Business FAQs

At present, SECU business accounts should be opened at your local branch or through a business banker.

Yes, we offer a variety of loans including Business Lines of Credit, Commercial Mortgages, and Term Loans. To learn more, stop by a branch, call 410-487-7316, or email a business banker. If you would like to be contacted by a business banker, please complete our short request form and we will get back to you within 24 hours.

Our minimum opening deposits are $10 for Business Share Savings and $100 for Checking accounts.

Required documentation depends on the business you operate:

  • For an LLC, you will need your EIN number and certified copy of articles of organization. If your business uses a trade name, the registration is needed.
  • For a corporation, you will need your EIN number and certified copy of articles of organization. If your business uses a trade name, the registration is needed.
  • For a partnership, you will need your EIN number and certified copy of articles of organization. As well if your business uses a trade name, the registration is needed.

Yes, Mobile Deposit is available for business accounts. We also offer a business specific Remote Deposit Capture service with more of the features your business requires.

Once the change has been recorded with the State, bring that documentation to your local branch.

All current signers need to visit the local branch, along with supporting documentation, to make the changes.

SECU does not, however, our payroll service provider Paychex does. To learn more, email a business banker.

Business accounts cannot have beneficiaries.

  • Register your business credit card at ezcardinfo.com.
  • Click Account Services.
  • Click Associated Card Accounts under Account Management.
  • Follow prompts under Add a new account.
  • If you don’t have a username and password, you’ll need the account number, expiration date, name on the card on file, last 4 of business owner SSN.
  • From the associated card accounts page, you can view the outstanding balance, pay now and click between all card accounts to view transactions.

Cash back earned from all cards on the account are rolled up to the one card which was designated the Head of Household when the account was opened.

The head of household must log into ezcardinfo.com. Click Redeem Cash Back. You can redeem for a statement credit to the head of households card or direct deposit into SECU savings or checking account.

The Financial Crimes Enforcement Network (FinCEN) issued the Ultimate Beneficial Ownership Rule to amend existing regulations in order to clarify and strengthen member due diligence requirements for financial institutions. The Rule outlines explicit member due diligence requirements and imposes a new requirement for financial institutions to identify and verify the identity of Ultimate Beneficial Owners of legal entity members.

Yes.

Any corporation, limited liability company, partnership, or other legal entity created by the filing of a public document with a Secretary of State or similar office.

The rule does not apply to sole proprietorships, unincorporated associations, or natural persons opening accounts on their own behalf.

The rule defines Ultimate Beneficial Owners as follows:


  • each individual, if any, who, directly or indirectly, owns 25% or more of the equity interests of a legal entity; and
  • a single individual with significant responsibility to control, manage, or direct a legal entity, including an executive officer or senior manager (e.g., a Chief Executive Officer, Chief Financial Officer, Chief Operating Officer, Managing Member, General Partner, President, Vice President, treasurer, or Controller); or any other individual who regularly performs similar functions.

Yes. Financial institutions must collect the name, date of birth, address, social security number (or passport number or other similar information in the case of foreign persons), ownership percentage, and a government-issued photo ID for all Ultimate Beneficial Owners.

The rule does not apply to sole proprietorships, unincorporated associations, or natural persons opening accounts on their own behalf.

An Ultimate Beneficial Ownership (UBO) Certification Form will be used to obtain the required information. The UBO Certification Form must be signed by a person acting on behalf of the legal entity certifying that the information provided is complete and accurate to the best of his or her knowledge.

In addition to collecting the UBO Certification Form, we will need to collect a legible copy of a government-issued photo ID for each Ultimate Beneficial Owner.

This information must be collected when opening a deposit account, loan, or certificate of deposit, each time a loan is renewed, and prior to the first time an existing certificate of deposit (opened before 05-11-2018) is renewed.

Generally, the rule does not apply to existing accounts that were opened before May 11, 2018 with the exception of renewals of loans and the first renewal of a certificate of deposit. We may also ask about Ultimate Beneficial Owners if there is activity on the account that may indicate there could have been a change in ownership.

Simply write in “not applicable” in that section of the UBO Certification Form. Please note, however, that we will still need to collect the information for a single individual with significant responsibility to control, manage, or direct a legal entity, including an executive officer or senior manager (e.g., a Chief Executive Officer, Chief Financial Officer, Chief Operating Officer, Managing Member, General Partner, President, Vice President, Treasurer, or Controller); or any other individual who regularly performs similar functions.

ABC, LLC. is owned 50% by Suzie Smith and 50% by XYZ, Inc. XYZ, Inc. is owned 50% by John Davis and 50% by Henry Brown. Both John and Henry indirectly own 25% of ABC, LLC. Suzie Smith (50% direct owner), John Davis (25% Indirect Owner) and Henry Brown (25% Indirect Owner) are all considered Ultimate Beneficial Owners of ABC, LLC, for the purposes of this new member due diligence rule and we will need to collect their names, DOBs, SSNs, street addresses, ownership percentage, and government-issued photo identification.

For more information, please visit your nearest SECU Financial Center.

Business Banking FAQs

At present, SECU business accounts should be opened at your local branch or through a business banker.

Our minimum opening deposits are $10 for Business Share Savings and $100 for Checking accounts.

Required documentation depends on the business you operate:

  • For an LLC, you will need your EIN number and certified copy of articles of organization. If your business uses a trade name, the registration is needed.
  • For a corporation, you will need your EIN number and certified copy of articles of organization. If your business uses a trade name, the registration is needed.
  • For a partnership, you will need your EIN number and certified copy of articles of organization. As well if your business uses a trade name, the registration is needed.

Yes, Mobile Deposit is available for business accounts. We also offer a business specific Remote Deposit Capture service with more of the features your business requires.

Once the change has been recorded with the State, bring that documentation to your local branch.

All current signers need to visit the local branch, along with supporting documentation, to make the changes.

SECU does not, however, our payroll service provider Paychex does. To learn more, email a business banker.

Business accounts cannot have beneficiaries.

Business Lending FAQs

Yes, we offer a variety of loans including Business Lines of Credit, Commercial Mortgages, and Term Loans. To learn more, stop by a branch, call 410-487-7316, or email a business banker. If you would like to be contacted by a business banker, please complete our short request form and we will get back to you within 24 hours.

  • Register your business credit card at ezcardinfo.com.
  • Click Account Services.
  • Click Associated Card Accounts under Account Management.
  • Follow prompts under Add a new account.
  • If you don’t have a username and password, you’ll need the account number, expiration date, name on the card on file, last 4 of business owner SSN.
  • From the associated card accounts page, you can view the outstanding balance, pay now and click between all card accounts to view transactions.

Cash back earned from all cards on the account are rolled up to the one card which was designated the Head of Household when the account was opened.

The head of household must log into ezcardinfo.com. Click Redeem Cash Back. You can redeem for a statement credit to the head of households card or direct deposit into SECU savings or checking account.

Business Services FAQs

Fraud FAQs

Home Equity FAQs

A HELOC works a lot like a credit card. It’s a flexible line of credit secured by your home’s equity but with a “draw” period (typically the first 15 years of a HELOC) which you may access from your available balance. You can draw at any time from this balance up to your available credit limit for things like home improvement, a medical bill or a family vacation.

Interest rates on HELOCs are usually variable rates. With a SECU HELOC, you can lock in up to three fixed rate, fixed payment sub-accounts under one master line. Often the interest on a HELOC is tax deductible, although you should check with your tax advisor.

Not at this time. However, our Home Equity Line of Credit offers you the option of locking in up to three fixed rate sub-accounts under one master line of credit. This gives you the advantages of both a fixed rate/fixed term account and a revolving home equity line.

This is where you can divide up your HELOC into smaller portions which are called sub-accounts. A sub-account gives you the advantage of a fixed rate, a fixed payment, and a fixed pay off schedule. Dividing up your HELOC also makes it easier to track your money.

For example, let’s say you want to purchase an $8,000 kitchen countertop. You have a $20,000 credit limit in your HELOC and no outstanding balance. With a SECU HELOC, you can create an $8,000 sub-account and either lock in that amount at a fixed rate with fixed payments, or allow the $8,000 to remain in your variable rate outstanding balance. Either way, you’ll still have $12,000 in affordable financing that you can still access for virtually any purpose.

$5,000.

No, but the total of your outstanding balance (including all sub-accounts and any revolving balance) may not exceed your total master credit limit.

We allow up to three fixed rate sub-accounts.

No. SECU will calculate one master payment for each of your sub-accounts and for any revolving balance you have outstanding. This one payment will be allocated to the appropriate sub-accounts. There is no need to individually pay each account or calculate separate payments. SECU does all that for you!

The additional $200 will be applied to any outstanding balance in the revolving line unless the member requests otherwise.

New sub-accounts will receive the APR in effect at the time the member opens that sub-account. Rate qualification will be based on the LTV and credit score in effect at the time the member opened the HELOC. You can check our current APRs here.

Intro rates will not apply to HELOC sub-accounts. If a sub-account is opened during an intro rate period, the APR will be that in effect at the time the sub-account is opened.

