SECU Foundation

What SECU Foundation does

SECU Foundation is a 501(c)(3) charitable organization established in 2004 by the Board of Directors of State Employees' Credit Union (SECU), headquartered in Raleigh, North Carolina. The Foundation is funded almost entirely by $1 monthly contributions from SECU member checking accounts, with over 99% of members opting in, plus voluntary additional donations via SECU Member Access. It is wholly controlled by SECU, operates under the "People Helping People" philosophy, and restricts its giving to projects within North Carolina's 100 counties.

The Foundation's products fall into four program lines: (1) Grant Programs, comprising Capital Grants for tangible construction/renovation, Programmatic Grants for pilot or scale initiatives, and Mission Development Grants of up to $40,000 for capacity building at smaller non-profits; (2) Scholarship Programs, including the $10,000 four-year "People Helping People" high school scholarship, the $5,000 two-year community college scholarship, and the $500 Bridge to Career workforce credential scholarship, distributed through 115 LEAs and all 58 NC community colleges; (3) the SECU Public Fellows Internship Program supporting undergraduates at the 16 UNC System campuses with a $1.95 million commitment; and (4) Disaster Relief Initiatives, which has deployed nearly $9 million for Hurricane Helene recovery in Western North Carolina. Grant applications are submitted through an online Grantee Portal on the Fluxx platform; scholarships are routed through local education agencies and financial aid offices.

Since inception the Foundation has committed over $340 million across grants, loans, and scholarships, awarded more than 16,000 scholarships, and funded over 200 projects, making it the largest foundation in the credit union industry. Primary beneficiaries include NC public high school students, NC community college students, NC-based non-profits in housing/education/healthcare/human services, and state/public-sector employee families. Strategic partners include the UNC System, NC Community College System, NC Housing Finance Agency, Habitat for Humanity of NC, NC Community Foundation, UNC Health Foundation, NC Baptists on Mission, Feeding the Carolinas, and the Salvation Army of the Carolinas.

Name

SECU Foundation

Legal name

SECU Foundation

Website

https://ncsecufoundation.org

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

SECU Foundation is a 501(c)(3) charitable organization chartered in 2004 by State Employees' Credit Union, funded by $1 monthly checking-account contributions from SECU members. It distributes grants, scholarships, and disaster relief funding to non-profits, students, and communities across all 100 North Carolina counties.

Ownership category

akta.pro rank

Product category

Charitable Foundation / Nonprofit Grantmaking

NAICS

Grantmaking and Giving Services (81321), Colleges, Universities, and Professional Schools (611310), Civic and Social Organizations (8134)

SIC

Services-Social Services (8300), Services-Membership Organizations (8600)

akta.pro primary industry

Education Grantmaking Foundations (BPAGAKAK)

akta.pro secondary industries

College Access, Scholarships & Student Success Nonprofits (BPAGADAE), Scholarship & Fellowship Foundations and Trusts (EDADAHAC), K–12 Support & School Improvement Nonprofits (BPAGADAB)

Keywords

• Nonprofit grantmaking
• Scholarship programs
• Community development
• Disaster relief funding
• Credit union foundation

Headquarters

HQ city

Raleigh

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Others, Personnel, Marketing or Sales, Technology or R&D

Revenue model

1. Member Contributions: SECU Foundation is funded by $1 monthly contributions from SECU member checking accounts. Over 99% of SECU members with checking accounts opt-in to these contributions. The contributions are not tax-deductible but represent the primary funding source for all foundation projects.
2. Additional Member Donations: Members may contribute additional funds to the Foundation through SECU Member Access online or by sending a check directly to the Foundation.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels7 records

Core offering

SECU Foundation is a charitable foundation that distributes grants to North Carolina nonprofits and scholarships to NC students, funded by $1 monthly contributions from SECU member checking accounts. It offers Capital Grants, Programmatic Grants, and Mission Development Grants to nonprofits serving housing, education, healthcare, and human services, alongside scholarship programs (high school, community college, Bridge to Career), the Public Fellows Internship Program, and disaster relief funding across all 100 NC counties.

Product overview

SECU Foundation is a 501(c)(3) charitable organization established in 2004 by the State Employees' Credit Union Board of Directors, funded primarily through $1 monthly contributions from SECU member checking accounts. The Foundation operates as a unified charitable giving platform offering four main product lines: Grant Programs (Capital, Programmatic, and Mission Development Grants supporting non-profits in housing, education, healthcare, and human services), Scholarship Programs (People Helping People High School Scholarship, Community College Scholarship, and Bridge to Career), the Public Fellows Internship Program for NC university students, and Disaster Relief Initiatives for NC communities. The Foundation has committed over $300 million since 2004 supporting projects across all 100 NC counties.

Differentiator

Problem solved

Functional benefit

Brands

• People Helping People Scholarship Program: Scholarship program for NC public high school students and community college students, valued at $10,000 for high school (4-year) and $5,000 for community college (2-year) programs.
• Mission Development Grant Program
• SECU Bridge to Career Program

Products and services

• Capital Grants Funds tangible, permanent, and visible projects typically supporting construction or major renovation of buildings or facilities for North Carolina nonprofits in housing, education, healthcare, and human services.
• Programmatic Grants Funds pilot programs or large-scale program expansions that provide regional or statewide services through NC nonprofit organizations.
• Mission Development Grants Supports smaller NC nonprofits with capacity building through organizational assessments, goal setting, and pathways for expansion. Grants of up to $40,000 each.
• People Helping People High School Scholarship Four-year scholarship valued at $10,000 ($1,250 per semester for up to eight consecutive semesters) for NC public high school seniors to attend one of the 16 UNC System campuses, distributed through 115 Local Education Agencies.
• Community College Scholarship Two-year scholarship valued at $5,000 ($1,250 per semester for up to four consecutive semesters) for students at each of the 58 NC community colleges, distributed through campus financial aid offices.
• SECU Bridge to Career Program Provides $500 scholarships to up to 30 eligible students at each of the 58 NC community colleges for state-regulated or industry-recognized credentials leading to sustainable wage careers.
• SECU Public Fellows Internship Program Supports meaningful work in communities across NC for undergraduate interns at each of the 16 NC state universities, with a $1.95 million commitment supporting the program.
• Disaster Relief Initiatives Collaborates with partner organizations to provide meaningful and impactful support to NC communities during natural disasters including Hurricane Helene, COVID-19, Hurricane Florence, and Hurricane Matthew.

