BALTIMORE (May 11, 2022) — SECU, Maryland’s largest state-chartered credit union, announced today it surpassed more than $5 billion in assets, a milestone that is unsurpassed by any other credit union in the state. SECU ranks among the top 60 credit unions nationwide and is the largest credit union in Maryland based on total assets.
In reaching this milestone, SECU and the SECU MD Foundation will commit $1,000,000 in community impact grants over the next five years in memory of its longest-serving Board member, Donald Tynes, Sr. This notes the largest sum and first commitment named in honor of a notable individual by SECU.
SECU will spend the next several months discerning how and where to allocate funds where they are most needed and can make the largest impact in Maryland. More immediately, SECU will donate $50 on behalf of each of its 358 employees to the SECU MD Foundation, which supports education, health and community development initiatives throughout Maryland. These funds will benefit Maryland nonprofits devoting their time to helping others and will be awarded this summer through the Foundation’s grant program.
“The achievement of this milestone reflects our ability to best support the growth and financial stability of our members and communities,” said Dave Sweiderk, president and CEO of SECU. “It positions us to continue to serve our members in impactful ways while carefully monitoring and anticipating future needs. What better way to commemorate $5 billion in assets and serve communities across Maryland than to offer a living embodiment of the life and service of Donald, who served 47 dedicated years on our Board of Directors, and who was incredibly passionate about leaving our communities better than how we found them.”
As part of its community impact efforts in 2021, the SECU MD Foundation awarded $115,000 in scholarships, totaling more than $815,000 since the program’s inception, gave away more than $120,000 to local nonprofits and charity partners, including Kennedy Krieger Institute and Special Olympics Maryland, and inspired 96,000 acts of kindness through its annual Kindness Connects campaign.
“An elite distinction, this milestone is indicative of the innovative, forward-thinking, next generation leadership of Dave,” said Jauncho Baino, chair of SECU’s Board of Directors. “Through his efforts and the commitment of SECU team members, SECU is propelling forward as a high-performance organization that is redefining the credit union experience. However, by accomplishing this milestone, we’re honored to celebrate it in such a way that enables us to pay homage to Donald’s legacy of service, volunteerism and leadership.”
Serving more than 250,000 members across Maryland, and headquartered in Linthicum, Md., SECU has 25 financial centers and provides access to over 50,000 free ATMs through the CO-OP network. To learn more about SECU, visit secumd.org.