Civic Intelligence

State Chartered Credit Unions Inc

990 • Fiscal year 2018 • EIN 56-0475645

Jul 01, 2017 to Jun 30, 2018 • Filed on Mar 15, 2019

119 N Salisbury Street No FL 10Raleigh, NC 27603

(919) 839-5084

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

96th percentile

0.92x

Higher debt load relative to assets than 96% of similar nonprofits.

2018 filings • 501(c)14 • $1B+ nonprofits • Source year 2018

Liabilities / Revenue

91st percentile

23.63x

Higher debt load relative to revenue than 91% of similar nonprofits.

2018 filings • 501(c)14 • $1B+ nonprofits • Source year 2018

Net Margin

56th percentile

20%

Higher net margin than 56% of similar nonprofits.

2018 filings • 501(c)14 • $1B+ nonprofits • Source year 2018

Top Officer Pay

29th percentile

$670,276

Higher top officer pay than 29% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2018 filings • 501(c)14 • $1B+ nonprofits • Source year 2018

Asset Growth

32nd percentile

4.2%

Faster asset growth than 32% of similar nonprofits.

2018 filings • 501(c)14 • $1B+ nonprofits • Annualized from 2017 to 2018

Revenue Growth

71st percentile

16%

Faster revenue growth than 71% of similar nonprofits.

2018 filings • 501(c)14 • $1B+ nonprofits • Annualized from 2017 to 2018

Assets

Up

$38,468,314,242

Up $1,534,538,894 (+4.2%) from 2017

Net Assets

Up

$2,999,393,094

Up $165,916,142 (+5.9%) from 2017

Liabilities

Up

$35,468,921,148

Up $1,368,622,752 (+4.0%) from 2017

Revenue

Up

$1,501,185,216

Up $211,762,900 (+16%) from 2017

Expenses

Up

$1,207,551,463

Up $129,894,696 (+12%) from 2017

Net Income

Up

$293,633,753

Up $81,868,204 (+39%) from 2017

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$60B$40B$20B$0Assets 2010: $21,038,409,107Liabilities 2010: $19,540,244,330Net Assets 2010: $1,498,164,7772010Assets 2011: $23,061,232,954Liabilities 2011: $21,404,794,165Net Assets 2011: $1,656,438,7892011Assets 2012: $25,097,413,322Liabilities 2012: $23,291,853,584Net Assets 2012: $1,805,559,7382012Assets 2013: $26,799,238,232Liabilities 2013: $24,868,597,085Net Assets 2013: $1,930,641,1472013Assets 2015: $30,876,123,778Liabilities 2015: $28,477,870,587Net Assets 2015: $2,398,253,1912015Assets 2016: $33,825,999,547Liabilities 2016: $31,191,812,372Net Assets 2016: $2,634,187,1752016Assets 2017: $36,933,775,348Liabilities 2017: $34,100,298,396Net Assets 2017: $2,833,476,9522017Assets 2018: $38,468,314,242Liabilities 2018: $35,468,921,148Net Assets 2018: $2,999,393,0942018Assets 2019: $40,697,542,181Liabilities 2019: $37,329,329,818Net Assets 2019: $3,368,212,3632019Assets 2020: $45,245,519,314Liabilities 2020: $41,540,781,392Net Assets 2020: $3,704,737,9222020Assets 2021: $50,003,058,257Liabilities 2021: $46,094,531,107Net Assets 2021: $3,908,527,1502021Assets 2022: $53,195,296,849Liabilities 2022: $49,499,633,455Net Assets 2022: $3,695,663,3942022Assets 2023: $49,625,413,489Liabilities 2023: $45,572,981,504Net Assets 2023: $4,052,431,9852023

Highlighted filing

2018

Assets$38,468,314,242
Liabilities$35,468,921,148
Net Assets$2,999,393,094

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$3.0B$2.0B$1.0B$0Expenses 2010: $807,380,1892010Expenses 2011: $836,541,3462011Expenses 2012: $775,578,4272012Expenses 2013: $747,989,9572013Revenue 2015: $1,088,638,044Expenses 2015: $836,183,024Net Income 2015: $252,455,0202015Revenue 2016: $1,205,116,084Expenses 2016: $962,503,799Net Income 2016: $242,612,2852016Revenue 2017: $1,289,422,316Expenses 2017: $1,077,656,767Net Income 2017: $211,765,5492017Revenue 2018: $1,501,185,216Expenses 2018: $1,207,551,463Net Income 2018: $293,633,7532018Revenue 2019: $1,685,013,461Expenses 2019: $1,441,021,781Net Income 2019: $243,991,6802019Revenue 2020: $1,692,752,969Expenses 2020: $1,486,066,717Net Income 2020: $206,686,2522020Revenue 2021: $1,639,456,686Expenses 2021: $1,206,510,123Net Income 2021: $432,946,5632021Revenue 2022: $1,663,323,190Expenses 2022: $1,107,033,903Net Income 2022: $556,289,2872022Revenue 2023: $2,176,491,752Expenses 2023: $1,593,476,956Net Income 2023: $583,014,7962023

