Statement of Financial Condition as of December 31, 2019
Assets
Cash | $17,514,235 |
Investments | $86,227,138 |
Loans to Members | $76,675,185 |
Loan Loss Allowance | ($343,087) |
Land/Buildings - Net | $1,687,508 |
Other Fixed Assets | $211,943 |
Other Assets | $1,846,465 |
TOTAL ASSETS | $183,819,387 |
Liabilities and Equity
LIABILITIES | |
Accounts Payable | $978,778 |
TOTAL LIABILITIES | $978,778 |
EQUITY | |
Share Draft Accounts | $16,989,485 |
Regular Shares | $55,579,879 |
All Other Shares and Deposits | $79,068,024 |
TOTAL SHARES | $151,637,388 |
Regular Reserves | $2,884,692 |
Accum. Unreal. Pro./Loss | ($921) |
Undivided Earnings | $28,317,608 |
TOTAL CAPITAL | $31,203,221 |
TOTAL EQUITY | $182,840,609 |
TOTAL LIABILITIES & EQUITY | $183,819,387 |
Statement of Income and Expenses as of December 31, 2019
Interest Income
Loan Income | $4,188,581 |
Less Interest Income | ($369,524) |
Investment Income | $2,410,070 |
TOTAL INVESTMENT INCOME | $6,229,127 |
Interest Expenses
Dividends | $1,836,861 |
NET INTEREST | $4,392,266 |
Provision -- Loan Loss | $75,000 |
NET AFTER LOSS PROVISION | $4,317,266 |
Operating Expenses
Employee Compensation/Benefits | $1,979,587 |
Travel/Conference | $148,143 |
Association Dues | $26,876 |
Office Occupation | $202,947 |
Office Operations | $365,337 |
Education and Promotion | $153,875 |
Loan Services Expenses | $168,854 |
Professional/Outside Service | $901,855 |
Member Insurance and NCUA Fees | $116,998 |
Annual Meeting Expenses | $11,582 |
TOTAL OPERATING EXPENSES | $4,081,012 |
OTHER OPERATING INCOME | |
Operating Fees and Charges | $1,822,508 |
Gain/Loss--Disp. Assets | (-) |
NET INCOME | $2,058,762 |