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Attorney General Josh Stein Today Announces SECU Joins Carolina Relief Plan

For Immediate Release:
Monday, June 22, 2020

Contact:
Laura Brewer (919) 716-6484

(RALEIGH) Attorney General Josh Stein today announced that State Employees’ Credit Union (SECU) has joined the Carolina Relief Plan, an effort for financial institutions to support customers and members facing financial hardships related to COVID-19.

“North Carolinians need help,” said Attorney General Josh Stein. “The Carolina Relief Plan makes that possible – State Employees’ Credit Union is demonstrating its commitment to its members during these unprecedented times. I commend SECU for stepping up.”

“We have a long history of working with the Office of the Attorney General and Attorney General Stein to make North Carolinians and others aware of harmful scams and to advocate for consumer friendly products and services. We support this effort to help folks impacted by the COVID-19 pandemic to a better day. We are here to help our members and are working with them every day to support them through this traumatic time,” said Mike Lord, President and CEO of SECU.

Under the Carolina Relief Plan, SECU has committed to:

  • Allow eligible members to request a 60-day payment extension on mortgage loans. Members can apply for that extension through at least June 30, 2020.
  • Provide eligible members payment extensions on vehicle loans through at least June 30, 2020, upon the member’s request.
  • Provide eligible members payment extensions on consumer loans and credit card accounts through at least June 30, 2020, upon the member’s request.
  • Allow eligible members to request a waiver of late fees for payments on mortgage loans and credit card accounts through at least June 30, 2020.
  • Place a moratorium on mortgage loan foreclosures and vehicle repossessions through at least June 30, 2020.
  • Report SECU member loan balances and credit card accounts impacted by COVID-19 to credit bureaus as “current” if payment extensions due to COVID-19 were granted by SECU.
  • Inform members regarding assistance being offered to help with financial hardships caused by the COVID-19 pandemic in publications, website, social media, phone, and other means.
  • Continue to warn and educate members about the heightened risk of scams during the COVID-19 pandemic through publications, website, social media, and other means.
  • Increase higher daily ATM cash limits to assist members in reducing exposure to the COVID-19 virus and more conveniently meet financial needs.

More information is available here.

More on Attorney General Stein’s work to protect North Carolinians during the COVID-19 pandemic:

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