State Employees Credit Union of Maryland Inc
501(c)(14)
Only null% goes to programs Strong reserves Growing revenue
State Employees Credit Union of Maryland Inc is a 501(c)(14) organization based in Linthicum, Maryland, registered in 1998, with $333,079,288 in FY2024 revenue. CharityIndex grades it A.
971 Corporate Blvd, Linthicum, MD, 21090 EIN 52-0627114 Since 1998
Revenue (FY2024)
$333.1M
▲ 16.7% vs prior year
Expenses (FY2024)
$288.5M
Net assets
$475.7M
Employees
496
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 Employees Credit Union of Maryland 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 rating20 mo reserves · +13% 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 Employees Credit Union of Maryland Inc: 20 mo reserves · +13% 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 Employees Credit Union of Maryland Inc: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
ATransparency10% of the rating4 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 Employees Credit Union of Maryland Inc: 4 of 5 disclosure signals earns a A 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
To make a positive contribution to the financial well-being of those we serve.
What they do
Loan products:secu provides mortgage, consumer, and business loans to members at competitive rates. these loans include 1st and 2nd mortgages, home equity lines of credit, credit card, unsecured lines of credit, new and used auto loans, and student loans. as of december 31, 2024, secu had 127,003 loans outstanding to members totaling $4.34 billion.
Traditional/online/mobile banking:secu offers online and mobile banking to members in addition to 23 branches and 99 atms throughout the state.
Financial education: in 2024, secu provided adult and youth financial education services such as working with schools and select employer groups.
Contact & location
Financial trends
Revenue grew from $132.1M (FY2013) to $333.1M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $5.0BNet assets $475.7M
Operating margin
13.4%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$5.5B
Total liabilities
$5.0B
Net assets
$475.7M
Salaries & benefits
$51.0M
18% of expenses
Board members
9
9 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $333,079,288▲16.7% | $288,514,797▲24.1% | $475,735,709▲14.8% | $5,471,069,735▲3.7% | 990 |
| 2023 | $285,494,724▲32.0% | $232,565,770▲33.6% | $414,383,719▲12.6% | $5,276,282,946▼0.7% | 990 |
| 2022 | $216,273,782▲18.1% | $174,014,189▲13.6% | $368,124,630▼9.7% | $5,313,600,650▲11.2% | 990 |
| 2021 | $183,163,683▼2.8% | $153,156,624▼11.2% | $407,468,765▲1.8% | $4,778,753,481▲9.2% | 990 |
| 2020 | $188,419,523▼9.3% | $172,560,513▼8.3% | $400,089,809▲6.7% | $4,377,810,695▲15.9% | 990 |
| 2019 | $207,778,944▲7.4% | $188,108,459▲9.6% | $374,897,806▲5.7% | $3,776,557,961▲3.6% | 990 |
| 2018 | $193,467,339▲22.0% | $171,626,298▲22.7% | $354,516,911▲6.3% | $3,646,274,745▲8.0% | 990 |
| 2017 | $158,548,153▲10.9% | $139,903,340▲11.4% | $333,355,205▲5.8% | $3,375,853,515▲2.7% | 990 |
| 2016 | $142,919,166▲10.6% | $125,547,372▲10.1% | $315,149,597▲5.7% | $3,288,328,769▲10.3% | 990 |
| 2015 | $129,190,793▲3.1% | $113,982,467▲3.4% | $298,240,146▲5.6% | $2,982,275,697▲6.4% | 990 |
| 2014 | $125,280,444▼5.2% | $110,236,486▼1.5% | $282,365,147▲7.6% | $2,801,596,482▲4.3% | 990 |
| 2013 | $132,137,476 | $111,947,149▲2.9% | $262,460,742▲3.4% | $2,687,185,704▲4.7% | 990 |
| 2012 | — | $108,792,036▼1.5% | $253,773,197▲14.5% | $2,566,962,629▲13.8% | 990 |
| 2011 | — | $110,476,647▼7.1% | $221,566,764▲10.1% | $2,256,091,090▲7.8% | 990 |
| 2010 | — | $118,877,532 | $201,279,579 | $2,092,646,927 | 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 (FY2024)
