SECU
SECU is a not-for-profit, member-owned credit union founded in 1937, serving 2.9 million North Carolina state employees and their families through 275 branches, 1,100 ATMs, and a full digital banking platform with $60 billion in assets.
- Company typePrivate
- Founded1937
- HeadquartersRaleigh, United States
- Headcount5,001–10,000
- GTM typeB2C
- OfferingServices
What SECU does
SECU (State Employees' Credit Union), founded in 1937 and headquartered in Raleigh, North Carolina, is a not-for-profit, member-owned credit union cooperative chartered to serve North Carolina state employees and their immediate family members. The institution operates 275 branches across North Carolina and a 1,100-ATM CashPoints network, serving approximately 2.9 million members with $60 billion in assets. SECU delivers a full-service retail banking and lending platform including checking, share (savings), money market, share term certificates (CDs), HSAs, credit cards, fixed and adjustable-rate mortgages, HELOCs, auto loans, personal loans (including salary advance loans up to $500), and youth banking (FAT CAT for ages 0-12, Zard for teens 13-19). Complementary offerings include term and whole life insurance through SECU Life Insurance Company, investment advisory and brokerage through Credit Union Investment Services and SECU Brokerage Services, trust and estate planning via Members Trust Company, and third-party auto/home/pet/travel insurance. Digital access is delivered through the SECU Mobile App (Android 11+) and Member Access online platform, with multi-factor authentication, real-time loan advances, bill pay, alerts, and Quicken data export.
The underlying technology stack is anchored by a newly adopted core processing platform — Corelation's Keystone — implemented in 2026 to replace a prior system updated in 2023, intended to enable real-time account information, holistic member relationship views, and faster product rollout. Other integrations include NMLS Registry for mortgage loan officer verification and TrueCar for the SECU Car Buying Service.
SECU's business model is that of a credit union cooperative: it generates net interest income from lending and investments and fee/commission income from insurance, brokerage, and advisory services, with surplus returned to members via lower loan rates, higher deposit dividends, and reduced fees. Specific rates are not publicly listed. The credit union markets primarily through community financial education events (1,550 events reaching 134,500+ participants in 2025), member testimonials, and earned-media recognition (Forbes Best-in-State Credit Union 2018-2024, Money.com Best Member Service 2024, PLANSPONSOR Plan Sponsor of the Year 2024). SECU is independently governed, has no parent company or external PE/VC ownership, and operates wholly-owned subsidiaries including SECU Life Insurance Company, CUIS, SECU Brokerage Services, and SECU*RE Rental Housing Locator, alongside the affiliated SECU Foundation for community grants.
SECU firmographics
Firmographics- Name
- SECU
- Legal name
- State Employees' Credit Union
- Website
- https://ncsecu.org
- Company type
- Private
- Founded year
- 1937
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Short description
- SECU is a not-for-profit, member-owned credit union founded in 1937, serving 2.9 million North Carolina state employees and their families through 275 branches, 1,100 ATMs, and a full digital banking platform with $60 billion in assets.
- Ownership category
- akta.pro rank
SECU industry classification
Industry- Product category
- Retail Banking
- NAICS
- Credit Unions (52213), Depository Credit Intermediation (5221)
- SIC
- State Commercial Banks (6022)
- akta.pro primary industry
- Community Credit Unions (Retail/Consumer Focus) (FSABAEAA)
Keywords
Where SECU is headquartered
LocationHeadquarters
- HQ city
- Raleigh
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
SECU business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others
Revenue model
- Net Interest Income: As a not-for-profit credit union, SECU generates revenue primarily through net interest income from loans (mortgages, auto loans, personal loans, HELOCs, credit cards) and investments, returning value to members through lower rates and higher dividends.
