SECU

What SECU does

SECU is Maryland's largest state-chartered credit union, operating as a not-for-profit, member-owned cooperative founded in 1951 and headquartered in Baltimore. It provides a full suite of retail and commercial financial services including checking, savings, money market and certificate products, mortgages, home equity lines of credit, auto loans, personal loans, student loans, Visa credit cards, insurance, and investment products, alongside dedicated business banking offerings such as commercial mortgages, merchant processing, and payroll and HR services. Members access these services through 25 physical financial centers across Maryland, a digital banking platform with native iOS and Android apps, a Virtual Financial Center for video appointments, and a 50,000+ ATM network.

The institution's business model is structurally distinct from investor-owned banks: as a credit union, SECU returns net interest margin and fee income to members through competitive loan and deposit pricing rather than to external shareholders. Revenue streams include net interest income from consumer and commercial lending, transaction-based fees, and recurring business banking services. Pricing examples include a 9-month CD at 4.00% APY, 30-year fixed mortgages at 6.125%, and a business high-yield money market at 2.00% APY. The customer base spans Maryland residents, small and medium businesses, university students and alumni (via Towson University and University of Maryland partnerships), and youth (via Greenlight and Teen Checking), with over 1950 eligibility pathways supporting broad member acquisition.

SECU's go-to-market combines community-led member acquisition (employer, school, and family eligibility channels), direct-to-consumer digital onboarding, event-driven community engagement, and a referral program offering $50 per successful referral. The institution is led by President and CEO David Sweiderk and supported by an affiliated nonprofit, the SECU MD Foundation, which runs scholarships, grants, and the Kindness Connects volunteer program. Recent strategic emphasis is on digital engagement (foundation website redesign driving 37% traffic growth), youth financial education (Teen Financial Literacy Summit with Associated Black Charities), and SMB banking expansion through the Bank at Work program, all within a single-state Maryland footprint.

Name

SECU

Legal name

SECU Credit Union

Website

https://secumd.org

Company type

Private

Founded year

1951

Operating status

Operating

Headcount range

251–500 employees

Short description

SECU is Maryland's largest state-chartered credit union, providing personal and business banking, lending, insurance, and digital financial services through 25 branches, a mobile app, and a member-owned cooperative model serving Maryland residents, students, and small businesses.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (52213), Credit Unions (522130), Credit Card Issuing (522210), Depository Credit Intermediation (5221)

SIC

Savings Institutions, Not Federally Chartered (6036), Personal Credit Institutions (6141)

akta.pro primary industry

Community Credit Unions (Retail/Consumer Focus) (FSABAEAA)

Keywords

• Retail banking services
• Consumer lending
• Business banking
• Credit union services
• Mortgage lending

Headquarters

HQ city

Baltimore

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Net Interest Income: SECU earns interest income from loan portfolio (auto loans, mortgages, HELOCs, personal loans, credit cards) and pays interest on deposits. As a not-for-profit credit union, margins return to members through better rates.
2. Fee-based Services: Various banking fees including account maintenance, ATM fees at non-network ATMs, wire transfers, overdraft protection, and credit card fees. Many core services offered free with e-statements and direct deposit.
3. Business Banking Services: Business checking, savings, money market accounts, commercial mortgages, business credit, merchant processing, payroll and HR services for small businesses.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels6 records

Core offering

SECU is Maryland's largest state-chartered credit union, providing a comprehensive suite of financial products and services to consumer and business members. Core offerings include checking and savings accounts, mortgages, home equity lines of credit, auto and personal loans, credit cards, investment and insurance products for individuals, plus business checking, lending, merchant processing, and payroll services for small businesses. Distribution spans 25 financial centers across Maryland, a mobile app, online banking, a Virtual Financial Center, and 50,000+ free ATMs.

