State Employees Credit Union

What is the State Employees Credit Union?

The State Employees Credit Union is a state chartered credit union regulated under the specific authority of the Credit Union division of the North Carolina Department of Commerce. Headquartered in Raleigh, North Carolina, the State Employees Credit Union offers member deposits that are insured by the National credit Union Administration of the United States Federal Government. The State Employees Credit Union is the second largest natural member credit union in the nation (only the Navy Federal Credit Union ranks higher in regards to assets under management and membership statistics).

Quick facts about the State Employees Credit Union:

• The State Employees Credit Union was founded in 1937

• The current President of the State Employees Credit Union is Jim BlaineThe State Employees Credit Union operates with over $22 billion in assets and over 1.6 million members.

• The State Employees Credit Union has 236 branches located throughout the country; however, membership in the union is only limited to employees of the state of North Carolina and their families.

• The State Employees Credit Union was incorporated in 1937 by employees of the state of North Carolina. At this time, the organization operated with under $500 in assets and only 17 members. By 1960, the Union grew to serve over 70,000 members and possessed over $25 million worth of assets.