- Financial Services Revenue: Revenue from financial advisory services through Credit Union Investment Services, Inc. (CUIS), SECU Brokerage Services, Inc. (Member FINRA/SIPC), insurance products through SECU Life Insurance Company, and trust services through Members Trust Company.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Monthly | Membership-based financial services with no annual fees on credit cards |
Go-to-market motion1 record
Distribution channels5 records
Marketing channels3 records
SECU product offering
Product offeringCore offering
SECU is a not-for-profit, member-owned credit union providing full-service retail banking, consumer lending, and mortgage products to North Carolina state employees and their families. The credit union offers checking, savings, money market, and certificate accounts; credit cards; fixed-rate, adjustable-rate, and home equity mortgages; auto and personal loans; life insurance and annuities; estate planning and trust services; and investment advisory and brokerage services. Distribution occurs through 275 branches, 1,100 CashPoints ATMs, the Member Access mobile and online platform, and telephone banking.
Product overview
SECU (State Employees' Credit Union) is a not-for-profit member-owned financial cooperative serving North Carolina state employees and their families. The organization offers a comprehensive suite of financial products through a unified banking platform, organized around core deposit accounts (checking, savings, money market, certificates), credit products (credit cards, mortgages, auto loans, personal loans), and complementary services (insurance, estate planning, trust services, investment advisory). Digital access is provided through Member Access (online and mobile banking). The product portfolio centers on the member relationship model, where checking accounts serve as the primary gateway, supported by savings products (including youth accounts FAT CAT and Zard, and retirement accounts), mortgage offerings (fixed rate, ARM, HELOC, refinancing), consumer lending (auto, personal), and protection/planning services (life insurance, estate planning, trust services via Members Trust Company, and third-party insurance products).
Differentiator
Problem solved
Functional benefit
Brands
- SECU Life Insurance Company: Wholly-owned life insurance subsidiary offering Term Life and Whole Life insurance products to North Carolina residents.
- SECU Foundation
- CashPoints
- FAT CAT
- Zard
Products and services
- Checking Account A primary transactional account providing access to funds with direct deposit, bill pay, account alerts, and Visa debit card access for SECU members.
- Share (Savings) Account Basic share savings account earning dividends, serving as the foundational membership account for accessing other credit union services.
- Money Market Share Account Savings account earning dividends at tiered rates based on balance, providing higher yields than regular share savings while maintaining liquidity.
- Share Term Certificates (STCs) Certificate of deposit product with fixed terms and rates, providing guaranteed returns on deposited funds for specified periods.
- Health Savings Account (HSA) Tax-advantaged account for individuals with high-deductible health plans, allowing members to save for qualified medical expenses.
- Credit Cards (Visa) Visa credit card offerings including Cash Rewards, Points Rewards, and Classic cards with no annual fees, featuring rewards programs.
- Fixed Rate Mortgages Home loans with fixed interest rates providing predictable monthly payments for 10, 15, 20, or 30-year terms for primary residences, second homes, and investment properties.
- Adjustable Rate Mortgages (ARM) Home loans with interest rates that adjust every five years, typically offering lower rates than fixed options for the initial five-year period with 2%/5-year and 6% lifetime rate caps.
- Home Equity Line of Credit (HELOC) Revolving credit line secured by home equity allowing members to borrow up to 90% of primary/secondary home value or 65% of investment property value, with a 15-year draw period and variable rates (properties limited to NC, SC, VA, GA).
- Mortgage Refinancing Options to replace existing mortgages with new loans, potentially with better terms, lower rates, or cash-out access to home equity.
- Special Mortgage Programs Includes Federal Home Loan Bank of Atlanta (FHLBA) grants for first-time homebuyers, manufactured home loans, and historic preservation home loans.
- Auto Loans Vehicle financing for new and used cars, including the SECU Car Buying Service powered by TrueCar for upfront pricing and GAP coverage options.
- Personal Loans Unsecured lending options including Signature Loans (Open-End and Closed-End), Term Notes, Salary Advance Loans (up to $500), and Share-Secured Loans.
