RALEIGH, NC
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)STATE EMPLOYEES' CREDIT UNION, founded in 1937, is a large national nonprofit that reported $2.9B in total revenue in fiscal year 2024. Revenue grew 12% year-over-year, indicating healthy expansion. Expenses of $2.6B left a modest 9% surplus.
TO BE THE TRUSTED PROVIDER OF FINANCIAL SERVICES TO EVERY ELIGIBLE MEMBER AND TO ENHANCE THE QUALITY OF THEIR LIVES AND FINANCIAL WELL-BEING WHILE MAINTAINING OUR FISCAL STRENGTH.
THE STATE EMPLOYEES' CREDIT UNION IS OWNED BY OUR 2.9 MILLION MEMBERS. SECU PROVIDES SERVICES TO OUR MEMBERS THROUGH 276 BRANCH OFFICES, 1076 ATMS, 24/7 CONTACT CENTERS, AND A WEBSITE -...
THE STATE EMPLOYEES' CREDIT UNION IS OWNED BY OUR 2.9 MILLION MEMBERS. SECU PROVIDES SERVICES TO OUR MEMBERS THROUGH 276 BRANCH OFFICES, 1076 ATMS, 24/7 CONTACT CENTERS, AND A WEBSITE - WWW.NCSECU.ORG. AS A CREDIT UNION, MEMBERS DEPOSIT FUNDS INTO SHARE ACCOUNTS, WHICH ARE THEN LOANED TO OTHER MEMBERS. THE CREDIT UNION OFFERS SHARE ACCOUNTS OF VARIOUS TYPES - MEMBERSHIP SHARES, SHARE DRAFTS, MONEY MARKET SHARES, IRA SHARES, AND SHARE TERM CERTIFICATES. LOANS TO MEMBERS CONSISTS OF MORTGAGES, HOME EQUITY, AUTO AND OTHER CONSUMER LOANS. AT JUNE 30, 2025, THERE WERE APPROXIMATELY 617,000 PERSONAL LOANS AND APPROXIMATELY 234,000 FIRST AND SECOND MORTGAGE LOANS OUTSTANDING. THE CREDIT UNION RECEIVED $2,923,081,432 IN REVENUES FROM INTEREST ON LOANS, INTEREST ON INVESTMENTS, AND OTHER NON-INTEREST SOURCES DURING THE YEAR ENDED JUNE 30, 2025. THE COST OF PROVIDING SERVICES TO CREDIT UNION MEMBERS WAS $2,645,445,120 FOR THE YEAR. THE COST OF SERVICES CONSISTS OF INTEREST PAID ON SHARE ACCOUNTS, SALARIES, BUILDING EXPENSES, EQUIPMENT EXPENSES, AND OTHER OPERATIONAL EXPENSES.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2024 | 2023 | Change | |
|---|---|---|---|
| Revenue | $2,922,921,560 | $2,616,980,178 | +0.1% |
| Expenses | $2,645,445,120 | $2,414,379,999 | +0.1% |
| Net Income | $277,476,440 | $202,600,179 | +0.4% |
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
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| LEIGH BRADY | PRESIDENT | 40.00 |
Officer
|
$1,166,503 | $64,406 | $1,230,909 |
| REX SPIVEY | CHIEF FINANCIAL OFFICER | 40.00 |
Officer
|
$600,433 | $48,653 | $649,086 |
| JOSHUA BOMBA | CITO (LEFT 12/13/24) | 40.00 |
Officer
|
$539,659 | $60,141 | $599,800 |
| JARED BENESH | EVP - MEMBER EXPERIENCE | 40.00 |
Key Emp
|
$535,802 | $58,613 | $594,415 |
| STACIE WALKER | CHIEF LENDING OFFICER | 40.00 |
Key Emp
|
$507,394 | $68,149 | $575,543 |
| SARA TREXLER | CHIEF ADMINISTRATIVE OFFICER | 40.00 |
Officer
|
$472,678 | $62,586 | $535,264 |
| JENNIFER HAMRICK | CHIEF OPERATIONS DIRECTOR | 40.00 |
Officer
|
