Dec, 31, 2020 — STATE EMPLOYEES' CREDIT UNION, NC (NCSECU) is a federally insured state chartered credit union headquartered in RALEIGH, NC with 271 branch locations and about $47.38 billion in total assets. Opened 84 years ago in 1937, STATE EMPLOYEES' CREDIT UNION, NC (NCSECU) has more than 2.5 million members and employs 7,089 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: | 271 branch locations |
| Members: | 2,547,942 |
| 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: | $47,376,088,322 |
| CEO/Manager: | Michael J Lord |
| Chairperson: | Bob Brinson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 8,729,176,060 |
| TOTAL INVESTMENTS | 12,674,194,315 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 19,435,826,739 |
| Unsecured Loans | 2,238,232,332 |
| Other Loans | 2,931,349,757 |
| TOTAL LOANS | 24,605,408,828 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -413,452,421 |
| Land And Building | 1,067,257,332 |
| Other Fixed Assets | 197,301,307 |
| NCUSIF Deposit | 378,832,231 |
| All Other Assets | 137,370,670 |
| TOTAL ASSETS | 47,376,088,322 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 8,480,608 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 412,784,499 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 6,079,651,269 |
| Regular shares | 6,004,155,430 |
| All Other Shares & Deposits | 31,041,609,189 |
| TOTAL SHARES & DEPOSITS | 43,125,415,888 |
| TOTAL LIABILITIES | 43,546,680,995 |
| Regular Reserve | 1,845,000,000 |
| Other Reserves | 1,812,717,228 |
| Undivided Earnings | 171,690,099 |
| TOTAL EQUITY | 3,829,407,327 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 47,376,088,322 |
| INCOME & EXPENSE | |
| Loan Income | 1,197,974,003 |
| Investment Income | 150,827,486 |
| Other Income | 307,133,939 |
| Total Employee Compensation & Benefits | 584,880,050 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 351,835,373 |
| Non-operating Income & (Expense) | 12,419,549 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 201,137,892 |
| Cost of Funds | 282,425,801 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 248,075,861 |
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