At present, you should call SECU or visit one of our branches.

There should be no difference in the tax deductibility of the interest on your sub-accounts vs. the interest on your HELOC revolving balance. However, you should consult with your tax advisor regarding deductibility.

HELOCs resulting from applications submitted on or after October 19, 2016 are eligible for sub-accounts, provided the account and the member are in good standing.

No, funds must be available in order to open a fixed sub-account.

Members may set up a sub-account at any time but may use ONLY their available balance. Members cannot take outstanding balance and put it into a sub-account.

It depends on the amount of your sub-account:

  • $5,000 to $9,999 for a term of 12 to 60 months
  • $10,000 to $14,999 for a term of 12 to 120 months
  • $15,000+ for a term of 12 to 180 months

No. The terms are set.

No. Sub-accounts are fixed rate, fixed term, fixed payment accounts. Members who want to go back to a revolving balance will need to pay off one of their sub-accounts or take out a completely new HELOC.

At this time, sub-accounts are available only for new HELOCs resulting from applications submitted on or after 10/19/16.

SECU renders a decision based upon information provided on the loan application. Because this decision is based upon information that has not yet been verified, it is considered a pre-approval subject to verification and/or receipt of additional information. Once all of the condition outlines in the pre-approval letter are satisfied, the loan will receive a final approval.

Call the Home Equity Department at 443-517-5676 or 800-879-7328.

The LTV is the relationship between the amount of the home equity loan and the value of the real estate property being pledged as collateral. For example, if you have a home that appraises for $100,000, and you have a $50,000 first mortgage and a $25,000 second mortgage, the two loans together represent a 75% loan to value.

No. Your monthly payments are credited towards the loan’s principal and interest.

You cannot increase an existing line of credit because the loan amounts are recorded in the county real estate land records. Therefore, you would need to reapply to increase your existing line of credit to match the loan amounts to the recorded lien amounts.

SECU pays all closing costs on owner occupied and second home loans up to $300,000. For all loan requests over $300,000 and on Investment/rental properties, the member will need to pay at closing and this can be done directly from the initial withdraw. For loans where SECU does pay the closing costs, you must reimburse those costs to SECU if your line of credit is paid off within 24 months of the original loan date. Closing costs generally range from $850 top $1,000 on a $20,000 line of credit.

You may pay off your HELOC using any payment channel. You can always find the payoff amount in online banking. To close your HELOC, you must call SECU or visit a branch.

Once your loan is ready to close, you will meet with a SECU branch representative at a SECU branch or with a settlement notary at your home or another location of your choosing.

Email, call, or fax the Loan Servicing department. Other departments within SECU can receive the request, but the quotes will only be issued by Loan Servicing.

If the payoff needs to go to a third party, please fax the request to 855-308-1233 or 443-517-5850, along with the member’s signature/authorization, and the following information:

  • Third party company name
  • Third party address
  • Third party phone number
  • Third party contact person (if necessary)
  • Third party fax number

Or complete the DocuSign form here.

Mobile Banking FAQs

There is no SECU fee for using any of our mobile banking services. However, mobile phone carriers may charge for wireless web/data access and for text messages.

With SECU’s Mobile Banking you can bank anywhere you have your mobile device:

  • Manage accounts- view accounts, account balances, recent transactions
  • Transfer funds- transfer funds between accounts, view recent and scheduled transfers
  • Bill Pay – make a payment, view payees, view recent and scheduled payments
  • Deposit checks – deposit checks by snapping a picture of the front and back
  • Manage alerts – create and view custom alerts with email or text notifications
  • Locations- easily find SECU Financial Centers and surcharge-free ATMs near you.
  • Open an account and apply for a loan

Our Mobile Banking capabilities are robust for both channels. Which one you use depends on your preference and your mobile device.
 
 Mobile Website
 Mobile App with Mobile Deposit 
 Free*
 Yes
 Yes
 Secure
 Yes
 Yes
 View Balances
 Yes
 Yes
 Transfer Funds between Accounts 
 Yes
 Yes
 View 90 Days of Account History
 Yes
 Yes
 Bill Pay to Persons or Businesses
 Yes
 Yes
 Locate SECU branches and free ATMs
 Yes
 Yes
 Receive Text Alerts
 Yes
 Yes
 Receive Email Alerts
 Yes
 Yes
 Receive Push Alerts
 No
 Yes
 Mobile Deposit
 No
 Yes
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You will need to be registered for Online Banking. Besides that, the requirements are very simple:

  • Mobile App with Mobile Deposit: Android or iOS device
  • Mobile Website: any internet-enabled phone and browser

First, you will need to be enrolled in Online Banking. Once you are enrolled, follow the steps below:

Mobile App:

  1. Visit the iPhone’s App Store or the Google Play Store to download the “SECU(Maryland)” app
  2. Enter your Online Banking user ID and password
  3. Accept the terms and conditions

Mobile Website:

  1. Go to secumd.org using a mobile device’s web browser
  2. Enter your Online Banking user ID and password

You can receive any of the following alerts through text message, email, or push notification:

  • Balances Lower/Greater than deposit confirmation
  • Deposit Confirmation
  • Withdrawal Threshold Exceeded
  • Check Cleared
  • Withdrawal Confirmation
  • Overdraft Posted
  • Statement Available
  • Login alert

Yes. Mobile Banking uses encryption similar to Online Banking to keep your information secure and confidential. Our Mobile Banking application does not store any confidential information on your phone. You may choose to save your User ID, if you wish.

Yes. You can login to our mobile website from any mobile device with internet capabilities.

Yes, you may use the mobile web site or app on one mobile device for multiple different account usernames. You will be able to use one mobile device to conduct mobile banking through the mobile web site or app for all your business, personal, etc. accounts.

To set up Alerts, log into Online Banking or mobile banking and select Settings.

Once in the Settings area, select Notifications. From there, you can create alerts and select delivery methods.

Note: if you intend to set up text message alerts, make sure you have enabled SMS from the contact tab of Settings.

Yes, as long as you are able to use a mobile browser you can use this service.

Yes.

All accounts that you can access through Online Banking can be accessed through Mobile Banking.

Yes, there is a five-minute time out for our Mobile Banking.

Paying off your SECU loan can be completed via Online Banking, Mobile Banking or by calling 1-800-879-7328.

Note: a loan payoff is only available online for some loans, namely closed-end, non-revolving loans. If you are looking to pay off open-end, revolving or Mortgage type loans, please visit a Financial Center or call us.

To set up Nicknames, log into mobile banking and select Settings (cog wheel) from the left navigation bar. Once in the Settings area select accounts. Tap or click on the account you want to change the nickname for and select the pencil icon to change the nickname.

SECU’s Mobile Deposit is a service that allows you to deposit checks directly into your SECU personal Checking or Savings account using your smartphones and tablets.

To qualify for SECU’s Mobile Deposit, members must be in good standing, have an active SECU personal Checking account, be a member for at least 30 days, and have registered for Online Banking.

To check if your account is eligible for Mobile Deposit, log into our app via your phone or tablet and tap on the “Deposit a Check” icon. If you don’t receive an ineligibility message, then you are good to go. Visit a Center or call us to discuss if you aren’t able to access mobile deposit.

We currently offer Mobile Deposit for Android phones with an OS of 7 and higher and iOS devices with an OS of 12 or higher and an auto-focused 3.2 megapixel or higher camera.

Yes. You access Mobile Deposit through SECU’s Mobile Banking app, which uses encryption similar to Online Banking to keep your information secure and confidential. SECU’s Mobile Banking applications do not store any confidential information on your phone.

You may deposit checks into any of your SECU personal Checking, Savings, or Money Market accounts.

Follow the steps below:

  1. Sign up for Online Banking.
  2. Visit the Apple App store or the Google Play Store to download the appropriate “SECU Mobile (Maryland)” app.
  3. Launch the app and click on the icon for “Deposit a Check” and fill in all fields on the page.

SECU’s Mobile Deposit allows you to deposit only single-party, domestic checks. Savings Bonds, traveler’s checks, foreign checks, third party checks, items stamped with “non-negotiable”, incomplete checks, stale-dated or “post-dated” checks, any checks that contain evidence of alteration to the information, checks purported to be a lottery or prize winning, and checks previously submitted for deposit are not acceptable for Mobile Deposit.

Deposits will be shown in your balance immediately if completed during business hours. The first $500 of your deposit will be immediately available. The balance of deposits in excess of $500 will be available on the second business day after your deposit.

Please note that deposit amounts may be adjusted up to two business days after a deposit is made.

SECU’s Mobile Deposit service is free for members. Please note there may be a fee for checks deposited that are later returned.

Store your check(s) in a safe place for 90 days to ensure both SECU and the issuing institution honor the check. Then destroy the check by shredding or another commercially acceptable means of data destruction.

You will be provided a confirmation number on your confirmation screen. You may also verify the deposit through Online Banking or Mobile Banking. You may request that an alert be sent to you via text message, email or push notification.

Not in the same transaction, but you can simply click the “done” button when you receive your deposit confirmation number, and then select “deposit check” to deposit another check.