$476,312 | $55,685 | $531,997 |
| JOHN SYKES | EVP - DEPUTY CHIEF FINANCIAL OFFICER | 40.00 |
Highest
|
$432,644 | $58,101 | $490,745 |
| CATHY PLAUT | CHIEF LEGAL OFFICER - GENERAL COUNSEL | 40.00 |
Officer
|
$425,099 | $60,021 | $485,120 |
| JAMIE APPLEQUIST | EVP - CHIEF PROPERTY OFFICER | 40.00 |
Officer
|
$411,712 | $57,024 | $468,736 |
| WILLIAM DEANS | EVP - DIRECTOR OF IT OPERATIONS | 40.00 |
Key Emp
|
$359,912 | $45,429 | $405,341 |
| CARL SEABROOK | CHIEF AUDIT AND REGULATORY | 40.00 |
Officer
|
$343,493 | $58,419 | $401,912 |
| ANGELA ROSE | EVP DIRECTOR EPMO & IT FINANCE | 40.00 |
Highest
|
$310,405 | $88,541 | $398,946 |
| EMMA HAYES | CHIEF LEARNING & EXPERIENCE | 40.00 |
Highest
|
$347,312 | $45,030 | $392,342 |
| JONATHAN DALLAIRE | EVP DIRECTOR CHIEF SECURITY OFFICER | 40.00 |
Highest
|
$333,744 | $58,423 | $392,167 |
| DAVID BRUINGTON | ASSOCIATE EVP - REAL ESTATE LENDING | 40.00 |
Highest
|
$329,979 | $57,080 | $387,059 |
| JONATHAN COBURN | EVP LOAN ORGIN. & SYSTEM OPERATIONS | 40.00 |
Key Emp
|
$318,196 | $44,646 | $362,842 |
| SPENCER SCARBORO | EVP LOAN RISK & SERVICING OPERATIONS | 40.00 |
Key Emp
|
$306,190 | $54,643 | $360,833 |
| SARAH THOMPSON | CHIEF RISK OFFICER | 40.00 |
Officer
|
$300,713 | $41,695 | $342,408 |
| MONA MOON | CHAIR | 5.00 |
Officer
Director
|
$0 | $0 | $0 |
| STELFANIE WILLIAMS | VICE CHAIR | 5.00 |
Officer
Director
|
$0 | $0 | $0 |
| JENNIFER HAYGOOD | SECRETARY/TREASURER | 5.00 |
Officer
Director
|
$0 | $0 | $0 |
| CHRIS AYERS | DIRECTOR | 5.00 |
Director
|
$0 | $0 | $0 |
| BOB BRINSON | DIRECTOR | 5.00 |
Director
|
$0 | $0 | $0 |
| MICHAEL CLEMENTS | DIRECTOR | 5.00 |
Director
|
$9,573 | $0 | $9,573 |
| MARK FLEMING | DIRECTOR | 5.00 |
Director
|
$729 | $0 | $729 |
| BEN MCLAWHORN | DIRECTOR | 5.00 |
Director
|
$0 | $0 | $0 |
| BARBARA PERKINS | DIRECTOR | 5.00 |
Director
|
$0 | $0 | $0 |
| CHUCK STONE | DIRECTOR | 5.00 |
Director
|
$0 | $0 | $0 |
| MCKINLEY WOOTEN JR | DIRECTOR | 5.00 |
Director
|
$0 | $0 | $0 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2025 | $2,922,921,560 | $2,645,445,120 | $56,111,610,046 | $277,476,440 |
| 2024 | $2,616,980,178 | $2,414,379,999 | $56,444,772,890 | $202,600,179 |
| 2023 | $2,176,491,752 | $1,593,476,956 | $49,625,413,489 | $583,014,796 |
| 2022 | $1,663,323,190 | $1,107,033,903 | $53,195,296,849 | $556,289,287 |
| 2021 | $1,639,456,686 | $1,206,510,123 | $50,003,058,257 | $432,946,563 |
| 2020 | $1,692,752,969 | $1,486,066,717 | $45,245,519,314 | $206,686,252 |
| 2019 | $1,685,013,461 | $1,441,021,781 | $40,697,542,181 | $243,991,680 |
| 2018 | $1,501,185,216 | $1,207,551,463 | $38,468,314,242 | $293,633,753 |
Compare STATE EMPLOYEES' CREDIT UNION with other nonprofits in North Carolina and across the country.