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STATE EMPLOYEES' CREDIT UNION

Form 990Tax year 2022EIN 56-0475645501(c)(14)
Filed May 15, 2024 · period ending Jun 30, 2023
IRS record
End-of-year assets

$49,625,413,489

Net assets $4,052,431,985

Total revenue

$2,176,491,752

Expenses $1,593,476,956

Officer compensation

$7,561,567

31 listed · 24 paid

Contractors listed

5

283 paid over $100K

Organization
Legal name
STATE EMPLOYEES' CREDIT UNION
Website
www.ncsecu.org
Principal officer
JAMES HAYES
Phone
9198395000
Formed
1937
State of domicile
NC
Employees
9,136
Volunteers
3,120
Address
119 N SALISBURY STREET FL 10 · RALEIGH, NC, 27603
Mission
IMPROVE ECONOMIC LIFE, SOCIAL CONDITION, PROVIDE CREDIT AND BROADEN ECONOMIC AWARENESS OF MEMBERS THROUGH PROGRAMS OF CONSUMER PROTECTION.
Financial activity
Contributions$0
Program service revenue$1,775,365,587
Investment income$402,643,859
Total revenue$2,176,491,752
Grants paid$3,473,000
Salaries and benefits$701,023,550
Officer compensation$7,561,567
Total expenses$1,593,476,956
Investment management fees—
Legal fees$1,192,258
Accounting fees$303,750
Other fees for services$15,102,962
Beginning assets$53,195,296,849
Ending assets$49,625,413,489
Liabilities$45,572,981,504
Net assets$4,052,431,985
Publicly traded securities$250,000
Other securities$12,260,346,278
Officers, directors and key employees
Compensation by person
  • JAMES HAYES$1M
  • JERRY HARMON$680K
  • REX SPIVEY$616K
  • LEIGH BRADY$604K
  • JOSHUA BOMBA$498K
  • JENNIFER HAMRICK$482K
  • SARA TREXLER$475K
  • Other (17 more)$4M
Independent contractors
Compensation by contractor
  • ACCURATE TITLE GROUP$27M
  • MAINLINE INFORMATION SYSTEMS INC$7M
  • LOOMIS ARMORED US LLC$6M
  • MICROSOFT LICENSING GP$4M
  • HAYS HOLDING CORPORATION$3M
Part VII Section B · highest paid
Independent contractors
5
ContractorServicesLocationCompensation
ACCURATE TITLE GROUPAPPRAISAL AND TITLE SERVICESINDEPENDENCE, OH$26,961,827
MAINLINE INFORMATION SYSTEMS INCIT SERVICESBIRMINGHAM, AL$7,000,042
LOOMIS ARMORED US LLCSECURITY SERVICESPALATINE, IL$5,780,104
MICROSOFT LICENSING GPSOFTWARE MAINTENANCEDALLAS, TX$4,384,309
HAYS HOLDING CORPORATIONSTAFFING & RECRUITMENTRALEIGH, NC$3,425,347
Part VII Section A
Officers, directors and key employees
31
NameRoleHours / weekCompensationFrom related orgsOther
CHRIS AYERSCHAIRMAN
Trustee or directorOfficer5$0$0$0
ALICE GARLANDVICE CHAIR
Trustee or directorOfficer5$5,172$0$0
MONA MOONSECRETARY/ TREASURER
Trustee or directorOfficer5$0$0$0
MARK FLEMINGDIRECTOR
Trustee or director5$3,711$0$0
STELFANIE WILLIAMSDIRECTOR
Trustee or director5$850$0$0
JO ANNE SANFORDDIRECTOR
Trustee or director5$0$0$0
MCKINLEY WOOTENDIRECTOR
Trustee or director5$709$0$0
KARAN BUNNDIRECTOR (THRU 10/01/2022)
Trustee or director5$0$0$0
JENNIFER HAYGOODDIRECTOR
Trustee or director5$0$0$0
BOB BRINSONDIRECTOR
Trustee or director5$0$0$0
THOMAS PARRISH IVDIRECTOR
Trustee or director5$828$0$0
BEN MCLAWHORNDIRECTOR
Trustee or director5$0$0$0
REX SPIVEYCHIEF FINANCIAL OFFICER
Officer40$573,050$0$43,335
JERRY HARMONCHIEF LENDING OFFICER (THRU 9/6/22)
Officer40$639,890$0$39,873
JAMES HAYESPRESIDENT
Officer40$1,214,451$0$57,003
LEIGH BRADYCHIEF OPERATIONS OFFICER
Officer40$548,052$0$55,828
SARA TREXLERCHIEF LEGAL OFFICER
Officer40$421,485$0$53,658
JOSHUA BOMBACHIEF INFORMATION TECHNOLOGY OFFICER
Officer40$448,547$0$49,683
BRIDGET WELBORNCHIEF RISK OFFICER
Officer40$337,934$0$37,721
EMMA HAYESCHIEF LEARNING & EXPERIENCE OFFICER
Officer40$250,361$0$27,571
CARL SEABROOKCHIEF AUDIT AND REGULATORY OFFICER
Officer40$257,639$0$29,159
STACIE WALKERCHIEF LENDING OFFICER
Officer40$316,652$0$61,762
JENNIFER HAMRICKEVP-DEPUTY CHIEF OPERATIONS OFFICER
Key employee40$433,763$0$48,424
JAMIE APPLEQUISTEVP - CHIEF PROPERTY OFFICER
Key employee40$383,197$0$53,817
WARREN PEACOCKEVP-BRANCH OPERATIONS (THRU 10/12/22)
Key employee40$383,888$0$38,720
ROBERT NICHOLSCHIEF AUDIT OFFICER (THRU 01/20/23)
Key employee40$293,343$0$69,352
WILLIAM DEANSEVP - DIRECTOR OF IT OPERATIONS
Highest compensated40$373,501$0$50,212
KEVIN MACKREGIONAL SVP
Highest compensated40$252,387$0$44,695
THOMAS MARIONREGIONAL SVP
Highest compensated40$290,455$0$43,643
DAMIAN CARTERREGIONAL SVP (THRU 12/04/23)
Highest compensated40$278,330$0$41,624
JARED BENESHEVP - MEMBER EXPERIENCE
Highest compensated40$387,080$0$26,145