Double check the following:

Your check photos are clear and legible. Be sure that there are no shadows on the check, the check itself is not wrinkled excessively, the image is not blurry from “camera shake,” and the writing is contained within the relevant spaces on the check.

You have positioned the check against a dark or contrasting background.

The MICR line (the bottom portion of the check that includes your account number and SECU’s routing number) is fully visible (be sure the corners of the check are not covering this line). There is space between the MICR line and the edge of the image.

The check number, payee, endorsement, character (numeric) amount, legal (written) amount, and MICR line are all readable. If the check continues to be rejected, bring it to one of our ATMs or Financial Center’s for deposit.

Money Market FAQs

Mortgages FAQs

SECU offers both Conventional and FHA financing, including the following loan products:

  • Fixed Rate Mortgages, including 10, 15, 20, and 30 year mortgage
  • Adjustable Rate Mortages, including 3/1, 5/1, 7/1, and 10/1 ARMs
  • FHA Mortgages
  • 100% Financing
  • Fannie Mae HomeReady® Mortgages
  • M.D Loans –special mortgages for medical professionals
  • Jumbo Mortgages

With an Adjustable Rate Mortgage, or “ARM,” your Interest rate is based on an index plus a margin. It is fixed for the initial period, such as first five years on a 5/1 ARM or the first seven years on a 7/1 ARM. The rate will then adjust each and every year thereafter. The new interest rate is based on the current index plus a margin. The rate interest is capped at 2% for each initial change, and the lifetime cap is 6% over the initial rate. Please contact us for the current index and margin.

100% financing is a mortgage product for first time buyers who have good credit but don’t have a lot of cash for a down payment or closing costs. Eligible borrowers can buy a home with a down payment of as little as 1% or $1,000 (whichever is less).

You will need to pay $1,000 or 1% of the loan amount, whichever is less.

Qualifying professionals include those with the following degrees. MD or DO, , DDS, DMD (Dr. of Dental Medicine), OD (Dr. of Optometry), DPM (Dr. of Podiatric Medicine), DO (Dr. of Osteopathy), RPH (Pharmacist) and DVM (Dr. of Veterinary Medicine)

Loan amounts are available from $500,000 to $2,000,000.

Of course. One of our mortgage professionals would be happy to help you find the right mortgage. You may select a mortgage professional near you and they will be in touch with you within 24 hours.

Closing costs vary by location, although they are generally around 5% to 6% of your loan amount for a purchase and 3% to 4% of your loan amount for a refinance. On a refinance loan, SECU allows you to roll your closing costs into your loan amount.

A rate/term refinance is when the member pays off an existing first lien mortgage and rolls in their closing costs. A cash-out refinance request is when the member not only pays off an existing first lien, but also wants additional funds to either pay off a second lien, consumer debt, home improvement, vacation, tuition, etc.

A point is a fee, collected at closing, which the lender charges the member in order to obtain either a lower interest rate or a specific program. One point is equal to 1% of the loan amount.

Private Mortgage Insurance is required on all conventional loans where the member either has less than 20% equity in the property, in the case of a refinance; or less than a 20% down payment, in the case of a purchase. The lender will obtain the insurance, and the fee will be included in the member’s monthly mortgage payment. It insures the lender against the member’s default on the loan.

PMI is typically required when you have a conventional mortgage and make a down payment of less than 20% of the home’s purchase price or your equity will be less than 20%.

With the exception of the 100% Financing Mortgage and the HomeReady Mortgage, our products typically require at least a 5% down payment from the member’s own saved funds.

Yes, SECU is happy to work with our members to get them pre-qualified for a mortgage loan. Based on some personal information and your credit history, SECU will issue a pre-approval letter stating the sales price that the member would qualify up to and the loan program that would best suit them. The pre-approval letter and credit report are good for 120 days.

No, there is no application fee. SECU requires that the appraisal fee be paid at time of processing your mortgage.

The Federal Truth-in-Lending law requires that all financial institutions disclose the APR (Annual Percentage Rate) when they advertise a rate. The APR is designed to present the actual cost of obtaining financing, by requiring that some, but not all, closing fees are included in the APR calculation. These fees in addition to the interest rate determine the estimated cost of financing over the full term of the loan.

You are eligible to lock in your interest rate at time of application or you may choose to float the rate. Once you lock the rate, the interest rate is guaranteed for 60 days. The interest rate must be locked in at least 10 business days prior to loan closing.

There is no rate guarantee for a pre-approval loan request. You will be qualified at the current interest rate in effect at time of application.

At this time, SECU does not finance raw land.

Yes, SECU will require that an escrow account be set up at closing and 1/12th of the charges will be included in the monthly mortgage payment.

Each October, members that have a mortgage with an escrow account receive an Escrow Analysis statement from SECU. An Escrow Analysis is the periodic examination of escrow accounts to determine if current monthly deposits to an escrow account will provide sufficient funds to pay taxes, insurance, and other bills escrowed for when they are due.

If you have a surplus that is less than $50, we will reduce your escrow payments over the upcoming year. If you have a surplus greater than $50, we will mail you a check.

If you have a shortcoming, we will adjust the escrow portion of your payments to include 1/12 of your shortage and an increase to help cover your bills next year.

We provide a guide online.

Not without refinancing. However, you may lock in another fixed rate term (e.g. another five years on a 5/1 ARM, another seven years on a 7/1 ARM, etc.) using our LoanFlex program. If your loan is eligible for LoanFlex, you will see a LoanFlex icon in online banking. Click on it to learn more.

No, at this time SECU does not offer construction loans. All properties must be fully complete prior to any loan disbursement.

SECU may be able to help. Please contact us at 410-487-7328 or 800-879-7328.

We also offer members financial counseling through Accel.

Online Banking FAQs

SECU’s Online Banking service allows you to access your SECU accounts via the Internet to view accounts, pay bills, and transfer funds. You can view all of your SECU accounts including Checking, Savings, Certificates of Deposit, IRAs, and most loans (including lines of credit and mortgages), and Visa Credit Cards.

You can do almost all your personal banking online:

  • View account balances
  • Transfer funds – Transfers initiated after 8:30 pm ET Monday – Friday or after 4:30 pm ET on holidays and weekends will be posted the next business day.
  • Pay bills to persons or businesses online through Bill Pay
  • Loan or line of credit payments
  • SECU line of credit or Visa Credit Card cash advances
  • View online check images
  • Apply for loans
  • Order checks
  • View Online Statements
  • View and pay your SECU Visa Credit Cards
  • Open new accounts
  • Deposit a check through My Deposit
  • Domestic and international wire transfers
  • Transfer balances to or receive cash advances from your Visa Credit Card
  • Download to Quicken, and Microsoft Money

Online Banking is free to all SECU members.

Yes, if you’re a SECU member, then you can enroll online quickly and easily here.

Send us your written request to terminate service to SECUP.O. Box 2148 Glen Burnie MD 21060. Be sure to include your name and member number with your correspondence Or call our contact center at 410-487-7328 or 800-879-7328.

Yes. Your new username must be 8-20 characters, include at least one letter and one number, and cannot include a space. We encourage you to include upper and lowercase letters, and one or more of the following special characters: ! @ # $ % * _ + = . , ^ –

There are several ways to contact us:

  • Call SECU’s Contact Center during business hours, Monday – Friday, 8 am to 7 pm or Saturday, 9 am to 1 pm at 410-487-7328 or 800-879-7328.
  • You can also send us an email through the message center by clicking on your name and then messages in the upper right of your screen once you’ve logged in.

No, any account is eligible for access to online banking. A SECU Checking account is required for Bill Pay service.

To view all pending scheduled transfers, login and select the “transfers” widget. From there select Scheduled. Your scheduled transfers will be at the bottom.

You can edit a scheduled transfer from the scheduled transfers tab.

  1. Click the transfer widget on the left.
  2. Click the scheduled tab
  3. From the scheduled tab, click the pencil icon next to any scheduled transfer. That transfer will open up. Simply edit the provided information, and then click save to update the transfer. Please note, you cannot edit the from account, or the frequency. Delete the transfer completely and create a new transfer if that field must be edited.

You can delete a scheduled transfer from the scheduled transfers tab.

  1. Click the transfer widget on the left.
  2. Click the scheduled tab
  3. From the scheduled tab, click the trash can icon next to any scheduled transfer. You will be prompted to confirm that you want to cancel the transfer.

You can only edit/delete transfers that have been set up online. For automatic loan payments or automatic transfers to/from other financial institutions, please call 410-487-7328 or 800-879-7328 or stop by any Financial Center.

Withdrawals and deposits occur every business evening. If a scheduled transfer falls on a non-business day, then it will process on the following business day. If, at the time of processing, it is determined that there are insufficient funds to complete the transfer, an attempt will be made to withdraw again on the next business day for up to 30 days. If a transfer cannot be completed after 30 attempts, it will be reset to the next transfer date. The exception to this are the one-time transfers which will attempt to transfer for up to four days.

Some restrictions do apply. Only accounts available for transfer will appear in your account drop down list.

