Dec, 31, 2023 — STATE EMPLOYEES' CREDIT UNION, NC (NCSECU) is a federally insured state chartered credit union headquartered in RALEIGH, NC with 275 branch locations and about $54.58 billion in total assets. Opened 87 years ago in 1937, STATE EMPLOYEES' CREDIT UNION, NC (NCSECU) has more than 2.8 million members and employs 8,236 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | STATE EMPLOYEES' CREDIT UNION, NC |
|---|---|
| Address: (Main Office) | 119 N Salisbury St RALEIGH, NC 27603 |
| Phone: | (919) 839-5000 |
| Fax: | (919) 839-5353 |
| Website: | https://www.ncsecu.org |
| Branches: | 275 branch locations |
| Members: | 2,779,110 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 66310 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1937 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $54,576,330,103 |
| CEO/Manager: | Leigh Brady |
| Chairperson: | Mona Moon |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 7,667,533,302 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 26,031,029,429 |
| Unsecured Loans | 3,408,446,292 |
| Other Loans | 4,095,261,030 |
| TOTAL LOANS | 33,534,736,751 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -405,910,239 |
| Land And Building | 1,115,506,709 |
| Other Fixed Assets | 144,706,998 |
| NCUSIF Deposit | 418,206,599 |
| All Other Assets | 4,436,503 |
| TOTAL ASSETS | 54,576,330,103 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 62,597,318 |
| Notes & Interest Payable | 5,000,000,000 |
| Accounts Payable & Other Liabilities | 547,270,363 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 6,820,390,966 |
| Regular shares | 7,231,168,884 |
| All Other Shares & Deposits | 30,461,308,722 |
| TOTAL SHARES & DEPOSITS | 44,512,868,572 |
| TOTAL LIABILITIES | 50,123,336,776 |
| Regular Reserve | 0 |
| Other Reserves | 4,219,834,447 |
| Undivided Earnings | 233,158,880 |
| TOTAL EQUITY | 4,452,993,327 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 54,576,330,103 |
| INCOME & EXPENSE | |
| Loan Income | 1,596,407,855 |
| Investment Income | 397,092,173 |
| Other Income | 48,174,357 |
| Total Employee Compensation & Benefits | 732,832,195 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 458,032,116 |
| Non-operating Income & (Expense) | 2,827,534 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 234,884,907 |
| Cost of Funds | 620,704,500 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 364,250,540 |
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