State Employees Credit Union offers an extensive array of deposit accounts with low or no minimum opening deposits and competitive annual percentage yields (APYs) for savings and money market accounts. However, to join this credit union you must have some connection to North Carolina through employment or residency – as well as being able to use its branches or fee-free ATMs.
Low minimum opening deposit requirement
SECU offers low minimum opening deposit requirements and competitive rates, with savings accounts offering an annual percentage yield up to 0.31% APY which exceeds even that of national average savings accounts. Furthermore, money market accounts offer advantageous interest rates.
Credit unions typically offer share term certificates ranging in term from six months to five years that offer higher APY than bank CDs and can easily be opened online or over the phone.
The credit union serves a diverse membership base of state employees and their families, boasting 260 statewide branches, 1100 CashPoints ATMs, 24/7 member services via phone or online and lower account fees than many banks; members also enjoy two fee-free days each year in case of overdrafts. It provides mobile banking apps for both iOS and Android devices but doesn’t boast a nationwide ATM network like some banks do.
High APYs on share certificates
State Employees Credit Union in Greenville NC offers an array of personal banking and financial services, such as savings, checking, money market and certificate accounts. Members also enjoy online and mobile banking capabilities. Serving Western North Carolina since 1935 and federally insured by the National Credit Union Administration.
SECU’s traditional share certificates offer a fixed interest rate over an agreed-upon term, enabling members to cash out or renew them automatically at the end of this period. Terms range from 6-60 months; members may also create certificate ladders so as to withdraw funds at staggered intervals without incurring early withdrawal penalties.
SECU boasts branches throughout North Carolina and offers an extensive variety of banking services, such as bill pay, check image viewing, Quicken integration and transaction history monitoring. In addition, SECU is part of CashPoint ATM network as well as providing financial education resources.
Low minimum balance requirement for share savings account
Credit unions provide members with a range of deposit accounts, such as savings, checking and money market accounts at competitive fees and annual percentage yield rates. Members can access their funds using ATMs, online banking or phone banking – they can even visit one of their branches directly.
Credit unions typically have lower minimum balance requirements compared to banks. Furthermore, multiple accounts with the same name can be opened so it is easier to monitor balances. This helps avoid fees and penalties associated with overdrawing an account.
Credit unions go beyond offering regular savings and checking accounts to offer more specialized savings and retirement accounts, including Summer Cash for public school employees to save for unpaid summer months; retirement accounts such as Roth, Traditional or Simplified Employee Pension IRAs that help secure your future; senior share certificates which offer higher interest rates than regular accounts – these all come together to form comprehensive retirement solutions.
Member services are available 24/7
State Employees Credit Union is a not-for-profit financial cooperative owned by its members. Members have access to consumer financial services such as checking, savings and money market accounts; IRAs; loans; credit cards and much more besides notary1 and signature guarantee2 services.
SECU offers members access to its network of branches throughout the state. Each is staffed with knowledgeable and friendly people who can answer your questions about products and services that best suit you, while Member Access allows for online banking transactions similar to what would be found at physical branches.
Contacting the SECU’s 24-Hour Member Services by phone using either the last four digits of your debit card number, or its three-digit voice response number is always possible. Furthermore, Member Access is accessible from your mobile phone app.
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