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Nonprofit · EIN 56-2180770

STATE CHARTERED CREDIT UNIONS IN NORTH CAROLINA

Also known as LATINO COMMUNITY CREDIT UNION

Tax-exempt · DURHAM, NC 27701

Financials

$73.4M$52.6M2023$82.5M$70.6M2024
Revenue Expenses · by fiscal year end
Financials of STATE CHARTERED CREDIT UNIONS IN NORTH CAROLINA by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$82,531,419$70,582,981$11,948,438$1,053,161,674$911,787,474$141,374,200
December 31, 2023990$73,382,404$52,597,358$20,785,046$1,031,841,907$902,416,145$129,425,762
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$5,000,000
Program service revenue
$71,103,339
Investment income
$6,428,080
Other revenue
$0

Expenses

Grants and similar amounts paid
$142,500
Compensation of officers, directors and key employees
$2,096,634
Other salaries and wages
$14,414,193
Salaries, compensation and benefits (total)
$22,032,501
Professional fundraising fees
$0
Legal fees
$76,275
Accounting fees
$30,500
Occupancy
$3,613,498
Travel
$398,574
Depreciation
$1,332,631

Balance sheet and other

Total assets, start of year
$1,031,841,907
Total assets, end of year
$1,053,161,674
Total liabilities, end of year
$911,787,474
Net assets, end of year
$141,374,200
Land, buildings and equipment
$22,705,412
Publicly traded securities
$9,998,503
Gross receipts
$82,531,419
Employees
405
Volunteers
13
Year formed
2000
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 December 31, 2024, highest compensation first.

NameTitleHours / weekCompensationOther / benefits
MARIA VICTORIA GARCIACEO
Officer
40$436,658$27,831
RODRIGO INIGUEZCHIEF FINANCIAL OFFICER
Officer
40$264,876$29,475
TERRY PHELPSCHIEF OPERATIONS OFFICER
Key employee
40$248,078$10,623
IRVING BUSTILLOCHIEF LENDING OFFICER
Key employee
40$192,268$28,578
EDGAR OMAR LOPEZCHIEF PEOPLE OFFICER
Key employee
40$199,200$19,180
ROGER MONTESCHIEF RETAIL OFFICER
Key employee
40$192,072$25,995
ALISON YONASCHIEF DEVELOPMENT & IMPACT
Key employee
40$199,200$11,940
STEVE HERRELLCHIEF RISK OFFICER
Key employee
40$198,290$12,370
JAMES WADDELLVP, INFORMATION TECHNOLOGY
Highest-paid employee
40$181,229$25,774
ETNA CLAROVP, FACILITIES
Highest-paid employee
40$127,375$20,699
SORAYA VERONICA CORDOVAVP, CONSUMER LENDING
Highest-paid employee
40$124,877$23,157
CAMILO MONCAYOVP DEPOSITS & OPERATIONS
Highest-paid employee
40$129,793$15,158
GABRIEL TREVES-KAGANVP, DEVELOPMENT
Highest-paid employee
40$129,789$7,990
MARIA SCANGABOARD CHAIR
Trustee or director
5$0$0
DAVID BREHMERBOARD VICE CHAIR
Trustee or director
5$0$0
5 more people on this return
NameTitleHours / weekCompensation
FARAD ALIBOARD SECRETARY
Trustee or director
1$0
LORENA PATTERSONBOARD DIRECTOR
Trustee or director
1$0
ERIKA BELLBOARD DIRECTOR
Trustee or director
1$0
JERRY HARMONBOARD DIRECTOR
Trustee or director
1$0
JORGE ARCHILABOARD TREASURER
Trustee or director
2$0
990 for the year ended December 31, 2023: 19 people
NameTitleHours / weekCompensationOther / benefits
LUIS PASTORCEO
Officer
40$447,346$17,195
MARIA VICTORIA GARCIACEO
Officer
40$291,013$24,618
IRVING BUSTILLOCHIEF LENDING OFFICER
Key employee
40$170,447$28,512
ALISON YONASCHIEF DEVELOPMENT & IMPACT OFFICER
Key employee
40$187,117$10,675
ROGER MONTESCHIEF RETAIL OFFICER
Key employee
40$177,267$19,807
STEVE HERRELLCHIEF RISK OFFICER
Key employee
40$179,336$11,664
TERRY PHELPSCHIEF OPERATIONS OFFICER
Key employee
40$173,479$5,333
CAMILO MONCAYOVP DEPOSITS & OPERATIONS
Highest-paid employee
40$109,919$13,895
TIMOTHY BROPHYVP ACCOUNTING
Highest-paid employee
40$103,030$20,124
HERNAN SEDDAVP TRIAD REGION
Highest-paid employee
40$100,552$16,292
AGUSTIN SANCHEZVP TRIANGLE REGION
Highest-paid employee
40$100,594$13,560
RODRIGO INIGUEZCHIEF FINANCIAL OFFICER
Officer
40$46,114$0
DAVID BREHMERBOARD CHAIR
Trustee or director
5$0$0
LORENA PATTERSONBOARD VICE CHAIR
Trustee or director
1$0$0
MARIA SCANGABOARD TREASURER & ASST. SECRETARY
Trustee or director
2$0$0
FARAD ALIBOARD SECRETARY
Trustee or director
1$0$0
ERIKA BELLBOARD DIRECTOR
Trustee or director
1$0$0
JERRY HARMONBOARD DIRECTOR
Trustee or director
1$0$0
JORGE ARCHILABOARD DIRECTOR
Trustee or director
1$0$0

