SECU Honored for Mortgage Assistance Program
State Employees' Credit Union (SECU) recently received a national honor for its Mortgage Assistance Program, designed to help members stay in their homes and avoid foreclosure.
Sponsored by the Credit Union National Association (CUNA), the first-place Louise A. Herring Award for Philosophy in Action was presented to SECU Board Chairman Jim Barber at the Governmental Affairs Conference held in Washington, D.C.
The Louise A. Herring Award recognizes credit unions that do an extraordinary job incorporating credit union philosophy into daily operations, a news release said.
Prior to winning the national award, SECU competed in North Carolina Credit Union League's statewide competition and received a first-place finish. Credit unions compete at both state and national levels based on asset size. SECU won the Louise A. Herring Award in the category of credit unions with assets of more than $250 million.
"The Mortgage Assistance Program was developed as both a reactive and proactive measure, helping members at the first sign of delinquency, as well as those facing job loss due to upcoming workforce reductions," Barber said. "Through a variety of payment options and personalized financial plans within the program, the credit union has already helped 7,000 North Carolina families, and we are continuing to refine MAP to assist even more.
"While very rewarding for SECU to help fellow members who may be struggling in this economy, it is also a great feeling to be recognized by CUNA for these efforts."
SECU is a nonprofit 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 more than 70 years and serves more than 1.6 million members.
More like this story