Wednesday, October 27, 2010

Employees Credit-Employees Credit Union

State Employees Credit Union (SECU) is a state chartered credit union headquartered in Raleigh, North Carolina regulated under the authority of the National Credit Union Administration (NCUA) of the U.S. federal government. SECU is the second largest natural member credit union in the United States, both in asset size and in membership.

As of 2009, SECU has $18.4 billion in assets, 1.5 million members, and 225 branches. Membership in the credit union is limited to employees of the state of North Carolina and their families.
State Employees Credit Union was originally incorporated on June 4, 1937 by employees of the State of North Carolina. The credit union began with $437 in assets and 17 members and was first operated from the basement of Raleigh's Agriculture Building. By 1960, the credit union grew to serve over 70,000 members and had assets of almost $25 million.

Government Employees Credit Union or GECU is a state chartered credit union headquartered in El Paso, Texas and regulated under the authority of the National Credit Union Administration (NCUA). As of 2008, GECU had $1.4 billion in assets and approximately 282,000 members. Membership in the credit union is open to anyone who works or lives in El Paso County.

Washington State Employees Credit Union, or simply WSECU, is the second largest credit union in the state of Washington in terms of assets, behind Boeing Employees Credit Union. WSECU is a closed membership credit union, open to all city, county, state, higher education, and public school employees in Washington, as well as students of public higher education institutions in the state. There are 18 branches exclusively in the state of Washington spanning from Pullman to Olympia to Seattle.
A credit union is a cooperative financial institution that is owned and controlled by its members and operated for the purpose of promoting thrift, providing credit at reasonable rates, and providing other financial services to its members.

No comments:

Post a Comment