A Comprehensive Guide to the State Employees Credit Unit
What is the State Employees Credit Unit?
The State Employees Credit Unit (SECU) is a state-chartered credit union in the United States, created in 1937 to serve the needs of North Carolina's state government employees. It is a not-for-profit financial cooperative owned by its members and operated for their benefit. SECU offers a variety of financial services, including savings, checking, loans, mortgages, and more. It also provides financial education and resources for members.
What Services Does the SECU Provide?
SECU provides a full range of financial services, including savings accounts, checking accounts, loans, mortgages, credit cards, investments, and insurance. The credit union also offers online and mobile banking services, as well as comprehensive financial education and resources. Additionally, SECU is a member of the Shared Branching network, which allows members to access their accounts at any of the more than 5,000 credit union branches nationwide.
What Are the Benefits of Joining the SECU?
Joining the SECU offers many benefits, including competitive rates on loans and savings accounts, no monthly service fees, and no minimum balance requirements. Additionally, SECU members are eligible for discounts on products and services, as well as access to a nationwide network of surcharge-free ATMs. Members also benefit from the credit union's commitment to financial education and community outreach.
Who is Eligible to Join the SECU?
Membership in the SECU is open to all North Carolina state employees, their families, and any organization affiliated with the state government. Additionally, individuals who are employed by certain educational institutions, employers, and associations in North Carolina are also eligible for membership. Membership is also open to members of the United States military, as well as select employee groups.
How Do I Join the SECU?
Joining the SECU is simple. To become a member, you will need to complete an application, provide proof of your eligibility, and make a $25 deposit into a share savings account. Once your application is approved, you will be able to access the full range of SECU services and products.
What Are the Risks of Joining the SECU?
Like any financial institution, the SECU carries some risk. These risks include the potential for fraud or identity theft, loss of funds due to errors, and losses due to market fluctuations. As a member, it is important to understand the risks associated with any financial service or product before deciding to join the credit union.
Conclusion
The State Employees Credit Unit is a great option for North Carolina state employees, their families, and many others. The credit union offers competitive rates, no monthly service fees, and no minimum balance requirements. Additionally, members benefit from the credit union's commitment to financial education and community outreach. If you are looking for a financial institution that offers quality services and products, the SECU may be the perfect fit for you.