State Employees' Credit Union

State Employees' Credit Union is a state-chartered credit union headquartered in Raleigh, North Carolina. It is the second-largest credit union in the United States by assets. The credit union was founded in 1937 to serve state government employees in North Carolina and has since grown to become a major financial institution for that community.

State Employees' Credit Union is a member-owned, not-for-profit financial cooperative. It is insured by the State Employees' Credit Union's own insurance fund as well as carrying additional protection, which is distinct from NCUA insurance. North Carolina law provides a specific regulatory and insurance framework for this credit union. Depositors should verify the current insurance arrangements directly with the credit union.

Membership is restricted to employees of North Carolina state government agencies and public school systems, retirees from those bodies, and their immediate family members. This includes state university employees, community college staff, and other public-sector workers in North Carolina. The restriction means it is not available to most private-sector employees.

State Employees' Credit Union commonly offers checking and savings accounts, auto loans, mortgages, personal loans, and credit cards. Its auto loan rates and mortgage products are frequently cited as competitive within North Carolina. The credit union operates a large network of branches throughout the state and also provides full online and mobile banking services.

Because membership is limited to North Carolina public employees and their families, this credit union is highly relevant for that specific group. If you are a qualifying member, comparing its rates and products with other financial institutions before making borrowing or saving decisions is advisable.