As a not-for-profit cooperative, State Employees’ Credit Union operates solely for the benefit of its membership. Member benefits are typically measured by the cost of financial services provided; by the range of financial products offered; and by the convenience of access to those services and products. The Credit Union way is to continually invests and reinvest in member service. As a federally insured, state chartered financial institution, State Employees’ Credit Union is obligated to meet the rigorous requirements of a highly regulated industry. Safety and soundness in all operations are paramount. As a fiduciary on which our membership relies, State Employees’ Credit Union must be operated with unquestionable fidelity to the principles of honesty, integrity, prudence and equity. State Employee Credit Union strongly believes that in order to build a sound organization you need the support of the members and community. They truly believe that their credit union organization was built on the principle of “People Helping People.” The membership always comes first at the Credit Union! State Employees’ Credit Union, is a not-for-profit financial cooperative owned by its members, it was founded June 4, 1937 with 17 members and $437 in assets. It was initially operated on a part-time basis from the basement of the Agriculture Building in Raleigh. Over the years, State Employee Credit Union has grown in services, membership and assets. As of March 2012, SECU serves 1.7 mil members with just under $25 bil in assets through 242 branches, 1,100+ ATMs, six Contact Centers open 24/7, a voice response telephone service and an interactive website.

Rank Chart
Total Assets
Number of Locations
Our Score
$8.32 Billion
$17.84 Billion
$66.82 Billion
$29.48 Billion
242 Branches


The Good

State Employees’ Credit Union is a member-owned, not-for-profit cooperative. Membership is limited to persons who meet the eligibility requirements. You must live in the State of North Carolina and work as an employee of the State, public schools, or be retired from either of those positions, or other various state employment positions within the Health, Mental Health, Social or Civil Defense. You are also eligible if one of your immediate family members are employed in any state position, or if you share a single economic unit with a current State Employees Federal Credit Union Member.

State Employees Credit Union offers a variety of accounts for the customers to choose from with incredible rates compared to other Credit Unions around the nation. In order to establish membership with State Employees’ Credit Union, an individual is required to open a share account first.  A share account is a savings account that offers competitive interest rates and federal insurance protection, the share account is will be the beginning of a healthy savings plan. It Features the following benefits:

  • Current interest rate is 0.75% / 0.75% APY(can change based on current trends.)
  • $25 minimum opening deposit
  • $25 required minimum balance
  • No service charge
  • Dividends compounded daily, and paid monthly
  • Accessible via ATM, ASK SECU, Member Access, branch and SECU Contact Center
  • Funds may be used as collateral on State Employee Credit Union loans

State Employees’ Credit Union offers a checking account that is convenient and affordable. By owning a State Employee Credit Union checking account, your $1 maintenance fee is automatically contributed to the State Employee Credit Union Foundation. The State Employee Credit Union Foundation promotes local and community development by primarily funding high impact projects in the areas of housing, education, healthcare and human services. They also offer a checking Account Switch Kit online to make transition from another checking account easier on their customers. Their Checking Accounts come with the following features:

  • Current interest rate is 0.25% / 0.25% APY (based on current trends)
  • $0 required minimum balance
  • Dividends-earned compounded daily, paid monthly
  • $1 monthly maintenance fee, unless instructed otherwise, is automatically donated by the member to State Employee Credit Union Foundation
  • 50 checks per statement period free
  • Accessible via ATM, ASK SECU, Member Access, branch and SECU Contact Center
  • Overdraft protection is available with no fee for two separate days per year
  • Online BillPay service
  • Debit cards for purchases and ATM transactions
  • Automated drafts and deposits
  • Online images of most cleared checks

State Employees Credit Union also offers great rates on their share certificates or their Certificates of Deposit at 1.0% APY (12 month rate) and has a lower amount for minimum deposit requiring only $250 to open a CD. They have terms that start at 3 months and can extend up to 60 months with a tiered rate amount depending on how much you wish to invest and for how long.

The Bad

State Employee Credit Union apps for Android and Apple perform less than desirable compared to other apps that have been designed for other credit unions. They also only offer what looks to be one kind of credit card option for their customers and it is very basic.

The Bottom Line

State Employees Credit Union only offers one credit card option for  customers, however their rates are incredible even for their basic accounts compared to many other Credit Unions. State Employees Credit Union is actually a Credit Union that is found in many other states by the same name the services they offer in each state are consistent throughout while the rates may vary from state to state.  You would still have access to many of the ATMs even while out of state, and transferring within is made easy with their online checking transfer kit. Based on rates alone, States Employees Credit Union would be a great option to invest and get a greater financial return on your basic deposits and on your CD’s.

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