2026-05-15T11:08:24-05:00 2025-06-30 410746749 CLIFTONLARSONALLEN LLP 2875 MICHELLE DRIVE 300 IRVINE CA 92606 990 2024-07-01 560475645 STATE EMPLOYEES' CREDIT UNION STAT 9198395000 119 N SALISBURY STREET FL 10 RALEIGH NC 27603 JOHN SYKES CHIEF FINANCIAL OFFICER 9198395000 2026-05-13 1 1 LISA N RYSSEL CPA P00643670 7147955370 2026-05-13 2024 2025-03-06 01:10:19Z LEIGH BRADY 119 N SALISBURY STREET FL 10 RALEIGH NC 27603 3508950977 0 X WWW.NCSECU.ORG X 1937 NC 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. 11 11 9217 2968 100142866 0 0 0 2150610955 2385786215 468258681 539275710 -1889458 -2140365 2616980178 2922921560 425256 377712 832783305 1132019473 743683530 783694889 0 0 0 837487908 729353046 2414379999 2645445120 202600179 277476440 56444772890 56111610046 51828558885 50879453316 4616214005 5232156730 X 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. 0 0 THE STATE EMPLOYEES' CREDIT UNION IS OWNED BY OUR 2.9 MILLION MEMBERS. SECU PROVIDES SERVICES TO OUR MEMBERS THROUGH 276 BRANCH OFFICES, 1076 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 CONSISTS OF MORTGAGES, HOME EQUITY, AUTO AND OTHER CONSUMER LOANS. AT JUNE 30, 2025, THERE WERE APPROXIMATELY 617,000 PERSONAL LOANS AND APPROXIMATELY 234,000 FIRST AND SECOND MORTGAGE LOANS OUTSTANDING. THE CREDIT UNION RECEIVED $2,923,081,432 IN REVENUES FROM INTEREST ON LOANS, INTEREST ON INVESTMENTS, AND OTHER NON-INTEREST SOURCES DURING THE YEAR ENDED JUNE 30, 2025. THE COST OF PROVIDING SERVICES TO CREDIT UNION MEMBERS WAS $2,645,445,120 FOR THE YEAR. THE COST OF SERVICES CONSISTS OF INTEREST PAID ON SHARE ACCOUNTS, SALARIES, BUILDING EXPENSES, EQUIPMENT EXPENSES, AND OTHER OPERATIONAL EXPENSES. 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 1 860312 0 1 9217 1 1 1 0 0 0 0 0 1 0 X 11 11 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 1 1 1 1 0 X JOHN SYKES 9198395084 119 N SALISBURY STREET FL 10 RALEIGH NC 27603 LEIGH BRADY PRESIDENT 40.00 4.00 X 1166503 0 64406 REX SPIVEY CHIEF FINANCIAL OFFICER 40.00 4.00 X 600433 0 48653 JOSHUA BOMBA CITO (LEFT 12/13/24) 40.00 0.00 X 539659 0 60141 JARED BENESH EVP - MEMBER EXPERIENCE 40.00 0.00 X 535802 0 58613 STACIE WALKER CHIEF LENDING OFFICER 40.00 0.00 X 507394 0 68149 SARA TREXLER CHIEF ADMINISTRATIVE OFFICER 40.00 2.00 X 472678 0 62586 JENNIFER HAMRICK CHIEF OPERATIONS DIRECTOR 40.00 4.00 X 476312 0 55685 JOHN SYKES EVP - DEPUTY CHIEF FINANCIAL OFFICER 40.00 0.00 X 432644 0 58101 CATHY PLAUT CHIEF LEGAL OFFICER - GENERAL COUNSEL 40.00 0.00 X 425099 0 60021 JAMIE APPLEQUIST EVP - CHIEF PROPERTY OFFICER 40.00 4.00 X 411712 0 57024 WILLIAM DEANS EVP - DIRECTOR OF IT OPERATIONS 40.00 0.00 X 359912 0 45429 CARL SEABROOK CHIEF AUDIT AND REGULATORY 40.00 1.00 X 343493 0 58419 