History of State Employees Credit Union in Timeline

State Employees' Credit Union (SECU) is a state-chartered credit union based in North Carolina, regulated by the NC Department of Commerce. It is the second largest natural member credit union in the U.S., boasting $49.6 billion in assets and over 2.75 million members as of June 2023. SECU has 275 branches across all 100 North Carolina counties and operates the largest ATM network in the state, called CashPoints. Membership is primarily available to North Carolina state employees and their immediate family or the immediate family of current SECU members. Member deposits are insured by the NCUA.

June 4, 1937: State Employees' Credit Union Incorporation

On June 4, 1937, State Employees' Credit Union was originally incorporated by employees of the State of North Carolina, beginning with $437 in assets and 17 members. The credit union's first operations were conducted from the basement of Raleigh's Agriculture Building.

1960: Growth of SECU

By 1960, State Employees' Credit Union had grown to serve over 70,000 members and had assets of almost $25 million.

2004: SECU Foundation Formation

In 2004, SECU Foundation was formed by SECU to promote community development in North Carolina communities, primarily funding high impact projects in the areas of housing, education, healthcare and human services. Funding is provided by individual members enforcing the core concept of SECU as a member-owned cooperative.

2009: SECU Grant to NC Museum of Natural Sciences

In 2009, SECU announced a $4 million grant to the North Carolina Museum of Natural Sciences for their planned Nature Research Center.

2022: SECU Growth in 2022

By 2022, State Employees' Credit Union had grown to over $53.1 billion in assets and 2.7 million members, making it the second-largest credit union in the United States in terms of assets and membership. Total membership amounted to approximately one-quarter of all North Carolinians.

June 30, 2023: SECU Assets and Membership

As of June 30, 2023, State Employees' Credit Union (SECU) reported $49.6 billion in assets, over 2.75 million members, and 275 branches located across all 100 counties of North Carolina.