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State Employees' Credit Union and Local Government Federal Credit Union Offer Good News to Members Needing Student Loans!
RALEIGH, N.C.-(Business Wire)-July 2, 2008 - State Employees' Credit Union (SECU) and Local Government Federal Credit Union (LGFCU) have good news for members looking to fund higher education expenses. Recently joining forces with College Foundation, Inc (CFI) and North Carolina State Education Assistance Authority (NCSEAA), SECU announced a $1.1 billion investment of member funds to help finance education loans for North Carolina families and colleges. One of the special benefits of this funding relationship to SECU and LGFCU members who have applied for federal and state aid, is their membership entitles them to a reduction in the interest rate on North Carolina's EXTRA Loan, a supplemental loan available to help pay education expenses.
Shirley Bell, SECU Board of Directors Chairman, comments, "One of State Employees' Credit Union's primary goals is to keep money in our members' pockets. Providing an opportunity for a more favorable rate on North Carolina's EXTRA Loan will certainly achieve this goal. As the cost of higher learning increases, SECU is working to assist members, helping them realize the economic value of an education."
Maurice Smith, President/CEO of Local Government Federal Credit Union, adds, "Every college student faces the question of financial support. For students who lack scholarship resources, the issue of funding is often answered by borrowing. This program helps members meet a fundamental need that might otherwise go unmet. What SECU has done in regards to its investment is magnificent. We are pleased to partner with SECU in such a groundbreaking effort."
About SECU
SECU is a non-profit financial cooperative owned by its members. SECU has been providing the employees of the State of North Carolina and their families with consumer financial services for over 70 years. Currently serving more than 1.4 million members, SECU provides services through 218 branch offices, 980 ATMs, two call centers and a website—www.ncsecu.org.
About Local Government Federal Credit Union
Local Government Federal Credit Union serves North Carolina's local government employees, elected/appointed officials, volunteers and their families. The $830 million federally chartered credit union is a cooperative of more than 165,000 members associated with various facets of local government in North Carolina's 100 counties and 546 cities, towns and villages. www.lgfcu.org
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