ANGELA ROSE EVP DIRECTOR EPMO & IT FINANCE 40.00 0.00 X 310405 0 88541 EMMA HAYES CHIEF LEARNING & EXPERIENCE 40.00 0.00 X 347312 0 45030 JONATHAN DALLAIRE EVP DIRECTOR CHIEF SECURITY OFFICER 40.00 0.00 X 333744 0 58423 DAVID BRUINGTON ASSOCIATE EVP - REAL ESTATE LENDING 40.00 0.00 X 329979 0 57080 JONATHAN COBURN EVP LOAN ORGIN. & SYSTEM OPERATIONS 40.00 0.00 X 318196 0 44646 SPENCER SCARBORO EVP LOAN RISK & SERVICING OPERATIONS 40.00 0.00 X 306190 0 54643 SARAH THOMPSON CHIEF RISK OFFICER 40.00 0.00 X 300713 0 41695 MONA MOON CHAIR 5.00 1.00 X X 0 0 0 STELFANIE WILLIAMS VICE CHAIR 5.00 1.00 X X 0 0 0 JENNIFER HAYGOOD SECRETARY/TREASURER 5.00 1.00 X X 0 0 0 CHRIS AYERS DIRECTOR 5.00 1.00 X 0 0 0 BOB BRINSON DIRECTOR 5.00 1.00 X 0 0 0 MICHAEL CLEMENTS DIRECTOR 5.00 1.00 X 9573 0 0 MARK FLEMING DIRECTOR 5.00 1.00 X 729 0 0 BEN MCLAWHORN DIRECTOR 5.00 1.00 X 0 0 0 BARBARA PERKINS DIRECTOR 5.00 1.00 X 0 0 0 CHUCK STONE DIRECTOR 5.00 1.00 X 0 0 0 MCKINLEY WOOTEN JR DIRECTOR 5.00 1.00 X 0 0 0 8528482 0 1087285 1460 0 1 0 VENTURE SOLUTIONS INC 1170 GREY FOX RD ARDEN HILLS MN 55112 COMMUNICATION SERVICES 30223201 ACCURATE TITLE GROUP 6000 FREEDOM SQUARE DR SUITE 300 INDEPENDENCE OH 44131 APPRAISAL AND TITLE SERVICES 16061241 DIEBOLD NIXDORF INC 350 ORCHARD AVE NE NORTH CANTON OH 44720 BANKING SERVICES 8235953 EXPERIS US LLC 29973 NETWORK PL CHICAGO IL 606731299 STAFFING & RECRUITMENT 6098760 LOOMIS ARMORED US LLC DEPT CH 10500 PALATINE IL 600550500 SECURITY SERVICES 5973583 51 INTEREST ON MORTGAGE LOANS 522100 1144456591 1144456591 INTEREST ON PERSONAL LOANS 522100 893406330 893406330 INTERCHANGE FEES 522100 180743831 180743831 NON-MEMBER FEES 522100 100139346 100139346 DEMAND DEPOSIT PROCESSING 522100 38704822 38704822 28335295 28335295 2385786215 570710013 570710013 1818360 3958725 -2140365 -2140365 3520 -2143885 525152852 25483537 557450824 24619868 -32297972 863669 -31434303 -31434303 2922921560 2285646869 100142866 537131825 377712 1132019473 7248112 595312036 57734771 76836119 46563851 1061253 7507 36555856 1908779 36556550 11289956 62117982 7086285 533672 84767433 62919937 4429887 PROVISION FOR LOAN LOSS 239765557 EQUIPMENT REPAIR 119634955 CARD PROCESSING FEES 27541311 OPERATING COSTS 16589732 16586394 2645445120 711393093 730509771 10276531917 4233016362 8992400 9591300 5561138 32326194 33944251517 36141382285 73554589 73514291 1870939201 900193600 993566391 970745601 9326435035 12819276532 18250000 19250000 1086236810 1081997710 56444772890 56111610046 297072211 189007488 224630881 244243327 5000000000 46306855793 50446202501 51828558885 50879453316 X 0 0 0 0 4616214005 5232156730 4616214005 5232156730 56444772890 56111610046 X 277476440 395590459 -57124174 X X 0 1 X 1 0 0 1 X 264353588 