STATE EMPLOYEES' CREDIT UNION (EIN 560475645) - Form 990 Financial Analysis & Trantor Score

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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

1937

Legal Domicile

Principal Officer

LEIGH BRADY

Phone

9198395000

Tax Period

2024-07-01 to 2025-06-30

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.

Mission

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.

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $2,385,786,215

Investment Income $539,275,710

Other Revenue $-2,140,365

TOTAL REVENUE $2,922,921,560

Expense Breakdown

Grants Paid $377,712

Salaries & Benefits $783,694,889

Fundraising Expenses $0

Other Expenses $729,353,046

TOTAL EXPENSES $2,645,445,120

Year-over-Year Comparison

	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%

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

Governance

Voting Members

Independent Members

Employees

9217

Volunteers

2968

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

$5,245,232

Total Directors

$10,302

Key Employees

$2,298,974

Highest Compensated

reported

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

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	$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

STATE EMPLOYEES' CREDIT UNION