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When Laid Off, Turn to SECU

State Employees' Credit Union understands the importance of helping members improve their financial lives – it is our mission and goes hand in hand with the "People Helping People" philosophy of the Credit Union. In today's economy, helping members has become even more important, as there are some members who are experiencing significant financial difficulties due to loss of income. We are here to help during this challenging phase.

Here are some of the products and services we offer that may benefit you during this time.
  • Budgeting – How can I adjust my budget to live on a reduced income and help to avoid overdrafts?
    Our Spending Plan Guideline offers a breakdown of general monthly expenses and the best way to allocate funds to meet your needs. It also includes tips where SECU can help you save in each of these areas. For a more detailed look at your expenses, complete the Financial Assessment available through Member Access or visit your local SECU branch.
  • Mortgage Assistance – I can’t afford my house payment. What should I do?
    If you find you are having difficulty making your SECU mortgage payment, we may be able to temporarily adjust your loan. Visit the Mortgage Assistance Program page for more details.
  • Auto Refinancing – The rate on my car loan is high. Can I refinance?
    Visit our refinancing calculator pages to see if you can save money on your monthly vehicle and mortgage payments.
  • Health, Life, Auto and Home Insurance – Should I purchase COBRA health insurance? Do I need replacement life insurance?
    It is typical to have questions about your Insurance if you've recently experienced job loss. Decisions such as whether or not to purchase COBRA health insurance or replacement life insurance depend on your individual life circumstances. To help plan for these insurance related concerns, review your options or get these questions answered by a trusted source by visiting your local branch.
  • Retirement Planning – What should I do with my 401(k), 457 or 403(b)?
    A Financial Services Officer at the Credit Union can help you determine the best way to keep funds in a tax-advantaged account. Advice is also available in the event that retirement funds are needed to cover essential expenses. Options differ based on your personal financial situation. See a Financial Services Officer for a better understanding of when, or if, you should use existing retirement funds (401k, 457,403b) to help pay bills.
  • Unemployment Insurance – How do I apply?
    If you have lost your job or are encountering other financial hardships, the NC Employment Security Commission has additional information on unemployment insurance services. General information on Employment Security Commission can be found on the ESC Brochure.
  • Taxes – How will unemployment income affect my tax situation?
    One often forgotten part of unemployment income is how you will be affected during tax season. You will want to avoid owing a large amount in taxes. To help plan for these tax related concerns, review additional information or contact your local SECU branch.
  • Credit – How can I monitor my credit rating?
    Knowing what's on your credit report makes financial decisions easier and can save you money in lower interest rates. Visit the Credit Reports Page for information on receiving a free credit report from each of the three major credit bureaus.
  • Debt Counseling – I don’t earn enough to pay all my bills. What should I do?
    Through a partnership with SECU, BALANCE provides financial counseling and employee assistance programs (EAP) to numerous companies and credit unions nationwide. This financial counseling service is available to you free of charge.
  • Support Services – What government or private resources are available? Where can I find a Food Bank?
    For more available resources and information on unemployment, community support services and making ends meet visit the Additional Resources page.
Remember, SECU will investigate all opportunities which might help members improve their financial well being. Please visit your local branch for additional When Laid Off, Turn to SECU resources and tips.

*Quoted rates, dividends, annual percentage yields (APY) and rates (APR) are subject to change daily at the discretion of the Board of Directors.