264353588 976063607 362821383 613242224 7460276 6857983 602293 618632061 530514234 88117827 4429669 4429669 970745601 MEMBER DEPOSITS 50420814026 LEASE LIABILITY 24925549 PREPAID RENT 145849 RESERVES FOR UNFUNDED COMMITMENTS 317077 50446202501 X 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, 2025 AND 2024. BY LAW, AT A MINIMUM, BUSINESS TAX RETURNS ARE SUBJECT TO EXAMINATION BY FEDERAL AND STATE TAX AUTHORITIES FOR THE YEARS JUNE 30, 2022 THROUGH JUNE 30, 2024. 1 AFRICAN-AMERICAN CREDIT UNION COALITION PO BOX 392136 SNELLVILLE GA 30039 571091138 501(C)(3) 125000 0 N/A N/A GENERAL SUPPORT WORLDWIDE FOUNDATION FOR CREDIT UNIONS PO BOX 2982 MADISON WI 53701 396093210 501(C)(3) 50000 0 N/A N/A GENERAL SUPPORT STATE EMPLOYEES ASSOCIATION OF NORTH CAROLINA 1621 MIDTOWN PLACE RALEIGH NC 27609 561420553 501(C)(5) 30000 0 N/A N/A GENERAL SUPPORT LEADERSHIP NORTH CAROLINA INC PO BOX 31125 RALEIGH NC 27622 561757109 501(C)(3) 30000 0 N/A N/A GENERAL SUPPORT NORTH CAROLINA CHAMBER 701 CORPORATE CENTER DRIVE SUITE 275 RALEIGH NC 27607 560340499 501(C)(6) 26595 0 N/A N/A GENERAL SUPPORT KEEP NORTH CAROLINA BEAUTIFUL INC PO BOX 31745 RALEIGH NC 27622 560932528 501(C)(3) 26367 0 N/A N/A GENERAL SUPPORT JUNIOR LEAGUE OF RALEIGH INC 711 HILLSBOROUGH STREET RALEIGH NC 27603 560562849 501(C)(3) 15000 0 N/A N/A GENERAL SUPPORT NORTH CAROLINA SCHOOL BOARDS ASSOCIATION 7208 FALLS OF NEUSE ROAD SUITE 301 RALEIGH NC 27615 463401163 501(C)(4) 13500 0 N/A N/A GENERAL SUPPORT THE STATE CAPITAL FOUNDATION INC 4624 MAIL SERVICE CENTER RALEIGH NC 27699 591724571 501(C)(3) 10000 0 N/A N/A GENERAL SUPPORT CREDIT UNION MIRACLE DAY PO BOX 27637 WASHINGTON DC 20038 522341329 501(C)(3) 10000 0 N/A N/A GENERAL SUPPORT MARCH OF DIMES 1550 CRYSTAL DRIVE SUITE 1300 ARLINGTON VA 22202 131846366 501(C)(3) 7500 0 N/A N/A GENERAL SUPPORT CAROLINAS CREDIT UNION FOUNDATION PO BOX 1787 COLUMBIA SC 29202 561842095 501(C)(3) 7000 0 N/A N/A GENERAL SUPPORT 9 3 PART I, LINE 2: SECU DOES NOT DO ANY MONITORING ONCE FUNDS ARE RECEIVED BY RECIPIENTS. SECU DOES MAINTAIN RECORDS OF THE AMOUNT AND ELIGIBILITY (THESE ARE ORGANIZATIONS THAT THE SECU FOUNDATION, A RELATED PARTY HAS PREVIOUSLY WORKED WITH). X X 1 1 X X X X X 0 1 0 LEIGH BRADY PRESIDENT 1062653 0 0 0 103850 0 34500 0 29906 0 1230909 0 0 0 REX SPIVEY CHIEF FINANCIAL OFFICER 525012 0 0 0 75421 0 34500 0 14153 0 649086 0 0 0 JOSHUA BOMBA CITO (LEFT 12/13/24) 499783 0 0 0 39876 0 38976 0 21165 0 599800 0 0 0 JARED BENESH EVP - MEMBER EXPERIENCE 311899 0 200000 0 23903 0 35500 0 23113 0 594415 0 0 0 STACIE WALKER CHIEF LENDING OFFICER 484402 0 0 0 22992 0 57500 0 10649 0 575543 0 0 0 SARA TREXLER CHIEF ADMINISTRATIVE OFFICER 398079 0 0 0 74599 0 34500 0 28086 0 535264 0 0 0 