State Employees Credit Union
| Company type | Credit union |
|---|---|
| Industry | Financial services |
| Founded | June 4, 1937 in Raleigh, North Carolina, United States |
| Headquarters | Raleigh , United States |
Area served | North Carolina |
| Products | Banking, financial services |
| Website | www |
State Employees' Credit Union (SECU) is a credit union chartered by the state, with its main office located in Raleigh, North Carolina. It operates under the supervision of the Credit Union Division within the North Carolina Department of Commerce. Deposits made by members are protected through insurance provided by the National Credit Union Administration (NCUA). SECU stands as the second-largest natural person credit union in the United States based on both asset size and member count. As reported on June 30, 2023, SECU's assets totaled $49.6 billion, serving more than 2.75 million members through a network of 275 branches spread across every county in North Carolina.[1] Additionally, SECU administers the CashPoints ATM network, which is the largest no-fee ATM system within the state.[2] The membership base largely consists of North Carolina state employees, their immediate relatives, and family members of current SECU members.[3]
History
Formed on June 4, 1937, by a group of state employees from North Carolina, SECU began with an initial capital of $437 and just 17 members. Its first operations took place in the basement of Raleigh’s Agriculture Building.[4] By the year 1960, membership had grown to over 70,000 individuals and assets neared $25 million.[5] Fast forward to 2022, SECU's asset base expanded to $53.1 billion with a membership count of approximately 2.7 million people—representing roughly one-quarter of North Carolina’s population—and maintaining its rank as the second largest credit union in the nation by both scale and membership.
Certain independent credit unions have utilized SECU’s branch locations through shared branch agreements.
Civic Federal Credit Union caters to employees working for county, city, and local government entities throughout North Carolina. Functioning primarily as a virtual credit union, local government workers had access to SECU’s branch network for nearly forty years via a partnership with Local Government Federal Credit Union (LGFCU), which was once ranked as North Carolina’s fourth largest credit union. Later, LGFCU leadership initiated Civic Credit Union to provide a more cost-effective alternative to SECU’s extensive branch infrastructure. The transition from LGFCU to Civic Credit Union was finalized in June 2025.
The North Carolina Press Association Federal Credit Union (NCPAFCU) serves staff and affiliates associated with member newspapers of the North Carolina Press Association.
Community support programs
In 2004, SECU launched the SECU Foundation with the mission of fostering community development throughout North Carolina. The Foundation allocates funding toward impactful initiatives in areas such as housing, education, healthcare, and human services—emphasizing projects that extend beyond traditional credit union activities. Financing for these efforts is sourced from individual SECU members themselves, reflecting SECU’s cooperative and member-owned philosophy. All supported projects are located exclusively within North Carolina and are attributed to contributing members rather than directly to SECU.
In 2009, SECU awarded $4 million in funding to the North Carolina Museum of Natural Sciences to support its Nature Research Center.
See also
- Pennsylvania State Employees Credit Union
- S.C. State Credit Union
- State Employees Credit Union of Maryland
- State Employees Credit Union of New Mexico
- Washington State Employees Credit Union