Product overview

SECU is Maryland's largest state-chartered credit union offering a comprehensive suite of financial services through a platform-plus-service model. The core product portfolio centers on the SECU Total™ Checking & Rewards account as the primary member account, supplemented by specialized checking (Teen Checking, UMD Affinity Debit Card), credit cards (Visa Credit Cards, UMD Terps Credit Card), savings products (Savings Accounts, Money Market, Certificate of Deposit, IRA), and lending (Home Equity Line of Credit, Mortgage, Auto Loans, Personal Loans, Student Loans). Business banking includes Business Checking, Business Savings, Business High-Yield Money Market, Commercial Mortgages, Business Credit, Merchant Processing, and Payroll and HR services. Digital infrastructure encompasses Digital Banking platform, Mobile Banking App, and Virtual Financial Center. Financial wellness services include Financial Education, Financial Coaching, Financial Programs, Fraud Protection, and Silvur Retirement Planning. Community programs feature SECU MD Foundation scholarships and grants, Kindness Connects volunteer initiative, and referral rewards. The organization differentiates through not-for-profit structure, member ownership, and community-focused banking with 25 financial centers statewide and 50,000+ free ATMs.

Differentiator

Problem solved

Functional benefit

Products and services

• SECU Total™ Checking & Rewards Primary consumer checking account for individual members, with no monthly maintenance fee when enrolled in e-statements, cash back on debit card purchases, customizable rewards, and a $350 new-member bonus with qualifying direct deposits.
• Teen Checking Checking account designed for teenage members with parental oversight features and financial education resources to support early money management.
• Savings Accounts Basic savings account that establishes SECU membership with competitive rates and minimal fees.
• Money Market Personal money market savings product offering competitive rates with convenient access to funds.
• Certificate of Deposit Term savings product offering fixed interest rates over various maturity terms, including a promotional 9-month CD at 4.00% APY.
• IRA Individual Retirement Account providing tax-advantaged long-term retirement savings for members.
• Mortgage Residential home purchase and refinance loans for members, including 30-year fixed, 5/5 Jumbo, and FHA 30-year fixed options at competitive rates.
• Home Equity Line of Credit Revolving credit line secured by home equity, with a limited-time 1.99% APR introductory rate for the first 6 months.
• Auto Loans Vehicle purchase and refinance loans for new and used cars, including first-time auto buyer loans and a promotional offer of no first payment for up to 90 days.
• Personal Loans Unsecured consumer lending including preferred lines of credit, unsecured signature loans, deposit-secured loans, and assistive technology loans.
• Student Loans & Refinancing Education financing and refinancing products for students and graduates pursuing higher education.
• Visa Credit Cards Consumer credit card portfolio including balance transfer options, card services, fraud protection, and gas rewards savings at BP, Amoco, and Sunoco stations.
• UMD Terps Credit Card Official Credit Card of the Maryland Terrapins offering 3x points on gas, groceries, and streaming services, 2x points on dining and travel, and exclusive Terps perks.
• Homeowners Insurance Insurance coverage for homeowners to protect residential property and personal belongings.
• Auto Insurance Insurance coverage for vehicles protecting against accidents, theft, and damage.
• Life Insurance Life insurance products designed to provide financial protection for members' families and beneficiaries.
• Investments Investment and wealth management services for members, offered through secumdfinancial.org.
• Business Checking Business deposit accounts including free business checking with no minimum balance requirement and interest-earning business checking options for higher balances.
• Business Savings Business savings accounts designed for emergency funds and business savings goals with competitive rates.
• Business High-Yield Money Market Interest-earning business money market account with no transaction limits, competitive rates, and check access through Harland Clarke.
• Commercial Mortgages Commercial real estate financing for business property purchases and developments.
• Business Credit Credit solutions providing financing capacity for business operating and growth needs.
• Merchant Processing Card payment processing services enabling business merchants to accept credit and debit card transactions.
• Payroll and HR Payroll and human resources services offered to business members to support workforce administration.
• Bank at Work On-site banking enrollment and financial wellness program delivered at employer locations, providing employees with access to credit union services and financial guidance through employer partnerships.
• Financial Coaching One-on-one financial guidance for members, including financial wellness checkups and counseling services delivered through the GreenPath Financial Wellness partnership.

Quantifiable outcome

• 37% increase in daily traffic following website redesign
• +2 more outcomes

Named customers4 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

Integration2 records

Feature4 records

Partnerships

Six partnerships are on record, tiered core, flagship and minor.