Highest-paid: David Sweiderk — $1,481,399 (0.51% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| David Sweiderk | Ceo/president | 40 | $1,481,399 |
| Steven Arbaugh | Cfo/evp | 40 | $883,829 |
| Rebecca Smith | Chief Growth/engagement Officer/evp | 40 | $699,537 |
| Kevin Kesecker | Chief Credit Officer/evp | 40 | $632,231 |
| Roderic Flowers | Chief Dei & Hr Officer/svp | 40 | $543,079 |
| Janelle Burgoyne | Cgo & General Counsel/svp | 40 | $517,800 |
| James Smith | Chief Banking Officer/gsvp | 40 | $412,508 |
| John Ena Jr | Svp, Finance & Controller | 40 | $405,443 |
| Mark Deitz | Md, Enterprise Sales | 40 | $397,679 |
| Steven Mckone | Chief Service Operations Officer/svp | 40 | $393,140 |
| Kelley Harwood | Vp, Mortgage Prog & Strat | 40 | $389,188 |
| Kevin Stehl | Chief Product Officer/svp | 40 | $375,068 |
| William Harper | Mortgage Loan Officer | 40 | $360,866 |
| Mark Considine | Mortgage Loan Officer | 40 | $358,570 |
| James Mellendick | Md, Wealth Management | 40 | $349,673 |
| Jason Reimer | Chief Infra & Experience Officer/ev | 40 | $324,916 |
| Jonathan Wasey | Financial Advisor | 40 | $301,560 |
| Teshia Davis | Vp, People | 40 | $298,683 |
| Amy Basta | Chief Marketing Officer/svp | 40 | $296,079 |
| Adrienne Allgire | Vp, Operations | 40 | $290,641 |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Open Technology Solutions LLC | Technology Services | $16,325,324 |
| Fiserv Inc | Financial Services Software | $4,218,693 |
| Cu Cooperative Systems Inc | Atm Network & Member Online Banking | $3,541,973 |
| Qsi Inc | Atm/itm Equipment & Maintenance | $3,014,124 |
| Diebold Nixdorf Inc | Atm/ Equipment & Maintenance | $1,416,715 |
Grants made · $473K in FY2024
8 grants totaling $473K in FY2024. All grants made by State Employees Credit Union of Maryland Inc →
| Recipient | Purpose | Amount |
|---|---|---|
| Secu Md Foundation Inc | Operating and scholarship program support | $345,000 |
| Special Olympics Maryland Inc | General support | $40,000 |
| Kennedy Krieger Foundation Inc | General support | $24,500 |
| Ulman Foundation Inc | General support | $21,000 |
| The Credit Union Foundation of Md and Dc Inc | General support | $15,000 |
| Council On Economic Education In Maryland | General support | $10,000 |
| Best Is Ahead Foundation Inc | General support | $10,000 |
| Baltimore Community Foundation Inc | General support | $7,500 |
Frequently asked questions
- Is State Employees Credit Union of Maryland Inc a legitimate nonprofit?
- Yes. State Employees Credit Union of Maryland Inc is a 501(c)(14) organization registered with the U.S. Internal Revenue Service under EIN 52-0627114, based in Linthicum, Maryland.
- What is State Employees Credit Union of Maryland Inc's EIN?
- State Employees Credit Union of Maryland Inc's Employer Identification Number (EIN) is 52-0627114.
- How much revenue does State Employees Credit Union of Maryland Inc report?
- State Employees Credit Union of Maryland Inc reported $333,079,288 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- What financial grade does State Employees Credit Union of Maryland Inc have?
- CharityIndex grades State Employees Credit Union of Maryland Inc A, based on financial health (reserves and operating margin).
- How much does State Employees Credit Union of Maryland Inc's highest-paid employee make?
- The highest reported compensation on State Employees Credit Union of Maryland Inc's latest Form 990 is $1,481,399, paid to David Sweiderk (Ceo/president).
More nonprofits in Linthicum
Explore more
Data for State Employees Credit Union of Maryland Inc (EIN 52-0627114) 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.