Highlighted filing

2018

Revenue$1,501,185,216
Expenses$1,207,551,463
Net Income$293,633,753
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Mar 15, 2019
Return Version
2017v2.3
Gross Receipts
$1,545,050,548
Mission and Program Overview

Mission

As a financial cooperative owned by our members, our mission is to improve the economic life and social condition of members, to encourage thrift, to provide a source of credit at a fair and reasonable rate of interest and to broaden the economic awareness of members through programs of consumer protection.

Improve economic life, social condition, provide credit & broaden economic awareness.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$20,672,212,679$21,871,723,422▲ $1,199,510,743
Savings and Temporary Cash Investments$9,105,633,624$9,433,517,363▲ $327,883,739
Investments Other Securities$5,153,556,920$5,011,953,346▼ $141,603,574
Rtn Earn Endowment Incm Other Fnds$2,833,476,952$2,999,393,094▲ $165,916,142
Land, Buildings, and Equipment, Net$758,166,525$837,259,874▲ $79,093,349
Cash and Non-Interest-Bearing Accounts$595,373,670$522,033,574▼ $73,340,096
Prepaid Expenses and Deferred Charges$21,198,213$27,517,061▲ $6,318,848
Investments in Publicly Traded Securities$338,912$338,912→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$36,933,775,348$38,468,314,242▲ $1,534,538,894
Other Assets Total$627,294,805$763,970,690▲ $136,675,885
Liabilities
Other Liabilities$33,900,991,667$35,256,038,367▲ $1,355,046,700
Escrow Account Liability$165,446,835$175,644,841▲ $10,198,006
Accounts Payable and Accrued Expenses$33,859,894$37,237,940▲ $3,378,046
Total Liabilities$34,100,298,396$35,468,921,148▲ $1,368,622,752
Net Assets / Fund Balance
Total Net Assets Fund Balance$2,833,476,952$2,999,393,094▲ $165,916,142
Total Liabilities and Net Assets / Fund Balance$36,933,775,348$38,468,314,242▲ $1,534,538,894

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$471,257,557$188,551,544-
Land$218,442,672--
Equipment$146,943,838$311,542,887-
Leasehold Improvements$615,807$5,681,364-
Other Securities$249,000--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Michael J LordPresidentFT$607,555$62,721$670,276
Rex SpiveyChief Financial OfficerFT$341,987$80,994$422,981
Sue a DouglasChief Operations OfficerFT$321,084$100,140$421,224
Chris AyerChief Information OfficerFT$297,705$109,195$406,900
Wallace W UmphlettEvp - Financial Advisory ServicesFT$299,230$78,163$377,393
Jerry HarmonChief Lending OfficerFT$295,612$76,901$372,513
Randy PartinChief Audit OfficerFT$274,259$78,799$353,058
Leigh BradyEvp - Organization DevelopmentFT$259,889$84,490$344,379
Steven HerrellChief Risk OfficerFT$221,540$95,352$316,892
Sara TrexlerChief Legal OfficerPT$229,787$79,138$308,925
Jennifer HamrickEvp-organizational SupportFT$241,257$60,644$301,901
Jamie ApplequistEvp - Branch OperationsFT$239,122$61,424$300,546
Edward T Hoffman JrEvp-property ManagementFT$199,426$87,909$287,335
Richard RhoadsSVP-electronic ServicesFT$194,759$70,834$265,593
William DeansSVP - Infrastructure ServicesFT$197,680$55,027$252,707
Thomas K MarionSVP-districtFT$159,924$79,540$239,464
Joseph BanksSVP-districtFT$158,503$79,281$237,784
Robert DixonSVP-corporate Quality ControlFT$138,858$96,488$235,346
Mckinley WootenDirectorPT$1,469-$1,469