No, scheduled transfers do not currently count toward the six allowed transactions per month.

Transfers scheduled for a date that does not occur in that particular month will process on the next available business day. For example: if a monthly transfer is scheduled for the 31st of every month, the transfer will occur on the first if that month does not have 31 days.

Our most popular retail deposit products can be opened online:

Other SECU retail deposit accounts and additional CD terms can be opened by U.S. mail (using the forms available on our forms page) or at a branch.

Existing members can fund new accounts by transferring funds from their existing accounts or debiting account with another financial institution via ACH.

New members can fund their new accounts by debiting an account with another financial institution via ACH.

It depends on the type of funding used:

  • If the new account is funded via internal transfer from another SECU account, it will generally be opened and available immediately.
  • If the account is funded via ACH from another institution, the account will be open immediately after funding and the funds will be deposited according to the ACH network guidelines.

The account at SECU will not be opened until you verify those two deposits. Please save the confirmation email generated when you open a new account online. It includes the verification procedures for accounts funded via ACH.

Yes, you must be 18 or older to establish membership/open accounts online.

Any of the following:

  • Online Banking
  • Order paper checks (checking and money market accounts)
  • Request Visa Debit Card (checking accounts)
  • Sign up for debit card overdraft coverage (checking accounts)

This can be done at any time by:

  • Call SECU’s Contact Center during business hours, Monday – Friday, 8 am to 7 pm or Saturday, 9 am to 1 pm at 410-487-7328 or 800-879-7328.
  • You can also send us an email through the message center by clicking on your name and then messages in the upper right of your screen once you’ve logged in.
  • Or visiting a branch

SECU business accounts may be opened at your local branch or through a business banker. If you would like to be contacted by a business banker, please complete our short request form and we will get back to you within 24 hours. Learn more.

Yes!

To receive Online Statements, you must be enrolled in Online Banking.

  • Log on to Online Banking.
  • Click on the “EStatements/Notices” Widget.
  • Click on the “Subscribe” button.
  • Read the disclosure and follow the directions.
  • You will begin to receive your Online Statements within two statement cycles.

To discontinue online statements, use the “Unsubscribe” button in Online Banking.

You can view up to 36 months of archived statements.

Online Bill Pay is a service that allows you to pay all your bills to businesses electronically (if the receiving business accepts them electronically) through Online Banking. No need to write checks or search for stamps. Your bills and records are in one secure location. You don’t need to remember multiple passwords, and you can see your current and past transactions in one spot. You can even have your monthly bills automatically paid through Bill Pay.

SECU’s Bill Pay is free for all members.

Sign up for Online Banking. Click on the Bill Pay widget in the left navigation bar and accept the terms and conditions.

Most bills are paid within two business days. If the payee is not one of the recognized providers on our system, and we mail a paper check, then it will take as long as the mail takes to deliver.

Common payees such as phone companies, power companies, credit card companies, and more are already loaded in the Bill Pay system. If the payee you are trying to pay is not already loaded to the system, you can manually add them.

You are the only person who can authorize payments to be issued against your account. Our representatives only access your account information on a need-to-know basis and only with your approval.

Bill Pay is highly secure and designed to fully safeguard the privacy and security of your financial information. Unlike normal Internet communication, all information sent to and from our processing center is encrypted and sent through a secure communications channel. Messages cannot be redirected, read, or tampered with. We also take advantage of the maximum level of security supported by your browser.

Only you can authorize payments. You have complete control over whom you are issuing a payment to, the exact payment amount, when the payment should be sent and whether to pay the bill at all. If you have a flat fee or recurring bill that you would like to have paid each month, then you can instruct us to make that payment automatically for you.

A confirmation number indicates that the bill has been processed and paid, and it appears on your statement.

Please contact the Bill Pay service directly by calling 410-487-7328 or 800-879-7328, option 2 > option 4 > option 2.

You can change the funding account by selecting a different SECU Checking account from the “Pay from” dropdown within the Bill Pay screen.

Multi Factor Authentication (MFA) is a service that adds an extra layer of protection to your online banking login. More info on what MFA is can be found on the web here.

There are several benefits the new MFA service will provide that increase security and add convenience throughout your online banking experience, such as:

With the new MFA service, there is no longer a need for Flash software in the “Log In” section. This means you will be able to log in from all of your devices such as iPads, mobile devices, and Mac computers.

MFA also allows you to access your accounts more quickly by offering a “remember this device” feature. When the box checked, you will not be presented with security questions upon Log In.

Note: if you have turned on “Mandatory Two Factor Authentication” from the security tab of your Settings, MFA will be presented every time you login regardless of remembered devices.

There is no special enrollment process or additional steps that you have to take. Just enjoy SECU Online Banking as you normally do!

Yes, you can still access your Online Banking accounts from any number of devices. If you are accessing your Online Banking from a new computer or browser, then you will be asked to have a code sent via email or text, whichever you have set up.

Desktop users:

  1. Log into Digital Banking.
  2. Click the “TRANSFERS” widget in the left navigation.
  3. Click “Detailed” in the top navigation.
  4. Click “Add a Non-SECU Account.”
  5. Read the ACH Transfer Policy, click the “I Agree” checkbox, and press “Continue.”
  6. Provide the requested information about your external account. Next, click “Save.”
  7. Read how to confirm your external account. We ask you to complete a trial deposit verification to identify yourself as the account owner. We will send two small deposit transactions to your external account. These may take up to three business days to appear in your transaction history.
  8. To finish adding your account once you’ve received the trial deposits, log into Digital Banking and click “Confirm” in the pending external account notification on your dashboard.
  9. Locate your pending external account within your list of accounts. Click “Confirm.”
  10. Enter the exact amounts of the two deposits made to your external account. Click “Confirm.”
  11. You will receive a message verifying that your external account has been confirmed.

Mobile users:

  1. Log into Digital Banking.
  2. Tap the “Transfers” widget in the main navigation.
  3. Tap “Add Account.”
  4. Tap “External Account” and provided the requested information.
  5. Read how to confirm your external account and the Transfer Policy. We ask you to complete a trial deposit verification to identify yourself as the account owner. We will send two small deposit transactions to your external account. These may take up to three business days to appear in your transaction history.
  6. To finish adding your external account once you have received the trial deposits, log into Digital Banking and tap the “Settings” widget in the main navigation.
  7. Tap “Accounts.”
  8. Locate your pending external account within your list of accounts. Tap “Confirm.”
  9. Enter the exact amounts of the two deposits made to your external account. Tap “Confirm.”
  10. You will see a confirmation message verifying that your external account has been confirmed.

Transfer from:

  • Any SECU checking, savings, or money market account
  • Any Non-SECU checking, savings or money market account

Transfer to:

  • Any SECU checking, savings, or money market account
  • Any Non-SECU checking, savings or money market
  • Any SECU loan or line of credit (excluding Credit cards)

The daily transaction limits are $5,000.00 and the monthly transaction limits are $10,000.00.

For incoming transactions to SECU accounts, it will take up to three business days to receive funds due to processing times. For outgoing transactions from SECU accounts, it will take one business day for you to receive your funds.

In the event that your transaction has been cancelled by SECU, you will receive a cancellation notification to your email on file. For all other notifications regarding your transaction with a non-SECU account, any alerts you have set up for transfers such as withdrawal thresholds, transfers completed, etc. will apply as well. If you have been blocked from transferring with your non-SECU account, you will be notified as well.

Personal Auto Loans FAQs

Personal Banking FAQs

You receive a specific rate that corresponds with your Reward Level, which is determined by account activity and your account balance.

SECU may change interest rates depending on market conditions, just like we do with our other services. We’ll always offer competitive rates that make sense to you and are easy to understand.

You can find one of our thousands of free ATMs at any time using our mobile or online locator.

Your Reward Level is calculated monthly based on your account activity and can be accessed by clicking on the My Rewards icon within SECU’s online and mobile banking platform.

An overdraft is created when the Available Balance in your Checking, Share Savings, or other deposit account is not sufficient to cover a check, withdrawal, automatic transfer, electronic transaction, returned deposited item or any other electronic purchase payment, or debit. See our Agreements and Disclosures booklet for important details on your checking account balances, overdrafts, and helpful tips to avoid overdrafts.

SECU’s routing number is 255076753.

If you have online banking, you can order them right away using the “Order Checks” link under “Accounts”. If you do not have online banking, you can order checks by phone or at a branch.

Under our standard overdraft practices:
  • We will charge you an overdraft fee of $30 (in addition to payment of the overdraft) each time we pay an overdraft using Courtesy Pay.
  • There is no limit to the number of overdraft fees we can charge you for overdrawing your account.
We do not authorize and pay overdrafts for everyday debit card purchases using Courtesy Pay unless you ask us to do so.

Direct Deposit of your paycheck is usually available immediately as are cash deposits made via branch or ATM. For check deposits, it depends on your method of deposit.
Deposit Channel Funds Availability for Check Deposits
ATM $500 immediately, remainder next business day
Mobile Deposit or MyDeposit $500 immediately, remainder in 2 business days
Branch Full immediately available, subject to exception holds. Please see our Agreements & Disclosures for more information.

