FAQs

SECU MD Foundation Frequently Asked Questions

Why did SECU start a Foundation?


SECU has a long history of giving back to the communities we serve through events such as the Maryland Scholarship Program, financial wellness programs, and Reality Fairs. To help grow those programs and build resources for other charitable initiatives, SECU launched the SECU MD Foundation, which is a 501(c)(3) tax-exempt organization.

 

The SECU MD Foundation’s mission is to contribute to and support the continuous learning and educational needs of those we serve.

How do I find out more about the Foundation?

You can learn more at the SECU MD Foundation website, www.secumdfoundation.org, You can also send an email to secumdfoundation@secumd.com if you have additional questions about the Foundation. Emails will be answered within two business days. 

When was the Foundation officially launched?

The SECU MD Foundation officially launched in January 2018.

How can I donate?

Anyone can donate to the SECU MD Foundation; online via the SECU MD Foundation website, in person at any SECU branch, or by mailing a check (payable to: SECU MD Foundation) to SECU MD Foundation Inc., PO Box 557, Linthicum Heights, MD 21090-9998.

What if someone wants to become a SECU member via the Foundation?

People can join SECU if they meet our standard membership criteria. Should someone not qualify for SECU membership via these standard criteria, they may become a SECU member with a $10 minimum donation to the SECU MD Foundation and also deposit $10 into a SECU Share Savings Account. Currently, this method of becoming a SECU member is possible at all SECU Branches.

What is it costing SECU to run the Foundation?

As a non-profit organization, the Foundation operates on donations and investments from donors, including SECU. SECU includes this investment in our annual operating budget to continue the great work we have done for these charitable community programs and activities over many years prior to forming the Foundation.

What scholarships are offered?

The SECU MD Foundation administers the following:

  • The Maryland Scholarship Program, which benefits prospective students planning to attend and current students enrolled in one of the colleges in the University System of Maryland.
  • The Donald Tynes, Sr. Scholarship, which benefits non-freshmen students attending Morgan State University's Graves School of Business.
  • The State Employee Scholarship Program, which benefits State employees and their families.

When are scholarships offered?

All Scholarship programs launch in the first quarter of each year. Visit the SECU MD Foundation website for details about scholarships and the application process

What other good causes does the Foundation support?

 

In addition to scholarships, the SECU MD Foundation supports Reality Fairs, which are financial awareness events designed to give students first-hand experience in managing their money and making smart, informed financial decisions that will help them once they graduate from high school and go on to college or jobs in the real world.

 

The Foundation also runs the annual Golf Tournament fundraiser. Proceeds from that event support the Scholarship programs.

 

As the Foundation grows, we will be able to support more worthy causes like these in our communities.

What is the difference between SECU membership and Foundation membership?

SECU membership provides access to a full range of competitive financial products and services, which includes lower loan rates, higher deposit rates, lower/fewer fees, and true customer service.

Foundation membership (via donation to the Foundation) provides the opportunity to support an important and worthy cause and to make a difference in the lives of people in our communities.

Is the Foundation hiring?

At this time, SECU employees are donating their time during regular business hours to support the Foundation. The Foundation does not have paid employees.  

What fundraisers is the Foundation running?

The SECU MD Foundation will run the annual Golf Tournament. Other fundraisers will be added in the future as the Foundation grows.

How do I contact the Foundation?

You can contact the SECU MD Foundation through email at secumdfoundation@secumd.com.

Why no phone number for the Foundation?

The Foundation is currently staffed by SECU volunteers, therefore we don’t have a full-time staffed phone line. If you send an email to secumdfoundation@secumd.com, someone will contact you within two business days.

How do I get a copy of my original donation receipt?

SECU members who previously donated can go into a SECU branch to get a receipt for their donation, or donors can email the Foundation at secumdfoundation@secumd.com mailbox for a receipt. 

Why do I see a “FOUNDATION DONATION” transaction on my SECU account?

When members donate at a SECU Branch, the amount of the donation will be deducted from their account with this transaction description: FOUNDATION DONATION.

What is the minimum that can be donated?

At this time, there is no minimum (or maximum) donation amount. However, people who do not otherwise qualify for SECU membership can donate a minimum of $10 to the Foundation and be eligible to join SECU with the required $10 deposit into a share savings account. Currently, this method of becoming a SECU member is possible at all SECU Branches.

What is the EIN and address for the SECU MD Foundation?

Foundation mailing address:
SECU MD Foundation Inc.
PO Box 557
Linthicum Heights, MD 21090-9998

Foundation email address:
secumdfoundation@secumd.com

Foundation Web address:
www.secumdfoundation.org

Foundation EIN #: 82-1896987

What is the refund/cancellation policy for my donation?

While refunds are not provided, to modify future donations, please email secumdfoundation@secumd.com

 

 

 

 

 

 

 

 

The SECU MD Foundation is a separate, independent legal entity managed by a Board of Directors.  The SECU MD Foundation is a 501(c)(3) tax-exempt organization. Consult a tax professional regarding the tax deductibility of your donation.

 

SECU MD Foundation, Inc. EIN - 82-1896987