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State Employees' Credit Union ( SECU) is an American state-chartered credit union headquartered in Raleigh, North Carolina regulated under the authority of the Credit Union Division of the North Carolina Department of Commerce.
State Employees Credit Union of Maryland (also known as SECU of Maryland or SECU Maryland or SECU MD) is a state-chartered credit union headquartered in Linthicum, Maryland. [3] It is the largest federally-insured credit union in the state [4] [5] [6] and is regulated under the authority of The Office of the Commissioner of Financial Regulation, State of Maryland. [7] [8]
Washington State Employees Credit Union (WSECU) is an American not-for-profit financial cooperative and the second largest credit union in the state of Washington. [2] Membership is open to those who live, work, or worship in the state, and their relatives. [3]
The Federal Deposit Insurance Corporation federally insures most traditional banks in case of failure. But credit unions are not considered traditional banks. Is a credit union FDIC insured?
A credit union is a member-owned financial cooperative, democratically controlled by its members, and operated for the purpose of promoting thrift, providing credit at competitive rates, and providing other financial services to its members. [1] Credit unions in the United States may either be chartered by the federal government [2] or a state government. [3] The National Credit Union ...
State ECU (also known as State Employees Credit Union of New Mexico or SECU New Mexico) is a federal not-for-profit [2] credit union headquartered in Santa Fe, New Mexico.
PSECU (also known as Pennsylvania State Employees Credit Union) is a state-chartered credit union headquartered in Harrisburg, Pennsylvania. [1] PSECU is a not-for-profit financial entity [2] that serves more than 480,000 members and manages over $7.5 billion in assets.
Due to their small size and limited exposure to mortgage securitizations, credit unions weathered the financial crisis of 2008 reasonably well. However, two of the biggest corporate credit unions in the United States ( U.S. Central Credit Union and WesCorp) with combined assets of more than $57 billion were taken over by the National Credit Union Administration [9] on March 20, 2009.