We do pay overdrafts for the following types of transactions:
  • Checks and other transactions made using your checking account number
  • Automatic bill payments
  • We do not authorize and pay overdrafts for ordinary debit card purchases unless you opt-in to Courtesy Pay. Our default process is that you are not opted in to Courtesy Pay. Courtesy Pay is a more expensive option that you must opt-in to in order for it to apply.
We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction. If we do not authorize and pay an overdraft, your transaction will be declined and you may be charged a fee.

You may opt in in one of two ways:
  • Online: Click the link for “Debit Card Overdraft Options” under the Checking tab within Online Banking.
  • By Phone: Call 410-487-7328 or 800-879-7328 and select the Checking option to talk to a representative.

No. You cannot use your SECU debit card to withdraw more funds at an ATM than are available in your account.

Your Checking account has two kinds of balances: the “Total” Balance – Total Balance may sometimes be referred to as current balance– and the “Available” Balance. Both can be checked when you review your account online, through mobile banking or at a branch. It is important to understand how the two balances work so that you know how much money is in your account at any given time. This section explains total and available balances and how they work.

Your Total Balance is the amount of money in your account at any given time. It reflects all deposits made to your account, even if a portion of those deposits is on hold and therefore not available to you. (See our deposit hold policy.) It also reflects only payment transactions that have actually “posted” to your account, but not transactions that have been authorized and are pending. While the term “total” may sound as though the number you see is an up-to-date display of what is in your account that you can spend, that is not always the case. Any purchases, holds, fees, other charges, or deposits made on your account that have not yet posted will not appear in your Total Balance. For example, if you have a $50 Total Balance, but you just wrote a check for $40, then your total is $50.00 but it does not reflect the pending check transaction. So at that point, you actually have $50, but you have already spent $40.

Your Available Balance is the amount of money in your account that is available to you to use without incurring an overdraft fee. The Available Balance takes into account things such as holds placed on deposits and pending transactions (such as pending debit card purchases) that you initiated and SECU has authorized but that have not yet posted to your account. For example, assume you have a Total Balance of $50 and an Available Balance of $50. If you were to use your debit card at a restaurant to buy lunch for $20, then that merchant could ask us to pre-authorize the payment. In that case, we will put a hold on your account for $20. Your Total Balance would still be $50 because this transaction has not yet posted, but your Available Balance would be $30 because you have committed to pay the restaurant $20. When the restaurant submits its bill for payment (which could be a few days later), we will post the transaction to your account and your total will be reduced by $20.

Available Balance is used to determine when your account is overdrawn. The following example illustrates how this works:

Again, assume both your Total and Available Balances are $50, and you use your debit card at a restaurant for $20. A hold is placed on your account, so your Available Balance is only $30. Your Total Balance is still $50. Before the restaurant charge is sent to us for processing, a check that you wrote for $40 clears. Because you have only $30 available (you have committed to pay the restaurant $20), your account will be overdrawn by $10, even though your Total Balance is $50. In this case, we may pay the $40 check, but you will be charged an overdraft fee of $30. That fee will be deducted from your account, further reducing the balance.

It is very important to understand that you may still overdraw your account even though the Available Balance appears to show there are sufficient funds to cover a transaction that you want to make. This is because your Available Balance may not reflect all your outstanding checks and automatic bill payments that you have authorized, or other outstanding transactions that have not been paid from your account. In the example above, the outstanding check will not be reflected in your Available Balance until it is presented to us and paid from your account.

In addition, your Available Balance may not reflect all of your debit card transactions. For example, if a merchant obtains our prior authorization but does not submit a one-time debit card transaction for payment within 48 business hours of authorization, we must release the authorization hold on the transaction. The Available Balance will not reflect this transaction once the hold has been released until the transaction has been received by us and paid from your account.

The best way to understand how much money you have, and avoid overdrafts, is to keep careful track of all your deposits, any holds, and payment transactions.

SECU’s posting order is as follows: Checks, drafts, items, and other transactions will normally be batch processed in the following order: Payroll, ACH credits, ACH debits (in the order in which we receive them), Check debits (in the order in which we receive them), Debit card debits (in the order in which we receive them).

However, we may alter the batch processing order at our discretion. The order in which we process checks, debits, and items and execute other transactions on your account may affect the total amount of overdraft fees that may be charged to your account. The items in the batch are posted in the order in which we receive them.

The amount you can withdraw depends on your withdrawal channel. In no circumstances can you withdraw more than the available balance.
Withdrawal Channel Daily Withdrawal Limits
ATM $500 or your Available Balance, whichever is less
Branch Cash: $5,000 or up to your Available Balance, whichever is less
Check: No limit up to your Available Balance

Since SECU Total ™ Checking & Rewards will become the only checking account members have on October 1, 2021 it may be better to contact a service representative with any questions regarding these products.

Expressline is a free telephone service that allows you to access your SECU accounts 24 hours a day from almost anywhere. All you need is a touch-tone phone, your SECU member number, and your special Expressline personal identification number (PIN).

410-487-7930 OR 888-64-EXPRS (643-9777).

You can call us Monday – Friday, 8 am to 7 pm or Saturday, 9 am to 1 pm to request a new PIN: 410-487-7328 or 800-879-7328.

Personal Borrowing FAQs

SECU offers both Conventional and FHA financing, including the following loan products:

  • Fixed Rate Mortgages, including 10, 15, 20, and 30 year mortgage
  • Adjustable Rate Mortages, including 3/1, 5/1, 7/1, and 10/1 ARMs
  • FHA Mortgages
  • 100% Financing
  • Fannie Mae HomeReady® Mortgages
  • M.D Loans –special mortgages for medical professionals
  • Jumbo Mortgages

A HELOC works a lot like a credit card. It’s a flexible line of credit secured by your home’s equity but with a “draw” period (typically the first 15 years of a HELOC) which you may access from your available balance. You can draw at any time from this balance up to your available credit limit for things like home improvement, a medical bill or a family vacation.

Interest rates on HELOCs are usually variable rates. With a SECU HELOC, you can lock in up to three fixed rate, fixed payment sub-accounts under one master line. Often the interest on a HELOC is tax deductible, although you should check with your tax advisor.

Contact any of the following credit reporting agencies to receive one free copy of your credit report each year: Experian 1-888-397-3742, Equifax 1-800-685-1111, or Trans Union 1-800-888-4213.

With an Adjustable Rate Mortgage, or “ARM,” your Interest rate is based on an index plus a margin. It is fixed for the initial period, such as first five years on a 5/1 ARM or the first seven years on a 7/1 ARM. The rate will then adjust each and every year thereafter. The new interest rate is based on the current index plus a margin. The rate interest is capped at 2% for each initial change, and the lifetime cap is 6% over the initial rate. Please contact us for the current index and margin.

Not at this time. However, our Home Equity Line of Credit offers you the option of locking in up to three fixed rate sub-accounts under one master line of credit. This gives you the advantages of both a fixed rate/fixed term account and a revolving home equity line.

The following payment methods are available, but may vary based on loan type:

  • Automatic or one-time transfers from Online Banking
  • Internal transfer from a SECU Checking or Share Savings account
  • Monthly biller
  • Automated Clearing House (ACH) from a checking or savings account at another institution

100% financing is a mortgage product for first time buyers who have good credit but don’t have a lot of cash for a down payment or closing costs. Eligible borrowers can buy a home with a down payment of as little as 1% or $1,000 (whichever is less).

This is where you can divide up your HELOC into smaller portions which are called sub-accounts. A sub-account gives you the advantage of a fixed rate, a fixed payment, and a fixed pay off schedule. Dividing up your HELOC also makes it easier to track your money.

For example, let’s say you want to purchase an $8,000 kitchen countertop. You have a $20,000 credit limit in your HELOC and no outstanding balance. With a SECU HELOC, you can create an $8,000 sub-account and either lock in that amount at a fixed rate with fixed payments, or allow the $8,000 to remain in your variable rate outstanding balance. Either way, you’ll still have $12,000 in affordable financing that you can still access for virtually any purpose.

A co-borrower is someone who applies jointly for credit with the primary applicant and who is equally responsible for repayment of the loan. The payment history on the loan will affect all borrowers.

You will need to pay $1,000 or 1% of the loan amount, whichever is less.

$5,000.

Rates are based on the credit score supplied by the credit reporting agency. Your rate may also vary based on the length of your loan or your repayment method.

Qualifying professionals include those with the following degrees. MD or DO, , DDS, DMD (Dr. of Dental Medicine), OD (Dr. of Optometry), DPM (Dr. of Podiatric Medicine), DO (Dr. of Osteopathy), RPH (Pharmacist) and DVM (Dr. of Veterinary Medicine)

No, but the total of your outstanding balance (including all sub-accounts and any revolving balance) may not exceed your total master credit limit.

We can only release information on a loan to the borrowers or with their written permission to discuss with someone else.

Loan amounts are available from $500,000 to $2,000,000.

We allow up to three fixed rate sub-accounts.

