RALEIGH, N.C.–The SECU Foundation, the philanthropic arm of State Employees Credit Union, is reporting it has hit a milestone: 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,” the SECU Foundation said.
From the very beginning, the SECU Foundation said, its 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.
Power of a Dollar
“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,” the foundation said. 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 said that its largest giving year to-date was fiscal year 2022-2023 when it awarded grants 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, the foundation said.
‘Myriad of Challenges’
“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.”
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