Form 990 for tax year 2024
Filed by STATE CHARTERED CREDIT UNIONS IN NORTH CAROLINA.
Totals
- Total revenue
- $82,531,419
- Total expenses
- $70,582,981
- Contributions and grants received
- $5,000,000
- Grants paid
- $142,500
- Program service revenue
- $71,103,339
- Investment income
- $6,428,080
- Other revenue
- $0
- Total assets, end of year
- $1,053,161,674
- Total liabilities, end of year
- $911,787,474
- Net assets or fund balances, end of year
- $141,374,200
- Program services expenses (Part IX)
- not reported
- Management and general expenses
- not reported
- Fundraising expenses
- not reported
- Program service expenses (Part III)
- not reported
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1d · Related organizations
$5,000,000
-
2a · Program service revenue: LOAN INTEREST INCOME
total $61,320,903 · related or exempt $61,320,903
-
2b · Program service revenue: FEES/CHARGES/INTERCHANGE INCOME
total $9,125,868 · related or exempt $9,125,868
-
2c · Program service revenue: COMMISSION INCOME
total $488,309 · related or exempt $488,309
-
2d · Program service revenue: OTHER INCOME
total $168,259 · related or exempt $168,259
-
3 · Investment income
total $6,428,080 · related or exempt $6,428,080
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $142,500
-
5 · Compensation of officers, directors and key employees
total $2,096,634
-
7 · Other salaries and wages
total $14,414,193
-
8 · Pension plan contributions
total $1,002,198
-
9 · Other employee benefits
total $3,072,671
-
10 · Payroll taxes
total $1,446,805
-
11b · Fees: legal
total $76,275
-
11c · Fees: accounting
total $30,500
-
11g · Fees: other
total $1,604,084
-
12 · Advertising and promotion
total $60,048
-
13 · Office expenses
total $5,281,709
-
14 · Information technology
total $650,592
-
16 · Occupancy
total $3,613,498
-
17 · Travel
total $398,574
-
19 · Conferences, conventions and meetings
total $3,785
-
20 · Interest
total $23,763,319
-
22 · Depreciation, depletion and amortization
total $1,332,631
-
23 · Insurance
total $155,329
-
24a · Other expenses: SERVICE FEES (NORTH CAR
total $8,690,080
-
24b · Other expenses: PROVISION FOR LOAN LOSS
total $2,022,919
-
24c · Other expenses: LOAN SERVICING EXPENSES
total $527,987
-
24d · Other expenses: MISCELLANEOUS
total $83,593
-
24e · All other expenses
total $113,057
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $5,471,066 · end of year $17,899,110
-
2 · Savings and temporary cash investments
beginning of year $130,376,495 · end of year $100,574,018
-
4 · Accounts receivable
beginning of year $2,504,594 · end of year $419,879
-
7 · Other notes and loans receivable
beginning of year $847,785,372 · end of year $860,695,001
-
9 · Prepaid expenses and deferred charges
beginning of year $2,505,869 · end of year $1,987,441
-
10a · Land, buildings and equipment: cost or other basis
$28,259,873
-
10b · Land, buildings and equipment: accumulated depreciation
$5,554,461
-
10c · Land, buildings and equipment, net
beginning of year $16,123,788 · end of year $22,705,412
-
11 · Investments: publicly traded securities
end of year $9,998,503
-
12 · Investments: other securities
beginning of year $4,000,360 · end of year $2,145,300
-
15 · Other assets
beginning of year $23,074,363 · end of year $36,737,010
-
17 · Accounts payable and accrued expenses
beginning of year $20,125,710 · end of year $18,867,222
-
21 · Escrow or custodial account liability
beginning of year $1,807,971 · end of year $1,279,412
-
23 · Secured mortgages and notes payable
beginning of year $39,775,000 · end of year $39,275,000
-
24 · Unsecured notes and loans payable
beginning of year $99,936,000 · end of year $99,436,000
-
25 · Other liabilities
beginning of year $740,771,464 · end of year $752,929,840
-
29 · Capital stock, trust principal or current funds
beginning of year $0 · end of year $0
-
30 · Paid-in or capital surplus, or land, building or equipment fund
beginning of year $0 · end of year $0
-
31 · Retained earnings, endowment or other funds
beginning of year $129,425,762 · end of year $141,374,200
Mission and programs · 2024
Mission
LATINO COMMUNITY CREDIT UNION'S (LCCU) MISSION IS TO PROVIDE ETHICAL FINANCIAL PRODUCTS AND EDUCATION TO EMPOWER COMMUNITIES.
-
CREDIT UNION PROGRAMS: PROVIDE MORTGAGES AND CONSUMER LOANS TO MEMBERS AT AFFORDABLE RATES. THERE WERE 7,548 LOANS GRANTED DURING 2024 TO THE CREDIT UNION'S MEMBERS. OF THE 430 HOME LOANS MADE TO MEMBERS, 264 WERE TO FIRST-TIME HOMEBUYERS.
-
OFFER COMPETITIVE RATES ON SHARE DEPOSITS AND SERVICES. LCCU PAID OUT $21,768,667 IN DIVIDENDS FOR ITS 226,594 MEMBER ACCOUNTS IN 2024.
-
PROVIDE FINANCIAL EDUCATION TO OVER 144,214 MEMBERS AND TO THE BROADER COMMUNITY. OFFER FREE FINANCIAL EDUCATION WORKSHOPS TO THE COMMUNITY, DEVELOP AND DISTRIBUTE CURRICULUM AND EDUCATIONAL VIDEOS TO INTERESTED PARTIES. IN 2024, LCCU PROVIDED 49 SCHOLARSHIPS FOR HIGHER EDUCATION TO MEMBERS FOR A TOTAL OF $155,500.