• Associated Black CharitiescoreStrategic or Co-development Partner · 11 April 2026SECU serves as presenting sponsor for the Teen Financial Literacy Summit hosted by Associated Black Charities. The event provides financial education and resources to youth from Maryland, Washington D.C., Virginia, and Delaware. SECU offers attendees starter deposits to open accounts, promoting economic mobility and long-term wealth-building among Black youth.
• Towson UniversityflagshipGTM or Marketing PartnerSECU is the Official Banking Partner of the Towson Tigers. Partnership provides exclusive membership offers, $350 bonus for new checking accounts, on-campus presence with dedicated campus connection representative Annie Weinschenk, and financial education resources for students, faculty, staff, and alumni.
• University of MarylandflagshipGTM or Marketing PartnerSECU is the Official Banking Partner of the Maryland Terrapins. Partnership includes affinity debit card (UMD Terps Debit Card), exclusive Terps perks, and financial services tailored for University of Maryland students and alumni.
• Restaurant Association of MarylandcoreGTM or Marketing PartnerBusiness partnership providing SECU membership and financial wellness benefits to restaurant industry employees through the Restaurant Association of Maryland. Includes Virtual Financial Center support and streamlined membership process.
• Enterprise Car SalesminorChannel Partner/ Reseller/ DistributorSECU partnered with Enterprise Car Sales to provide members with haggle-free car buying access to quality late-model vehicles. Members are protected by a 7-day/1,000 mile re-purchase agreement.
• GreenPath Financial WellnesscoreStrategic or Co-development PartnerGreenPath Counseling Services provides free financial counseling and debt management services to SECU members as part of the credit union's financial coaching offerings.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Bethpage Federal Credit Union: Large New York-based community federal credit union offering a comparable full-service retail, lending, and digital banking stack to a defined field of membership — a close analogue to SECU's Maryland state-chartered cooperative model.
• SchoolsFirst Federal Credit Union: California's largest school-employer-based credit union, structurally similar to SECU's employer/affinity-based membership model, with a similar mix of deposits, consumer lending, and digital-first member service.
• Connexus Credit Union: National community credit union with strong digital/mobile capabilities, broad field of membership, and a full product suite spanning deposits, consumer lending, and business banking — directly comparable to SECU's hybrid physical/digital distribution.
• Digital Federal Credit Union (DCU): Technology-forward Massachusetts-based credit union serving a broad community field of membership, with competitive deposit, lending, and digital banking products — similar in scope and digital ambition to SECU.
• Alliant Credit Union: Open-membership, digital-first national credit union offering competitive deposit, lending, and credit card products. Comparable to SECU in that it leverages a wide eligibility net to grow members across geographies.
• Patelco Credit Union: California-based community credit union offering a comparable full-service suite (checking, savings, mortgages, auto, business banking) with a strong digital channel — a state-chartered analogue to SECU's scale and scope.

Regional players

• APGFCU (Aberdeen Proving Ground Federal Credit Union): Maryland-headquartered federal credit union operating in overlapping Mid-Atlantic geography; competes for the same Maryland households, businesses, and affinity groups as SECU, making it a direct regional rival.

Broad incumbents

• Navy Federal Credit Union: The largest U.S. credit union, serving military-affiliated members nationwide with a full digital and physical banking platform. While not a direct community competitor, its scale, brand, and digital investment set the upper bound of credit union competition SECU faces.
• M&T Bank: Large Mid-Atlantic regional commercial bank with deep Maryland retail and small-business presence. Overlaps with SECU on deposits, mortgage, and small-business banking, and benefits from broader product and capital flexibility.
• Pentagon Federal Credit Union (PenFed): National credit union offering a broad product suite including mortgages, auto loans, and credit cards, with strong digital capabilities. Comparable to SECU on product breadth and member-service orientation, but operates at meaningfully larger scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/secuMD
• YouTubeyoutube.com/user/SECUofMaryland
• Facebookfacebook.com/secuMD
• LinkedInlinkedin.com/company/secu_2
• Instagraminstagram.com/secumd

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about SECU