A select employees credit union (SECU) is a financial cooperative that is owned and operated by its members, who must be employees of a specific employer or meet other eligibility criteria. SECUs offer a variety of financial services, including savings accounts, checking accounts, loans, and credit cards. They are often seen as a good option for people who want to save money on banking fees and get personalized service.
SECU are important because they can provide affordable financial services to people who may not have access to traditional banking. They can also help to promote financial literacy and encourage people to save money. Additionally, SECUs can play a role in economic development by providing loans to small businesses and other initiatives.