As filed on the 2024 return.
Listed in Part VII
-
Maria ScangaMARIA SCANGA
BOARD CHAIR
- Total calculated
- $0
- Hours/week
- 5
-
David BrehmerDAVID BREHMER
BOARD VICE CHAIR
- Total calculated
- $0
- Hours/week
- 5
-
Farad AliFARAD ALI
BOARD SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Lorena PattersonLORENA PATTERSON
BOARD DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Erika BellERIKA BELL
BOARD DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jerry HarmonJERRY HARMON
BOARD DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jorge ArchilaJORGE ARCHILA
BOARD TREASURER
- Total calculated
- $0
- Hours/week
- 2
-
Maria Victoria GarciaMARIA VICTORIA GARCIA
CEO
- Total calculated
- $464,489
- From this org
- $436,658
- From related orgs
- $0
- Other
- $27,831
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $418,950
- Bonus
- $17,708
- Other
- $0
- Deferred
- $20,591
- Nontaxable benefits
- $7,240
- Filer's total
- $464,489
-
Rodrigo IniguezRODRIGO INIGUEZ
CHIEF FINANCIAL OFFICER
- Total calculated
- $294,351
- From this org
- $264,876
- From related orgs
- $0
- Other
- $29,475
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $216,961
- Bonus
- $47,915
- Other
- $0
- Deferred
- $10,781
- Nontaxable benefits
- $18,694
- Filer's total
- $294,351
-
Roger MontesROGER MONTES
CHIEF RETAIL OFFICER
- Total calculated
- $218,067
- From this org
- $192,072
- From related orgs
- $0
- Other
- $25,995
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $184,072
- Bonus
- $8,000
- Other
- $0
- Deferred
- $11,460
- Nontaxable benefits
- $14,535
- Filer's total
- $218,067
-
Alison YonasALISON YONAS
CHIEF DEVELOPMENT & IMPACT
- Total calculated
- $211,140
- From this org
- $199,200
- From related orgs
- $0
- Other
- $11,940
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $191,200
- Bonus
- $8,000
- Other
- $0
- Deferred
- $11,940
- Nontaxable benefits
- $0
- Filer's total
- $211,140
-
Irving BustilloIRVING BUSTILLO
CHIEF LENDING OFFICER
- Total calculated
- $220,846
- From this org
- $192,268
- From related orgs
- $0
- Other
- $28,578
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $184,268
- Bonus
- $8,000
- Other
- $0
- Deferred
- $10,500
- Nontaxable benefits
- $18,078
- Filer's total
- $220,846
-
Steve HerrellSTEVE HERRELL
CHIEF RISK OFFICER
- Total calculated
- $210,660
- From this org
- $198,290
- From related orgs
- $0
- Other
- $12,370
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $190,290
- Bonus
- $8,000
- Other
- $0
- Deferred
- $11,460
- Nontaxable benefits
- $910
- Filer's total
- $210,660
-
Terry PhelpsTERRY PHELPS
CHIEF OPERATIONS OFFICER
- Total calculated
- $258,701
- From this org
- $248,078
- From related orgs
- $0
- Other
- $10,623
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $238,078
- Bonus
- $10,000
- Other
- $0
- Deferred
- $3,600
- Nontaxable benefits
- $7,023
- Filer's total
- $258,701
-
Edgar Omar LopezEDGAR OMAR LOPEZ
CHIEF PEOPLE OFFICER
- Total calculated
- $218,380
- From this org
- $199,200
- From related orgs
- $0
- Other
- $19,180
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $191,200
- Bonus
- $8,000
- Other
- $0
- Deferred
- $11,940
- Nontaxable benefits
- $7,240
- Filer's total
- $218,380
-
James WaddellJAMES WADDELL
VP, INFORMATION TECHNOLOGY
- Total calculated
- $207,003
- From this org
- $181,229
- From related orgs
- $0
- Other
- $25,774
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $173,729
- Bonus
- $7,500
- Other
- $0
- Deferred
- $9,000
- Nontaxable benefits
- $16,774
- Filer's total
- $207,003
-
Camilo MoncayoCAMILO MONCAYO
VP DEPOSITS & OPERATIONS
- Total calculated
- $144,951
- From this org
- $129,793
- From related orgs
- $0
- Other
- $15,158
- Hours/week
- 40
-
Gabriel Treves-KaganGABRIEL TREVES-KAGAN
VP, DEVELOPMENT
- Total calculated
- $137,779
- From this org
- $129,789
- From related orgs
- $0
- Other
- $7,990
- Hours/week
- 40
-
Etna ClaroETNA CLARO
VP, FACILITIES
- Total calculated
- $148,074
- From this org
- $127,375
- From related orgs
- $0
- Other
- $20,699
- Hours/week
- 40
-
Soraya Veronica CordovaSORAYA VERONICA CORDOVA
VP, CONSUMER LENDING
- Total calculated
- $148,034
- From this org
- $124,877
- From related orgs
- $0
- Other
- $23,157
- Hours/week
- 40
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
LATINO COMMUNITY DEVELOPMENT CENTER
501(C)(3) · FINANCIAL EDUCATION · NC · controlled entity
Directly controlled by LATINO COMMUNITY CREDIT UNION
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 5 November 2025
- IRS schema version
- 2024v5.2
- Source object
- 202533099349302793
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
The source document this was parsed from is served over the API, which is where bulk and document access live.