State Employees Credit Union: How It Ranks

While State Employees Credit Union is one of the largest credit unions in the country, with more than 2.5 million members as of this writing, it did not make our list of the 100 best credit unions. The principal reason for this is the credit union’s net worth ratio of 8.4%. While this is classified as well capitalized according to the NCUA guidelines, it is still well below many of the credit union’s peers. On most other metrics, including its membership trends and dividend rate, State Employees Credit Union fared quite well.

Overview of the Credit Union

State Employees Credit Union was established in 1937 and is the largest credit union operating in the state of North Carolina as measured by total assets. It is also one of the largest credit unions in the country. State Employees Credit Union currently has 273 branches and 7,433 employees.

Who Can Join State Employees Credit Union?

Membership is limited to persons who meet one of the following eligibility requirements:

  1. Employees of the state of North Carolina
  2. Federal employees assigned to North Carolina state agencies – for example, a federal US Department of Agriculture employee assigned to work at the North Carolina Department of Agriculture
  3. Employees of North Carolina public boards of education
  4. Members of the North Carolina National Guard
  5. Employees of Social Services, Health, Mental Health and Civil Defense of North Carolina counties
  6. Employees of associations formed for the benefit of state of North Carolina employees e.g., State Employees’ Association of North Carolina
  7. Employees of agencies or departments whose employees are subject to the North Carolina State Personnel Act
  8. Individuals retired from the above employment or service as pensioners and/or annuitants from the above employment or service. This includes former employees who are “vested” and have not withdrawn or terminated future eligibility to be a pensioner and/or annuitant.
  9. Un-remarried spouses of persons who died while in the field of membership
  10. Immediate family (spouse, parents, siblings and children) of a current member
  11. Individuals sharing a single economic unit with a current member

Contact Information

  • Main Office Address: 119 N Salisbury St, Raleigh, NC 27603
  • Website:
  • Phone: (919) 839-5000
  • Charter Number: 66310
  • Charter Year: 1937
  • Employees: 7,179
  • State Employees Credit Union Routing Number: 253177049
  • Membership Trends: On average, credit unions in North Carolina each have 76,084 members while across the United States the equivalent figure is 26,711. By comparison, State Employees Credit Union has total members of 2,660,288 which is significantly larger than the average credit union in the state. Over the past three years, the credit union’s total base of members has increased by 12%.

Financial Metrics (as of March 2022):

  • Total Assets: $53,144 million
  • Total Loans: $26,064 million
  • Total Net Worth: $4,467 million
  • Total Net Worth Per Member: $1,679
  • Net Worth Ratio: 8.4%. Based on the NCUA guidelines, this credit union is well capitalized.

Other Credit Unions in North Carolina

There are currently 63 credit unions operating in the state of North Carolina and combined these credit unions have 4.8 million members. In addition to this credit union, you may also be eligible to join the following credit unions in the state: Healthshare Credit Union, Self-Help Credit Union and Piedmont Credit Union.