State Employees’ Credit Union Review 2023
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At a glance

CDs
Checking
Savings
MMA
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Overview
With a full suite of deposit accounts, State Employees’ Credit Union is a good option for workers in North Carolina looking for affordable banking products with a local provider.
Highlights
- Low Fees
- 24/7 Customer Service
- Highly Rated App
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.

APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Overall
State Employees’ Credit Union offers all of the standard deposit accounts, including share certificates, savings, checking and money market accounts. APYs on these products are not very competitive, but they charge minimal fees and have low minimum opening deposit requirements.
Though members don’t necessarily have to live in North Carolina, they do need to have a connection to the state through their employment. Plus, branches and fee-free ATMs are limited to North Carolina.
Pros
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Accounts charge minimal fees.
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There are low barriers to entry — most accounts have no or a low minimum opening deposit requirement.
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APYs on share certificates are fairly competitive.
Cons
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Higher rates for savings and money market accounts can be found elsewhere.
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Checks and ACH transfers aren’t available for savings and money market accounts.
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You need to have some connection to North Carolina through employment to be eligible for membership.
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ATMs and branches are limited to North Carolina.
State Employees’ Credit Union banking products
FEATURES
State Employees’ Credit Union savings overview
The APY, however, is low. You also can’t write checks or make ACH transfers from the account, though transactions can be made against the account from an ATM, online or at a branch. Unlike other types of accounts offered, funds in the share savings account can be used as collateral for loans from the credit union.
Pros
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The $25 minimum balance requirement is low.
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There’s no monthly fee.
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Funds can be used as collateral for loans.
Cons
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Much higher rates on savings can be found elsewhere.
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Members cannot write checks against or make ACH transfers from the account.
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See how rates for this account have changed over time. Interact with the trend lines to view APY by date.
State Employees’ Credit UnionAPYAPYNational average APYHow do we get this data?
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.

APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bank experience
State Employees’ Credit Union branches are open Monday through Friday, 8:30 a.m. to 5:30 p.m. There’s also a Member Services phone line that’s available 24/7. Other ways to get in touch with the credit union are by sending an email, sending a secure message online or accessing self-services on the mobile app.
The credit union’s mobile app is highly rated on both the Apple store and Google Play. With the app, members can transfer money, make payments toward loans, deposit checks, set up recurring bill payments and more.
The credit union has several community outreach programs, including financial education programs that provide free financial management workshops for children and adults.
About State Employees’ Credit Union
State Employees’ Credit Union was founded in 1937 with just 17 members and has since grown to become the second largest credit union in the United States with over 2.6 million members. It’s headquartered in Raleigh, North Carolina, and all of its branches are spread across the state. Membership is open to anyone who works in North Carolina or for an agency or department based in North Carolina.
Review methodology
We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.
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