RALEIGH, N.C.--(Business Wire)--
State Employees’ Credit Union (SECU) recently relocated its Salisbury Street
branch to the site of the original 1937 SECU location in the basement of the
State Agriculture Building in downtown Raleigh. This historic move paves the way
for a new state-of-the-art Credit Union facility, providing SECU with a
permanent footprint in North Carolina’s State Government Complex. While the move
to the Agriculture location is temporary, it offers SECU and its members the
opportunity to reflect on the humble beginnings of their cooperative. Starting
with 17 members and $437, the Credit Union has experienced tremendous growth and
now serves 1.5 million members with nearly $17 billion in assets.
The growth of the organization has resulted in the need for a larger SECU
facility in the downtown State Capital area. SECU’s Board of Directors is in the
final planning stages of the building design and has offered an artist’s
rendition of the proposed SECU site. The building is expected to positively
impact the growth of the downtown area, helping to boost North Carolina’s
economy. In conjunction with SECU’s privately funded expansion, the State of
North Carolina is also expanding the nearby North Carolina Museum of Natural
Sciences, as well as other State Government offices.
Ninety-five year old Mary B. Lassiter, one of the early SECU members who joined
in the 1930s, was excited to hear of the recent relocation back to the State
Agriculture Building. Mary recalls when nearly all North Carolina banks had been
liquidated and SECU was established as an alternative for State employees. “SECU
began in a tiny room in the Agriculture Building and my first deposit was around
fifty cents. It is amazing to see the power of a cooperative and how our Credit
Union has flourished throughout the years, but always remained true to its roots
-- providing loans for those who need it most and giving North Carolina’s State
employees financial services at fair and reasonable rates.”
About SECU
SECU is a non-profit financial cooperative owned by its members. SECU has been
providing the employees of the State of North Carolina and their families with
consumer financial services for over 70 years. Currently serving nearly 1.5
million members, SECU provides services through 223 branch offices, over 1,000
ATMs, two call centers and a website—www.ncsecu.org.
SECU
Leigh Brady, Senior Vice President Education Services,
919-807-8344: leigh.brady@ncsecu.org
Copyright Business Wire 2008