Quantifiable outcome

• Over 16,000 scholarships awarded to NC students
• +4 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Nine partnerships are on record, tiered major and core.

• NC Baptists on MissionmajorStrategic or Co-development Partner · 1 January 2024Partner in disaster relief efforts, receiving significant funding for Hurricane Helene relief including $5 million awarded in 2020 and multiple phases of Hurricane Helene recovery funding.
• Feeding the CarolinasmajorStrategic or Co-development Partner · 1 January 2024Key partner for food security initiatives including $500,000 disaster preparedness grant and ongoing support during Hurricane Helene relief efforts.
• The Salvation Army of the CarolinasmajorStrategic or Co-development Partner · 1 January 2024Major disaster relief partner receiving multiple phases of funding for Hurricane Helene recovery and COVID-19 response efforts.
• UNC Health FoundationmajorStrategic or Co-development Partner · 1 January 2021SECU Foundation provided $1.97 million grant for a telemedicine pilot program to improve emotional and physical health of NC public school students through school-based virtual health services.
• North Carolina Community FoundationmajorStrategic or Co-development Partner · 1 January 2020SECU Foundation awarded $2 million grant with additional $1 million challenge grant to support the NC Healing Communities Fund, a collaborative initiative to help nonprofits impacted by COVID-19.
• Habitat for Humanity of North CarolinamajorStrategic or Co-development Partner · 1 January 2015SECU Foundation provided nearly $11 million for the Mountains to Sea Challenge, partnering to build a Habitat house in all 100 North Carolina counties.
• North Carolina Housing Finance Agency (NCHFA)coreStrategic or Co-development Partner · 1 January 2010SECU Foundation partners with NCHFA on housing projects, providing zero percent interest construction loans and co-funding for affordable housing developments including teacher housing, veteran housing, and transitional housing facilities.
• University of North Carolina (UNC) SystemcoreStrategic or Co-development Partner · 1 January 2005SECU Foundation's high school scholarship program directs recipients to attend one of the 16 UNC System campuses. Funds are distributed through university financial aid offices each semester. The Foundation has awarded over 16,000 scholarships totaling over $81 million since 2005.
• North Carolina Community College SystemcoreStrategic or Co-development Partner · 1 January 2005SECU Foundation provides 116 two-year scholarships (up to $5,000 each) across all 58 NC community colleges, totaling up to $580,000 annually. The Bridge to Career program also operates at all 58 campuses.

Scale indicators13 records

Recent moves6 records

Expansion highlights3 records

Regional players

• Golden LEAF Foundation: North Carolina-specific foundation focused on economic development, education, and workforce grants. Competes for similar grantees (especially community colleges) and partners with SECU Foundation on workforce initiatives.
• Z. Smith Reynolds Foundation: Major NC-focused private foundation supporting social justice, environment, and community building. Competes for high-quality NC nonprofit grantees in human services and education.

Direct peers

• Foundation For The Carolinas: One of the largest community foundations in the Southeast, serving the Carolinas with donor-advised funds, scholarships, and competitive grants. Comparable scale and geographic footprint for capital grantmaking competition.
• North Carolina Community Foundation: Statewide community foundation operating across NC with similar grantmaking, scholarship, and disaster response programs. Direct peer and collaborator (SECU Foundation has awarded it $2M+ grants), competing for the same NC nonprofit ecosystem.
• VyStar Credit Union Foundation: Another large credit union-affiliated 501(c)(3) foundation, providing grants and scholarships in its operating region (Florida/Georgia). Directly comparable as a peer credit union foundation model with similar scholarship and community grant programs.
• BECU Foundation: Credit union-affiliated foundation serving Washington state, focused on education, economic opportunity, and community resilience grants. Comparable in structure (credit union-funded foundation with scholarships and grants) and mission focus.
• SchoolsFirst Federal Credit Union Foundation: California-based credit union foundation serving education employees and their communities with grants and scholarships. Direct peer given shared credit union parentage, education-sector focus, and grantmaking model.
• Alliant Credit Union Foundation: Credit union-affiliated charitable foundation providing scholarships and grants with a nationwide reach. Similar grantmaking and scholarship portfolio structure as SECU Foundation.

Broad incumbents

• Conrad N. Hilton Foundation: Major national grantmaking foundation with significant scholarship and education programs. Provides an upper-bound reference for scale and breadth of programs SECU Foundation could aspire to with expanded resources.
• TIAA Charitable: Large-scale national donor-advised fund vehicle affiliated with a financial services firm, providing tax-deductible giving accounts. Represents the broader pool of capital SECU Foundation's non-deductible model cannot easily access.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks4 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/SECUFoundation
• Facebookfacebook.com/SECUFoundation
• LinkedInlinkedin.com/company/secu-foundation
• Instagraminstagram.com/secu_foundation

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments56 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SECU Foundation