- FAT CAT Share Account Savings account for children ages 0-12, includes free $1,000 Group Term Life Insurance, with optional coverage increase to $10,000 for $18/year.
- Zard Accounts Savings and spending accounts designed for teenagers ages 13-19, helping young members develop money management skills.
- Term Life Insurance Temporary life insurance offered through SECU Life Insurance Company, available in 10, 15, 20, 25, or 30-year terms with coverage up to $500,000 for ages 18-50. No medical exams required.
- Whole Life Insurance Permanent life insurance offered through SECU Life Insurance Company with coverage for the insured's lifetime, building cash value over time. Available for ages 0-69 with coverage up to $100,000.
- Annuities Annuity products offered through SECU Life Insurance Company to provide retirement income streams.
- Insurance Products Additional insurance offerings including auto & home insurance, Medicare plans, travel insurance, and pet insurance through partners such as Safeco and Allianz.
- Estate Planning Essentials (EPE) Program Partnership with Members Trust Company providing members access to attorneys at local SECU branches to establish estate plans at predetermined prices.
- Trust Services Fiduciary services through Members Trust Company including Corporate Trustee Services, Corporate Executor Services, Agent for Trustee Services, Estate Settlement, and FlexIRA management.
- Financial Advisory Services Investment advisory and retirement planning services offered through Credit Union Investment Services, Inc. (CUIS) with securities through SECU Brokerage Services, Inc.
- Member Access SECU's online and mobile banking platform providing 24/7 access to accounts, bill pay, alerts, statements, real-time loan advances, credit card cash advances, balance transfers, and Quicken download.
- NC 529 Plan Education savings plan administered by NC 529 to help families save for qualified education expenses with tax advantages.
Quantifiable outcome
- 2.9 million members served across 275 North Carolina branches
- +1 more outcomes
Companies that use SECU
Customer profileNamed customers3 records
Segments1 record
Ideal customer profiles1 record
SECU technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
Feature1 record
SECU partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core and minor.
- CorelationcoreSECU adopted Corelation's Keystone core processing infrastructure in 2026, replacing its previous system. This modernization aims to provide SECU's 2.9 million members with a more responsive platform capable of rolling out new products while increasing automation and service efficiency.
- Safelight, Inc.minorSECU Foundation awarded $500,000 grant to Safelight, Inc. to expand its domestic violence shelter in Henderson County, NC. The expansion will increase shelter capacity from 13 to 20 rooms and enhance programs for survivors of violence.
- Grace Clinic of Yadkin ValleyminorSECU Foundation awarded a $600,000 challenge grant to Grace Clinic of Yadkin Valley for constructing a new medical facility in Elkin, NC. The new clinic will expand healthcare services and increase capacity for over 600 patients annually.
- TrueCarcoreSECU partners with TrueCar to power the SECU Car Buying Service, providing members with upfront pricing through a TrueCar-powered tool for smarter car purchasing.
- Members Trust CompanycoreSECU partners with Members Trust Company to offer comprehensive Trust and Fiduciary Services to members including Corporate Trustee Services, Corporate Executor Services, and the FlexIRA estate planning solution. Members Trust Company is a federal thrift regulated by the Office of the Comptroller of the Currency.
- SECU Life Insurance CompanycoreSECU Life Insurance Company is a wholly-owned subsidiary of State Employees' Credit Union that offers Term Life and Whole Life Insurance products to NC residents with no medical exams required.
- CMFG Life Insurance CompanycoreCredit insurance products (Credit Life Insurance and Credit Disability Insurance) are underwritten by CMFG Life Insurance Company and available on SECU personal loan products.
Scale indicators6 records
Recent moves5 records
Expansion highlights5 records
SECU competitors and assessment
Company assessmentBroad incumbents
- First Citizens BancShares: North Carolina-headquartered publicly traded bank, a major in-state competitor to SECU across retail and commercial banking. Comparable NC presence but operates as a for-profit institution with public equity capital.
