State Chartered Credit Unions In North Carolina

Organization Overview

State Chartered Credit Unions In North Carolina is located in Greensboro, 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 12/2021, State Chartered Credit Unions In North Carolina employed 96 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 12/2021, State Chartered Credit Unions In North Carolina generated $18.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.5% each year. All expenses for the organization totaled $14.8m during the year ending 12/2021. While expenses have increased by 5.4% per year over the past 7 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

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO PROVIDE LOANS AND SERVICES TO MEMBERS AT REASONABLE RATES AND COSTS. # OF LOANS=21,765. AMOUNT=$181,762,399. # OF MEMBERS=37,197.

Describe the Organization's Program Activity:

Part 3 - Line 4a

TO PROVIDE LOANS AND SERVICES TO MEMBERS AT REASONABLE RATES AND COSTS


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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$17,160,527
Investment income $866,255
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $18,300,511

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