State Employees' Credit Union

The State Employees' Credit Union is owned by our 2.5 million members. Secu provides services to our members through 270 branch offices, over 1,000 atms, 24/7 contact centers, and a website - www.ncsecu.org. As a Credit Union, members deposit funds into share accounts, which are then loaned to other members. The Credit Union offers share accounts of various types - membership shares, share drafts, money market shares, ira shares, and share term certificates. Loans to members consist of mortgage, home equity, auto, and other consumer loans. At june 30, 2020, there were 829,000 personal loans and 183,000 first and second mortgage loans outstanding. The Credit Union received $1,692,752,969 in revenues from interest on loans, interest on investments, and other non-interest sources during the year ended june 30, 2020. The cost of providing services to Credit Union members was $1,486,066,717 for the year. The cost of services consists of interest paid on share accounts, salaries, building expenses, equipment expenses, and other operational expenses.