- Truist Financial Corporation: Top-10 US commercial bank and one of SECU's largest for-profit competitors in North Carolina. Competes directly on mortgages, consumer lending, deposits, and wealth management — operates as a broad incumbent rather than a cooperative.
Regional players
- Self-Help Credit Union: North Carolina-based credit union focused on community development lending and underserved populations. Overlaps with SECU's NC geography while differentiating on mission-driven lending rather than full-service retail banking.
- Coastal Federal Credit Union: North Carolina-headquartered credit union and one of SECU's primary in-state competitors. Operates a similar branch-based model targeting NC consumers and small businesses — directly overlapping with SECU's geographic footprint.
Direct peers
- Boeing Employees Credit Union (BECU): One of the largest US credit unions, originally serving Boeing employees but now with broader community membership. Comparable to SECU as a large employer-affiliated cooperative with full banking services and a member-focused operating model.
- PenFed (Pentagon Federal Credit Union): Large federal credit union serving military, DoD, and broader membership with nationwide digital banking and full product suite including mortgages, auto loans, and credit cards — directly comparable to SECU's membership-based, full-service model.
- America First Credit Union: Large Utah-based credit union with broad community membership and a comparable asset size tier to SECU, offering deposit, lending, mortgage, and digital banking products to retail and small business customers.
- Navy Federal Credit Union: The largest credit union in the US, serving a closed membership base (military members, veterans, DoD employees). Comparable to SECU as a large, membership-restricted, employer-affiliated credit union with broad product offerings and a not-for-profit structure.
- Golden 1 Credit Union: California-based credit union with state employee roots and broad community membership, ~$20B+ in assets. Comparable to SECU in scale, full-service product offering, and member-owned cooperative structure serving a defined employee base.
- SchoolsFirst Federal Credit Union: Largest credit union serving California school employees and their families, with a similar employment-based membership model, branch network, and comprehensive financial services — directly analogous to SECU's state employee base.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
SECU social profiles
Digital presenceSECU compliance and trust
Trust signalCompliance1 record
SECU financial estimates
Financial estimateRevenue estimate
Valuation estimate
SECU leadership team
Management profileNumber of profiles
SECU subsidiaries and ownership
Company hierarchySubsidiaries5 records
SECU funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
SECU M&A and investment
M&A and investmentM&A
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about SECU
What does SECU do?
SECU is a not-for-profit, member-owned credit union providing full-service retail banking, consumer lending, and mortgage products to North Carolina state employees and their families. The credit union offers checking, savings, money market, and certificate accounts; credit cards; fixed-rate, adjustable-rate, and home equity mortgages; auto and personal loans; life insurance and annuities; estate planning and trust services; and investment advisory and brokerage services. Distribution occurs through 275 branches, 1,100 CashPoints ATMs, the Member Access mobile and online platform, and telephone banking.
Is SECU a public or private company?
SECU is a private company. It is classified as nonprofit foundation owned and is currently operating.
When was SECU founded?
SECU was founded in 1937. It employs 5,001 to 10,000 people.
Where is SECU based?
SECU is headquartered in Raleigh, United States, in the North America region.
How does SECU make money?
Two revenue lines are on record. Net Interest Income is the primary driver. The others are financial Services Revenue.
Who are SECU's main competitors?
Broad incumbents on record are First Citizens BancShares and Truist Financial Corporation. Regional players are Self-Help Credit Union and Coastal Federal Credit Union. Direct peers are Boeing Employees Credit Union (BECU), PenFed (Pentagon Federal Credit Union), America First Credit Union, Navy Federal Credit Union, Golden 1 Credit Union and SchoolsFirst Federal Credit Union.
Does SECU have an API?
No public API is recorded for SECU.
What industry is SECU in?
SECU's product category is Retail Banking. Its primary akta.pro industry code is FSABAEAA, Community Credit Unions (Retail/Consumer Focus). Its NAICS code is 52213 and its SIC code is 6022.