Celebrating SECU Foundation’s Impact in North Carolina

Summary

The SECU Foundation, established by the State Employees Credit Union, has made a significant impact in North Carolina since 2004. Through the power of a $1 monthly fee from its members, the Foundation has contributed over a quarter of a billion dollars to scholarships, healthcare, housing, and human services. Its focus on sustainable, community-centered projects has helped students, families, and nonprofits across the state. With initiatives like mission development grants, the Foundation continues to evolve, offering lasting support to diverse communities and making a meaningful difference in people’s lives.

Takeaways

• 😀 SECU (State Employees' Credit Union) formed its foundation to help communities across North Carolina, responding to numerous requests from members and local areas.
• 😀 The SECU Foundation initially used the $1 monthly maintenance fee from members to fund its initiatives, showing the power of small contributions for significant impact.
• 😀 The scholarship program, SECU's first major initiative, supports students attending both 4-year universities and community colleges, as well as those pursuing vocational credentials.
• 😀 SECU Foundation has made a considerable impact statewide, with scholarships, buildings, and programs directly benefiting communities, families, and young people across North Carolina.
• 😀 The foundation's goal has always been to maintain a presence in communities, supporting local members, as well as the areas where they live, work, and worship.
• 😀 SECU Foundation focuses on sustainable, replicable projects, ensuring that funds are well-managed and that their initiatives can be scaled and applied in other areas.
• 😀 The SECU Family House project, a key milestone, was initially met with uncertainty, but has proven to be a vital resource for families in need, offering housing and support during difficult times.
• 😀 The foundation has evolved its focus over the years, now offering 'mission development grants' to help smaller organizations grow, crystallize their vision, and build sustainable programs.
• 😀 Mission development grants aim to help organizations in North Carolina develop their potential, raise funds, and create long-lasting positive impacts in local communities.
• 😀 The SECU Foundation's growth is directly tied to the success of SECU itself, which continues to expand and provide crucial financial resources to members, thereby enabling the foundation to make an even bigger impact.
• 😀 As of 2024, SECU Foundation has committed over a quarter of a billion dollars to scholarships and non-profit initiatives, touching lives across North Carolina, from healthcare and education to housing and human services.

Q & A

What inspired the creation of the SECU Foundation?

The SECU Foundation was created in response to numerous requests for assistance across North Carolina. The cooperative model of SECU made it challenging to organize efforts, so the foundation was established to better serve the community.

How does the SECU Foundation fund its initiatives?

The foundation is primarily funded through a $1 monthly maintenance fee paid by SECU members, utilizing the power of this small fee to support a variety of projects and initiatives.

What was the SECU Foundation's first major initiative?

The foundation's first major initiative was the scholarship program, which was designed to support students attending both four-year universities and community colleges across North Carolina.

How has the scholarship program evolved over time?

Initially focused on four-year university students, the scholarship program has expanded to support students attending community colleges or pursuing credentials for direct entry into the workforce.

What makes the SECU Foundation's approach to funding sustainable?

The foundation focuses on ensuring that funded projects are sustainable and replicable in other parts of the state, with a strong emphasis on long-term impact and stewardship of resources.

Can you describe some of the key projects funded by the SECU Foundation?

Key projects include the SECU Family House in Chapel Hill, teacher housing in rural areas like Herford County, and scholarships for students in various educational programs.

What is the purpose of the mission development grants?

Mission development grants help nonprofit organizations that may not meet the foundation's core focus areas but need support to crystallize their vision, build their capacity, and raise sustainable funds.

How does the SECU Foundation involve local communities in its projects?

The foundation encourages active involvement from local branches and communities, with branch staff often attending groundbreaking ceremonies, ribbon cuttings, and celebrations to show their support for funded projects.

What are the core areas that the SECU Foundation focuses on?

The foundation focuses on four key areas: healthcare, housing, education, and human services, all of which address essential needs within North Carolina communities.

How much funding has the SECU Foundation committed to North Carolina since its inception?

Since its creation in 2004, the SECU Foundation has committed over a quarter of a billion dollars to scholarships, nonprofits, and other impactful community projects across North Carolina.