STATE EMPLOYEES CREDIT UNION Charity Report

Public IRS 990 nonprofit record

STATE EMPLOYEES CREDIT UNION

EIN 56-0475645 · Mutual & Membership Benefit (Y)

What they do

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.

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $100.00 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2024The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders31 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

85.52%of revenue went to mission work100.0% of expenses · Program services

$90.51spent for every $100 of revenueRevenue covered expenses this year.

$21.21in assets for every $1 spent this yearSome assets cannot be spent right away.

Ask these three easy questions

Who did you help? Ask for a recent story or report that shows real results.
What will my money do? Ask exactly what your gift will pay for.
Is this really the charity? Give only through its official website or confirmed phone number.

Pay context: The highest compensation shown in this filing is $1,230,909 for LEIGH BRADY (PRESIDENT). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2024

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$1,685,013,461

Mission workProgram services$1,441,021,78185.52% of revenue100.0% of expenses

ManagementOffice and general costs0.00% of revenue0.0% of expenses

FundraisingAsking for donations0.00% of revenue0.0% of expenses

Revenue left after expensesReported annual surplus$243,991,68014.48% of revenueShown in gray on the chart

Total expenses$1,441,021,78185.52% of revenue

Gray means reported revenue left after expenses for this filing year. It does not necessarily mean cash sitting in a bank account.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails

2019CurrentExpense mix: 100.0% mission · 0.0% management · 0.0% fundraisingTotal expenses: 85.52% of revenue

2018Expense mix: 100.0% mission · 0.0% management · 0.0% fundraisingTotal expenses: 80.44% of revenue

2017Expense mix: 100.0% mission · 0.0% management · 0.0% fundraisingTotal expenses: 83.58% of revenue

2016Expense mix: 100.0% mission · 0.0% management · 0.0% fundraisingTotal expenses: 79.87% of revenue

Money in and money out

Revenue$2,922,921,560

Expenses$2,645,445,120

Annual surplus $277,476,440 Revenue was higher than expenses for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$1,441,021,781 · 54.5% of expenses

See all reported dollar amounts

Revenue$2,922,921,560

Expenses$2,645,445,120

Assets$56,111,610,046

Mission work (program services)$1,441,021,781

Grants given$8,107,887

Average grant$176,258

Stocks and bonds$12,819,276,532

Accounting fees$7,507

People

Leadership and board

Tax year 2024

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation

LEIGH BRADYPRESIDENT · 40 hrs/week $1,230,909Base $1,166,503 · Other $64,406

REX SPIVEYCHIEF FINANCIAL OFFICER · 40 hrs/week $649,086Base $600,433 · Other $48,653

JOSHUA BOMBACITO (LEFT 12/13/24) · 40 hrs/week $599,800Base $539,659 · Other $60,141

JARED BENESHEVP - MEMBER EXPERIENCE · 40 hrs/week $594,415Base $535,802 · Other $58,613

STACIE WALKERCHIEF LENDING OFFICER · 40 hrs/week $575,543Base $507,394 · Other $68,149

SARA TREXLERCHIEF ADMINISTRATIVE OFFICER · 40 hrs/week $535,264Base $472,678 · Other $62,586

JENNIFER HAMRICKCHIEF OPERATIONS DIRECTOR · 40 hrs/week $531,997Base $476,312 · Other $55,685

JOHN SYKESEVP - DEPUTY CHIEF FINANCIAL OFFICER · 40 hrs/week $490,745Base $432,644 · Other $58,101

CATHY PLAUTCHIEF LEGAL OFFICER - GENERAL COUNSEL · 40 hrs/week $485,120Base $425,099 · Other $60,021

JAMIE APPLEQUISTEVP - CHIEF PROPERTY OFFICER · 40 hrs/week $468,736Base $411,712 · Other $57,024

WILLIAM DEANSEVP - DIRECTOR OF IT OPERATIONS · 40 hrs/week $405,341Base $359,912 · Other $45,429

CARL SEABROOKCHIEF AUDIT AND REGULATORY · 40 hrs/week $401,912Base $343,493 · Other $58,419

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (31)

LEIGH BRADYPRESIDENT

REX SPIVEYCHIEF FINANCIAL OFFICER

JOSHUA BOMBACITO (LEFT 12/13/24)

JARED BENESHEVP - MEMBER EXPERIENCE

STACIE WALKERCHIEF LENDING OFFICER

SARA TREXLERCHIEF ADMINISTRATIVE OFFICER

JENNIFER HAMRICKCHIEF OPERATIONS DIRECTOR

JOHN SYKESEVP - DEPUTY CHIEF FINANCIAL OFFICER

CATHY PLAUTCHIEF LEGAL OFFICER - GENERAL COUNSEL

JAMIE APPLEQUISTEVP - CHIEF PROPERTY OFFICER

WILLIAM DEANSEVP - DIRECTOR OF IT OPERATIONS

CARL SEABROOKCHIEF AUDIT AND REGULATORY

ANGELA ROSEEVP DIRECTOR EPMO & IT FINANCE

EMMA HAYESCHIEF LEARNING & EXPERIENCE

JONATHAN DALLAIREEVP DIRECTOR CHIEF SECURITY OFFICER

DAVID BRUINGTONASSOCIATE EVP - REAL ESTATE LENDING

JONATHAN COBURNEVP LOAN ORGIN. & SYSTEM OPERATIONS

SPENCER SCARBOROEVP LOAN RISK & SERVICING OPERATIONS

SARAH THOMPSONCHIEF RISK OFFICER

MICHAEL CLEMENTSDIRECTOR

MARK FLEMINGDIRECTOR

GRETCHEN GRIFFITHPRINCIPAL OFFICER

BARBARA PERKINSDIRECTOR

BEN MCLAWHORNDIRECTOR

BOB BRINSONDIRECTOR

CHRIS AYERSDIRECTOR

MCKINLEY WOOTEN JRDIRECTOR

JENNIFER HAYGOODSECRETARY/TREASURER

CHUCK STONEDIRECTOR

STELFANIE WILLIAMSVICE CHAIR

MONA MOONCHAIR

About this charity

Recognized since: January 1969
Location: 119 N SALISBURY STREET FL 10, RALEIGH, NC 27603
County: Wake
In care of: JOHN SYKES
Primary officer: JOHN SYKES, CHIEF FINANCIAL OFFICER

How to reach them

WebsiteVisit the charity’s website Emailinfo@ncsecu.org Phone(919) 839-5000

Filing and classification

Latest tax year: 2024
Tax period began: July 1, 2024
Return type: 990
Tax preparer: CLIFTONLARSONALLEN LLP
NTEE classification: Mutual & Membership Benefit (Y)
IRS tax category: Mutual & Membership Benefit
Grant-giving organization: Yes