Board Members and Trustees

NameTitle
Joanne SanfordChairman
Bob BrinsonVice Chairman
Alice GarlandDirector
Chris AyersDirector
Cynthia JollyDirector
Jim JohnsonDirector
Karan BunnDirector
Shirley BellDirector
Stelfanie WilliamsDirector
Mona MoonSecretary/treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
World-wide Technology Holding Co LLCEquipment VendorPO BOX 957653, St Louis, MO 43195-7653$8,208,560
Presidio Netwroked SolutionsEquipment VendorPO BOX 822169, Phildelphia, PA 19182-2169$7,533,145
Daniels And Daniels Construction CoConstruction Of BranchPO BOX 10337, Goldsboro, NC 27532-0337$5,435,016
Racanelli Construction SouthConstruction Of Branch1091 PEMBERTON HILL ROAD SUITE 102, Apex, NC 27502$4,092,715
Wittenbach Business SystemsEquipment Vendor100 SPARKS VALLEY ROAD SUITE B, Sparks, MD 21152$3,407,437
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,282,476,412
Investment Income
$218,583,379
Other Revenue
$125,425
Change in Net Assets
$293,633,753

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,501,294,093
Revenue Not Reported on Financial Statements
$-108,877
Revenue Not Reported on Form 990
$22,030,016
Other Revenue Adjustments
$-108,877
Total Revenue per Audited Statements
$1,523,324,109
Total Revenue per Form 990
$1,501,185,216
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$733,013,786
Salaries, Compensation, and Employee Benefits$474,537,677
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$359,723,371
Interest---$353,018,809
Depreciation Depletion---$62,677,690
Other Employee Benefits---$48,159,586
Occupancy---$35,499,980
Pension Plan Contributions---$34,405,256
All Other Expenses---$27,747,388
Payroll Taxes---$27,089,559
Office Expenses---$22,563,055
Current Officers, Directors, Trustees, and Key Employees---$5,159,905
Other Expenses---$4,844,707
Fees for Services Other---$4,024,163
Travel---$3,702,154
Fees for Services Accounting---$528,134
Conferences and Meetings---$440,473
Insurance---$376,215
Fees for Services Legal---$335,174
Total Functional Expenses$0$0$0$1,207,551,463

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,227,063,797
Expenses per Audited Statements$1,207,551,463
Total Expenses per Form 990$1,207,551,463
Expenses Not Reported on Form 990$19,512,334
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Member Deposits$35,219,343,790
Other Liabilities$36,694,577
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

Secu is a non-profit financial cooperative owned by and operated for the benefit of its 2,200,000 members.

Form 990, Part VI, Section A, Line 7A

Secu member/owners elect the board of directors. Each member of the organization is entitled to one vote. Eleven board members serve three year staggered terms. Elections for open seats are held each year during the annual members' meeting.

Form 990, Part VI, Section A, Line 7B

Secu members have the right to vote on the merger of the organization into another financial institution, dissolution of the credit union, conversion from a state to a federally chartered credit union or the conversion to another type of financial institution.

Form 990, Part VI, Section B, Line 11B

The return is completed by the finance and accounting department staff of the organization and reviewed by the chief financial officer and the president before filing. A copy of the 990 form is made available to the board of directors after it is filed.

Form 990, Part VI, Section B, Line 12C

Each employee of the organization must acknowledge having read the code of ethics annually. The organization provides a toll free, anonymous honor line through an outside, independent vendor. Employees are encouraged to report all violations of the ethics, operations, lending, and personnel policies. All information received through the honor line is forwarded to audit services and human resources departments for review and action. Details of all reported incidents and resolutions are shared with senior management and the board of directors on a monthly basis. All reports are investigated thoroughly and resolved in a timely manner.

Form 990, Part VI, Section B, Line 15

The board of directors sets the salary and benefits of the president. A formal annual review of the performance of the president is conducted by the board of directors. In addition, a compensation committee, comprised of members of the board of directors, utilizes surveys and market comparisons of peer credit unions and other financial institutions to benchmark the compensation package of the president. These surveys are independently obtained from compensation consultants contracted by the secu hr department. The board of directors reviews the compensation surveys, recommendations of the compensation committee, the performance of the president and the credit union, and sets the salary and benefits level of the president. Periodic salary surveys and benchmarking are likewise obtained for all staff and management positions of the organization. There is no incentive or commission based compensation for any employee. All employees receive a salary.

Form 990, Part VI, Section C, Line 19

The governing documents of the organization are made available upon request. A summary of the financial statements are made available monthly on the organization's web site, along with periodic updates of the financial condition of the organization. The annual report to the membership and the complete audited financial statements with footnotes are available on the organization's website with paper copies available on request.

