Dear Graduate Assistants,
All UMBC GAs are eligible for membership at SECU (State Employees Credit Union), and there is a SECU ATM on-campus at UMBC (University Center building).
What are Credit Unions:
Credit unions are nonprofit institutions that are owned by their members, so they tend to offer lower fees and better rates. (For instance, one current member of GAAC chose SECU for a HELOC, or home equity line of credit, this year.) Once you gain membership, you can remain a member even after your GAship ends, so this is one benefit it may make sense to take advantage of now so that you have it for future use.
- SECU requires you to open a $10 savings account along with any new account to establish your membership, which will automatically be set up during the account opening process.
- Once you join SECU, you are a member for life, as long as you maintain at least a $10 balance in your savings account.
- It takes about a week for SECU to approve your membership application.
- SECU is currently offering a promotion (through the end of May 2023) in which new members can get $100 for opening a Total Checking & Rewards account and using your debit card to pay for purchases 12 times in the first 60 days.
- This account has no monthly fee and comes with online banking and one free order of checks per year. The debit card and checks will be automatically ordered for you once you have opened the account.
If there is anything specific you want GAAC to discuss / explain in our Wednesday Wisdom series, please reach out to us at gaac@umbc.edu.
