State Employee Credit Union in Kinston NC

In 2004, the SECU Foundation was created by its Board of Directors as a way of helping identify and address community needs outside its purview. Funded through individual members’ contributions, SECU Foundation projects promote local community development primarily by undertaking high impact initiatives related to education, housing and healthcare.

Member-Owned Cooperative

Credit unions like SECU are owned and run cooperatively by their members, offering affordable financial services such as checking and savings accounts, loans, mortgages and investment savings vehicles to members at competitive rates. Furthermore, these cooperatives offer member education as well as financial planning to their membership.

To become a member, one must be employed by either the State of North Carolina, federal employees assigned to work in North Carolina or certain county-level governments within North Carolina. Membership also extends to immediate family members.

At the request of local government personnel in rural towns and counties not currently served by other Credit Unions, SECU opened up its field of membership to include these communities in 1977. Bankers sued and the case resulted in a split ruling; this helped teach bankers about cooperatives. Later on in 2004, SECU established its Foundation as a way of identifying and addressing community issues beyond its normal scope, funded by members thereby reinforcing our core value of People Helping People.

Member Benefits

The credit union offers numerous member benefits to assist its members with saving money and effectively managing their finances, such as online access, loan rates and financial education. Furthermore, members can take advantage of other financial products and services such as mortgage loan programs or insurance options provided by the credit union.

SECU is a not-for-profit financial cooperative owned by its members that has provided employees of North Carolina State government and their families with consumer financial services for over 80 years. SECU strives to enhance members’ economic lives and social conditions by alleviating poverty and creating economic awareness through various consumer protection programs.

Ben McLawhorn has been an at-large Board member since 1994 and holds degrees from Morehouse College and Vanderbilt University School of Law. Additionally, he has held several senior level positions within North Carolina government including Inspector General and Deputy Secretary for Department of Administration.

Financial Education

North Carolinians don’t always receive the necessary financial education when it comes to handling money responsibly, which is why SECU partners with local groups across North Carolina to host financial literacy workshops for teens. At these sessions, teens will learn about entrepreneurship, saving, budgeting and planning their financial futures.

Credit unions also provide financial planning services for members, helping them create emergency funds, assess financing options for major purchases, build retirement assets and review insurance policies while saving on international money transfer fees.

Greater Kinston Credit Union now has an outstanding manager working to turn around its fortunes. Loan originations has increased and profitability is back. This dramatic turnaround has even garnered national media coverage, offering hope in difficult times.

Community Development

State Employee Credit Union in Kinston North Carolina‘s Community Development Financial Institution (CDFI) program offers loans and services to communities that are underserved by conventional banks, including rural areas, minorities and low-income families. CDFIs also provide affordable home mortgages, consumer loans and small business loans tailored specifically to these populations.

LFNC Fellows have already had tremendous impact on their respective local communities. One Fellow from Lenoir County is helping a non-profit build new housing for adults recovering from addiction or incarceration; his efforts play an essential role in fulfilling its mission to provide employment training services for these individuals.

LFNC program’s success can be attributed to both Fellows and their supervisors working tirelessly and with dedication; but also depends on a wide variety of funders such as State Employees Credit Union Foundation People Helping People Scholarship as an essential partner.