State Chartered Credit Unions In North Carolina

Organization Overview

State Chartered Credit Unions In North Carolina is located in Winston Salem, NC. The organization was established in 1969. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2022, State Chartered Credit Unions In North Carolina employed 140 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. State Chartered Credit Unions In North Carolina is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.

For the year ending 12/2022, State Chartered Credit Unions In North Carolina generated $18.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.3% each year. All expenses for the organization totaled $20.3m during the year ending 12/2022. While expenses have increased by 2.1% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

PROVIDE THRIFT SAVINGS AND LENDING SERVICES TO MEMBERS OF COOPERATIVE CREDIT UNIONS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE CREDIT UNION OFFERS VALUABLE BANKING SOLUTIONS TO OVER 38,000 MEMBERS. WITH ACCESS TO OVER 5,000 BRANCHES WITHIN THE SHARED BRANCH NETWORK AND 35,000 SURCHARGE-FREE ATMS, MEMBERSHIP IS OPEN TO INDIVIDUALS, WHO RESIDE, WORK OR WORSHIP IN ONE OF THE EIGHT COMMUNITIES THE CREDIT UNION SERVES IN NORTH CAROLINA OR WHO ARE EMPLOYED BY ONE OF ITS EMPLOYER COMPANIES. IN ADDITION, THE CREDIT UNION IS COMMITTED TO SOCIAL RESPONSIBILITY DIVERSITY INCLUSION TO POSITIVELY IMPACT THE COMMUNITY AND STATE.


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Board, Officers & Key Employees

Name (title)Compensation
Darren Cranfill
Board Member
$0
Justine Lerch
Board Member
$0
George Price
Board Member
$0
Bryan Myers
Board Member
$0
Diana Santos-Johnson
Board Member
$0
Tom Mekis
Chairman
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$16,290,592
Investment income $2,100,691
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $448,550
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $18,839,833

Peer Organizations

Organization NameAssets
State Chartered Credit Unions In North Carolina
Durham, NC
$57,822,762
First South Financial Credit Union
Bartlett, TN
$40,066,306
Southeast Financial Credit Union
Franklin, TN
$29,260,817
Credit Union Of Georgia
Kennesaw, GA
$33,020,321
Memphis City Employees Credit Union
Memphis, TN
$23,689,199
State Chartered Credit Unions In North Carolina
Winston Salem, NC
$18,839,833
State Chartered Credit Unions In North Carolina
Winston Salem, NC
$26,897,077
The Tennessee Credit Union
Nashville, TN
$19,477,558
Cornerstone Financial Credit Union
Nashville, TN
$23,967,218
U S Community Credit Union
Nashville, TN
$19,517,866
State Chartered Credit Unions In
Canton, NC
$21,314,879
State Chartered Credit Unions In North Carolina
Greensboro, NC
$18,701,954
Spc Credit Union
Hartsville, SC
$15,750,567
Membersfirst Credit Union 2050 Lawrenceville Hwy Ste C-40
Decatur, GA
$17,444,196
Old Hickory Credit Union
Old Hickory, TN
$14,832,560
Interstate Paper Federal Credit Union
Jesup, GA
$18,616,471
Southeastern Federal Credit Union
Valdosta, GA
$15,882,953
State Chartered Credit Unions In North Carolina
Waynesville, NC
$17,481,627
Telco Community Credit Union
Candler, NC
$16,867,383
Marshland Credit Union
Brunswick, GA
$10,375,545
Bowater Employees Credit Union
Calhoun, TN
$12,161,157
Credit Unions Chartered In The State Of South Carolina
Georgetown, SC
$11,725,184
Scenic Community Credit Union
Hixson, TN
$8,288,565
Lowland Credit Union
Morristown, TN
$7,302,104
Mygeorgia Credit Union
Gainesville, GA
$10,094,883

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