State Employees' Credit Union
TO BE THE TRUSTED PROVIDER OF FINANCIAL SERVICES TO EVERY ELIGIBLE MEMBER AND TO ENHANCE THE VALUE OF THEIR LIVES AND FINANCIAL WELL-BEING WHILE MAINTAINING OUR FISCAL STRENGTH.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$56.4B
+13.7% YoY
Annual Giving
$356K
-89.7% YoY
Grant Count
11
+0.0% YoY
Avg Grant Size
$32K
-89.7% YoY
About State Employees' Credit Union
Based on IRS filings
State Employees' Credit Union is a nonprofit organization focused on Economically disadvantaged people, based in RALEIGH, NC. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $56.4B in total assets. In 2024, it awarded 11 grants totaling $356K. Net investment income was $468.3M.
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $56,444,772,890 | $49,625,413,489 | $53,195,296,849 |
| Revenue | $2,616,980,178 | $2,176,491,752 | $1,663,323,190 |
| Expenses | $2,414,379,999 | $1,593,476,956 | $1,107,033,903 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $468,258,681 | $402,643,859 | $130,302,246 |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
34 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include African-american Credit Union Coalition ($125,000), Worldwide Foundation for Credit Unions ($100,000), Carolinas Credit Union Foundation ($30,990).
| Recipient | Purpose | Amount |
|---|---|---|
| WORLDWIDE FOUNDATION FOR CREDIT UNIONS MADISON, WI | GENERAL SUPPORT | $100,000 |
| AFRICAN-AMERICAN CREDIT UNION COALITION SNELLVILLE, GA | GENERAL SUPPORT | $125,000 |
| THE NATIONAL CREDIT UNION FOUNDATION MADISON, WI | GENERAL SUPPORT | $7,500 |
| MARCH OF DIMES ARLINGTON, VA | GENERAL SUPPORT | $7,500 |
| THE STATE CAPITAL FOUNDATION INC RALEIGH, NC | GENERAL SUPPORT | $10,000 |
| CREDIT UNION MIRACLE DAY WASHINGTON, DC | GENERAL SUPPORT | $10,000 |
| CAROLINAS CREDIT UNION FOUNDATION COLUMBIA, SC | GENERAL SUPPORT | $30,990 |
| UNITED NEGRO COLLEGE FUND WASHINGTON, DC | GENERAL SUPPORT | $6,100 |
| KEEP NORTH CAROLINA BEAUTIFUL INC RALEIGH, NC | GENERAL SUPPORT | $25,000 |
| EARTHSHARE NORTH CAROLINA DURHAM, NC | GENERAL SUPPORT | $20,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| JAMES HAYES | PRESIDENT (THRU 7/21/23) | 40 | $1,166,700 |
| LEIGH BRADY | PRESIDENT | 40 | $973,775 |
| REX SPIVEY | CHIEF FINANCIAL OFFICER | 40 | $641,501 |
| STACIE WALKER | CHIEF LENDING OFFICER | 40 | $528,063 |
| BRIDGET WELBORN | CHIEF RISK OFFICER (THRU 12/6/23) | 40 | $524,095 |
| JOSHUA BOMBA | CHIEF INFORMATION TECHNOLOGY OFFICER | 40 | $465,708 |
| JENNIFER HAMRICK | CHIEF OPERATIONS DIRECTOR | 40 | $452,100 |
| SARA TREXLER | CHIEF ADMINISTRATIVE OFFICER | 40 | $439,922 |
| JARED BENESH | EVP - MEMBER EXPERIENCE | 40 | $422,601 |
| JOHN SYKES | EVP - DEPUTY CHIEF FINANCIAL OFFICER | 40 | $412,443 |
| JAMIE APPLEQUIST | EVP - CHIEF PROPERTY OFFICER | 40 | $405,532 |
| DAMIAN CARTER | REGIONAL SVP (THRU 12/4/23) | 40 | $406,123 |
| WILLIAM DEANS | EVP - DIRECTOR OF IT OPERATIONS | 40 | $384,919 |
| JONATHAN DALLAIRE | EVP DIRECTOR CHIEF SECURITY OFFICER | 40 | $311,750 |
| EMMA HAYES | CHIEF LEARNING & EXPERIENCE | 40 | $335,444 |
| JONATHAN COBURN | EVP LOAN ORGINATIONS & SYSTEMS OPERATIONS | 40 | $326,966 |
| CATHY PLAUT | CHIEF LEGAL OFFICER - GENERAL COUNSEL | 40 | $314,909 |
| SPENCER SCARBORO | EVP LOAN RISK & SERVICING OPERATIONS | 40 | $310,184 |
| CARL SEABROOK | CHIEF AUDIT AND REGULATORY | 40 | $327,484 |
| SARAH THOMPSON | CHIEF RISK OFFICER | 40 | $165,240 |
| MARK FLEMING | DIRECTOR | 5 | $2,320 |
| THOMAS PARRISH IV | DIRECTOR (THRU 10/10/23) | 5 | $1,496 |
| MCKINLEY WOOTEN | DIRECTOR | 5 | $1,455 |
| MONA MOON | CHAIRMAN | 5 | — |
| STELFANIE WILLIAMS | VICE CHAIR | 5 | — |
| ALICE GARLAND | VICE CHAIR (THRU 10/10/23) | 5 | — |
| JENNIFER HAYGOOD | SECRETARY/TREASURER | 5 | — |
| BARBARA PERKINS | DIRECTOR (START 10/10/23) | 5 | — |
| BEN MCLAWHORN | DIRECTOR | 5 | — |
| BOB BRINSON | DIRECTOR | 5 | — |
| CHRIS AYERS | DIRECTOR | 5 | — |
| CHUCK STONE | DIRECTOR (START 10/10/23) | 5 | — |
| JO ANNE SANFORD | DIRECTOR (THRU 10/10/23) | 5 | — |
| MICHAEL CLEMENTS | DIRECTOR (START 10/10/23) | 5 | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is State Employees' Credit Union?
State Employees' Credit Union is a nonprofit organization focused on Economically disadvantaged people, based in RALEIGH, NC. It holds $56.4B in total assets as of 2024.
How large is State Employees' Credit Union?
As of 2024, State Employees' Credit Union holds $56.4B in total assets with $2.6B in annual revenue. It awarded 11 grants totaling $356K in 2024.
Where does State Employees' Credit Union operate?
State Employees' Credit Union has awarded grants in District of Columbia, Georgia, Maryland, North Carolina, South Carolina, Virginia, Wisconsin.
What size grants does State Employees' Credit Union award?
In 2024, State Employees' Credit Union awarded 11 grants totaling $356K — an average of about $32K per grant, based on its IRS Form 990 filings.
What is State Employees' Credit Union's EIN?
State Employees' Credit Union's EIN (Employer Identification Number) is 56-0475645. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in State Employees' Credit Union's focus areas in our free grants database
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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