Email or call the Loan Servicing department. You can also request your payoff at any branch location, through SECU’s Contact Center, or by faxing your request to 410-487-7246.

Or complete the DocSign form here.

Of course. One of our mortgage professionals would be happy to help you find the right mortgage. You may select a mortgage professional near you and they will be in touch with you within 24 hours.

No. SECU will calculate one master payment for each of your sub-accounts and for any revolving balance you have outstanding. This one payment will be allocated to the appropriate sub-accounts. There is no need to individually pay each account or calculate separate payments. SECU does all that for you!

From Your SECU Account:

Login to Online Banking and set up a Scheduled Transfer.


From Another Financial Institution:


Complete the Automatic Loan Payment Form and mail to

For Consumer Loans:


P.O. Box 6541, Greenwood Village, CO 80155


Or complete the form here.



For Real Estate Loans:


P.O. Box 2092, Glen Burnie, MD 21030


Or complete the DocSign form here.


Closing costs vary by location, although they are generally around 5% to 6% of your loan amount for a purchase and 3% to 4% of your loan amount for a refinance. On a refinance loan, SECU allows you to roll your closing costs into your loan amount.

The additional $200 will be applied to any outstanding balance in the revolving line unless the member requests otherwise.

From Your SECU Account:


Login to Online Banking and select Transfer Funds.



From Another Financial Institution:


When setting up SECU as your payee in Bill Pay, enter the following:

SECU, P.O. Box 2172, Glen Burnie, MD 21060

Routing number: 255076753

Account number: *********

A rate/term refinance is when the member pays off an existing first lien mortgage and rolls in their closing costs. A cash-out refinance request is when the member not only pays off an existing first lien, but also wants additional funds to either pay off a second lien, consumer debt, home improvement, vacation, tuition, etc.

New sub-accounts will receive the APR in effect at the time the member opens that sub-account. Rate qualification will be based on the LTV and credit score in effect at the time the member opened the HELOC. You can check our current APRs here.

Standard Mail

SECU, Mail Operations

P.O. Box 2172, Glen Burnie, MD 21060


Overnight Mail

Attn: Mail Operations

971 Corporate Blvd, Linthicum, MD 21090

A point is a fee, collected at closing, which the lender charges the member in order to obtain either a lower interest rate or a specific program. One point is equal to 1% of the loan amount.

Intro rates will not apply to HELOC sub-accounts. If a sub-account is opened during an intro rate period, the APR will be that in effect at the time the sub-account is opened.

Private Mortgage Insurance is required on all conventional loans where the member either has less than 20% equity in the property, in the case of a refinance; or less than a 20% down payment, in the case of a purchase. The lender will obtain the insurance, and the fee will be included in the member’s monthly mortgage payment. It insures the lender against the member’s default on the loan.

At present, you should call SECU or visit one of our branches.

From your SECU account. Call 800-879-7328 or 410-487-7328, select the option for an Existing Loan.

PMI is typically required when you have a conventional mortgage and make a down payment of less than 20% of the home’s purchase price or your equity will be less than 20%.

There should be no difference in the tax deductibility of the interest on your sub-accounts vs. the interest on your HELOC revolving balance. However, you should consult with your tax advisor regarding deductibility.

With the exception of the 100% Financing Mortgage and the HomeReady Mortgage, our products typically require at least a 5% down payment from the member’s own saved funds.

HELOCs resulting from applications submitted on or after October 19, 2016 are eligible for sub-accounts, provided the account and the member are in good standing.

Yes, SECU is happy to work with our members to get them pre-qualified for a mortgage loan. Based on some personal information and your credit history, SECU will issue a pre-approval letter stating the sales price that the member would qualify up to and the loan program that would best suit them. The pre-approval letter and credit report are good for 120 days.

No, funds must be available in order to open a fixed sub-account.

No, there is no application fee. SECU requires that the appraisal fee be paid at time of processing your mortgage.

Members may set up a sub-account at any time but may use ONLY their available balance. Members cannot take outstanding balance and put it into a sub-account.

The Federal Truth-in-Lending law requires that all financial institutions disclose the APR (Annual Percentage Rate) when they advertise a rate. The APR is designed to present the actual cost of obtaining financing, by requiring that some, but not all, closing fees are included in the APR calculation. These fees in addition to the interest rate determine the estimated cost of financing over the full term of the loan.

It depends on the amount of your sub-account:

  • $5,000 to $9,999 for a term of 12 to 60 months
  • $10,000 to $14,999 for a term of 12 to 120 months
  • $15,000+ for a term of 12 to 180 months

You are eligible to lock in your interest rate at time of application or you may choose to float the rate. Once you lock the rate, the interest rate is guaranteed for 60 days. The interest rate must be locked in at least 10 business days prior to loan closing.

No. The terms are set.

There is no rate guarantee for a pre-approval loan request. You will be qualified at the current interest rate in effect at time of application.

No. Sub-accounts are fixed rate, fixed term, fixed payment accounts. Members who want to go back to a revolving balance will need to pay off one of their sub-accounts or take out a completely new HELOC.

At this time, SECU does not finance raw land.

At this time, sub-accounts are available only for new HELOCs resulting from applications submitted on or after 10/19/16.

Yes, SECU will require that an escrow account be set up at closing and 1/12th of the charges will be included in the monthly mortgage payment.

SECU renders a decision based upon information provided on the loan application. Because this decision is based upon information that has not yet been verified, it is considered a pre-approval subject to verification and/or receipt of additional information. Once all of the condition outlines in the pre-approval letter are satisfied, the loan will receive a final approval.

Each October, members that have a mortgage with an escrow account receive an Escrow Analysis statement from SECU. An Escrow Analysis is the periodic examination of escrow accounts to determine if current monthly deposits to an escrow account will provide sufficient funds to pay taxes, insurance, and other bills escrowed for when they are due.

If you have a surplus that is less than $50, we will reduce your escrow payments over the upcoming year. If you have a surplus greater than $50, we will mail you a check.

If you have a shortcoming, we will adjust the escrow portion of your payments to include 1/12 of your shortage and an increase to help cover your bills next year.

Call the Home Equity Department at 443-517-5676 or 800-879-7328.

We provide a guide online.

The LTV is the relationship between the amount of the home equity loan and the value of the real estate property being pledged as collateral. For example, if you have a home that appraises for $100,000, and you have a $50,000 first mortgage and a $25,000 second mortgage, the two loans together represent a 75% loan to value.

Not without refinancing. However, you may lock in another fixed rate term (e.g. another five years on a 5/1 ARM, another seven years on a 7/1 ARM, etc.) using our LoanFlex program. If your loan is eligible for LoanFlex, you will see a LoanFlex icon in online banking. Click on it to learn more.

No. Your monthly payments are credited towards the loan’s principal and interest.

No, at this time SECU does not offer construction loans. All properties must be fully complete prior to any loan disbursement.

You cannot increase an existing line of credit because the loan amounts are recorded in the county real estate land records. Therefore, you would need to reapply to increase your existing line of credit to match the loan amounts to the recorded lien amounts.

SECU may be able to help. Please contact us at 410-487-7328 or 800-879-7328.

We also offer members financial counseling through Accel.

SECU pays all closing costs on owner occupied and second home loans up to $300,000. For all loan requests over $300,000 and on Investment/rental properties, the member will need to pay at closing and this can be done directly from the initial withdraw. For loans where SECU does pay the closing costs, you must reimburse those costs to SECU if your line of credit is paid off within 24 months of the original loan date. Closing costs generally range from $850 top $1,000 on a $20,000 line of credit.

You may pay off your HELOC using any payment channel. You can always find the payoff amount in online banking. To close your HELOC, you must call SECU or visit a branch.

Once your loan is ready to close, you will meet with a SECU branch representative at a SECU branch or with a settlement notary at your home or another location of your choosing.

Email, call, or fax the Loan Servicing department. Other departments within SECU can receive the request, but the quotes will only be issued by Loan Servicing.

If the payoff needs to go to a third party, please fax the request to 855-308-1233 or 443-517-5850, along with the member’s signature/authorization, and the following information:

  • Third party company name
  • Third party address
  • Third party phone number
  • Third party contact person (if necessary)
  • Third party fax number

Or complete the DocuSign form here.

Personal Checking FAQs

You receive a specific rate that corresponds with your Reward Level, which is determined by account activity and your account balance.

SECU may change interest rates depending on market conditions, just like we do with our other services. We’ll always offer competitive rates that make sense to you and are easy to understand.

Your Reward Level is calculated monthly based on your account activity and can be accessed by clicking on the My Rewards icon within SECU’s online and mobile banking platform.

You can find one of our thousands of free ATMs at any time using our mobile or online locator.

An overdraft is created when the Available Balance in your Checking, Share Savings, or other deposit account is not sufficient to cover a check, withdrawal, automatic transfer, electronic transaction, returned deposited item or any other electronic purchase payment, or debit. See our Agreements and Disclosures booklet for important details on your checking account balances, overdrafts, and helpful tips to avoid overdrafts.

SECU’s routing number is 255076753.

