuss lending assistance options. This will help us help you. Thank you!”
About SECU and the SECU Foundation
A not-for-profit financial cooperative owned by its members, and federally insured by the National Credit Union Administration (NCUA), SECU has been providing employees of the state of North Carolina and their families with consumer financial services for over 85 years. SECU is the second largest credit union in the United States with $50 billion in assets. It serves over 2.7 million members through 274 branch offices, over 1,100 ATMs, Member Services Support via phone, www.ncsecu.org, and a Mobile App. The SECU Foundation, a 501(c)(3) charitable organization funded by the contributions of SECU members, promotes local community development in North Carolina primarily through high-impact projects in the areas of housing, education, healthcare, and human services. Since 2004, SECU Foundation has made a collective financial commitment of over $235 million for initiatives to benefit North Carolinians statewide.
World Council has implemented 300+ technical assistance programs in 90 countries. Worldwide, 86,451 credit unions in 118 countries serve 375 million people. Learn more about World Council's impact around the world at www.woccu.org.