State Chartered Credit Unions Inc
501(c)(14)
Only null% goes to programs Strong reserves Growing revenue
State Chartered Credit Unions Inc is a 501(c)(14) organization based in Lenoir, North Carolina, registered in 1969, with $2,616,980,178 in FY2023 revenue. CharityIndex grades it A.
2944 Spencer St, Lenoir, NC, 28645 EIN 56-0475645 Since 1969
Revenue (FY2023)
$2.6B
▲ 20.2% vs prior year
Expenses (FY2023)
$2.4B
Net assets
$4.6B
Employees
9,205
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
—Program efficiency40% of the ratingNo expense breakdown in filings
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. Not scored for State Chartered Credit Unions Inc— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
AFinancial health25% of the rating23 mo reserves · +8% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For State Chartered Credit Unions Inc: 23 mo reserves · +8% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For State Chartered Credit Unions Inc: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
BTransparency10% of the rating3 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For State Chartered Credit Unions Inc: 3 of 5 disclosure signals earns a B on this criterion. See the exact thresholds →
Show this grade on your website
A live seal — it updates automatically when the grade changes and links donors to this verified profile.
Mission
Improve economic life, social condition, provide credit and broaden economic awareness of members through programs of consumer protection.
Contact & location
- Address
- 2944 Spencer St, Lenoir, NC, 28645
- City
- Lenoir
- State
- North Carolina
- Category
- —
- Subcategory
- —
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $956.8M (FY2013) to $2.6B (FY2023) across 11 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $51.8BNet assets $4.6B
Operating margin
7.7%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$56.4B
Total liabilities
$51.8B
Net assets
$4.6B
Salaries & benefits
$743.7M
31% of expenses
Board members
11
11 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $2,616,980,178▲20.2% | $2,414,379,999▲51.5% | $4,616,214,005▲13.9% | $56,444,772,890▲13.7% | 990 |
| 2022 | $2,176,491,752▲30.9% | $1,593,476,956▲43.9% | $4,052,431,985▲9.7% | $49,625,413,489▼6.7% | 990 |
| 2021 | $1,663,323,190▲1.5% | $1,107,033,903▼8.2% | $3,695,663,394▼5.4% | $53,195,296,849▲6.4% | 990 |
| 2020 | $1,639,456,686▼3.1% | $1,206,510,123▼18.8% | $3,908,527,150▲5.5% | $50,003,058,257▲10.5% | 990 |
| 2019 | $1,692,752,969▲0.5% | $1,486,066,717▲3.1% | $3,704,737,922▲10.0% | $45,245,519,314▲11.2% | 990 |
| 2018 | $1,685,013,461▲12.2% | $1,441,021,781▲19.3% | $3,368,212,363▲12.3% | $40,697,542,181▲5.8% | 990 |
| 2017 | $1,501,185,216▲16.4% | $1,207,551,463▲12.1% | $2,999,393,094▲5.9% | $38,468,314,242▲4.2% | 990 |
| 2016 | $1,289,422,316▲7.0% | $1,077,656,767▲12.0% | $2,833,476,952▲7.6% | $36,933,775,348▲9.2% | 990 |
| 2015 | $1,205,116,084▲10.7% | $962,503,799▲15.1% | $2,634,187,175▲9.8% | $33,825,999,547▲9.6% | 990 |
| 2014 | $1,088,638,044▲13.8% | $836,183,024▲11.5% | $2,398,253,191▲11.8% | $30,876,123,778▲7.7% | 990 |
| 2013 | $956,758,255 | $749,824,452▲0.2% | $2,146,012,979▲11.2% | $28,665,606,189▲7.0% | 990 |
| 2012 | — | $747,989,957▼3.6% | $1,930,641,147▲6.9% | $26,799,238,232▲6.8% | 990 |
| 2011 | — | $775,578,427▼7.3% | $1,805,559,738▲9.0% | $25,097,413,322▲8.8% | 990 |
| 2010 | — | $836,541,346▲3.6% | $1,656,438,789▲10.6% | $23,061,232,954▲9.6% | 990 |
| 2009 | — | $807,380,189 | $1,498,164,777 | $21,038,409,107 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2023)
Highest-paid: James Hayes — $1,166,700 (0.05% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| James Hayes | President (thru 7/21/23) | 40 | $1,166,700 |
