Overview
What is State Employees Credit Union Of Maryland Inc?
State Employees Credit Union of Maryland Inc, based in Linthicum, Maryland, is a thriving financial institution with a mission to contribute positively to the financial well-being of its members. With over 499 employees, they offer a range of deposit products and services, including savings, checking, money market accounts, certificates of deposit, and individual retirement accounts. As of December 31, 2022, they managed 571,320 deposit accounts, boasting some of the most competitive rates among federally insured financial institutions. The credit union's primary objective is to promote thrift and provide Marylanders with essential financial tools designed to meet their diverse needs.
Official website here: www.secumd.org
What do the Facebook reviews say about State Employees Credit Union Of Maryland Inc?
58% of 397 reviewers on Facebook recommend State Employees Credit Union Of Maryland Inc. Here is a summary of their reviews:
A notable number of members are frustrated with the changes to the payment systems, which have led to issues such as lost autopays and resulting negative impacts on credit reports. This has caused discontent among members, with some voicing serious concerns about communication and support during the transition. The experience shared by at least one long-term member highlights significant operational shortcomings.
Despite some positive experiences, the overall sentiment leans towards dissatisfaction, largely due to specific incidents rather than a broader evaluation of services. Many members express the hope that the organization will improve in areas of communication and customer service.
This AI summary has been generated from reviews found on Facebook.
Is State Employees Credit Union Of Maryland Inc legitimate?
State Employees Credit Union Of Maryland Inc is a legitimate nonprofit organization registered as a 501(c)(14) entity. State Employees Credit Union Of Maryland Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $9,625,450
Professional Fundraising Fees: $0
Other Salaries and Wages: $23,908,526
For more financial information, click here
Official website here: www.secumd.org
What is the mission statement of State Employees Credit Union Of Maryland Inc?
The State Employees Credit Union of Maryland Inc is dedicated to contributing positively to the financial well-being of its members. Its primary function is to encourage savings and serve as a source of credit. To achieve this, the credit union offers a range of deposit products and services designed to meet the financial needs of its members. These include savings, checking, money market accounts, certificates of deposit, and individual retirement accounts. As of December 31, 2022, the credit union had over half a million deposit accounts. The competitive deposit rates offered by the credit union set it apart among federally insured financial institutions.
Official website here: www.secumd.org
Who is the CEO of State Employees Credit Union Of Maryland Inc?
Steven Arbaugh is the Chair/Director of State Employees Credit Union Of Maryland Inc. The CEO's salary of State Employees Credit Union Of Maryland Inc is $1,016,898 and their total compensation is $1,420,315.
Official website here: www.secumd.org
What is the revenue of State Employees Credit Union Of Maryland Inc?
State Employees Credit Union Of Maryland Inc's revenue in 2022 was $216,273,782.
Official website here: www.secumd.org
Who are the executives of State Employees Credit Union Of Maryland Inc and what are their salaries?
The average compensation at State Employees Credit Union Of Maryland Inc during 2022 was $67,202. There are 499 employees at State Employees Credit Union Of Maryland Inc.
