Dec, 31, 2021 — STATE EMPLOYEES' CREDIT UNION, NC (NCSECU) is a federally insured state chartered credit union headquartered in RALEIGH, NC with 273 branch locations and about $51.65 billion in total assets. Opened 85 years ago in 1937, STATE EMPLOYEES' CREDIT UNION, NC (NCSECU) has more than 2.6 million members and employs 7,179 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: | 273 branch locations |
| Members: | 2,638,399 |
| 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, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $51,653,024,645 |
| CEO/Manager: | James T Hayes |
| Chairperson: | Chris Ayers |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 13,483,550,491 |
| TOTAL INVESTMENTS | 11,263,069,854 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 19,786,602,639 |
| Unsecured Loans | 2,401,288,640 |
| Other Loans | 3,238,416,323 |
| TOTAL LOANS | 25,426,307,602 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -373,013,445 |
| Land And Building | 1,070,346,560 |
| Other Fixed Assets | 163,960,582 |
| NCUSIF Deposit | 418,925,223 |
| All Other Assets | 199,877,778 |
| TOTAL ASSETS | 51,653,024,645 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 6,328,202 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 516,874,287 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 6,555,701,469 |
| Regular shares | 7,867,986,019 |
| All Other Shares & Deposits | 32,630,063,485 |
| TOTAL SHARES & DEPOSITS | 47,053,750,973 |
| TOTAL LIABILITIES | 47,576,953,462 |
| Regular Reserve | 2,000,000,000 |
| Other Reserves | 1,779,078,320 |
| Undivided Earnings | 296,992,863 |
| TOTAL EQUITY | 4,076,071,183 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 51,653,024,645 |
| INCOME & EXPENSE | |
| Loan Income | 1,155,299,353 |
| Investment Income | 116,800,556 |
| Other Income | 143,620,562 |
| Total Employee Compensation & Benefits | 594,014,128 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 391,488,805 |
| Non-operating Income & (Expense) | 13,751,858 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 10,033,564 |
| Cost of Funds | 130,341,022 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 557,302,763 |
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