State Employees Credit Union of Maryland

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 non-profit credit union[4][5] and it is regulated; under the authority of The Office of the Commissioner of Financial Regulation, State of Maryland.[6][7]

For other uses, see SECU (disambiguation).
State Employees Credit Union of Maryland
SECU Maryland
SECU MD
TypeCredit union
IndustryBanking and Financial services
FoundedOctober 1, 1951 (1951-10-01)
HeadquartersLinthicum, Maryland, U.S.
Number of locations
55 branches, 109 ATMs (2020)
Area served
Maryland
Key people
  • Dave Sweiderk
    (President & CEO)
  • Mark Reger
    (Chairman of the Board)
Productssavings accounts; checking accounts; consumer loans; business loans; mortgages; credit cards; investments; and online banking;
RevenueIncrease US$193 million (2019)[1]
Total assetsIncrease US$4 billion (May 2020)[2]
Ownersmembers
Number of employees
586
SubsidiariesSECU Maryland Foundation
Websitesecumd.org/

History

SECU Maryland began its operation in the year 1951 with the then-Governor Theodore McKeldin as its first member.[8] In the spring of 1953, it opened its first office. And from 1959 to 1975, its operational head office moved within Baltimore multiple times. Finally, by 1979–80, SECU Maryland moved its headquarters in Towson. During the same period, it crossed the 50,000th membership enrollment mark. Currently, the new headquarters are located at Linthicum, Maryland[3]

As of June 2020, SECU Maryland has over $4 billion in assets and over 260,000 members.[9][10] Its ATM distribution network spread out at 55 branches and 54 remote locations across the state of Maryland. The member deposits are insured by National Credit Union Administration (NCUA) of the U.S. federal government.[11]

Community support programs

In 2007, SECU Maryland created a foundation to support the educational goals of its members by providing scholarships.[12] The scholarships are available to any SECU MD member who is pursuing higher education and meets the qualifications. Annual scholarships are generally awarded to 26 recipients enrolling for two or four years of college or university programs; including trade and technical schools.[13][14]

In 2020, to overcome the on-going COVID-19 pandemic in Maryland, SECU Maryland Foundation created multiple grants and aid programs for local businesses and nonprofits as a part of  COVID-19 community relief efforts.[15][16][17][18]

Other programs

On June 19, 2013, SECU Maryland Foundation-sponsored SECU Arena, a 5,200-seat multi-purpose a sports complex; was inaugurated on the Towson University campus.[19] It eventually replaced Towson Center. It hosts the men's and women's basketball teams, as well as the respective volleyball and gymnastics teams.

References
  1. State Employees Credit Union of Maryland (SECU) – CAUSE IQ ORGANIZATION PROFILE
  2. 'SECU of Md. surpasses $4B in assets'
  3. "SECU Corporate Office in Linthicum Heights, MD 21090 - - ChamberofCommerce.com". www.chamberofcommerce.com. Retrieved 2020-10-15.
  4. "Maryland Credit Union Directory (October 2020)". www.creditunionsonline.com. Retrieved 2020-10-15.
  5. ProPublica, Mike Tigas, Sisi Wei, Ken Schwencke, Brandon Roberts, Alec Glassford. "State Employees Credit Union Of Maryland Inc – Nonprofit Explorer". ProPublica. Retrieved 2020-10-15.{{cite web}}: CS1 maint: multiple names: authors list (link)
  6. "State-Chartered Credit Unions – Office of the Commissioner of Financial Regulation". www.dllr.state.md.us. Retrieved 2020-10-15.
  7. "State-Chartered Credit Unions – Consumers – Office of the Commissioner of Financial Regulation". www.dllr.state.md.us. Retrieved 2020-10-15.
  8. "State Employees Credit Union of Maryland, Incorporated". www.buzzfile.com. Retrieved 2020-10-15.
  9. "SECU of Maryland Surpasses $4 Billion in Assets". Citybizlist. Retrieved 2020-10-15.
  10. "SECU of Maryland passes the $4 billion-asset mark". American Banker. 2020-05-19. Retrieved 2020-10-15.
  11. "SECU MD Routing Number, Charter Number, Assets, and more". www.creditunionsonline.com. Retrieved 2020-10-15.
  12. "Scholarships | SECU MD Foundation". www.secumd.org. Retrieved 2020-10-15.
  13. "Two local students receive SECU MD Foundation scholarships". Herald-Mail Media. Retrieved 2020-10-15.
  14. "SECU MD awards $105K in scholarships for college students". WDVM 25. 2020-07-23. Retrieved 2020-10-15.
  15. Oyefusi, Daniel. "These Baltimore businesses are collectively giving millions to coronavirus relief efforts". baltimoresun.com. Retrieved 2020-10-15.
  16. Wilen, Holden (2020-04-06). "How SECU of Maryland prepared for the COVID-19 pandemic". www.bizjournals.com. Retrieved 2020-10-15.
  17. Producer, Morning Show (2020-03-30). "Credit Union Helping to Ease Financial Burden During Pandemic". WBFF. Retrieved 2020-10-15.
  18. Staff, Daily Record (2020-04-03). "SECU commits up to $400K in COVID-19 relief efforts". Maryland Daily Record. Retrieved 2020-10-15.
  19. "SECU Arena". Towson University. Retrieved 2020-10-15.
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