RALEIGH, N.C., Aug. 22, 2023 (GLOBE NEWSWIRE) -- SECU Foundation has marked a significant milestone, surpassing a quarter of a billion dollars in cumulative funding since its establishment in 2004. At the close of its fiscal year in June, SECU Foundation’s commitment to North Carolina non-profits tallied more than $258 million for grants and financing in support of education, housing, healthcare, and human services initiatives to benefit the people and communities all across the state.
From the very beginning, SECU Foundation’s success has been achieved with the full support of State Employees’ Credit Union (SECU) and its member-owners who fund the Foundation through the reallocation of their $1 monthly checking account maintenance fee. It’s a unique strategy known as the Power of a Dollar, and one that has enabled the Foundation to help address issues and improve the quality of life in each of North Carolina’s 100 counties.
Today, SECU Foundation has grown to become the largest foundation in the credit union industry. It receives approximately 150 letters of interest each year from non-profit and community organizations statewide requesting aid. The Foundation’s largest giving year to-date was fiscal year 2022-2023 with SECU Foundation Board-approved grants awarded to 56 non-profits totaling over $23 million. Some of the many projects included scholarship programs, affordable housing initiatives, homeless shelters, health and wellness programs, and advocacy and supportive services for children and adults.
“All of us at SECU Foundation are honored and privileged to carry out this work, and we are afforded this opportunity through the generosity of SECU members and our Foundation Board,” said SECU Foundation Executive Director Jama Campbell. “North Carolina has so many wonderful non-profits across the state with amazing people who take on a myriad of challenges for the betterment of their communities. We share their concerns and understand the importance of their work. The projects supported through SECU Foundation are producing tremendous benefits for all North Carolinians, and for that, we are so incredibly grateful.”
About SECU and SECU Foundation
A not-for-profit financial cooperative owned by its members, and federally insured by the National Credit Union Administration (NCUA), SECU has been providing employees of the state of North Carolina and their families with consumer financial services for 86 years. SECU is the second largest credit union in the United States with $50 billion in assets. It serves over 2.7 million members through 275 branch offices, over 1,100 ATMs, Member Services Support via phone, www.ncsecu.org, and a Mobile App. The SECU Foundation, a 501(c)(3) charitable organization funded by the contributions of SECU members, promotes local community development in North Carolina primarily through high-impact projects in the areas of housing, education, healthcare, and human services. Since 2004, SECU Foundation has made a collective financial commitment of over $258 million for initiatives to benefit North Carolinians statewide.
Contact: Jama Campbell, Executive Director
Office: 919-839-5562 | secufoundation@ncsecu.org
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c584ae0e-c111-4e7f-a153-d4d3ed5c10f7