JENNIFER HAMRICK CHIEF OPERATIONS DIRECTOR 401493 0 0 0 74819 0 35500 0 20185 0 531997 0 0 0 JOHN SYKES EVP - DEPUTY CHIEF FINANCIAL OFFICER 409644 0 0 0 23000 0 35500 0 22601 0 490745 0 0 0 CATHY PLAUT CHIEF LEGAL OFFICER - GENERAL COUNSE 394599 0 0 0 30500 0 34500 0 25521 0 485120 0 0 0 JAMIE APPLEQUIST EVP - CHIEF PROPERTY OFFICER 361212 0 0 0 50500 0 34500 0 22524 0 468736 0 0 0 WILLIAM DEANS EVP - DIRECTOR OF IT OPERATIONS 307092 0 0 0 52820 0 34500 0 10929 0 405341 0 0 0 CARL SEABROOK CHIEF AUDIT AND REGULATORY 320698 0 0 0 22795 0 34500 0 23919 0 401912 0 0 0 ANGELA ROSE EVP DIRECTOR EPMO & IT FINANCE 310405 0 0 0 0 0 63961 0 24580 0 398946 0 0 0 EMMA HAYES CHIEF LEARNING & EXPERIENCE 302697 0 0 0 44615 0 36340 0 8690 0 392342 0 0 0 JONATHAN DALLAIRE EVP DIRECTOR CHIEF SECURITY OFFICER 316593 0 0 0 17151 0 35301 0 23122 0 392167 0 0 0 DAVID BRUINGTON ASSOCIATE EVP - REAL ESTATE LENDING 299479 0 0 0 30500 0 33712 0 23368 0 387059 0 0 0 JONATHAN COBURN EVP LOAN ORGIN. & SYSTEM OPERATIONS 253115 0 0 0 65081 0 31925 0 12721 0 362842 0 0 0 SPENCER SCARBORO EVP LOAN RISK & SERVICING OPERATIONS 239681 0 0 0 66509 0 31655 0 22988 0 360833 0 0 0 SARAH THOMPSON CHIEF RISK OFFICER 277713 0 0 0 23000 0 30295 0 11400 0 342408 0 0 0 PART I, LINE 1A SECU HAS A BOARD OF DIRECTORS TRAVEL AND EXPENSE POLICY TO PROVIDE GUIDELINES FOR TRAVEL AND REIMBURSEMENTS FOR REASONABLE AND ACTUAL EXPENSES INCURRED WHILE TRANSACTING BUSINESS ON BEHALF OF THE CREDIT UNION. BOARD MEMBERS MAY UPGRADE ONE LEVEL ABOVE ECONOMY FOR FLIGHTS LONGER THAN 3 HOURS. SECU WILL APPROVE TRAVEL EXPENSES INCURRED BY ONE GUEST OF A BOARD MEMBER WHILE THE BOARD MEMBER IS TRAVELING ON OFFICIAL CREDIT UNION BUSINESS. THE PAYMENT OR REIMBURSEMENT OF A GUEST'S EXPENSES BE CONSIDERED TAXABLE INCOME TO THE BOARD MEMBER. PART I, LINE 4B THE CREDIT UNION HAS A SERP PLAN FOR KEY EXECUTIVES. DURING FISCAL YEAR 2025, A NON-RECOURSE LOAN WAS GRANTED TO LEIGH BRADY, PRESIDENT, IN THE AMOUNT OF $26,500,000 FOR THE PURPOSE OF SPLIT DOLLAR LIFE INSURANCE. SPLIT DOLLAR LIFE INSURANCE: THE CREDIT UNION HAS GRANTED NONRECOURSE LOANS FOR LIFE INSURANCE PREMIUM PAYMENTS TO SELECT MEMBERS OF SENIOR MANAGEMENT. THESE LOANS ARE COLLATERALIZED BY THE ASSIGNMENT OF THE CASH SURRENDER VALUE OF EACH RESPECTIVE LIFE INSURANCE POLICY. THE POLICIES ARE OWNED BY THE EXECUTIVES AND THE OWNERS HAVE SOLE CONTROL OVER THE LISTED BENEFICIARIES. UPON DEATH OF THE INSURED, THE PROCEEDS FROM THE DEATH BENEFIT OF THE LIFE INSURANCE POLICY ARE USED TO PAY THE OUTSTANDING BALANCE AND ACCRUED INTEREST OF THE LOANS. THE LOANS MAY BE CONSIDERED NONRECOURSE AND AS SUCH, THE CREDIT UNION HAS RECORDED THE BALANCE AS THE LOWER OF THE OUTSTANDING LOAN BALANCE PLUS ACCRUED INTEREST, OR THE