Nonprofit · EIN 56-0475645
STATE CHARTERED CREDIT UNIONS INC
Also known as STATE EMPLOYEES CREDIT UNION
Tax-exempt · RALEIGH, NC 27603
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $2,922,921,560 | $2,645,445,120 | $277,476,440 | $56,111,610,046 | $50,879,453,316 | $5,232,156,730 |
| June 30, 2024 | 990 | $2,616,980,178 | $2,414,379,999 | $202,600,179 | $56,444,772,890 | $51,828,558,885 | $4,616,214,005 |
| June 30, 2023 | 990 | $2,176,491,752 | $1,593,476,956 | $583,014,796 | $49,625,413,489 | $45,572,981,504 | $4,052,431,985 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $2,385,786,215
- Investment income
- $539,275,710
- Net rental income
- -$2,140,365
- Net gain from sales of assets
- -$31,434,303
- Other revenue
- -$2,140,365
Expenses
- Grants and similar amounts paid
- $377,712
- Benefits paid to members
- $1,132,019,473
- Compensation of officers, directors and key employees
- $7,248,112
- Other salaries and wages
- $595,312,036
- Salaries, compensation and benefits (total)
- $783,694,889
- Professional fundraising fees
- $0
- Legal fees
- $1,061,253
- Accounting fees
- $7,507
- Occupancy
- $62,117,982
- Travel
- $7,086,285
- Depreciation
- $62,919,937
Balance sheet and other
- Total assets, start of year
- $56,444,772,890
- Total assets, end of year
- $56,111,610,046
- Total liabilities, end of year
- $50,879,453,316
- Net assets, end of year
- $5,232,156,730
- Land, buildings and equipment
- $970,745,601
- Publicly traded securities
- $12,819,276,532
- Gross unrelated business income
- $100,142,866
- Gross receipts
- $3,508,950,977
- Employees
- 9,217
- Volunteers
- 2,968
- Year formed
- 1937
- State of legal domicile
- NC
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| LEIGH BRADY | PRESIDENT Officer | 40 | $1,166,503 | $64,406 |
| REX SPIVEY | CHIEF FINANCIAL OFFICER Officer | 40 | $600,433 | $48,653 |
| JOSHUA BOMBA | CITO (LEFT 12/13/24) Officer | 40 | $539,659 | $60,141 |
| JARED BENESH | EVP - MEMBER EXPERIENCE Key employee | 40 | $535,802 | $58,613 |
| STACIE WALKER | CHIEF LENDING OFFICER Key employee | 40 | $507,394 | $68,149 |
| SARA TREXLER | CHIEF ADMINISTRATIVE OFFICER Officer | 40 | $472,678 | $62,586 |
| JENNIFER HAMRICK | CHIEF OPERATIONS DIRECTOR Officer | 40 | $476,312 | $55,685 |
| JOHN SYKES | EVP - DEPUTY CHIEF FINANCIAL OFFICER Highest-paid employee | 40 | $432,644 | $58,101 |
| CATHY PLAUT | CHIEF LEGAL OFFICER - GENERAL COUNSEL Officer | 40 | $425,099 | $60,021 |
| JAMIE APPLEQUIST | EVP - CHIEF PROPERTY OFFICER Officer | 40 | $411,712 | $57,024 |
| WILLIAM DEANS | EVP - DIRECTOR OF IT OPERATIONS Key employee | 40 | $359,912 | $45,429 |
