RALEIGH, N.C., Aug. 02, 2024 (GLOBE NEWSWIRE) — SECU Foundation is celebrating a significant milestone – marking its 20-year anniversary of impactful funding in support of its mission to help identify and address large scale community issues and to promote local and community development in North Carolina. To date, the largest charitable organization in the credit union industry has committed over $300 million in scholarships, grants, and loans to benefit North Carolinians in all 100 counties of the state.
One of the most remarkable aspects of SECU Foundation’s work is the overwhelming support it receives from the members of State Employees’ Credit Union (SECU) who fund the Foundation. Over 99% of SECU members with active checking accounts contribute through the reallocation of their $1 monthly maintenance fee. The unique funding concept is known as the Power of a Dollar.
“When SECU Foundation was established in 2004, we never realized the far-reaching, positive impact that SECU could have on North Carolina communities through the Foundation,” said SECU President and CEO Leigh Brady. “I’ve been amazed to watch the Foundation’s growth and development of grantmaking programs that have been transforming the work of non-profits and the people that they serve.”
“It’s an exciting yet humbling time for us as we celebrate the incredible impact our work has made and the lives we have touched along the way,” said SECU Foundation Executive Director Jama Campbell. “The Foundation’s success, growth, and longevity are a true reflection of SECU members’ generosity and commitment to our mission and hopefully creating a ripple effect of positive and lasting change in our communities and state. I’m thrilled with what has been accomplished thus far, and I am eager to see what the future holds.”
SECU Foundation has used its collective contributions to address and raise the visibility of community issues in its core funding areas of education, housing, healthcare, and human services. Notable highlights include:
- Awarded more than 16,000 scholarships to students attending North Carolina public universities and community colleges though its commitment to higher education.
- Funded over 200 unique non-profit initiatives for affordable housing, homeless shelters, healthcare for the underserved, food insecurity, child advocacy and youth services, and disaster relief to help address critical needs of communities and enhance the quality of life for residents.
- Implemented the Mission Development Grant program in 2017, providing over $3.5 million in funding to help 89 non-profits build organizational capacity, future growth, and sustainability.
- Teamed up with SECU to provide $16 million in disaster relief efforts and operational support to North Carolina non-profits during COVID-19.
- Created Disaster Response Pilot in 2023, providing $110,000 in funding to help address capacity building for North Carolina non-profits located in disaster areas as declared by federal or state governments.
“As we celebrate the Foundation’s 20th anniversary, I can’t help but reflect on the meaningful collaborations that have brought together non-profits, educators, and local organizations to improve the lives of North Carolinians and foster community and economic development throughout the state,” said SECU Foundation Board Chair Chris Ayers. “I look forward to what we can accomplish in the next 20 years as we broaden our efforts to make an even greater impact across our great state.”
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 87 years. SECU is the second largest credit union in the United States with $56 billion in assets. It serves more than 2.8 million members through 275 branch offices, over 1,100 ATMs, Member Services Support via phone, www.ncsecu.org, and the SECU 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 $300 million for initiatives to benefit North Carolinians statewide.
Contact: Jama Campbell, Executive Director, [email protected]
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/edfd1dcf-bf7c-4889-910b-38d43e6225c0