CASH SURRENDER VALUE OF THE LIFE INSURANCE POLICIES. JAMES T HAYES FORMER PRESIDENT SPLIT DOLLAR LIFE INSURANCE X 6568262 5609431 0 1 1 LEIGH BRADY PRESIDENT SPLIT DOLLAR LIFE INSURANCE X 26500000 26716763 0 1 1 32326194 SCHEDULE L, PART II SPLIT DOLLAR LIFE INSURANCE: THE CREDIT UNION HAS GRANTED NONRECOURSE LOANS FOR LIFE INSURANCE PREMIUM PAYMENTS TO SELECT MEMBERS OF SENIOR MANAGEMENT. THESE LOANS ARE COLLATERALIZED BY THE ASSIGNMENT OF THE CASH SURRENDER VALUE OF EACH RESPECTIVE LIFE INSURANCE POLICY. THE POLICIES ARE OWNED BY THE EXECUTIVES AND THE OWNERS HAVE SOLE CONTROL OVER THE LISTED BENEFICIARIES. UPON DEATH OF THE INSURED, THE PROCEEDS FROM THE DEATH BENEFIT OF THE LIFE INSURANCE POLICY ARE USED TO PAY THE OUTSTANDING BALANCE AND ACCRUED INTEREST OF THE LOANS. THE LOANS ARE CONSIDERED NONRECOURSE AND AS SUCH, THE CREDIT UNION HAS RECORDED THE BALANCE AS THE LOWER OF THE OUTSTANDING LOAN BALANCE PLUS ACCRUED INTEREST, OR THE CASH SURRENDER VALUE OF THE LIFE INSURANCE POLICIES. FORM 990, PART VI, SECTION A, LINE 1A THE BOARD MAY APPOINT AN EXECUTIVE COMMITTEE OF THREE OR MORE DIRECTORS TO ACT FOR IT, WITH RESPECT TO SPECIFICALLY DELEGATED FUNCTIONS AND SUBJECT TO BOARD PRESCRIBED LIMITATIONS. FORM 990, PART VI, SECTION A, LINE 6 SECU IS A NON-PROFIT COOPERATIVE OWNED BY AND OPERATED FOR THE BENEFIT OF ITS 2,900,000 MEMBERS. MEMBERSHIP IN THE CREDIT UNION IS RESTRICTED PRINCIPALLY TO THE STATE OF NORTH CAROLINA EMPLOYEES AND THEIR FAMILIES. EACH MEMBER-OWNER HAS ONE VOTE WHICH IS EXERCISED TO ELECT VOLUNTEER DIRECTORS. VOLUNTEERS SET THE CREDIT UNION'S OPERATION POLICIES. THE BOARD MEMBERS, LOAN REVIEW COMMITTEES, ADVISORY BOARDS, AND OTHER COMMITTEES PLAY MAJOR ROLES IN DIRECTING AND MONITORING CREDIT UNION AFFAIRS. 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 ORGANIZATION'S MERGER INTO ANOTHER FINANCIAL INSTITUTION, DISSOLUTION, AND CONVERSION FROM A STATE TO A FEDERALLY CHARTERED CREDIT UNION, OR CONVERSION TO ANOTHER TYPE OF FINANCIAL INSTITUTION. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT CPA FIRM AND REVIEWED BY MANAGEMENT FOR ACCURACY AND CONSISTENCY WITH THE FINANCIAL STATEMENTS. IT IS THEN REVIEWED BY THE CREDIT UNION'S CHIEF FINANCIAL OFFICER 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, 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 SETS THE PRESIDENT'S SALARY AND BENEFITS. THE BOARD CONDUCTS A FORMAL ANNUAL PERFORMANCE REVIEW. IN ADDITION, A GOVERNANCE COMMITTEE, COMPRISED OF BOARD OF DIRECTOR MEMBERS, UTILITIZES SURVEYS AND MARKET COMPARISONS OF PEER CREDIT UNIONS AND OTHER FINANCIAL INSTITUTIONS TO BENCHMARK THE PRESIDENT'S COMPENSATION PACKAGE. THESE SURVEYS ARE INDEPENDENTLY OBTAINED FROM COMPENSATION CONSULTANTS THAT SECU'S HR