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National Credit Union Service Organization

STATE EMPLOYEES' CREDIT UNION, NC
— Statement of Financial Condition

Then NCUA provides quarterly Call Reports using accounting and statistical information from each credit union. The Call Report includes Balance Sheet, Income Statement and more.

Statement of financial condition for STATE EMPLOYEES' CREDIT UNION, NC as of: December 31, 2023.
Charter Number: 66310

ASSETS$ Amount
CASH:  
 1. Cash on Hand 692,683,103
 2. Cash on Deposit (Amounts Deposited in Financial Institutions) 6,974,850,199
 3. Cash Equivalents (Investments with Original Maturities of Three Months or Less) 0
INVESTMENTS:  
 4. Equity Securities 17,593,280
 5. Trading Debut Securities 0
 6. Available-for-Sale Debt Securities 11,747,119,831
 7. Held-to-Maturity Debt Securities 0
 8. Deposits in commercial banks, S&Ls, savings banks 0
 9. Loans to and investments in natural person credit unions 0
 10. Nonperpetual Capital Account 0
 11. Perpetual Contributed Capital 250,000
 12. All other investments in corporate credit unions 0
 13. All other investments 0
 14. TOTAL INVESTMENTS 0
LOANS HELD FOR SALE:  
 15. Loans Held for Sale 0
LOANS AND LEASES:  
 16. TOTAL LOANS & LEASES 33,534,736,751
 17. Less: Allowance for Loan & Lease Losses 0
 18: Less: Allowance for Credit Losses on Loans & Leases 405,910,239
OTHER ASSETS:  
 19. Foreclosed and Repossessed Assets 4,436,503
 20. Land and Building 1,115,506,709
 21. Other Fixed Assets 144,706,998
 22. NCUA Share Insurance Capitalization Deposit 418,206,599
 23. Intangible Assets 0
 24. Other Assets 0
25. TOTAL ASSETS 54,576,330,103
LIABILITIES$ Amount
 1. Draws Against Lines of Credit 5,000,000,000
 2. Other Notes, Promissory Notes and Interest Payable 0
 3. Borrowing Repurchase Transactions 0
 4. Subordinated Debt 0
 5. Subordinated Debt included in Net Worth 0
 6. TOTALS 5,000,000,000
 7. Non-Trading Derivative Liabilities 0
 8. Accrued Dividends & Interest Payable on Shares & Deposits 62,597,318
 9. Accounts Payable and Other Liabilities 547,270,363
 10. Allowance for Credit Losses on Off-Balance Sheet Credit Exposures 600,523
SHARES/DEPOSITS:  
 11. Share Drafts 6,820,390,966
 12. Regular Shares 7,231,168,884
 13. Money Market Shares 16,000,944,054
 14. Share Certificates 10,605,161,624
 15. IRA/KEOGH Accounts 3,400,062,375
 16. All Other Shares 455,140,669
 17. TOTAL SHARES 44,512,868,572
 18. Nonmember Deposits 0
 19. TOTAL SHARES AND DEPOSITS 44,512,868,572
20. TOTAL LIABILITIES  
 21. Accounts Held by Member Public Units 0
 22. Accounts Held by Nonmember Public Units 0
 23. Employee Benefit Member Shares 0
 24. Employee Benefit Nonmember Shares 0
 25. 529 Plan Member Deposits 0
 26. Non-dollar denominated deposits 0
 27. Health Savings Account 0
 28. Dollar Amount of Share Certificates equal to or greater than $100,000 (Excluding brokered share certificates participated out by the broker in shares of less than $100,000) 5,850,646,944
 29. Dollar Amount of IRA/Keogh Accounts equal to or greater than $100,000 1,450,442,842
 30. Dollar Amount of Share Drafts Swept to Regular Shares or Money Market Accts as part of Sweep Program 0
 31. Dollar Amount of Commercial Share Accounts 67,864,056
 32. Negative Shares Included in All Other Unsecured Loans/Lines of Credit 3,575,029
EQUITY:  
 33. Undivided Earnings 233,158,880
 34. Regular Reserves 0
 35. Appropriation for Non-Conforming Investments (State Credit Unions ONLY) 0
 36. Other Reserves.(Appropriations of Undivided Earnings) 5,025,000,000
 37. Equity Acquired in Merger 1,794,977
 38. Miscellaneous Equity 0
 39. Other Comprehensive Income (not already included in items 40 - 43) 19,328,797
 40. Accumulated Unrealized Net Gains (Losses) on Cash Flow Hedges 0
 41. Accumulated Unrealized Gains (Losses) on Available for Sale Debt Securities -826,289,327
 42. Accumulated Unrealized Losses for OTTI (Due to Other Factors) on HTM Debt Securities 0
 43. Net Income (unless this amount is already included in Undivided Earnings) 0
44. TOTAL LIABILITIES, SHARES, AND EQUITY 54,576,330,103
