Dec, 31, 2022 — STATE EMPLOYEES' CREDIT UNION, NC (NCSECU) is a federally insured state chartered credit union headquartered in RALEIGH, NC with 273 branch locations and about $52.11 billion in total assets. Opened 86 years ago in 1937, STATE EMPLOYEES' CREDIT UNION, NC (NCSECU) has more than 2.7 million members and employs 8,257 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: | 273 branch locations |
| Members: | 2,704,718 |
| 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, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $52,107,583,234 |
| CEO/Manager: | James T Hayes |
| Chairperson: | Chris Ayers |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 7,707,653,135 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 22,283,441,802 |
| Unsecured Loans | 2,707,929,384 |
| Other Loans | 3,509,784,733 |
| TOTAL LOANS | 28,501,155,919 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -319,231,457 |
| Land And Building | 1,082,375,012 |
| Other Fixed Assets | 168,672,563 |
| NCUSIF Deposit | 430,577,265 |
| All Other Assets | 4,044,083 |
| TOTAL ASSETS | 52,107,583,234 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 8,608,506 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 522,780,737 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 6,923,724,498 |
| Regular shares | 8,485,987,451 |
| All Other Shares & Deposits | 32,698,850,980 |
| TOTAL SHARES & DEPOSITS | 48,108,562,929 |
| TOTAL LIABILITIES | 48,639,952,172 |
| Regular Reserve | 0 |
| Other Reserves | 3,256,927,689 |
| Undivided Earnings | 210,703,373 |
| TOTAL EQUITY | 3,467,631,062 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 52,107,583,234 |
| INCOME & EXPENSE | |
| Loan Income | 898,128,338 |
| Investment Income | 172,869,588 |
| Other Income | 66,800,407 |
| Total Employee Compensation & Benefits | 478,772,041 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 323,306,532 |
| Non-operating Income & (Expense) | 1,034,743 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 7,500,000 |
| Cost of Funds | 106,638,243 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 463,710,509 |
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