STATE CHARTERED CREDIT UNIONS IN NORTH CAROLINA

EIN: 560713351

GREENSBORO, NC

Total Revenue
$3,507,091
Total Expenses
$3,106,668
Total Assets
$49,219,270
Net Assets
$6,671,639
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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
1955
Legal Domicile
NC
Principal Officer
GENICE DECORTE
Phone
3368328206
Tax Period
2025-01-01 to 2025-12-31

STATE CHARTERED CREDIT UNIONS IN NORTH CAROLINA, founded in 1955, is a community nonprofit that reported $3.5M in total revenue in fiscal year 2025. Expenses of $3.1M left a modest 11% surplus.

Mission

Programs of credit unions offering personal financial services exclusively to the 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 $3,228,752
Investment Income $278,339
Other Revenue $0
TOTAL REVENUE $3,507,091

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,156,282
Fundraising Expenses $0
Program Expenses $3,116,668
Other Expenses $1,950,386
TOTAL EXPENSES $3,106,668

Year-over-Year Comparison

2025 2024 Change
Revenue $3,507,091 $3,538,402 0.0%
Expenses $3,106,668 $3,282,302 -0.1%
Net Income $400,423 $256,100 +0.6%
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
12
Volunteers
17

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
2
$427,888
Total Directors
11
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Genice DeCorte CEO 40.00
Officer
$291,084 $0 $291,084
Keith Ross Board Chairperson 2.00
Director
$0 $0 $0
Jean Johnson Board Treasurer 2.00
Director
$0 $0 $0
Myra Kelly Board Member 2.00
Director
$0 $0 $0
Cheryl Somers Board Vice Chairperson 2.00
Director
$0 $0 $0
Michelle Adamolekun Board Member 2.00
Director
$0 $0 $0
Debra Miller Board Member 2.00
Director
$0 $0 $0
Diana Turner Board Member 2.00
Director
$0 $0 $0
David Plyler Board Member 2.00
Director
$0 $0 $0
Youland Williams Board Member 2.00
Director
$0 $0 $0
Deanne Brooks Board Member 2.00
Director
$0 $0 $0
Smita Glosson Board Secretary Board Member 2.00
Director
$0 $0 $0
Daniel Griffith COO 40.00
Officer
$136,804 $0 $136,804
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 $3,507,091 $3,106,668 $49,219,270 $400,423
2024 $3,538,402 $3,282,302 $50,841,653 $256,100
2023 $2,988,299 $2,610,804 $51,534,170 $377,495
2022 $2,477,711 $2,098,205 $47,337,444 $379,506
2021 $2,497,888 $2,134,283 $46,175,103 $363,605
2020 $2,225,021 $1,937,397 $43,271,655 $287,624
2019 $1,901,133 $1,603,314 $37,037,994 $297,819
2018 $1,701,701 $1,499,277 $35,845,599 $202,424
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