State Employees' Credit Unions in North Carolina Key Terms

Learning about SECU's programs helps you get the most out of your membership
By Deborah Barr If you are a North Carolina teacher or another type of state employees, or a family member of someone who is, the State Employees' Credit Union can be a valuable resource for managing your money. Credit unions are owned by their members and do not exist to make a profit. That's why at SECU, like most other credit unions, you can usually get better credit card interest rates, lower car loans, lower mortgage rates and higher interest on certificates of deposit. SECU also offers many unique services that have been designed to meet the needs of their members.
 

Here are just a few:

Green loans

The North Carolina state employees credit union (SECU) offers two types of "green" loans: one for vehicles and one for home mortgages. To qualify, vehicles must get a combined total of 28 miles per gallon, and homes must have an Energy Star rating. Vehicles and homes that meet these requirements qualify for better rates from SECU.
Try: To learn more about vehicle fuel economy, SECU recommends the fueleconomy.gov website. To learn more about Energy Star ratings for homes, SECU suggests the ENERGY STAR website.

Holiday cash club account

The SECU holiday cash club account allows members to save money for their annual holiday shopping spree. Members can set aside cash each month through October. At the end of October, the accumulated funds automatically transfer to the account specified by the member.
Try: You can find the details about the holiday cash club account at the SECU website.

Zard

Zard is SECU's Life Stages program for teens. Members ages 13-19 learn money management skills through Zard. Zard offers interest-bearing checking accounts, first-time car buyer loans, a Zard Card Visa check card, computer loans and many other options geared to the needs and interests of teens.
Try: Check out teenzard.org, SECU's website just for teens members. You don't need a user name and password to browse the site's features.

Golden Circle Club

The Golden Circle Club is one of SECU's Life Stages deposit accounts. It is offered to members who are age 50 and older. Golden Circle Club members enjoy many benefits including free notary services, free money orders, two free boxes of checks per year, free cashier's checks and two free wire transfers per month.
Try: You can learn more about the Golden Circle Club at the SECU website.

CESA

Parents, grandparents, and others can establish a Coverdell Education Savings Account (CESA) for a beneficiary under the age of 18. A CESA is a tax-deferred way to pay for elementary, secondary and college education expenses. Up to $2000 per tax year may be contributed.
Try: To learn more about Coverdell Education Savings Accounts visit the Internal Revenue Service (IRS) website.

Summer cash program

The summer cash program is an aid to public school system and community college employees who do not receive paychecks 12 months out of the year. During the months when they are paid, participants designate a portion of their income to be set aside for the summer months when they do not receive paychecks. This money earns interest as cash accumulates.
Try: To learn more about the summer cash program, visit the SECU website.