|Founder||Employees of the State of North Carolina|
|Key People||Mike Lord (President & CEO)|
|Headquarters:||Raleigh, North Carolina|
|☎ Telephone number:||1-888-732-8562|
|Number of employees:||5,800|
|Number of locations:||265 locations|
|ATM locator||Find here|
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SECU (State Employees’ Credit Union): Introduction
State Employees’ Credit Union, which is also known as SECU, appears to be a state chartered credit union, which was created back in 1937 by the employees of the State of North Carolina. Only 17 people participated in this credit union at first, and the company was started with just $437 in assets. By 1960, SECU served more than 70,000 members and controlled assets worth $25 million.
At the present time, State Employees’ Credit Union offers all types of banking products, including investments, credit cards, mortgages, consumer loans, checking and savings accounts, as well as online banking. Only employees of the State of North Carolina or their families are eligible to become members of this credit union.
State Employees’ Credit Union Review
SECU appears to be a local credit union, whereas only public workers of North Carolina and their family members are eligible to become the members of this credit union. If you live in this state, however, there are plenty of reasons why you might consider becoming a member of this credit union.
Up to date, SECU appears to be one of the largest credit unions and banks in North Carolina. Considering that it has over 260 locations and access to more than a thousand ATMs (SECU is a part of the CashPoint ATM network), customers usually find it incredibly convenient to use the services of SECU.
Apart from that, one has to mention that this credit union offers a wide array of financial services, ranging from mortgages to CDs and savings accounts. Another thing to point out is the credit union’s loyal overdraft fee forgiveness policy and lower overdraft fees overall. Many customers report that they are satisfied with the SECU service.
When it comes to the simplest products (checking and savings accounts), they are not bad either. Checking accounts offer a higher-than-average interest rate, though the $1 monthly fee cannot be waived. Yet, there is no minimum deposit required to open an account! Savings accounts also offer higher returns. You will be charged a $1 monthly fee only if your balance drops below $25. The minimum deposit requirement is just $25.
These are the pros of this credit union:
- There are many branches and ATMs of this credit union, which makes it also one of the largest U.S. credit unions.
- Low overdraft fees and the presence of an overdraft fee forgiveness policy.
- A variety of financial services available.
- Good-quality services provided to the customers.
- No minimum deposit required to open a checking account.
Yet, the credit union can also be characterized by the following cons:
- The 1$ monthly fee for checking accounts cannot be waived.
- Not everyone is eligible to become a member.
In addition to this info, you can also find a comprehensive guide to SECU online banking on our website. For instance, you can check the SECU Login article and take advantage of all the opportunities offered by online banking.