State Employees' Credit Union

The State Employees' Credit Union is owned by our 2.7 million members. Secu provides services to our members through 275 branch offices, 1122 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 consists of mortgages, home equity, auto and other consumer loans. At june 30, 2023, there were approximately 899,000 personal loans and approximately 204,000 first and second mortgage loans outstanding. The Credit Union received $2,179,844,153 in revenues from interest on loans, interest on investments, and other non-interest sources during the year ended june 30, 2023. The cost of providing services to Credit Union members was $1,596,829,355 for the year. The cost of services consists of interest paid on share accounts, salaries, building expenses, equipment expenses, and other operational expenses.