| Leigh Brady | President | 40 | $973,775 |
| Rex Spivey | Chief Financial Officer | 40 | $641,501 |
| Stacie Walker | Chief Lending Officer | 40 | $528,063 |
| Bridget Welborn | Chief Risk Officer (thru 12/6/23) | 40 | $524,095 |
| Joshua Bomba | Chief Information Technology Officer | 40 | $465,708 |
| Jennifer Hamrick | Chief Operations Director | 40 | $452,100 |
| Sara Trexler | Chief Administrative Officer | 40 | $439,922 |
| Jared Benesh | Evp - Member Experience | 40 | $422,601 |
| John Sykes | Evp - Deputy Chief Financial Officer | 40 | $412,443 |
| Damian Carter | Regional Svp (thru 12/4/23) | 40 | $406,123 |
| Jamie Applequist | Evp - Chief Property Officer | 40 | $405,532 |
| William Deans | Evp - Director of It Operations | 40 | $384,919 |
| Emma Hayes | Chief Learning & Experience | 40 | $335,444 |
| Carl Seabrook | Chief Audit and Regulatory | 40 | $327,484 |
| Jonathan Coburn | Evp Loan Orginations & Systems Operations | 40 | $326,966 |
| Cathy Plaut | Chief Legal Officer - General Counsel | 40 | $314,909 |
| Jonathan Dallaire | Evp Director Chief Security Officer | 40 | $311,750 |
| Spencer Scarboro | Evp Loan Risk & Servicing Operations | 40 | $310,184 |
| Sarah Thompson | Chief Risk Officer | 40 | $165,240 |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| Sirius Computer Solutions Inc | It Services | $33,980,916 |
| Mainline Information Systems Inc | It Services | $20,408,168 |
| Accurate Title Group | Appraisal and Title Services | $19,571,499 |
| Venture Solutions Inc | Misc | $14,978,125 |
| Converge Technology Solutions Us LLC | It Services | $7,613,179 |
Grants made · $356K in FY2023
11 grants totaling $356K in FY2023. All grants made by State Chartered Credit Unions Inc →
| Recipient | Purpose | Amount |
|---|---|---|
| African American Credit Union Coalition | General support | $125,000 |
| Worldwide Foundation For Credit Unions Inc | General support | $100,000 |
| Carolinas Credit Union Foundation Inc | General support | $30,990 |
| Keep North Carolina Beautiful Inc | General support | $25,000 |
| Environmental Federation of North Carolina Inc | General support | $20,000 |
| North Carolina School Boards Action Center | General support | $13,500 |
| Credit Union Miracle Day Committee Inc | General support | $10,000 |
| State Capitol Foundation Inc | General support | $10,000 |
| March of Dimes Inc | General support | $7,500 |
| National Credit Union Foundation Inc | General support | $7,500 |
| United Negro College Fund Inc | General support | $6,100 |
Frequently asked questions
- Is State Chartered Credit Unions Inc a legitimate nonprofit?
- Yes. State Chartered Credit Unions Inc is a 501(c)(14) organization registered with the U.S. Internal Revenue Service under EIN 56-0475645, based in Lenoir, North Carolina.
- What is State Chartered Credit Unions Inc's EIN?
- State Chartered Credit Unions Inc's Employer Identification Number (EIN) is 56-0475645.
- How much revenue does State Chartered Credit Unions Inc report?
- State Chartered Credit Unions Inc reported $2,616,980,178 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- What financial grade does State Chartered Credit Unions Inc have?
- CharityIndex grades State Chartered Credit Unions Inc A, based on financial health (reserves and operating margin).
- How much does State Chartered Credit Unions Inc's highest-paid employee make?
- The highest reported compensation on State Chartered Credit Unions Inc's latest Form 990 is $1,166,700, paid to James Hayes (President (thru 7/21/23)).
More nonprofits in Lenoir
Explore more
Data for State Chartered Credit Unions Inc (EIN 56-0475645) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.