If you have online banking, you can order them right away using the “Order Checks” link under “Accounts”. If you do not have online banking, you can order checks by phone or at a branch.

Under our standard overdraft practices:
  • We will charge you an overdraft fee of $30 (in addition to payment of the overdraft) each time we pay an overdraft using Courtesy Pay.
  • There is no limit to the number of overdraft fees we can charge you for overdrawing your account.
We do not authorize and pay overdrafts for everyday debit card purchases using Courtesy Pay unless you ask us to do so.

Direct Deposit of your paycheck is usually available immediately as are cash deposits made via branch or ATM. For check deposits, it depends on your method of deposit.
Deposit Channel Funds Availability for Check Deposits
ATM $500 immediately, remainder next business day
Mobile Deposit or MyDeposit $500 immediately, remainder in 2 business days
Branch Full immediately available, subject to exception holds. Please see our Agreements & Disclosures for more information.

We do pay overdrafts for the following types of transactions:
  • Checks and other transactions made using your checking account number
  • Automatic bill payments
  • We do not authorize and pay overdrafts for ordinary debit card purchases unless you opt-in to Courtesy Pay. Our default process is that you are not opted in to Courtesy Pay. Courtesy Pay is a more expensive option that you must opt-in to in order for it to apply.
We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction. If we do not authorize and pay an overdraft, your transaction will be declined and you may be charged a fee.

You may opt in in one of two ways:
  • Online: Click the link for “Debit Card Overdraft Options” under the Checking tab within Online Banking.
  • By Phone: Call 410-487-7328 or 800-879-7328 and select the Checking option to talk to a representative.

No. You cannot use your SECU debit card to withdraw more funds at an ATM than are available in your account.

Your Checking account has two kinds of balances: the “Total” Balance – Total Balance may sometimes be referred to as current balance– and the “Available” Balance. Both can be checked when you review your account online, through mobile banking or at a branch. It is important to understand how the two balances work so that you know how much money is in your account at any given time. This section explains total and available balances and how they work.

Your Total Balance is the amount of money in your account at any given time. It reflects all deposits made to your account, even if a portion of those deposits is on hold and therefore not available to you. (See our deposit hold policy.) It also reflects only payment transactions that have actually “posted” to your account, but not transactions that have been authorized and are pending. While the term “total” may sound as though the number you see is an up-to-date display of what is in your account that you can spend, that is not always the case. Any purchases, holds, fees, other charges, or deposits made on your account that have not yet posted will not appear in your Total Balance. For example, if you have a $50 Total Balance, but you just wrote a check for $40, then your total is $50.00 but it does not reflect the pending check transaction. So at that point, you actually have $50, but you have already spent $40.

Your Available Balance is the amount of money in your account that is available to you to use without incurring an overdraft fee. The Available Balance takes into account things such as holds placed on deposits and pending transactions (such as pending debit card purchases) that you initiated and SECU has authorized but that have not yet posted to your account. For example, assume you have a Total Balance of $50 and an Available Balance of $50. If you were to use your debit card at a restaurant to buy lunch for $20, then that merchant could ask us to pre-authorize the payment. In that case, we will put a hold on your account for $20. Your Total Balance would still be $50 because this transaction has not yet posted, but your Available Balance would be $30 because you have committed to pay the restaurant $20. When the restaurant submits its bill for payment (which could be a few days later), we will post the transaction to your account and your total will be reduced by $20.

Available Balance is used to determine when your account is overdrawn. The following example illustrates how this works:

Again, assume both your Total and Available Balances are $50, and you use your debit card at a restaurant for $20. A hold is placed on your account, so your Available Balance is only $30. Your Total Balance is still $50. Before the restaurant charge is sent to us for processing, a check that you wrote for $40 clears. Because you have only $30 available (you have committed to pay the restaurant $20), your account will be overdrawn by $10, even though your Total Balance is $50. In this case, we may pay the $40 check, but you will be charged an overdraft fee of $30. That fee will be deducted from your account, further reducing the balance.

It is very important to understand that you may still overdraw your account even though the Available Balance appears to show there are sufficient funds to cover a transaction that you want to make. This is because your Available Balance may not reflect all your outstanding checks and automatic bill payments that you have authorized, or other outstanding transactions that have not been paid from your account. In the example above, the outstanding check will not be reflected in your Available Balance until it is presented to us and paid from your account.

In addition, your Available Balance may not reflect all of your debit card transactions. For example, if a merchant obtains our prior authorization but does not submit a one-time debit card transaction for payment within 48 business hours of authorization, we must release the authorization hold on the transaction. The Available Balance will not reflect this transaction once the hold has been released until the transaction has been received by us and paid from your account.

The best way to understand how much money you have, and avoid overdrafts, is to keep careful track of all your deposits, any holds, and payment transactions.

SECU’s posting order is as follows: Checks, drafts, items, and other transactions will normally be batch processed in the following order: Payroll, ACH credits, ACH debits (in the order in which we receive them), Check debits (in the order in which we receive them), Debit card debits (in the order in which we receive them).

However, we may alter the batch processing order at our discretion. The order in which we process checks, debits, and items and execute other transactions on your account may affect the total amount of overdraft fees that may be charged to your account. The items in the batch are posted in the order in which we receive them.

The amount you can withdraw depends on your withdrawal channel. In no circumstances can you withdraw more than the available balance.
Withdrawal Channel Daily Withdrawal Limits
ATM $500 or your Available Balance, whichever is less
Branch Cash: $5,000 or up to your Available Balance, whichever is less
Check: No limit up to your Available Balance

Since SECU Total ™ Checking & Rewards will become the only checking account members have on October 1, 2021 it may be better to contact a service representative with any questions regarding these products.

Personal Credit Cards FAQs

Please call SECU immediately for 24/7 support at 800-879-7328

A chip card is a standard-size plastic debit or credit card with an embedded microchip. The microchip encrypts account information to increase data security when making transactions at a chip-enabled terminal. SECU’s credit and debit cards will continue to include the magnetic stripe as well.

Simply insert your EMV debit or credit card into the card reader of an EMV terminal with the chip facing up, and leave the card inside the terminal. Follow the prompts on the terminal to enter the PIN, or to sign. When the transaction is complete, remove the debit card. Visit www.secumd.org/emv anytime for instructions on how to use your EMV card.

At merchant locations that have not yet switched to EMV-enabled terminals, the SECU EMV card still has a magnetic stripe and you can swipe the card in exactly the same way as you do today.

To Visa, PO Box 4521, Carol Stream, IL 60197-4521.

Travel Notification is located in Online Banking. After logging in, from the dashboard, click the “More” widget then the “Travel” icon. From the Travel Notifications screen you can add your SECU card, travel details, and contact information. All travel notification requests are processed by 12:00 pm Eastern, the following business day.

If you have an applicable SECU Visa Credit Card, you earn points or cash back per net dollar spent. Points can be redeemed for rewards like merchandise, gift cards and travel. To learn more and apply for a SECU credit card, visit our credit cards page.

You can redeem points for name-brand merchandise, gift cards and travel. With the SECU Visa Signature Card you can even redeem points for cash back. To find your perfect reward and redeem today, visit www.ScoreCardRewards.com.

The total number of points is listed on your monthly credit card statement. You can also log in to www.ScoreCardRewards.com.

Log in to www.ScoreCardRewards.com and browse or search for rewards. Rewards will have the points needed to redeem listed.

Log in to www.ScoreCardCashBackRewards.com and select how much cash back you would like to redeem via statement credit or direct deposit into a savings or checking account. Cash back must be redeemed in increments of $25.

The total Cash Back you’ve earned is listed on your monthly credit card statement. You can also log in to www.ScoreCardCashBackRewards.com.

You can choose to redeem your Cash Back as a statement credit to your credit card account or an electronic direct deposit into a savings or checking account.

The minimum Cash Back balance you can redeem is $25. Cash back must be redeemed in increments of $25.

Personal Home Loans FAQs

SECU offers both Conventional and FHA financing, including the following loan products:

  • Fixed Rate Mortgages, including 10, 15, 20, and 30 year mortgage
  • Adjustable Rate Mortages, including 3/1, 5/1, 7/1, and 10/1 ARMs
  • FHA Mortgages
  • 100% Financing
  • Fannie Mae HomeReady® Mortgages
  • M.D Loans –special mortgages for medical professionals
  • Jumbo Mortgages

A HELOC works a lot like a credit card. It’s a flexible line of credit secured by your home’s equity but with a “draw” period (typically the first 15 years of a HELOC) which you may access from your available balance. You can draw at any time from this balance up to your available credit limit for things like home improvement, a medical bill or a family vacation.

Interest rates on HELOCs are usually variable rates. With a SECU HELOC, you can lock in up to three fixed rate, fixed payment sub-accounts under one master line. Often the interest on a HELOC is tax deductible, although you should check with your tax advisor.

