58 Community Colleges Benefit from SECU Foundation

RALEIGH, N.C., – North Carolina’s State Employees’ Credit Union (SECU) Foundation has proved how far a dollar can go with the creation of a new scholarship program to help students in each of the 58 community colleges in the North Carolina Community College System. “It is exciting to know that SECU’s members, collectively, can have such a statewide impact. Together we are helping North Carolina citizens better prepare for a livelihood and assuring a group of students the affordability of an education,” said SECU Board Chairman Dr. Jim Merrill. As part of the deal there are 116 two-year scholarships valued at up to $5,000 each and North Carolina community college will receive two scholarships, representing a financial commitment to the entire community college system of up to $580,000. Funding for the Foundation scholarships has come from a temporary reassignment of the $1 per month maintenance fee that all members pay on the SECU checking account. The $1 per month is a contribution by the individual member who may be entitled to a tax deduction for the contribution. SECU also gives members the choice to opt-out of the Foundation donation at any time. “This is a tremendous philanthropic gesture,” said H. Martin Lancaster, president of the North Carolina Community College System. “We are excited that State Employees’ Credit Union is committed to helping community college students succeed.”