STATE CHARTERED CREDIT UNIONS IN NORTH CAROLINA

EIN: 560432082

GREENSBORO, NC

Total Revenue
$25,893,783
Total Expenses
$23,126,078
Total Assets
$360,263,330
Net Assets
$54,978,658
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1935
Legal Domicile
NC
Principal Officer
Sam Whitehurst
Phone
3366626200
Tax Period
2025-01-01 to 2025-12-31

STATE CHARTERED CREDIT UNIONS IN NORTH CAROLINA, founded in 1935, is a mid-sized nonprofit that reported $25.9M in total revenue in fiscal year 2025. Expenses of $23.1M left a modest 11% surplus.

Mission

To provide loans and services to members at reasonable rates and costs. # of loans=20,158. Amount=$232,691,914. # of members=30,709.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2025)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $22,421,180
Investment Income $3,063,888
Other Revenue $408,715
TOTAL REVENUE $25,893,783

Expense Breakdown

Grants Paid $0
Salaries & Benefits $8,254,276
Fundraising Expenses $0
Program Expenses $23,126,078
Other Expenses $14,871,802
TOTAL EXPENSES $23,126,078

Year-over-Year Comparison

2025 2024 Change
Revenue $25,893,783 $24,431,770 +0.1%
Expenses $23,126,078 $21,414,343 +0.1%
Net Income $2,767,705 $3,017,427 -0.1%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
N/A
Independent Members
30709
Employees
99
Volunteers
9

Governance Policies

✓ Conflict of Interest Policy
✗ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
0
$0
Total Directors
9
$0
Key Employees
0
$0
Highest Compensated
2
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Sam Whitehurst CEO/President 50
Highest
$492,262 $0 $492,262
Derek Williamson SVP/CFO 45
Highest
$224,739 $0 $224,739
Sharisse Fuller Secretary 2
Director
$0 $0 $0
Tom Welch Board Emeritus 2
Director
$0 $0 $0
Rick Miller Board member 2
Director
$0 $0 $0
Paul Martino Board Member 2
Director
$0 $0 $0
Brenda Gibson Board Member 2
Director
$0 $0 $0
Jill Bennett Vice Chair 4
Director
$0 $0 $0
G A Thornton Board member 4
Director
$0 $0 $0
Dan Greene Chairman 4
Director
$0 $0 $0
Paul Francis Treasurer 4
Director
$0 $0 $0
Roger Pyatt Board Member 2
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $25,893,783 $23,126,078 $360,263,330 $2,767,705
2024 No data No data No data No data
2023 $21,859,593 $19,159,854 $338,211,628 $2,699,739
2022 $18,701,954 $16,053,531 $336,647,250 $2,648,423
2021 $18,300,511 $14,812,612 $337,571,406 $3,487,899
2020 $17,738,027 $15,930,172 $305,212,523 $1,807,855
2019 $18,433,137 $15,936,780 $263,553,732 $2,496,357
2018 $16,823,868 $14,873,434 $260,469,459 $1,950,434
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