North Carolina SECU Invests $25 million in NCUF Charitable Lead Trust


State Employees’ Credit Union’s Board of Directors recently approved an investment not only to financially benefit its members, but also to benefit the National Credit Union Foundation (NCUF) and Carolinas Credit Union Foundation (CCUF). The not-for-profit cooperative is investing $25 million in a Charitable Lead Trust created by Members® Trust Company. The Trust will generate an approximate annual contribution of $125,000 each for NCUF and CCUF.

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Left to Right: Tom Walker-President & CEO of MEMBERS Trust Company, McKinley Wooten-SECU Board Chair, and Bucky Sebastian-Executive Director of NCUF.

Charitable Lead Trusts are commonly used by donors to make charitable contributions, allowing the opportunity for donors to customize charitable gifts and investment plans. Under the terms of the NCUF Charitable Trust, MEMBERS Trust Company, FSB will act as the trustee and asset manager. Since 1987, MEMBERS Trust Company, FSB has been cooperatively owned and managed by Credit Unions across the United States, including State Employees’ Credit Union (SECU) as an owner. The investment in the NCUF Charitable Lead Trust was a nice fit for SECU, as two senior officials with the Credit Union serve the partner organizations. Mark Twisdale, Executive Director of SECU Foundation and SECU’s SVP of Human Resources serves as a NCUF Board member, and Bill Umphlett, SVP of Financial Advisory Services, currently serves the MEMBERS Trust Company Board.

As the philanthropic and social responsibility leader of America’s credit union movement, NCUF raises funds, makes grants, manages programs including disaster relief, and provides financial education programs such as Biz Kid$, empowering consumers to achieve financial freedom through credit unions. The Carolinas Credit Union Foundation promotes large projects as part of credit unions’ social responsibility efforts. Past project funding has benefited the Duke Pediatric Bone Marrow Center, Victory Junction Gang Camp, a camp for chronically ill children in Randleman, NC, and more recently, Levine Children’s Hospital outdoor garden in Charlotte, NC.

McKinley Wooten, Chairman of State Employees’ Credit Union’s Board of Directors, remarks, “Our Credit Union’s $25 million investment provides members with an opportunity to address the financial needs of Foundations serving the credit union industry at the national and local level. As a past supporter of NCUF and CCUF, we are pleased to once again assist these Foundations in advancing the strategy of doing well by doing good.”



About SECU
A not-for-profit financial cooperative owned by its members, SECU has been providing employees of the State of North Carolina and their families with consumer financial services for 75 years. With 1.8 million members, SECU provides services through 246 branch offices, 1,100 ATMs, 24/7 Contact Centers and a website, www.ncsecu.org.