Civic Intelligence

Spc Credit Union

EIN 57-6020340 • 501(c)14 • Hartsville, SC

View Organization Page

Profile

State chartered credit union

PO Box 1355Hartsville, SC 29551

www.spccu.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

89th percentile

0.93x

Higher debt load relative to assets than 89% of similar nonprofits.

501(c)14 • $100M-$250M nonprofits • Source year 2023

Liabilities / Revenue

33rd percentile

14.06x

Higher debt load relative to revenue than 33% of similar nonprofits.

501(c)14 • $100M-$250M nonprofits • Source year 2023

Net Margin

44th percentile

10%

Higher net margin than 44% of similar nonprofits.

501(c)14 • $100M-$250M nonprofits • Source year 2023

Top Officer Pay

37th percentile

$139,717

Higher top officer pay than 37% of similar nonprofits.

Top officer pay equals 1.3% of source-year revenue.

$100M-$250M nonprofits • Source year 2018

Asset Growth

22nd percentile

-1.6%

Faster asset growth than 22% of similar nonprofits.

501(c)14 • $100M-$250M nonprofits • Annualized from 2022 to 2023

Revenue Growth

55th percentile

16%

Faster revenue growth than 55% of similar nonprofits.

501(c)14 • $100M-$250M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets89th percentile

Assets

Up

$240,682,854

Up $1,351,528 (+0.6%) from 2023

Liabilities

Down

$216,791,916

Down $4,733,189 (-2.1%) from 2023

Net Assets

Up

$23,890,938

Up $6,084,717 (+34%) from 2023

Operations
Liabilities / Revenue33rd percentileNet Margin44th percentile

Revenue

Up

$19,796,776

Up $4,046,209 (+26%) from 2023

Expenses

Up

$15,619,814

Up $1,451,658 (+10%) from 2023

Net Income

Up

$4,176,962

Up $2,594,551 (+164%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth22nd percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$300M$200M$100M$0Assets 2010: $108,676,738Liabilities 2010: $97,699,517Net Assets 2010: $10,977,2212010Assets 2011: $116,466,517Liabilities 2011: $105,112,028Net Assets 2011: $11,354,4892011Assets 2012: $121,793,977Liabilities 2012: $110,418,152Net Assets 2012: $11,375,8252012Assets 2013: $126,086,116Liabilities 2013: $114,633,990Net Assets 2013: $11,452,1262013Assets 2014: $133,607,014Liabilities 2014: $122,488,189Net Assets 2014: $11,118,8252014Assets 2015: $144,661,279Liabilities 2015: $133,812,425Net Assets 2015: $10,848,8542015Assets 2016: $151,079,504Liabilities 2016: $139,641,481Net Assets 2016: $11,438,0232016Assets 2017: $158,134,943Liabilities 2017: $146,057,391Net Assets 2017: $12,077,5522017Assets 2018: $160,522,294Liabilities 2018: $148,349,395Net Assets 2018: $12,172,8992018Assets 2019: $164,592,799Liabilities 2019: $150,629,286Net Assets 2019: $13,963,5132019Assets 2020: $207,674,821Liabilities 2020: $193,450,024Net Assets 2020: $14,224,7972020Assets 2021: $231,524,692Liabilities 2021: $215,850,625Net Assets 2021: $15,674,0672021Assets 2022: $243,239,953Liabilities 2022: $226,517,822Net Assets 2022: $16,722,1312022Assets 2023: $239,331,326Liabilities 2023: $221,525,105Net Assets 2023: $17,806,2212023Assets 2024: $240,682,854Liabilities 2024: $216,791,916Net Assets 2024: $23,890,9382024

Highlighted filing

2024

Assets$240,682,854
Liabilities$216,791,916
Net Assets$23,890,938
Open 2024 Filing

Operations Trend

Revenue Growth55th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$20M$15M$10M$5.0M$0Expenses 2010: $7,980,4362010Expenses 2011: $7,879,8042011Expenses 2012: $7,943,2582012Revenue 2013: $8,422,695Expenses 2013: $7,953,294Net Income 2013: $469,4012013Revenue 2014: $8,263,881Expenses 2014: $8,001,526Net Income 2014: $262,3552014Revenue 2015: $8,858,356Expenses 2015: $8,431,121Net Income 2015: $427,2352015Revenue 2016: $9,087,478Expenses 2016: $8,788,749Net Income 2016: $298,7292016Revenue 2017: $9,434,038Expenses 2017: $8,791,817Net Income 2017: $642,2212017Revenue 2018: $10,397,338Expenses 2018: $9,079,396Net Income 2018: $1,317,9422018Revenue 2019: $11,666,247Expenses 2019: $10,088,717Net Income 2019: $1,577,5302019Revenue 2020: $11,834,754Expenses 2020: $10,680,783Net Income 2020: $1,153,9712020Revenue 2021: $12,295,768Expenses 2021: $11,162,816Net Income 2021: $1,132,9522021Revenue 2022: $13,550,656Expenses 2022: $11,601,765Net Income 2022: $1,948,8912022Revenue 2023: $15,750,567Expenses 2023: $14,168,156Net Income 2023: $1,582,4112023Revenue 2024: $19,796,776Expenses 2024: $15,619,814Net Income 2024: $4,176,9622024

