State Employees Credit Union of Maryland (also known as SECU of Maryland or SECU Maryland or SECU MD) is a state-chartered

credit union A credit union, a type of financial institution similar to a commercial bank, is a member-owned nonprofit organization, nonprofit financial cooperative. Credit unions generally provide services to members similar to retail banks, including depo ...

headquartered in Linthicum,

Maryland Maryland ( ) is a state in the Mid-Atlantic region of the United States. It shares borders with Virginia, West Virginia, and the District of Columbia to its south and west; Pennsylvania to its north; and Delaware and the Atlantic Ocean to ...

. It is the largest

non-profit A nonprofit organization (NPO) or non-profit organisation, also known as a non-business entity, not-for-profit organization, or nonprofit institution, is a legal entity organized and operated for a collective, public or social benefit, in co ...

and it is regulated; under the authority of ''The Office of the Commissioner of Financial Regulation'',

State of Maryland Maryland ( ) is a state in the Mid-Atlantic region of the United States. It shares borders with Virginia, West Virginia, and the District of Columbia to its south and west; Pennsylvania to its north; and Delaware and the Atlantic Ocean to it ...

History

SECU Maryland began its operation in the year 1951 with the then-Governor

Theodore McKeldin Theodore Roosevelt McKeldin (November 20, 1900August 10, 1974) was an American politician. He was a member of the Republican Party, served as mayor of Baltimore twice, from 1943 to 1947 and again from 1963 to 1967. McKeldin was the 53rd Govern ...

as its first member. In the spring of 1953, it opened its first office. And from 1959 to 1975, its operational head office moved within Baltimore multiple times. Finally, by 1979–80, SECU Maryland moved its headquarters in

Towson Towson () is an unincorporated community and a census-designated place in Baltimore County, Maryland, United States. The population was 55,197 as of the 2010 census. It is the county seat of Baltimore County and the second-most populous unincorp ...

. During the same period, it crossed the 50,000th membership enrollment mark. Currently, the new headquarters are located at Linthicum,

As of June 2020, SECU Maryland has over $4 billion in assets and over 260,000 members. Its ATM distribution network spread out at 55 branches and 54 remote locations across the state of Maryland. The member deposits are insured by

National Credit Union Administration The National Credit Union Administration (NCUA) is a government-backed insurer of credit unions in the United States, one of two agencies that provide deposit insurance to depositors in U.S. depository institutions, the other being the Federa ...

(NCUA) of the U.S. federal government.

Community support programs

In 2007, SECU Maryland created a foundation to support the educational goals of its members by providing scholarships. The scholarships are available to any SECU MD member who is pursuing higher education and meets the qualifications. Annual scholarships are generally awarded to 26 recipients enrolling for two or four years of college or university programs; including trade and technical schools. In 2020, to overcome the on-going

COVID-19 pandemic in Maryland The COVID-19 pandemic was confirmed to have reached the U.S. state of Maryland in March 2020. The first three cases of the virus were reported in Montgomery County on March 5, 2020. , the Maryland Department of Health (MDH) reported 1,303,829 p ...

, SECU Maryland Foundation created multiple grants and aid programs for local businesses and nonprofits as a part of COVID-19 community relief efforts.

Other programs

On June 19, 2013, SECU Maryland Foundation-sponsored

SECU Arena SECU Arena is a 5,200-seat multi-purpose arena on the Towson University campus in Towson, Maryland. The arena was completed and opened in 2013, and now hosts the men's and women's basketball teams, as well as the volleyball and gymnastics teams ...

, a 5,200-seat multi-purpose a

sports complex A sports complex is a group of sports facilities. For example, there are track and field stadiums, football stadiums, baseball stadiums, swimming pools, and Indoor arenas. This area is a sports complex, for fitness. Olympic Park is also a kind ...

; was inaugurated on the

Towson University Towson University (TU or Towson) is a public university in Towson, Maryland. Founded in 1866 as Maryland's first training school for teachers, Towson University is a part of the University System of Maryland. Since its founding, the university h ...

campus. It eventually replaced

Towson Center Towson Center is Towson University's 5,250-seat multi-purpose arena, in Towson, Maryland. The arena opened in 1976. It was home to the Towson Tigers Men's and Women's basketball teams, the Volleyball team, and the Gymnastics team from 1976 to ...

. It hosts the men's and women's basketball teams, as well as the respective volleyball and gymnastics teams.

References

{{Authority control Credit unions based in Maryland 1951 establishments in Maryland Banks based in Maryland