State Employees Credit Union
Encyclopedia
State Employees Credit Union (SECU) is a state chartered credit union
headquartered in Raleigh, North Carolina
regulated under the authority of the Credit Union Division of the NC Department of Commerce. SECU member deposits are insured by National Credit Union Administration
(NCUA) of the U.S. federal government. SECU is the second largest natural member credit union in the United States, both in asset size and in membership. As of February 2011, SECU has $22 billion in assets, 1.6 million members, and 236 branches. Membership in the credit union is limited to employees of the state of North Carolina and their families.
. By 1960, the credit union grew to serve over 70,000 members and had assets of almost $25 million.
in North Carolina communities. The foundation funds projects in education, health care, and housing.
In 2009, SECU announced a $4 million grant to the North Carolina Museum of Natural Sciences
for their planned Nature Research Center.
Credit union
A credit union is a cooperative financial institution that is owned and controlled by its members and operated for the purpose of promoting thrift, providing credit at competitive rates, and providing other financial services to its members...
headquartered in Raleigh, North Carolina
Raleigh, North Carolina
Raleigh is the capital and the second largest city in the state of North Carolina as well as the seat of Wake County. Raleigh is known as the "City of Oaks" for its many oak trees. According to the U.S. Census Bureau, the city's 2010 population was 403,892, over an area of , making Raleigh...
regulated under the authority of the Credit Union Division of the NC Department of Commerce. SECU member deposits are insured by National Credit Union Administration
National Credit Union Administration
The National Credit Union Administration is the United States independent federal agency that supervises and charters federal credit unions...
(NCUA) of the U.S. federal government. SECU is the second largest natural member credit union in the United States, both in asset size and in membership. As of February 2011, SECU has $22 billion in assets, 1.6 million members, and 236 branches. Membership in the credit union is limited to employees of the state of North Carolina and their families.
History
State Employees Credit Union was originally incorporated on June 4, 1937 by employees of the State of North Carolina. The credit union began with $437 in assets and 17 members and was first operated from the basement of Raleigh's Agriculture BuildingAgriculture Building
The Agriculture Building is a state government building located in Raleigh, North Carolina. Built in 1921, it is an example of Classical Revival architecture.The Agriculture Building was listed on the National Register of Historic Places in 1976.-See also:...
. By 1960, the credit union grew to serve over 70,000 members and had assets of almost $25 million.
SECU Foundation
The SECU Foundation was formed in 2004 by SECU to promote community developmentCommunity development
Community development is a broad term applied to the practices and academic disciplines of civic leaders, activists, involved citizens and professionals to improve various aspects of local communities....
in North Carolina communities. The foundation funds projects in education, health care, and housing.
In 2009, SECU announced a $4 million grant to the North Carolina Museum of Natural Sciences
North Carolina Museum of Natural Sciences
The North Carolina Museum of Natural Sciences is located in Raleigh, North Carolina. This museum is the oldest established museum in North Carolina and the largest museum of its kind in the Southeast...
for their planned Nature Research Center.