Great services are provided to members of the State Employees Credit Union in North Carolina.

Second Largest Credit Union in the USState Employees Credit Union

State Employees Credit Union (SECU) of Raleigh, NC is the second largest credit union in the United States both in membership and assets under management.   It has over 1,600,000 members and assets over $21 billion.   The credit union, opened in 1937, has 3,831 full time employees and 897 part-time employees, or 350 members per employee, compared to a national average of 455.     SECU also has 233 physical branches and 1,000 ATM’s to meet the needs of its clients.

Contact Information

The address for the State Employees Credit Union is P.O. Box 27665, Raleigh, NC 27611.  Their phone number is (919) 857-2150.  Their website is www.ncsecu.org.  Their ABA Routing Transit Number is 253177049.

 

Services Provided

State Employees’ Credit Union provides members with an assortment of services. Whether you prefer the convenience of technology with online and automated services or the personal touch of a local branch, SECU provides solutions to meet your needs.

 

Branch Services

SECU branch services include currency exchange, check cashing, notary and signature guarantee, safe deposit boxes, and savings bonds.  They also offer advice to SECU members who have been laid off and are experiencing economic difficulties.  Tax Preparation is available in all branches for members by appointment.

Credit/Debit Services

For your daily purchasing needs, a Visa credit card is available, as well as a credit union debit card.  In addition, the credit union has gift cards which can be used for all types of occasions such as birthdays, weddings, anniversaries, holidays, or graduations.  They can be purchased in amounts from $20 to $500.  Be aware however, that a $1 fee per card is charged.

Online/Mobile Services

Many of the normal banking activities you might need to perform are made available via online access by SECU.  Some of the most common online activities are the ability to fill out a membership application, apply for a loan, do an account balance inquiry, execute a share draft orders, open an account, make a loan payment, see your account history, perform transfers, view check images, view statements, pay bills, execute real-time loan advances, download quicken software, determine a car’s valuation, buy a car, rent a car, and use online tax services.

For mobile phone users, there is the ability to register for SECU alerts and texts.  And for those with web enabled phones, a mobile site is available which allows members to view and manage their accounts, check their current account balance, view transactions, view check images, pay their bills through BillPay, transfer funds between SECU accounts, view current lending and deposit rates, and locate branches and ATMs enhanced with Google maps.

Automated Services

SECU also provides automated services such as direct deposit, fund transfers, overdraft protection, payroll deduction, and wire transfers.

Loan Services

One of the most important benefits of being a member of State Employees’ Credit Union (SECU) is access to affordable credit services. The Credit Union provides competitively priced loans for both new and used autos, motorcycles, and recreational vehicles.  Both new and used boat and personal watercraft loan are available with a variety of terms.  Boats and personal watercrafts that are currently financed through a different lender can be refinanced with SECU.  For your home loan needs, they provide adjustable rate mortgages, fixed rate mortgages, reverse mortgages, deed of trust and second mortgages and home equity loans. They also provide for a biweekly repayment program on these loans.  Personal loans available include salary advance, unsecured, secured, and student loans for education.  These are conveniently available through their branch network, their SECU Contact Centers and the internet.

Insurance and Investing Services

Insurance is made available through partnerships to credit union members.  Among the types of insurance available are Automobile, Homeowners, Renters, Motorcycle, Flood, Health, Medicare Supplement Plan, Term and Whole Life Insurance, and Long Term Care.

 

Mutual fund investment accounts as well as estate and tax planning are also available to members through partnerships that SECU has set up.

 

Unique Offerings

One area that State Employees Credit Union really stands out is their Green Loans.  These are focused on vehicles that get over 28 mpg, home improvements that are used to increase energy efficiency, and new home purchases that have received an Energy Star rating.

For cars that get over 28 mpg, the loans are 0.5% lower than a non-green auto loan.  Tax credits can add additional savings depending on the individual vehicle.

If you are thinking of making improvements on a home you are currently living in, a green second mortgage is available for up to $50,000 for up to 10 years.  At least 75% of the proceeds must be used for energy efficient home improvements. Also, the home must be the primary residence for the borrower, be in North Carolina or in a county in South Carolina, Georgia, or Virginia that adjoins North Carolina.  The credit union absorbs the cost of the appraisal and flood zone determination report, and no origination or discount points are on these loans.

Finally, if you are going to purchase a new home which has received an Energy Star rating, there is a green mortgage program.  An Energy Star home is at least 15% more energy efficient than homes built to the 2004 International Residential Code and include additional energy-saving features that typically make them 20-30% more energy efficient than standard homes.  The green loan has a lower than normal origination fee, the credit union absorbs the cost of the appraisal and flood zone determination report, and there are no application or credit report fees.  Additional savings are also available due to the fact that no private mortgage insurance is needed and that up to 100% of the value of the property can be loaned.  Finally, the underwriting guidelines on these loans are more flexible than non-green mortgage loans.

 

Eligibility Requirements

Employees of the State of North Carolina and Federal employees working in conjunction with State departments, Employees of Public Boards of Education, Employees of associations formed for the benefit of State employees, such as State Employees’ Association of North Carolina, N.C. Association of Educators, State Employees’ Credit Union, and non-remarried spouses of persons who died while in the field of membership of the Credit Union, Persons retired from the above employment as pensioners and/or annuitants from the above employment or services, Persons in the immediate family of current Credit Union members (defined as spouses, parents, children, and siblings of a member), persons living in the same residence maintaining a single economic unit with a member, and organizations of such persons, Employees of agencies or departments whose employees are subject to the State Personnel Act,  and all members of the North Carolina National Guard are eligible to be members of the SECU.

Employees of county, municipal, and related government units (excluding employees of county departments of Social Services, Health, Mental Health, and Civil Defense) who currently have a Credit Union chartered by North Carolina or the Federal Government and who are included in that field of membership are not eligible for membership in the State Employees’ Credit Union

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