Highlighted filing

2024

Revenue$19,796,776
Expenses$15,619,814
Net Income$4,176,962
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$240,682,854
Liabilities
$216,791,916
Net assets
$23,890,938
Revenue
$19,796,776
Expenses
$15,619,814
Net income
$4,176,962
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$241$217$23.9$19.8$15.6$4.18
2023Detailed filing. Detailed filing data is available for this year.$239$222$17.8$15.8$14.2$1.58
2022Detailed filing. Detailed filing data is available for this year.$243$227$16.7$13.6$11.6$1.95
2021Detailed filing. Detailed filing data is available for this year.$232$216$15.7$12.3$11.2$1.13
2020Detailed filing. Detailed filing data is available for this year.$208$193$14.2$11.8$10.7$1.15
2019Detailed filing. Detailed filing data is available for this year.$165$151$14.0$11.7$10.1$1.58
2018Detailed filing. Detailed filing data is available for this year.$161$148$12.2$10.4$9.08$1.32
2017Detailed filing. Detailed filing data is available for this year.$158$146$12.1$9.43$8.79$0.64
2016Detailed filing. Detailed filing data is available for this year.$151$140$11.4$9.09$8.79$0.30
2015Detailed filing. Detailed filing data is available for this year.$145$134$10.8$8.86$8.43$0.43
2014Detailed filing. Detailed filing data is available for this year.$134$122$11.1$8.26$8.00$0.26
2013Detailed filing. Detailed filing data is available for this year.$126$115$11.5$8.42$7.95$0.47
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$122$110$11.4$7.94
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$116$105$11.4$7.88
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$109$97.7$11.0$7.98
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Apr 29, 2025
Return Version
2024v5.0
Gross Receipts
$19,796,776
Mission and Program Overview

Mission

State chartered credit union

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$173,780,769$159,610,226▼ $14,170,543
Savings and Temporary Cash Investments$6,184,123$28,784,349▲ $22,600,226
Rtn Earn Endowment Incm Other Fnds$17,806,221$23,890,938▲ $6,084,717
Investments in Publicly Traded Securities$21,473,027$12,419,728▼ $9,053,299
Cash and Non-Interest-Bearing Accounts$13,200,994$11,905,750▼ $1,295,244
Land, Buildings, and Equipment, Net$6,695,860$7,848,931▲ $1,153,071
Total Assets$239,331,326$240,682,854▲ $1,351,528
Other Assets Total$17,996,553$20,113,870▲ $2,117,317
Liabilities
Other Liabilities$204,193,188$211,197,374▲ $7,004,186
Accounts Payable and Accrued Expenses$7,164,626$2,931,463▼ $4,233,163
Unsecured Notes Loans Payable$10,000,000$2,500,000▼ $7,500,000
Escrow Account Liability$167,291$163,079▼ $4,212
Total Liabilities$221,525,105$216,791,916▼ $4,733,189
Net Assets / Fund Balance
Total Net Assets Fund Balance$17,806,221$23,890,938▲ $6,084,717
Total Liabilities and Net Assets / Fund Balance$239,331,326$240,682,854▲ $1,351,528

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,995,114$5,853,041$7,848,155
Equipment$3,357,829$3,151,638$6,509,467
Land$2,495,988-$2,495,988
Other Assets Org$519,613--
Compensation and Service Providers
Top Officer Pay37th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Linda WeatherfordPresident/ceFT$182,910$182,910
Linda WeatherfordPresident/CEO-$182,910$182,910
Billy ByrdCFOFT$141,126$141,126
Latasha CooperVP LendingFT$117,609$117,609
Thomas BeasleyCIOFT$105,732$105,732
Elaine S HungerpillerVP HrFT$104,447$104,447

Board Members and Trustees

NameTitle
Travis WaltersChairman
Jerry CheathamVice Chairma
Lynn HarrelsonBoard Member
Peggi DavisBoard Member
Richard CookBoard Member
Sylvester WilsonBoard Member
Jimmy ShelleySecretary/tr
Revenue and Support

Revenue Composition

Contributions and Grants
$2,698,839
Program Service Revenue
$15,985,286
Investment Income
$1,112,651
Other Revenue
$0
Change in Net Assets
$4,176,962

Audited Revenue Reconciliation

Revenue per Audited Statements
$19,796,776
Total Revenue per Audited Statements
$19,796,776
Total Revenue per Form 990
$19,796,776
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$10,578,896
Salaries, Compensation, and Employee Benefits$5,040,918
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,656,730$406,304-$4,063,034
Interest$1,599,034--$1,599,034
Office Expenses$1,403,379--$1,403,379
Depreciation Depletion$704,655--$704,655
Occupancy$367,531$40,837-$408,368
Other Employee Benefits$324,256$36,028-$360,284
Pension Plan Contributions$284,996$31,666-$316,662
Payroll Taxes$270,844$30,094-$300,938
Advertising$230,296--$230,296
Conferences and Meetings$111,242--$111,242
Fees for Services Accounting$77,362--$77,362
Other Expenses$59,368--$59,368
All Other Expenses$46,801--$46,801
Fees for Services Other$20,722--$20,722
Fees for Services Legal$17,419--$17,419
Fees for Service Investment Mgmnt Fees$16,236--$16,236
Total Functional Expenses$15,074,885$544,929$0$15,619,814

