STATE CHARTERED CREDIT UNIONS IN NORTH CAROLINA

EIN: 560634448

CHARLOTTE, NC

Total Revenue
$1,665,460
Total Expenses
$2,154,805
Total Assets
$29,890,295
Net Assets
$3,517,390
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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
1954
Legal Domicile
NC
Principal Officer
CHARLES LOWE
Phone
7045230075
Tax Period
2025-01-01 to 2025-12-31

STATE CHARTERED CREDIT UNIONS IN NORTH CAROLINA, founded in 1954, is a community nonprofit that reported $1.7M in total revenue in fiscal year 2025. Revenue grew 14% year-over-year, indicating healthy expansion. Expenses of $2.2M exceeded revenue, resulting in a 29% operating deficit.

Mission

PROVIDING LOW COST LOANS & FINANCIAL SERVICES TO MEMBERS

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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 $1,589,821
Investment Income $70,470
Other Revenue $5,169
TOTAL REVENUE $1,665,460

Expense Breakdown

Grants Paid $0
Salaries & Benefits $659,632
Fundraising Expenses $0
Program Expenses $2,154,805
Other Expenses $1,495,173
TOTAL EXPENSES $2,154,805

Year-over-Year Comparison

2025 2024 Change
Revenue $1,665,460 $1,466,305 +0.1%
Expenses $2,154,805 $2,017,209 +0.1%
Net Income $-489,345 $-550,904 -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
11
Independent Members
11
Employees
7
Volunteers
11

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
1
$114,006
Total Directors
11
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CHARLES LOWE CEO 40.00
Officer
$114,006 $0 $114,006
MICHAEL DYCHES BOARD CHAIRPERSON 2.00
Director
$0 $0 $0
VIRGINIA PARKER BOARD VICE CHAIRPERSON 2.00
Director
$0 $0 $0
TRUDY WIKE BOARD SECRETARY 2.00
Director
$0 $0 $0
LARRY PETTIS BOARD TREASURER 2.00
Director
$0 $0 $0
LISA MCCARTER BOARD MEMBER 2.00
Director
$0 $0 $0
RANDY BOST BOARD MEMBER 2.00
Director
$0 $0 $0
KEVIN SELL BOARD MEMBER 2.00
Director
$0 $0 $0
LINDA SEAWELL BOARD MEMBER 2.00
Director
$0 $0 $0
MILTON HENDERSON BOARD MEMBER 2.00
Director
$0 $0 $0
JOEL ZIELAZIENSKI BOARD MEMBER 2.00
Director
$0 $0 $0
RICKY SIMPSON BOARD MEMBER 2.00
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 $1,665,460 $2,154,805 $29,890,295 $-489,345
2024 $1,466,305 $2,017,209 $28,554,173 $-550,904
2023 $1,325,679 $2,148,826 $29,628,187 $-823,147
2022 $1,251,970 $1,488,970 $32,790,566 $-237,000
2021 $1,276,041 $1,240,210 $31,510,523 $35,831
2020 $1,260,778 $1,249,778 $32,035,812 $11,000
2019 $1,460,905 $1,459,905 $29,683,912 $1,000
2018 $1,517,427 $1,503,162 $31,609,195 $14,265
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