North Carolina's State Employees CU Partners with MEMBERS Trust
RALEIGH, N.C. - State Employees Credit Union, the second largest in the nation, has aligned with MEMBERS Trust Co. to bring trust services to its members. The $12 billion credit union has made an initial investment of $l million with MEMBERS Trust, the national trust cooperative launched in November 2003 by $4.3 billion, Tampa, Fla.-based Suncoast Schools FCU and CUNA Mutual Insurance Society. SECU President/CEO Jim Blaine said the alliance will provide "trust services for the working man and woman" as "the lack of professional trust services for households with modest incomes and assets has been a continuing dilemma for the financial industry." The credit union will roll out trust services and products over the next 12 months. MEMBERS Trust, which currently manages nearly 30 CU clients, has more than 23 owners and more than $74 million in assets under management, plans to open seven agency offices and establish 50 representative offices this year. "The endorsement and investments by SECU will give MEMBERS Trust Company more resources to continue its pursuit of making trust services available to every family regardless of income or household assets," said Tom Walker, president/CEO of MEMBERS Trust.