Filing and Contact Details

Filer

Filer Name
STATE EMPLOYEES' CREDIT UNION
EIN
56-0475645
Phone
9198395084
Address
119 N SALISBURY STREET NO FL 10, RALEIGH, NC 27603

Signing Officer

Name
Rex Spivey
Title
Chief Financial Officer
Phone
9198395084
Signed
2019-03-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael J Lord
Formed
1937
Legal Domicile
Nc
Voting Board Members
11
Independent Board Members
11
Employees
7,000
Volunteers
3,410

Preparer

Firm
Cliftonlarsonallen Llp
Address
1966 GREENSPRING DRIVE SUITE 300, TIMONIUM, MD 21093-4161
Preparer
Hemali Patel
Phone
4104530900
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Unamortized loss on postretirement accounts -4,673,975.

Financial Statement Notes

PART IV, LINE 2B:

The credit union maintains escrow accounts on members' first mortgage loans as a service to our members. Interest is paid at a savings account rate as an additional benefit. These accounts are funded on a monthly basis by the members. The proceeds are used to pay the property taxes and insurance on the real property secured by the first mortgage.

PART X, LINE 2:

The credit union has evaluated its tax positions and determined no uncertain tax positions exist as of june 30, 2018 and 2017. By law, at a minimum, business tax returns are subject to examination by federal and state tax authorities for the years june 30, 2015 through june 30, 2018.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Revenue from subsidiaries 20,933,378. Loss on sale of reo 17,157. Loss on sale of fixed assets 412,734. Loss on sale of cil 666,747.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Rental expenses -108,877.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Expenses from subsidiaries 18,306,819. Loss on sale of reo 17,157. Loss on sale of fixed assets 412,734. Loss on sale of cil 666,747. Rental expenses 108,877.

