State Employees Credit Union of North Carolina boasts 108 branches throughout its home state. One such location can be found on 108 Olive Branch Rd in Durham. With high customer satisfaction ratings and competitive deposit account fees, this bank offers low fees.
SECU recently appointed industry regulator Jim Hayes as its new CEO. Hayes has already begun restructuring SECU’s senior leadership and making fundamental changes that were long rejected by their predecessors.
Locations
State Employees Credit Union of Durham North Carolina is a not-for-profit financial institution serving State employees and their families with consumer financial services at extremely reasonable fees and rates. Plus, as it’s owned and controlled by its members – giving members control over its management!
State Employees Credit Union in South Square offers an ideal setting to manage your money. Their friendly and helpful staff is knowledgeable about their products, plus there’s even an app available that makes managing accounts from anywhere convenient.
This SECU location currently holds a 5 out of 5-star customer review rating. Share your experience by writing one today.
Checking accounts
Credit union membership provides its members with low rates on checking accounts and an extensive range of share certificates, along with two fee-free days every year in case of overdrafts.
Membership to North Carolina State Employees Federal Credit Union is restricted primarily to employees of the state of North Carolina and their families, though ATM and branch networks exist throughout North Carolina and outside. Services offered are also not widely accessible elsewhere.
Ayer says he’s heard complaints from board members regarding the credit union’s lack of investment in technology and slow implementation of new service offerings. To build trust among members in light of an economic downturn, Ayer intends to focus on strengthening relationships. Furthermore, he’d like to see more business loans offered with risk-based pricing;
Savings accounts
State Employees Credit Union, established in 1937, serves North Carolina state employees and their families through hundreds of branches and ATMs throughout the state. Offering various personal banking products including checking, savings, Money Market Certificate and Education Savings accounts as well as personal loans and credit cards; SECU has something to meet everyone’s banking needs!
SECU has adjusted their lending approach to emphasize “tier-based lending”, offering various rates based on financial standings – in contrast to its peers which typically charge higher interest rates for better credit ratings and lower ones for poorer ones.
Hayes claims that while his changes have caused some disagreement, they will ultimately make SECU an even better workplace. To this end, he has relaxed dress codes, expanded health plan benefits, added parental and bereavement leaves as well as improved technology.
Loans
State Employees Credit Union provides members with access to a wide variety of financial services and international money transfer fees up to 8x less expensive than banks. Durham-Gust Road branch offers comprehensive products and services including an award-winning mobile app which makes transferring and depositing checks quick and convenient, or you can call our Member Service Line and request check advances – you could even save yourself some cash!
SECU has long defied traditional credit union and commercial bank practices. Their risk-based lending strategy often offers loan rates lower than competing banks while not adhering to regulations set forth by quasi-government agencies – actions which have often proved unpopular among regulators but allowed SECU to offer competitive pricing.
Financial education
Credit union membership benefits at our credit union include online banking and mobile apps for members to utilize, in-branch locations open Monday-Friday between 8:30 am and 5:30 pm and customer service representatives available 24/7 to answer members’ inquiries by phone, chat feature or in person.
Current membership for this credit union is restricted to state and local government employees; however, plans are underway to widen membership eligibility by offering business loans – something its competitors can offer with better terms on such loans.
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