Mar, 31, 2021 — STATE EMPLOYEES' CREDIT UNION, NC (NCSECU) is a federally insured state chartered credit union headquartered in RALEIGH, NC with 272 branch locations and about $49.63 billion in total assets. Opened 84 years ago in 1937, STATE EMPLOYEES' CREDIT UNION, NC (NCSECU) has more than 2.6 million members and employs 7,007 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: | http://www.ncsecu.org |
| Branches: | 272 branch locations |
| Members: | 2,577,250 |
| 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, 2020 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $49,634,688,175 |
| CEO/Manager: | Michael J Lord |
| Chairperson: | Bob Brinson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 11,592,539,759 |
| TOTAL INVESTMENTS | 12,425,388,475 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 19,048,241,399 |
| Unsecured Loans | 2,173,159,842 |
| Other Loans | 2,945,724,340 |
| TOTAL LOANS | 24,167,125,581 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -406,260,280 |
| Land And Building | 1,069,548,712 |
| Other Fixed Assets | 192,897,715 |
| NCUSIF Deposit | 396,751,496 |
| All Other Assets | 196,696,717 |
| TOTAL ASSETS | 49,634,688,175 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 7,119,182 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 443,938,024 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 6,628,438,754 |
| Regular shares | 7,066,142,327 |
| All Other Shares & Deposits | 31,751,634,056 |
| TOTAL SHARES & DEPOSITS | 45,446,215,137 |
| TOTAL LIABILITIES | 45,897,272,343 |
| Regular Reserve | 2,000,000,000 |
| Other Reserves | 1,434,368,528 |
| Undivided Earnings | 303,047,304 |
| TOTAL EQUITY | 3,737,415,832 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 49,634,688,175 |
| INCOME & EXPENSE | |
| Loan Income | 293,007,695 |
| Investment Income | 30,155,782 |
| Other Income | 33,899,337 |
| Total Employee Compensation & Benefits | 153,277,037 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 92,767,676 |
| Non-operating Income & (Expense) | 1,920,133 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 10,005,000 |
| Cost of Funds | 35,734,500 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 131,357,204 |
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