Raw XML AppendixShowing 400 of 1,040 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Desc0THE STATE EMPLOYEES' CREDIT UNION IS OWNED BY OUR 2.2 MILLION MEMBERS. SECU PROVIDES SERVICES TO OUR MEMBERS THROUGH 263 BRANCH OFFICES, OVER 1,000 ATMS, 24/7 CONTACT CENTERS, AND A WEBSITE - WWW.NCSECU.ORG. AS A CREDIT UNION, MEMBERS DEPOSIT FUNDS INTO SHARE ACCOUNTS, WHICH ARE THEN LOANED TO OTHER MEMBERS. THE CREDIT UNION OFFERS SHARE ACCOUNTS OF VARIOUS TYPES - MEMBERSHIP SHARES, SHARE DRAFTS, MONEY MARKET SHARES, IRA SHARES, AND SHARE TERM CERTIFICATES. LOANS TO MEMBERS CONSIST OF MORTGAGE, HOME EQUITY, AUTO, AND OTHER CONSUMER LOANS. AT JUNE 30, 2018, THERE WERE 814,000 PERSONAL LOANS AND 173,000 FIRST AND SECOND MORTGAGE LOANS OUTSTANDING. THE CREDIT UNION RECEIVED $1,501,059,791 IN REVENUES FROM INTEREST ON LOANS, INTEREST ON INVESTMENTS, AND OTHER NON-INTEREST SOURCES DURING THE YEAR ENDED JUNE 30, 2018. THE COST OF PROVIDING SERVICES TO CREDIT UNION MEMBERS WAS $1,207,551,463 FOR THE YEAR. THE COST OF SERVICES CONSISTS OF INTEREST PAID ON SHARE ACCOUNTS, SALARIES, BUILDING EXPENSES, EQUIPMENT EXPENSES, AND OTHER OPERATIONAL EXPENSES.
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IRS990/Form990PartVIISectionAGrp/PersonNm1BOB BRINSON
IRS990/Form990PartVIISectionAGrp/PersonNm2MONA MOON
IRS990/Form990PartVIISectionAGrp/PersonNm3CHRIS AYERS
IRS990/Form990PartVIISectionAGrp/PersonNm4SHIRLEY BELL
IRS990/Form990PartVIISectionAGrp/PersonNm5KARAN BUNN
IRS990/Form990PartVIISectionAGrp/PersonNm6ALICE GARLAND
IRS990/Form990PartVIISectionAGrp/PersonNm7JIM JOHNSON
IRS990/Form990PartVIISectionAGrp/PersonNm8CYNTHIA JOLLY
IRS990/Form990PartVIISectionAGrp/PersonNm9STELFANIE WILLIAMS
IRS990/Form990PartVIISectionAGrp/PersonNm10MCKINLEY WOOTEN
IRS990/Form990PartVIISectionAGrp/PersonNm11MICHAEL J LORD
IRS990/Form990PartVIISectionAGrp/PersonNm12REX SPIVEY
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IRS990/Form990PartVIISectionAGrp/PersonNm15RANDY PARTIN
IRS990/Form990PartVIISectionAGrp/PersonNm16JERRY HARMON
IRS990/Form990PartVIISectionAGrp/PersonNm17LEIGH BRADY
IRS990/Form990PartVIISectionAGrp/PersonNm18JENNIFER HAMRICK
IRS990/Form990PartVIISectionAGrp/PersonNm19JAMIE APPLEQUIST
IRS990/Form990PartVIISectionAGrp/PersonNm20WALLACE W UMPHLETT
IRS990/Form990PartVIISectionAGrp/PersonNm21EDWARD T HOFFMAN JR
IRS990/Form990PartVIISectionAGrp/PersonNm22STEVEN HERRELL
IRS990/Form990PartVIISectionAGrp/PersonNm23SARA TREXLER
IRS990/Form990PartVIISectionAGrp/PersonNm24WILLIAM DEANS
IRS990/Form990PartVIISectionAGrp/PersonNm25THOMAS K MARION
IRS990/Form990PartVIISectionAGrp/PersonNm26RICHARD RHOADS
IRS990/Form990PartVIISectionAGrp/PersonNm27JOSEPH BANKS
IRS990/Form990PartVIISectionAGrp/PersonNm28ROBERT DIXON
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IRS990/Form990PartVIISectionAGrp/TitleTxt0CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY/TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt12CHIEF FINANCIAL OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt13CHIEF OPERATIONS OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt14CHIEF INFORMATION OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt15CHIEF AUDIT OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt16CHIEF LENDING OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt17EVP - ORGANIZATION DEVELOPMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt18EVP-ORGANIZATIONAL SUPPORT
IRS990/Form990PartVIISectionAGrp/TitleTxt19EVP - BRANCH OPERATIONS
IRS990/Form990PartVIISectionAGrp/TitleTxt20EVP - FINANCIAL ADVISORY SERVICES
IRS990/Form990PartVIISectionAGrp/TitleTxt21EVP-PROPERTY MANAGEMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt22CHIEF RISK OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt23CHIEF LEGAL OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt24SVP - INFRASTRUCTURE SERVICES
IRS990/Form990PartVIISectionAGrp/TitleTxt25SVP-DISTRICT
IRS990/Form990PartVIISectionAGrp/TitleTxt26SVP-ELECTRONIC SERVICES
IRS990/Form990PartVIISectionAGrp/TitleTxt27SVP-DISTRICT
IRS990/Form990PartVIISectionAGrp/TitleTxt28SVP-CORPORATE QUALITY CONTROL
IRS990/Form990ProvidedToGvrnBodyInd00
IRS990/Form990TFiledInd01
IRS990/FormationYr01937
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IRS990/MissionDesc0AS A FINANCIAL COOPERATIVE OWNED BY OUR MEMBERS, OUR MISSION IS TO IMPROVE THE ECONOMIC LIFE AND SOCIAL CONDITION OF MEMBERS, TO ENCOURAGE THRIFT, TO PROVIDE A SOURCE OF CREDIT AT A FAIR AND REASONABLE RATE OF INTEREST AND TO BROADEN THE ECONOMIC AWARENESS OF MEMBERS THROUGH PROGRAMS OF CONSUMER PROTECTION.
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IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
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IRS990/OtherExpensesGrp/Desc0PROVISION FOR LOAN LOSS
IRS990/OtherExpensesGrp/Desc1EQUIPMENT REPAIR AND MA
IRS990/OtherExpensesGrp/Desc2CARD PROCESSING FEES
IRS990/OtherExpensesGrp/Desc3ATM NETWORK EXHCHANGE C
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IRS990/OtherExpensesGrp/TotalAmt34844707
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IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$49,625$45,573$4,052$2,176$1,593$583
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$53,195$49,500$3,696$1,663$1,107$556
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$50,003$46,095$3,909$1,639$1,207$433
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$45,246$41,541$3,705$1,693$1,486$207
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$40,698$37,329$3,368$1,685$1,441$244
2018Detailed filing. Detailed filing data is available for this year.$38,468$35,469$2,999$1,501$1,208$294
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$36,934$34,100$2,833$1,289$1,078$212
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$33,826$31,192$2,634$1,205$963$243
2015Detailed filing. Detailed filing data is available for this year.$30,876$28,478$2,398$1,089$836$252
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$26,799$24,869$1,931$748
2012XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$25,097$23,292$1,806$776
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$23,061$21,405$1,656$837
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$21,038$19,540$1,498$807
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2018 filings • 501(c)14 • $1B+ nonprofits