Address and contacts

Address (IRS master file)
100 W MORGAN ST, DURHAM, NC 27701-3315
In care of
% MARIA VICTORIA GARCIA
Principal officer (990 for 2024)
MARIA VICTORIA GARCIA, 100 WEST MORGAN STREET, DURHAM, NC 27701
Signed the 990
RODRIGO INIGUEZ, CHIEF FINANCIAL OFFICER
Phone
(919) 688-9270
Return prepared by
DOEREN MAYHEW

Mission

LATINO COMMUNITY CREDIT UNION'S (LCCU) MISSION IS TO PROVIDE ETHICAL FINANCIAL PRODUCTS AND EDUCATION TO EMPOWER COMMUNITIES.

990 for the year ended December 31, 2024

Program accomplishments

  • CREDIT UNION PROGRAMS: PROVIDE MORTGAGES AND CONSUMER LOANS TO MEMBERS AT AFFORDABLE RATES. THERE WERE 7,548 LOANS GRANTED DURING 2024 TO THE CREDIT UNION'S MEMBERS. OF THE 430 HOME LOANS MADE TO MEMBERS, 264 WERE TO FIRST-TIME HOMEBUYERS.
  • OFFER COMPETITIVE RATES ON SHARE DEPOSITS AND SERVICES. LCCU PAID OUT $21,768,667 IN DIVIDENDS FOR ITS 226,594 MEMBER ACCOUNTS IN 2024.
  • PROVIDE FINANCIAL EDUCATION TO OVER 144,214 MEMBERS AND TO THE BROADER COMMUNITY. OFFER FREE FINANCIAL EDUCATION WORKSHOPS TO THE COMMUNITY, DEVELOP AND DISTRIBUTE CURRICULUM AND EDUCATIONAL VIDEOS TO INTERESTED PARTIES. IN 2024, LCCU PROVIDED 49 SCHOLARSHIPS FOR HIGHER EDUCATION TO MEMBERS FOR A TOTAL OF $155,500.

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
56-2180770
Tax-exempt status
501(c)(14): State-chartered credit union
Exempt since
1969
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$1,053,161,674
Income (IRS master file)
$82,531,419

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$82,531,419$70,582,981$1,053,161,674IRS
990December 2023$73,382,404$52,597,358$1,031,841,907XML
990December 2022$57,822,762$34,036,462$910,105,673IRS
990December 2021–––IRS
990December 2020–––IRS
990December 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 56-2180770).

Questions about STATE CHARTERED CREDIT UNIONS IN NORTH CAROLINA

What is the EIN of STATE CHARTERED CREDIT UNIONS IN NORTH CAROLINA?
The employer identification number (EIN) of STATE CHARTERED CREDIT UNIONS IN NORTH CAROLINA is 56-2180770.
Is STATE CHARTERED CREDIT UNIONS IN NORTH CAROLINA tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1969.
Which annual return does STATE CHARTERED CREDIT UNIONS IN NORTH CAROLINA file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of STATE CHARTERED CREDIT UNIONS IN NORTH CAROLINA due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did STATE CHARTERED CREDIT UNIONS IN NORTH CAROLINA last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of STATE CHARTERED CREDIT UNIONS IN NORTH CAROLINA?
The 990 for the year ended December 31, 2024 names MARIA VICTORIA GARCIA.
Who are the officers and directors of STATE CHARTERED CREDIT UNIONS IN NORTH CAROLINA?
The 990 for the year ended December 31, 2024 lists 20 people; 13 received compensation from the organization, the highest $436,658 (MARIA VICTORIA GARCIA, CEO).
How much revenue does STATE CHARTERED CREDIT UNIONS IN NORTH CAROLINA have?
On its 990 for the year ended December 31, 2024 it reported revenue of $82,531,419, expenses of $70,582,981 and total assets of $1,053,161,674 at year end.

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