| CARL SEABROOK | CHIEF AUDIT AND REGULATORY Officer | 40 | $343,493 | $58,419 |
| ANGELA ROSE | EVP DIRECTOR EPMO & IT FINANCE Highest-paid employee | 40 | $310,405 | $88,541 |
| EMMA HAYES | CHIEF LEARNING & EXPERIENCE Highest-paid employee | 40 | $347,312 | $45,030 |
| JONATHAN DALLAIRE | EVP DIRECTOR CHIEF SECURITY OFFICER Highest-paid employee | 40 | $333,744 | $58,423 |
15 more people on this return
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| DAVID BRUINGTON | ASSOCIATE EVP - REAL ESTATE LENDING Highest-paid employee | 40 | $329,979 | $57,080 |
| JONATHAN COBURN | EVP LOAN ORGIN. & SYSTEM OPERATIONS Key employee | 40 | $318,196 | $44,646 |
| SPENCER SCARBORO | EVP LOAN RISK & SERVICING OPERATIONS Key employee | 40 | $306,190 | $54,643 |
| SARAH THOMPSON | CHIEF RISK OFFICER Officer | 40 | $300,713 | $41,695 |
| MICHAEL CLEMENTS | DIRECTOR Trustee or director | 5 | $9,573 | $0 |
| MARK FLEMING | DIRECTOR Trustee or director | 5 | $729 | $0 |
| MONA MOON | CHAIR Trustee or director, Officer | 5 | $0 | $0 |
| STELFANIE WILLIAMS | VICE CHAIR Trustee or director, Officer | 5 | $0 | $0 |
| JENNIFER HAYGOOD | SECRETARY/TREASURER Trustee or director, Officer | 5 | $0 | $0 |
| CHRIS AYERS | DIRECTOR Trustee or director | 5 | $0 | $0 |
| BOB BRINSON | DIRECTOR Trustee or director | 5 | $0 | $0 |
| BEN MCLAWHORN | DIRECTOR Trustee or director | 5 | $0 | $0 |
| BARBARA PERKINS | DIRECTOR Trustee or director | 5 | $0 | $0 |
| CHUCK STONE | DIRECTOR Trustee or director | 5 | $0 | $0 |
| MCKINLEY WOOTEN JR | DIRECTOR Trustee or director | 5 | $0 | $0 |
990 for the year ended June 30, 2024: 34 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JAMES HAYES | PRESIDENT (THRU 7/21/23) Officer | 40 | $1,166,700 | $47,225 |
| LEIGH BRADY | PRESIDENT Officer | 40 | $973,775 | $120,505 |
| REX SPIVEY | CHIEF FINANCIAL OFFICER Officer | 40 | $641,501 | $81,103 |
| STACIE WALKER | CHIEF LENDING OFFICER Officer | 40 | $528,063 | $101,170 |
| BRIDGET WELBORN | CHIEF RISK OFFICER (THRU 12/6/23) Officer | 40 | $524,095 | $69,926 |
| JOSHUA BOMBA | CHIEF INFORMATION TECHNOLOGY OFFICER Officer | 40 | $465,708 | $102,936 |
| JENNIFER HAMRICK | CHIEF OPERATIONS DIRECTOR Key employee | 40 | $452,100 | $76,392 |
| SARA TREXLER | CHIEF ADMINISTRATIVE OFFICER Officer | 40 | $439,922 | $81,114 |
| JARED BENESH | EVP - MEMBER EXPERIENCE Highest-paid employee | 40 | $422,601 | $66,931 |
| JOHN SYKES | EVP - DEPUTY CHIEF FINANCIAL OFFICER Key employee | 40 | $412,443 | $75,503 |
| JAMIE APPLEQUIST | EVP - CHIEF PROPERTY OFFICER Key employee | 40 | $405,532 | $76,088 |
