BALTIMORE (January 8, 2024) – SECU, Maryland’s largest state-chartered credit union, has been named to Newsweek’s 2024 list of America’s Best Regional Banks and Credit Unions, one of only four credit unions based in the state to receive the prestigious honor. The list of financial institutions was selected by Newsweek and market data research firm Plant-A Insights Group after a comprehensive study analyzing all regional banks and credit unions in the United States.
Based on the analysis of 9,440 institutions, researchers applied parameters to assess profitability, bank creditworthiness, financial relevance, risk, and overall financial wellness of each institution. The analysis and scoring model also evaluated press coverage, independent customer surveys, and reviews from social media.
“We are thrilled SECU has been named to the list of America’s Best Regional Banks and Credit Unions. Credit unions play a vital role in their communities,” said David Sweiderk, SECU President and CEO. “Our unique structure allows us to operate a member-first, employee-focused and community-centric organization. We are proud to provide beneficial financial products and solutions at the optimal value to our members across the state of Maryland– all while giving back to the communities we serve through our longstanding nonprofit partners and financial wellness programming.”
Newsweek’s Global Editor-in-Chief, Nancy Cooper explains, “In an era where digital advancements can overshadow personalized service, regional banks and credit unions stand out for their customer-centric financial services. These institutions prove that a community-centered approach can redefine the banking experience.”
SECU received a Future Branches Innovator Award in 2023 for the implementation of digital-first technologies and rollout of Virtual Financial Centers, a virtual branch created to provide credit union members with extended service hours and the ability to discuss loans, products, and more with SECU financial experts from the comfort of their own home. The credit union has also been recognized with The Baltimore Sun’s Top Workplace Award in 2020, 2021, and 2022.
