SECU’s Estate Planning Essentials Program launches with new loan feature!
Leigh Brady, Senior Vice President
Education Services, SECU
919-807-8344, fax: 919-807-8348
Raleigh, NC, March 18 – State Employees’ Credit Union (SECU) recently piloted a successful Estate Planning Essentials Program to volunteers and has now launched the program to members statewide – this time with an added loan feature. The Credit Union began offering the Estate Planning Essentials Program to fill member needs for basic estate planning, including a will, which is a critical element of any financial plan. The added feature of a new loan product will now help those who do not have a will and are deterred by the expense of having one prepared. The loan, currently at a low 10.75% rate, will allow members up to 12 months to pay for the program, an average monthly cost of approximately $32.00. To date, over 3,000 members, including employees and volunteers, have participated in the program.
Through the Estate Planning Essentials Program, a member’s estate planning package can include a will with possible trust provisions, a Durable Power of Attorney (POA), a Healthcare Power of Attorney (HPOA) and Living Will, and a HIPAA Authorization, all prepared by an experienced estate planning attorney who has agreed to complete the documents at a set member price. Services included in this basic program are priced at $250 for an individual and $350 for a couple with substantially similar estate plans whose documents are prepared at the same time. Members who require more complex planning can work with SECU Trust Representatives and a local attorney of the members’ choice to help address their estate planning needs.
Sara Trexler, Senior Vice President of SECU’s Trust Services department, comments, “The Estate Planning Essentials Program was piloted to both SECU employees and member-volunteers with overwhelming success. We are very excited to be able to offer this valuable service, along with a loan feature if needed, to help all members prepare for the future needs of their family, ensuring that their intended plans are defined and documented appropriately. The Credit Union is strongly committed to assist members creating a solid financial plan and the Estate Planning Essentials Program is a key piece of that financial plan.”
Statesville branch Advisory Board member Rose Speece noted, “I feel the Estate Planning Essentials Program is one of the most beneficial programs the Credit Union has ever offered members and I am eager to mention this to other members who are in need of estate planning.”
Fellow Statesville Advisory Board member Bill Day added, “I appreciate the low cost of the program, which proves it is geared towards average, working-class Credit Union members who would possibly put off estate planning because of the high cost associated with it.”
Attorneys participating in the Estate Planning Essentials Program are not employees or agents of the Credit Union (SECU, LGFCU or NCPAFCU) or its affiliates. SECU Trust Representatives are not employees or agents of the participating attorneys. The Credit Union is not providing legal services and is not responsible for the services provided by these independent professionals. The Estate Planning Essentials Program is an optional program for members. Credit Union Members have the option to use an attorney participating in the program or to select their own attorney.
SECU is a non-profit financial cooperative owned by its members. SECU has been providing the employees of the State of North Carolina and their families with consumer financial services for over 70 years. Currently serving more than 1.6 million members, SECU provides services through 236 branch offices, nearly 1,100 ATMs, 24/7 Contact Centers and a website, www.ncsecu.org.