Here are 34 key members and their salaries (State Employees Credit Union Of Maryland Inc's CEO's salary is $1,016,898 and their total compensation is $1,420,315):
- Compensation: $42,483
- Related: $0
- Other: $0
- Compensation: $41,560
- Related: $0
- Other: $0
- Compensation: $32,162
- Related: $0
- Other: $0
- Compensation: $32,697
- Related: $0
- Other: $0
- Compensation: $26,409
- Related: $0
- Other: $0
- Compensation: $25,396
- Related: $0
- Other: $0
- Compensation: $26,862
- Related: $0
- Other: $0
- Compensation: $25,823
- Related: $0
- Other: $0
- Compensation: $7,845
- Related: $0
- Other: $0
- Compensation: $1,016,898
- Related: $0
- Other: $403,417
- Compensation: $498,831
- Related: $0
- Other: $65,399
- Compensation: $387,564
- Related: $0
- Other: $70,940
- Compensation: $494,224
- Related: $0
- Other: $41,035
- Compensation: $377,417
- Related: $0
- Other: $42,572
- Compensation: $520,107
- Related: $0
- Other: $53,681
- Compensation: $264,512
- Related: $0
- Other: $47,008
- Compensation: $237,268
- Related: $0
- Other: $29,691
- Compensation: $271,166
- Related: $0
- Other: $58,804
- Compensation: $502,586
- Related: $0
- Other: $44,822
- Compensation: $339,300
- Related: $0
- Other: $31,570
- Compensation: $268,260
- Related: $0
- Other: $52,548
- Compensation: $345,818
- Related: $0
- Other: $63,656
- Compensation: $291,383
- Related: $0
- Other: $56,438
- Compensation: $291,269
- Related: $0
- Other: $38,107
- Compensation: $370,105
- Related: $0
- Other: $55,224
- Compensation: $556,629
- Related: $0
- Other: $56,108
- Compensation: $410,942
- Related: $0
- Other: $61,513
- Compensation: $315,326
- Related: $0
- Other: $64,142
- Compensation: $214,859
- Related: $0
- Other: $53,078
- Compensation: $566,631
- Related: $0
- Other: $22,375
- Compensation: $436,850
- Related: $0
- Other: $39,625
- Compensation: $237,984
- Related: $0
- Other: $47,203
- Compensation: $277,427
- Related: $0
- Other: $48,988
- Compensation: $249,271
- Related: $0
- Other: $15,005
Official website here: www.secumd.org
Where can I find the form 990 for State Employees Credit Union Of Maryland Inc?
State Employees Credit Union Of Maryland Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.secumd.org
Learn more at the official website: www.secumd.org
Mission Statement of State Employees Credit Union Of Maryland Inc
State Employees Credit Union of Maryland, or SECU, is a financial institution dedicated to enhancing the financial well-being of its members. Established with the purpose of promoting thrift and serving as a credit source, SECU offers a range of deposit products and services designed to cater to the diverse financial needs of its members.
SECU's product catalog encompasses savings, checking, money market accounts, certificates of deposit, and individual retirement accounts. These offerings reflect the organization's commitment to providing Marylanders with competitive deposit rates that are among the best in the federally insured financial institution sector. By the end of 2022, SECU had 571,320 deposit accounts in its portfolio, demonstrating the widespread appeal of its financial solutions.
In addition to offering competitive deposit rates, SECU emphasizes delivering state-of-the-art technology to its members. This modern approach to banking ensures that members have convenient and efficient access to their financial information and tools to manage their accounts effectively. By combining competitive rates, innovative technology, and a wide selection of deposit products, SECU positions itself as a trusted partner in helping Marylanders achieve their financial goals.
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Impact
October, 2024
State Employees Credit Union of Maryland Inc (SECU) plays a significant role in enhancing the financial well-being of its members by providing a range of deposit products and services. With a commitment to promoting thrift and creating accessible credit options, SECU serves over 571,000 deposit accounts, offering competitive rates that are among the best available from federally insured financial institutions.
By providing essential financial tools such as savings accounts, checking accounts, money market accounts, certificates of deposit, and individual retirement accounts, SECU empowers Marylanders to manage their finances effectively. This extensive suite of offerings is designed to meet diverse financial needs, ensuring that individuals can save efficiently and plan for their future.
In addition to its robust financial products, SECU leverages state-of-the-art technology to enhance the banking experience for its members. This technological integration ensures convenience and accessibility, allowing members to navigate their financial journeys with ease. Ultimately, SECU's focus on financial literacy and responsible banking fosters a stronger economy and promotes greater financial security within the communities it serves.
This information is meant to be a general summary of State Employees Credit Union Of Maryland Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $20,743,728
- Program Service Revenue: $194,845,185
- Gross Receipts: $321,635,353
Assets and Liabilities:
- Total Assets: $5,313,600,650
- Total Liabilities: $4,945,476,020
- Net Assets: $368,124,630
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST ON LOANS
Revenue
$144,970,198
SERVICE CHARGES INCOME
Revenue
$34,131,667
OTHER FEE INCOME
Revenue
$15,457,164
EQUITY IN EARNINGS OF
Revenue
$286,156
Organization Details
Founding Year
1951
Phone
(410) 487-7328Principal Officer
Steven Arbaugh
Main Address
971 CORPORATE BOULEVARD, LINTHICUM, MD, 210902337
Website
www.secumd.orgNTEE Category
Code: W60 - Public benefit
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