| DAMIAN CARTER | REGIONAL SVP (THRU 12/4/23) Highest-paid employee | 40 | $406,123 | $51,742 |
| WILLIAM DEANS | EVP - DIRECTOR OF IT OPERATIONS Highest-paid employee | 40 | $384,919 | $69,982 |
| JONATHAN DALLAIRE | EVP DIRECTOR CHIEF SECURITY OFFICER Highest-paid employee | 40 | $311,750 | $95,915 |
| EMMA HAYES | CHIEF LEARNING & EXPERIENCE Officer | 40 | $335,444 | $54,152 |
| JONATHAN COBURN | EVP LOAN ORGINATIONS & SYSTEMS OPERATIONS Highest-paid employee | 40 | $326,966 | $60,769 |
| CATHY PLAUT | CHIEF LEGAL OFFICER - GENERAL COUNSEL Key employee | 40 | $314,909 | $65,926 |
| SPENCER SCARBORO | EVP LOAN RISK & SERVICING OPERATIONS Key employee | 40 | $310,184 | $67,805 |
| CARL SEABROOK | CHIEF AUDIT AND REGULATORY Officer | 40 | $327,484 | $44,111 |
| SARAH THOMPSON | CHIEF RISK OFFICER Officer | 40 | $165,240 | $40,154 |
| MARK FLEMING | DIRECTOR Trustee or director | 5 | $2,320 | $0 |
| THOMAS PARRISH IV | DIRECTOR (THRU 10/10/23) Trustee or director | 5 | $1,496 | $0 |
| MCKINLEY WOOTEN | DIRECTOR Trustee or director | 5 | $1,455 | $0 |
| MONA MOON | CHAIRMAN Trustee or director, Officer | 5 | $0 | $0 |
| STELFANIE WILLIAMS | VICE CHAIR Trustee or director, Officer | 5 | $0 | $0 |
| ALICE GARLAND | VICE CHAIR (THRU 10/10/23) Trustee or director, Officer | 5 | $0 | $0 |
| JENNIFER HAYGOOD | SECRETARY/TREASURER Trustee or director, Officer | 5 | $0 | $0 |
| BARBARA PERKINS | DIRECTOR (START 10/10/23) Trustee or director | 5 | $0 | $0 |
| BEN MCLAWHORN | DIRECTOR Trustee or director | 5 | $0 | $0 |
| BOB BRINSON | DIRECTOR Trustee or director | 5 | $0 | $0 |
| CHRIS AYERS | DIRECTOR Trustee or director | 5 | $0 | $0 |
| CHUCK STONE | DIRECTOR (START 10/10/23) Trustee or director | 5 | $0 | $0 |
| JO ANNE SANFORD | DIRECTOR (THRU 10/10/23) Trustee or director | 5 | $0 | $0 |
| MICHAEL CLEMENTS | DIRECTOR (START 10/10/23) Trustee or director | 5 | $0 | $0 |
990 for the year ended June 30, 2023: 31 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JAMES HAYES | PRESIDENT Officer | 40 | $1,214,451 | $57,003 |
| JERRY HARMON | CHIEF LENDING OFFICER (THRU 9/6/22) Officer | 40 | $639,890 | $39,873 |
| REX SPIVEY | CHIEF FINANCIAL OFFICER Officer | 40 | $573,050 | $43,335 |
| LEIGH BRADY | CHIEF OPERATIONS OFFICER Officer | 40 | $548,052 | $55,828 |
| JOSHUA BOMBA | CHIEF INFORMATION TECHNOLOGY OFFICER Officer | 40 | $448,547 | $49,683 |
| JENNIFER HAMRICK | EVP-DEPUTY CHIEF OPERATIONS OFFICER Key employee | 40 | $433,763 | $48,424 |
| SARA TREXLER | CHIEF LEGAL OFFICER Officer | 40 | $421,485 | $53,658 |