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$15,619,814
Total Expenses per Audited Statements$15,619,814
Total Expenses per Form 990$15,619,814
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
Shares$211,197,374
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

“Spc credit union's field of membership includes anyone who lives, works or attends school in darlington, florence, marlboro or chesterfield counties. Spc also serves employee groups in the hartsville, darlington and bennettsville area, as well as the employees of sonoco products company and its affiliates throughout the united states. In addition, any person related by blood or marriage to a current spc member, regardless of employment or residence, may join the credit union.”

Form 990, Page 6, Part VI, Line 7A

“At the credit union's annual meetings, the membership elects the board of directors.”

Form 990, Page 6, Part VI, Line 11B

“The organization reviews the form 990 to ensure that there are no omissions or misstatements.”

Form 990, Page 6, Part VI, Line 12C

“The policy is reviewed and updated annually to ensure compliance.”

Form 990, Page 6, Part VI, Line 15A

“The compensation committee along with the board of directors approve the ceo's, vice president's and the cfo's salaries.”

Form 990, Page 6, Part VI, Line 15B

“Employees are given evaluations before they receive salary increases. These increases are approved by the board of directors.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are available to the public upon request. Persons may come into one of the credit union's branches and request a copy of any of our governing documents. Some documents are posted in the branch lobbies.”

Filing and Contact Details

Filer

Filer Name
Spc Credit Union
EIN
57-6020340
Phone
8433830090
Address
PO BOX 1355, HARTSVILLE, SC 29551

Signing Officer

Name
Linda Weatherford
Title
President/CEO
Phone
8433830090
Signed
2025-04-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Linda Weatherford
Formed
1941
Legal Domicile
Sc
Voting Board Members
7
Independent Board Members
7
Employees
82

Preparer

Firm
Cantey Tiller Pierce & Green Llp
Address
PO BOX 862, CAMDEN, SC 29021
Preparer
Janet M Pierce
Phone
8034321436
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“CHANGE IN OCI 1,907,755”

Financial Statement Notes

Schedule D, Page 2, Part IV, Line 2B

“The credit union holds escrow accounts for first mortgages (third party and in-house). The credit union pays for the service.”

Raw XML AppendixShowing 400 of 427 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/ProgramServiceRevenueGrp/Desc2OTHER
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IRS990ScheduleD/EquipmentGrp/BookValueAmt03357829
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SHARES
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CREDIT UNION HOLDS ESCROW ACCOUNTS FOR FIRST MORTGAGES (THIRD PARTY AND IN-HOUSE). THE CREDIT UNION PAYS FOR THE SERVICE.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 2, PART IV, LINE 2B
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0LINDA WEATHERFORD
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT/CEO
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0SPC CREDIT UNION'S FIELD OF MEMBERSHIP INCLUDES ANYONE WHO LIVES, WORKS OR ATTENDS SCHOOL IN DARLINGTON, FLORENCE, MARLBORO OR CHESTERFIELD COUNTIES. SPC ALSO SERVES EMPLOYEE GROUPS IN THE HARTSVILLE, DARLINGTON AND BENNETTSVILLE AREA, AS WELL AS THE EMPLOYEES OF SONOCO PRODUCTS COMPANY AND ITS AFFILIATES THROUGHOUT THE UNITED STATES. IN ADDITION, ANY PERSON RELATED BY BLOOD OR MARRIAGE TO A CURRENT SPC MEMBER, REGARDLESS OF EMPLOYMENT OR RESIDENCE, MAY JOIN THE CREDIT UNION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AT THE CREDIT UNION'S ANNUAL MEETINGS, THE MEMBERSHIP ELECTS THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION REVIEWS THE FORM 990 TO ENSURE THAT THERE ARE NO OMISSIONS OR MISSTATEMENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE POLICY IS REVIEWED AND UPDATED ANNUALLY TO ENSURE COMPLIANCE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE COMPENSATION COMMITTEE ALONG WITH THE BOARD OF DIRECTORS APPROVE THE CEO'S, VICE PRESIDENT'S AND THE CFO'S SALARIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5EMPLOYEES ARE GIVEN EVALUATIONS BEFORE THEY RECEIVE SALARY INCREASES. THESE INCREASES ARE APPROVED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6GOVERNING DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. PERSONS MAY COME INTO ONE OF THE CREDIT UNION'S BRANCHES AND REQUEST A COPY OF ANY OF OUR GOVERNING DOCUMENTS. SOME DOCUMENTS ARE POSTED IN THE BRANCH LOBBIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7CHANGE IN OCI 1,907,755
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 6
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART XI, LINE 9
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0LINDA WEATHERFORD

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