SLB Employees Credit Union (SECU) is a not-for-profit, member-owned financial cooperative headquartered in Sugar Land, Texas, serving SLB (formerly Schlumberger) employees and their families. Established in 1946, SECU offers a full range of banking services—including mortgages—tailored to the needs of its members, both in the U.S. and for SLB expats abroad
See today’s mortgage interest rates on TrueRate.
How SLB Employees Credit Union compares to other lenders
| Headquarters | Sugar Land, Texas |
| Website | https://www.secutx.com/ |
| Rate | 0.23% less than the median rate |
| Lender fees | $1,550 (median) |
| Savings after 1 year, compared to the median interest rate | $1,103 |
| Savings after 10 years, compared to the median interest rate | $7,678 |
| Added cost after 1 year (vs. Tomo Mortgage) | $1,475 |
| Added cost after 10 years (vs. Tomo Mortgage) | $3,506 |
For a $400,000 mortgage, SLB Employees Credit Union’s rates and lender fees will likely result in savings of around $1,100 in the first year and $7,678 after 10 years compared to the median lender. Borrowers should rate shop and compare SLB Employee’s Credit Union to lower cost lenders such as Tomo Mortgage to see if greater savings can be achieved.
What customers are saying
SLB Employees Credit Union’s mortgage and lending services receive mixed but predominantly negative sentiment on third-party review platforms, particularly Yelp. While some long-term members recall easy loan resolutions and satisfactory experiences with paying off loans, most recent reviews highlight significant problems. Borrowers report poor customer service, lack of support when facing financial emergencies, and frustration with technology limitations that complicate loan management and payments. Issues with inattentive staff and inadequate support—especially through shared branches—are also noted.
Overall, third-party commentary on SLB Employees Credit Union’s mortgage and lending services points to ongoing concerns about service quality, responsiveness, and technology.
How to compare mortgage lenders
Interest rates. Comparing rates between lenders isn’t always straightforward. Many promote low headline rates that require paying “points” upfront to buy down the interest rate. To make a true comparison, focus on the par rate (0 points) and the APR, which reflects both the interest rate and any lender fees. Even small differences can translate into significant savings over the life of the loan.
Lender fees or loan origination fees. Many lenders charge fees that add thousands to the cost of a loan. It’s important to look at both the rate and the fees together to understand the true cost of borrowing. For a $400,000 mortgage, avoiding even a $1,000 fee could contribute to meaningful savings in the first year and over the long term.
On-time close rate. Most lenders do not publicly share their on-time close rates. However, it’s a critical factor—especially if your home contract has tight deadlines. Asking about their process for meeting close dates, including underwriting and document review timelines, can give you more confidence when choosing a lender.
Pre-approval and offer letters. Some lenders offer fast pre-qualifications that may not be fully underwritten, which can weaken your offer in competitive markets. It’s important to ask whether a lender’s pre-approvals are fully underwritten and how credible their letters are when presented with an offer.
Customer satisfaction. If detailed customer review data isn’t readily available, check third-party review sites or ask the lender for references. It’s important to understand how they handle communication, responsiveness, and issue resolution throughout the loan process.
Employee reviews. Company culture often influences how clients are treated. A lender with strong employee satisfaction typically delivers better service, more organized processing, and a smoother overall experience for borrowers.
To better understand how we compare mortgage rates fairly, see our TrueRate Methodology.
If you’re ready to start your journey to homeownership, get pre-approved with Tomo Mortgage today.