| JAMIE APPLEQUIST | EVP - CHIEF PROPERTY OFFICER Key employee | 40 | $383,197 | $53,817 |
| WILLIAM DEANS | EVP - DIRECTOR OF IT OPERATIONS Highest-paid employee | 40 | $373,501 | $50,212 |
| WARREN PEACOCK | EVP-BRANCH OPERATIONS (THRU 10/12/22) Key employee | 40 | $383,888 | $38,720 |
| JARED BENESH | EVP - MEMBER EXPERIENCE Highest-paid employee | 40 | $387,080 | $26,145 |
| STACIE WALKER | CHIEF LENDING OFFICER Officer | 40 | $316,652 | $61,762 |
| BRIDGET WELBORN | CHIEF RISK OFFICER Officer | 40 | $337,934 | $37,721 |
| ROBERT NICHOLS | CHIEF AUDIT OFFICER (THRU 01/20/23) Key employee | 40 | $293,343 | $69,352 |
| THOMAS MARION | REGIONAL SVP Highest-paid employee | 40 | $290,455 | $43,643 |
| DAMIAN CARTER | REGIONAL SVP (THRU 12/04/23) Highest-paid employee | 40 | $278,330 | $41,624 |
| KEVIN MACK | REGIONAL SVP Highest-paid employee | 40 | $252,387 | $44,695 |
| CARL SEABROOK | CHIEF AUDIT AND REGULATORY OFFICER Officer | 40 | $257,639 | $29,159 |
| EMMA HAYES | CHIEF LEARNING & EXPERIENCE OFFICER Officer | 40 | $250,361 | $27,571 |
| ALICE GARLAND | VICE CHAIR Trustee or director, Officer | 5 | $5,172 | $0 |
| MARK FLEMING | DIRECTOR Trustee or director | 5 | $3,711 | $0 |
| STELFANIE WILLIAMS | DIRECTOR Trustee or director | 5 | $850 | $0 |
| THOMAS PARRISH IV | DIRECTOR Trustee or director | 5 | $828 | $0 |
| MCKINLEY WOOTEN | DIRECTOR Trustee or director | 5 | $709 | $0 |
| CHRIS AYERS | CHAIRMAN Trustee or director, Officer | 5 | $0 | $0 |
| MONA MOON | SECRETARY/ TREASURER Trustee or director, Officer | 5 | $0 | $0 |
| JO ANNE SANFORD | DIRECTOR Trustee or director | 5 | $0 | $0 |
| KARAN BUNN | DIRECTOR (THRU 10/01/2022) Trustee or director | 5 | $0 | $0 |
| JENNIFER HAYGOOD | DIRECTOR Trustee or director | 5 | $0 | $0 |
| BOB BRINSON | DIRECTOR Trustee or director | 5 | $0 | $0 |
| BEN MCLAWHORN | DIRECTOR Trustee or director | 5 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 119 N SALISBURY ST FLOOR 10, RALEIGH, NC 27603-1739
- In care of
- % LEIGH BRADY
- Mailing address (990-N for 2024)
- 2944 Spencer Street, Lenoir NC 28645
- Principal officer (990 for 2024)
- LEIGH BRADY, 119 N SALISBURY STREET FL 10, RALEIGH, NC 27603
- Principal officer (990-N for 2024)
- Gretchen Griffith, 2944 Spencer Street, Lenoir NC 28645
- Signed the 990
- JOHN SYKES, CHIEF FINANCIAL OFFICER
- Phone
- (919) 839-5000
- Website
- WWW.NCSECU.ORG
- Return prepared by
- CLIFTONLARSONALLEN LLP
Mission
TO BE THE TRUSTED PROVIDER OF FINANCIAL SERVICES TO EVERY ELIGIBLE MEMBER AND TO ENHANCE THE QUALITY OF THEIR LIVES AND FINANCIAL WELL-BEING WHILE MAINTAINING OUR FISCAL STRENGTH.