Statement of Income & Expense$ Amount
INTEREST INCOME YEAR-TO-DATE FOR THE CYCLE  
 1. Interest on Loans (Gross-before interest refunds) 1,596,407,855
 2. (Less) Interest Refunded 0
 3. Income from Investments (Including Interest and Dividends, excluding securities held in a trading account) 397,092,173
 4. Unrealized Gain (Loss) due to change in fair value of Equity and Trading Debt Securities 0
 5. TOTAL INTEREST INCOME 1,993,500,028
INTEREST EXPENSE YEAR-TO-DATE FOR THE CYCLE  
 6. Dividends on Shares (Includes dividends earned during current period) 570,635,392
 7. Interest on Deposits (Total interest expense for deposit accounts) (State Credit Union ONLY) 0
 8. Interest on Borrowed Money 50,069,108
 9. TOTAL INTEREST EXPENSE 620,704,500
 10. Provision for Loan & Lease Losses 0
 11. Total Credit Loss Expense 234,884,907
 12. NET INTEREST INCOME AFTER PROVISION FOR LOAN AND LEASE LOSSES or CREDIT LOSS EXPENSE 0
NON-INTEREST INCOME YEAR-TO-DATE FOR THE CYCLE  
 13. Fee Income 48,174,357
 14. Other Operating Income (Includes unconsolidated CUSO Income and Gain (Loss) associated with the Hedged Item (NonInvestment Assets) in a Non-Trading, Fair Value (FV) Derivatives Hedge) 0
 15. Gain (Loss) on Equity Securities (DO NOT include Gain (Loss) on other securities) 0
 16. Gain (Loss) on Other Securities (DO NOT include Gain or Loss on Equity Securities) 0
 17. Gain (Loss) on Non-Trading Derivatives 0
 18. Gain (Loss) on Disposition of Fixed Assets 4,543,680
 19. Gain from Bargain Purchase (Merger) 0
 20. Other Non-operating Income (Expense) -1,716,146
 21. TOTAL NON-INTEREST INCOME 417,204,230
NON-INTEREST EXPENSE YEAR-TO-DATE FOR THE CYCLE  
 22. Total Employee Compensation and Benefits 732,832,195
 23. Travel and Conference Expense 7,219,931
 24. Office Occupancy Expense 101,124,127
 25. Office Operations Expense 242,315,003
 26. Educational and Promotional Expenses 6,515,881
 27. Loan Servicing Expense 11,661,333
 28. Professional and Outside Services 42,068,753
 29. Total Member Insurance 0
 30. Operating Fees (Examination and/or supervision fees) 769,233
 31. Miscellaneous Operating Expenses 46,357,855
 32. TOTAL NON-INTEREST EXPENSE 1,190,864,311
33. NET INCOME (LOSS) 364,250,540
RESERVE TRANSFERS YEAR-TO-DATE FOR THE CYCLE  
 34. Transfer to Regular Reserves 0
Interest Rate# LoansAmount
Non-Commercial Loans/Lines of Credit
 1. Unsecured Credit Card Loans13.00345,376$1,162,464,199
 2. Payday Alternative Loans (PALs I and PALs II)0.000$0
 3. Non-Federally Guaranteed Student Loans0.000$0
 4. All Other Unsecured Loans/Lines of Credit - include SBA PPP loans10.75347,792$2,245,982,093
 5. New Vehicle Loans6.2539,953$1,103,234,249
 6. Used Vehicle Loans6.75195,156$2,954,715,110
 7. Leases Receivable0.000$0
 8. All Other Secured Non-Real Estate Loans/Lines of Credit3.5028,773$37,311,671
 9. Loans/Lines of Credit Secured by a First Lien on a single 1- to 4- Family Residential Property6.63165,789$24,294,279,480
 10. Loans/Lines of Credit Secured by a Junior Lien on a single 1- to 4- Family Residential Property7.7546,472$1,736,749,949
 11. All Other Real Estate Loans/Lines of Credit0.000$0
Commercial Loans / Lines of Credit
 12. Commercial Loans/Lines of Credit Real Estate Secured0.000$0
 13. Commercial Loans/Lines of Credit Not Real Estate Secured0.000$0
 14. TOTAL LOANS & LEASES1,169,311$33,534,736,751
YEAR-TO-DATE LOAN INFORMATIONNumberAmount
 15. Loans Granted Year-to-Date385,388$10,131,611,095
  a. Payday Alternative Loans (PALs I and PALs II) Granted Year-to-Date0$0
MISCELLANEOUS LOAN INFORMATIONNumberAmount
 16. Non-Federally Guaranteed Student Loans in Deferred Status0$0
 17. Loans Outstanding to Credit Union Officials and Senior Executive Staff448$34,963,509
GOVERNMENT GUARANTEED LOANSNumberOutstanding BalanceGuaranteed Portion
 18. Non-Commercial Loans  
  a. 1. Small Business Administration0$0$0
  a. 2. Paycheck Protection Program Loans (Included in 18.a.1.)0$0-
  b. Other Government Guaranteed0$0$0
 19. Commercial Loans  
  a. Small Business Administration0$0$0
  b. Other Government Guaranteed0$0$0