Financial Statements
STATEMENT OF FINANCIAL CONDITION
As of December 31, 2022
| ASSETS | |
|
Cash |
$1,159,240.00 |
|
Investments |
$19,154,000.00 |
|
Loans to Members |
$29,255,284.00 |
|
Less: Allowance for Loan Loss |
($68,887.00) |
|
Land & Building |
$1,228,168.00 |
|
Furniture and Equipment |
$113,484.00 |
|
NCUSIF |
$465,036.00 |
|
Other Assets |
$1,747,829.00 |
| Total Assets | $53,054,155.00 |
| LIABILITIES, SHARES & EQUITY | |
|
Liabilities |
$503,967.00 |
|
Member Shares |
$23,809,495.00 |
|
Member Share Drafts |
$8,200,007.00 |
|
Other Member Deposits |
$15,952,987.00 |
|
Undivided Earnings |
$1,954,349.00 |
|
Regular Reserves |
$2,633,350.00 |
| Total Liabilities, Shares & Equity | $53,054,155.00 |
INCOME STATEMENT
January 1, 2022 to December 31, 2022
| INCOME | |
|
Interest on Loans |
$1,085,962.00 |
|
Income from Investments |
$144,535.00 |
|
Fee Income |
$234,173.00 |
|
Other Operating Income |
$10,843.00 |
|
Gain (Loss) of Disposition of Assets |
($2,578.00) |
|
Non Operating Income |
$82,707.00 |
| Total Income | $1,555,642.00 |
| EXPENSES | |
|
Dividends on Shares |
$102,896.00 |
|
Provision for Loan Loss |
$1,776.00 |
|
Employee Compensation & Benefits |
$654,008.00 |
|
Travel & Conference |
$3,310.00 |
|
Office Occupancy |
$128,486.00 |
|
Office Operations |
$213,592.00 |
|
Education & Promotion |
$6,289.00 |
|
Loan Servicing |
$46,515.00 |
|
Professional & Outside Services |
$209,682.00 |
|
Operating Fees |
$7,469.00 |
|
Miscellaneous Operating Expense |
$11,741.00 |
| Total Expense | $1,418,764.00 |
|
Net Income (Loss) |
$136,878.00 |