With an Adjustable Rate Mortgage, or “ARM,” your Interest rate is based on an index plus a margin. It is fixed for the initial period, such as first five years on a 5/1 ARM or the first seven years on a 7/1 ARM. The rate will then adjust each and every year thereafter. The new interest rate is based on the current index plus a margin. The rate interest is capped at 2% for each initial change, and the lifetime cap is 6% over the initial rate. Please contact us for the current index and margin.

Not at this time. However, our Home Equity Line of Credit offers you the option of locking in up to three fixed rate sub-accounts under one master line of credit. This gives you the advantages of both a fixed rate/fixed term account and a revolving home equity line.

100% financing is a mortgage product for first time buyers who have good credit but don’t have a lot of cash for a down payment or closing costs. Eligible borrowers can buy a home with a down payment of as little as 1% or $1,000 (whichever is less).

This is where you can divide up your HELOC into smaller portions which are called sub-accounts. A sub-account gives you the advantage of a fixed rate, a fixed payment, and a fixed pay off schedule. Dividing up your HELOC also makes it easier to track your money.

For example, let’s say you want to purchase an $8,000 kitchen countertop. You have a $20,000 credit limit in your HELOC and no outstanding balance. With a SECU HELOC, you can create an $8,000 sub-account and either lock in that amount at a fixed rate with fixed payments, or allow the $8,000 to remain in your variable rate outstanding balance. Either way, you’ll still have $12,000 in affordable financing that you can still access for virtually any purpose.

You will need to pay $1,000 or 1% of the loan amount, whichever is less.

$5,000.

Qualifying professionals include those with the following degrees. MD or DO, , DDS, DMD (Dr. of Dental Medicine), OD (Dr. of Optometry), DPM (Dr. of Podiatric Medicine), DO (Dr. of Osteopathy), RPH (Pharmacist) and DVM (Dr. of Veterinary Medicine)

No, but the total of your outstanding balance (including all sub-accounts and any revolving balance) may not exceed your total master credit limit.

Loan amounts are available from $500,000 to $2,000,000.

We allow up to three fixed rate sub-accounts.

Of course. One of our mortgage professionals would be happy to help you find the right mortgage. You may select a mortgage professional near you and they will be in touch with you within 24 hours.

No. SECU will calculate one master payment for each of your sub-accounts and for any revolving balance you have outstanding. This one payment will be allocated to the appropriate sub-accounts. There is no need to individually pay each account or calculate separate payments. SECU does all that for you!

Closing costs vary by location, although they are generally around 5% to 6% of your loan amount for a purchase and 3% to 4% of your loan amount for a refinance. On a refinance loan, SECU allows you to roll your closing costs into your loan amount.

The additional $200 will be applied to any outstanding balance in the revolving line unless the member requests otherwise.

A rate/term refinance is when the member pays off an existing first lien mortgage and rolls in their closing costs. A cash-out refinance request is when the member not only pays off an existing first lien, but also wants additional funds to either pay off a second lien, consumer debt, home improvement, vacation, tuition, etc.

New sub-accounts will receive the APR in effect at the time the member opens that sub-account. Rate qualification will be based on the LTV and credit score in effect at the time the member opened the HELOC. You can check our current APRs here.

A point is a fee, collected at closing, which the lender charges the member in order to obtain either a lower interest rate or a specific program. One point is equal to 1% of the loan amount.

Intro rates will not apply to HELOC sub-accounts. If a sub-account is opened during an intro rate period, the APR will be that in effect at the time the sub-account is opened.

Private Mortgage Insurance is required on all conventional loans where the member either has less than 20% equity in the property, in the case of a refinance; or less than a 20% down payment, in the case of a purchase. The lender will obtain the insurance, and the fee will be included in the member’s monthly mortgage payment. It insures the lender against the member’s default on the loan.

At present, you should call SECU or visit one of our branches.

PMI is typically required when you have a conventional mortgage and make a down payment of less than 20% of the home’s purchase price or your equity will be less than 20%.

There should be no difference in the tax deductibility of the interest on your sub-accounts vs. the interest on your HELOC revolving balance. However, you should consult with your tax advisor regarding deductibility.

With the exception of the 100% Financing Mortgage and the HomeReady Mortgage, our products typically require at least a 5% down payment from the member’s own saved funds.

HELOCs resulting from applications submitted on or after October 19, 2016 are eligible for sub-accounts, provided the account and the member are in good standing.

Yes, SECU is happy to work with our members to get them pre-qualified for a mortgage loan. Based on some personal information and your credit history, SECU will issue a pre-approval letter stating the sales price that the member would qualify up to and the loan program that would best suit them. The pre-approval letter and credit report are good for 120 days.

No, funds must be available in order to open a fixed sub-account.

No, there is no application fee. SECU requires that the appraisal fee be paid at time of processing your mortgage.

Members may set up a sub-account at any time but may use ONLY their available balance. Members cannot take outstanding balance and put it into a sub-account.

The Federal Truth-in-Lending law requires that all financial institutions disclose the APR (Annual Percentage Rate) when they advertise a rate. The APR is designed to present the actual cost of obtaining financing, by requiring that some, but not all, closing fees are included in the APR calculation. These fees in addition to the interest rate determine the estimated cost of financing over the full term of the loan.

It depends on the amount of your sub-account:

  • $5,000 to $9,999 for a term of 12 to 60 months
  • $10,000 to $14,999 for a term of 12 to 120 months
  • $15,000+ for a term of 12 to 180 months

You are eligible to lock in your interest rate at time of application or you may choose to float the rate. Once you lock the rate, the interest rate is guaranteed for 60 days. The interest rate must be locked in at least 10 business days prior to loan closing.

No. The terms are set.

There is no rate guarantee for a pre-approval loan request. You will be qualified at the current interest rate in effect at time of application.

No. Sub-accounts are fixed rate, fixed term, fixed payment accounts. Members who want to go back to a revolving balance will need to pay off one of their sub-accounts or take out a completely new HELOC.

At this time, SECU does not finance raw land.

At this time, sub-accounts are available only for new HELOCs resulting from applications submitted on or after 10/19/16.

Yes, SECU will require that an escrow account be set up at closing and 1/12th of the charges will be included in the monthly mortgage payment.

SECU renders a decision based upon information provided on the loan application. Because this decision is based upon information that has not yet been verified, it is considered a pre-approval subject to verification and/or receipt of additional information. Once all of the condition outlines in the pre-approval letter are satisfied, the loan will receive a final approval.

Each October, members that have a mortgage with an escrow account receive an Escrow Analysis statement from SECU. An Escrow Analysis is the periodic examination of escrow accounts to determine if current monthly deposits to an escrow account will provide sufficient funds to pay taxes, insurance, and other bills escrowed for when they are due.

If you have a surplus that is less than $50, we will reduce your escrow payments over the upcoming year. If you have a surplus greater than $50, we will mail you a check.

If you have a shortcoming, we will adjust the escrow portion of your payments to include 1/12 of your shortage and an increase to help cover your bills next year.

Call the Home Equity Department at 443-517-5676 or 800-879-7328.

We provide a guide online.

The LTV is the relationship between the amount of the home equity loan and the value of the real estate property being pledged as collateral. For example, if you have a home that appraises for $100,000, and you have a $50,000 first mortgage and a $25,000 second mortgage, the two loans together represent a 75% loan to value.

Not without refinancing. However, you may lock in another fixed rate term (e.g. another five years on a 5/1 ARM, another seven years on a 7/1 ARM, etc.) using our LoanFlex program. If your loan is eligible for LoanFlex, you will see a LoanFlex icon in online banking. Click on it to learn more.

No. Your monthly payments are credited towards the loan’s principal and interest.

No, at this time SECU does not offer construction loans. All properties must be fully complete prior to any loan disbursement.

You cannot increase an existing line of credit because the loan amounts are recorded in the county real estate land records. Therefore, you would need to reapply to increase your existing line of credit to match the loan amounts to the recorded lien amounts.

SECU may be able to help. Please contact us at 410-487-7328 or 800-879-7328.

We also offer members financial counseling through Accel.

SECU pays all closing costs on owner occupied and second home loans up to $300,000. For all loan requests over $300,000 and on Investment/rental properties, the member will need to pay at closing and this can be done directly from the initial withdraw. For loans where SECU does pay the closing costs, you must reimburse those costs to SECU if your line of credit is paid off within 24 months of the original loan date. Closing costs generally range from $850 top $1,000 on a $20,000 line of credit.

You may pay off your HELOC using any payment channel. You can always find the payoff amount in online banking. To close your HELOC, you must call SECU or visit a branch.

Once your loan is ready to close, you will meet with a SECU branch representative at a SECU branch or with a settlement notary at your home or another location of your choosing.

Email, call, or fax the Loan Servicing department. Other departments within SECU can receive the request, but the quotes will only be issued by Loan Servicing.

If the payoff needs to go to a third party, please fax the request to 855-308-1233 or 443-517-5850, along with the member’s signature/authorization, and the following information:

  • Third party company name
  • Third party address
  • Third party phone number
  • Third party contact person (if necessary)
  • Third party fax number

Or complete the DocuSign form here.

Personal Insuring FAQs

Personal Loans FAQs

Personal Savings FAQs

Personal Student Loans FAQs