DEPARTMENT CONTRACTS. THE BOARD REVIEWS THE COMPENSATION SURVEYS, THE GOVERNANCE COMMITTEE'S RECOMMENDATIONS, THE PRESIDENT'S AND CREDIT UNION'S PERFORMANCE, AND SETS THE PRESIDENT'S SALARY AND BENEFITS LEVEL. BOARD AND GOVERNANCE COMMITTEE DISCUSSIONS, DELIBERATIONS, AND DECISIONS ARE DOCUMENTED AND MAINTAINED IN MEETING MINUTES. PERIODIC SALARY SURVEYS AND BENCHMARKING ARE LIKEWISE OBTAINED FOR ALL STAFF AND MANAGEMENT POSITIONS. THERE IS NO INCENTIVE OR COMMISSION BASED COMPENSATION FOR ANY EMPLOYEE. ALL EMPLOYEES RECEIVE A SALARY. COMPENSATION DECISIONS ARE MAINTAINED IN ELECTRONIC PERSONNEL RECORDS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. MONTHLY FINANCIAL STATEMENT SUMMARIES ARE AVAILABLE ON THE COMPANY WEBSITE, ALONG WITH PERIODIC FINANCIAL CONDITION UPDATES. THE ANNUAL REPORT TO THE MEMBERSHIP AND THE COMPLETE AUDITED FINANCIAL STATEMENTS WITH FOOTNOTES ARE AVAILABLE ON THE COMPANY WEBSITE. PAPER COPIES ARE AVAILABLE ON REQUEST. FORM 990, PART XI, LINE 9: UNAMORTIZED CHANGE ON POSTRETIREMENT ACCOUNTS -57,124,174. SECU FOUNDATION 119 N SALISBURY STREET FL 11 RALEIGH NC 27603 562255292 PROMOTES LOCAL AND COMMUNITY DEVELOPMENT NC 501(C)(3) PF STATE EMPLOYEES' CREDIT UNION 1 CREDIT UNION INVESTMENT SERVICES 119 N SALISBURY STREET FL 10 RALEIGH NC 27603 260627380 INVESTMENT ADVISOR NC STATE EMPLOYEES' CREDIT UNION C 11955344 4788514 1.00000 1 SECU BROKERAGE SERVICES 119 N SALISBURY STREET FL 10 RALEIGH NC 27603 262442926 BROKER/DEALER NC STATE EMPLOYEES' CREDIT UNION C 3455624 1698162 1.00000 1 SECU LIFE INSURANCE COMPANY 119 N SALISBURY STREET FL 10 RALEIGH NC 27603 461285934 LIFE INSURER NC STATE EMPLOYEES' CREDIT UNION C 21806397 131007326 1.00000 1 SECURE INC 119 N SALISBURY STREET FL 10 RALEIGH NC 27603 460697967 PROPERTY MANAGEMENT NC STATE EMPLOYEES' CREDIT UNION C 33915322 327333116 1.00000 1 0 0 0 0 0 0 1 1 0 1 0 1 1 0 1 1 1 1 0 SECU LIFE INSURANCE COMPANY G 9091334 ACTUAL AMOUNT SECURE INC G 15508792 ACTUAL AMOUNT SECU LIFE INSURANCE COMPANY J 178171 ACTUAL AMOUNT CREDIT UNION INVESTMENT SERVICES J 173827 ACTUAL AMOUNT SECURE INC J 259560 ACTUAL AMOUNT SECU LIFE INSURANCE COMPANY J 154973 ACTUAL AMOUNT SECURE INC J 63732 ACTUAL AMOUNT SECU LIFE INSURANCE COMPANY L 1003664 ACTUAL AMOUNT SECU LIFE INSURANCE COMPANY M 519112 ACTUAL AMOUNT SECURE INC O 4990992 ACTUAL AMOUNT SECU LIFE INSURANCE COMPANY O 2367028 ACTUAL AMOUNT CREDIT UNION INVESTMENT SERVICES O 7917459 ACTUAL AMOUNT CREDIT UNION INVESTMENT SERVICES Q 857157 ACTUAL AMOUNT SECU BROKERAGE SERVICES Q 653274 ACTUAL AMOUNT SECU LIFE INSURANCE COMPANY R 118294 ACTUAL AMOUNT SECU LIFE INSURANCE COMPANY R 103149 ACTUAL AMOUNT SECURE INC R 1046301 ACTUAL AMOUNT SECU LIFE INSURANCE COMPANY Q 1003875 ACTUAL AMOUNT