Program accomplishments
- THE STATE EMPLOYEES' CREDIT UNION IS OWNED BY OUR 2.9 MILLION MEMBERS. SECU PROVIDES SERVICES TO OUR MEMBERS THROUGH 276 BRANCH OFFICES, 1076 ATMS, 24/7 CONTACT CENTERS, AND A WEBSITE - WWW.NCSECU.ORG. AS A CREDIT UNION, MEMBERS DEPOSIT FUNDS INTO SHARE ACCOUNTS, WHICH ARE THEN LOANED TO OTHER MEMBERS. THE CREDIT UNION OFFERS SHARE ACCOUNTS OF VARIOUS TYPES - MEMBERSHIP SHARES, SHARE DRAFTS, MONEY MARKET SHARES, IRA SHARES, AND SHARE TERM CERTIFICATES. LOANS TO MEMBERS CONSISTS OF MORTGAGES, HOME EQUITY, AUTO AND OTHER CONSUMER LOANS. AT JUNE 30, 2025, THERE WERE APPROXIMATELY 617,000 PERSONAL LOANS AND APPROXIMATELY 234,000 FIRST AND SECOND MORTGAGE LOANS OUTSTANDING. THE CREDIT UNION RECEIVED $2,923,081,432 IN REVENUES FROM INTEREST ON LOANS, INTEREST ON INVESTMENTS, AND OTHER NON-INTEREST SOURCES DURING THE YEAR ENDED JUNE 30, 2025. THE COST OF PROVIDING SERVICES TO CREDIT UNION MEMBERS WAS $2,645,445,120 FOR THE YEAR. THE COST OF SERVICES CONSISTS OF INTEREST PAID ON SHARE ACCOUNTS, SALARIES, BUILDING EXPENSES, EQUIPMENT EXPENSES, AND OTHER OPERATIONAL EXPENSES.
What it must file and when
IRS records say it files Form 990-N (e-Postcard). Gross receipts normally $50,000 or less. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990-N on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 56-0475645
- Tax-exempt status
- 501(c)(14): State-chartered credit union
- Donations deductible
- No
- Exempt since
- 1969
- Accounting year ends
- June
- Files
- Form 990-N (e-Postcard)
- Group exemption
- 2032: STATE CHARTERED CREDIT UNIONS IN NORTH CAROLINA
- Assets (IRS master file)
- $8,999,999,991
- Income (IRS master file)
- $3,508,950,977
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-N for 2024 Officer: Gretchen Griffith | June 30, 2025 | ≤ $50,000 receipts | – | – | e-Postcard |
| 990 | June 2025 | $2,922,921,560 | $2,645,445,120 | $56,111,610,046 | IRS |
| 990 | June 2024 | $2,616,980,178 | $2,414,379,999 | $56,444,772,890 | IRS |
| 990 | June 2023 | $2,176,491,752 | $1,593,476,956 | $49,625,413,489 | XML |
| 990 | June 2022 | $1,663,323,190 | $1,107,033,903 | $53,195,296,849 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990-N for 2018 Officer: Debra Davenport | June 30, 2019 | ≤ $50,000 receipts | – | – | e-Postcard |
| 990 | June 2019 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 56-0475645).
Questions about STATE CHARTERED CREDIT UNIONS INC
- What is the EIN of STATE CHARTERED CREDIT UNIONS INC?
- The employer identification number (EIN) of STATE CHARTERED CREDIT UNIONS INC is 56-0475645.
- Is STATE CHARTERED CREDIT UNIONS INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1969.
- Are donations to STATE CHARTERED CREDIT UNIONS INC tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does STATE CHARTERED CREDIT UNIONS INC file?
- Form 990-N (e-Postcard). Gross receipts normally $50,000 or less.
- When is the next return of STATE CHARTERED CREDIT UNIONS INC due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did STATE CHARTERED CREDIT UNIONS INC last file with the IRS?
- The latest return in the IRS public files is the 990-N for 2024 for the year ended June 30, 2025.
- Who is the principal officer of STATE CHARTERED CREDIT UNIONS INC?
- The 990 for the year ended June 30, 2025 names LEIGH BRADY.
- Who are the officers and directors of STATE CHARTERED CREDIT UNIONS INC?
- The 990 for the year ended June 30, 2025 lists 30 people; 21 received compensation from the organization, the highest $1,166,503 (LEIGH BRADY, PRESIDENT).
- How much revenue does STATE CHARTERED CREDIT UNIONS INC have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $2,922,921,560, expenses of $2,645,445,120 and total assets of $56,111,610,046 at year end.
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