Financial Statements
STATEMENT OF FINANCIAL CONDITION
As of December 31, 2021
| ASSETS | |
|
Cash |
$6,935,281.00 |
|
Investments |
$17,017,000.00 |
|
Loans to Members |
$25,679,993.00 |
|
Less: Allowance for Loan Loss |
($65,192.00) |
|
Land & Building |
$1,272,941.00 |
|
Furniture and Equipment |
$64,896.00 |
|
NCUSIF |
$439,521.00 |
|
Other Assets |
$1,664,955.00 |
| Total Assets | $53,009,395.00 |
| LIABILITIES, SHARES & EQUITY | |
|
Liabilities |
$523,716.00 |
|
Member Shares |
$22,926,273.00 |
|
Member Share Drafts |
$8,122,627.00 |
|
Other Member Deposits |
$16,985,958.00 |
|
Undivided Earnings |
$1,817,471.00 |
|
Regular Reserves |
$2,633,350.00 |
| Total Liabilities, Shares & Equity | $53,009,395.00 |
INCOME STATEMENT
January 1, 2021 to December 31, 2021
| INCOME | |
|
Interest on Loans |
$1,004,296.00 |
|
Income from Investments |
$70,867.00 |
|
Fee Income |
$226,250.00 |
|
Other Operating Income |
$6,856.00 |
|
Gain (Loss) of Disposition of Assets |
$0.00 |
|
Non Operating Income |
$28,680.00 |
| Total Income | $1,336,950.00 |
| EXPENSES | |
|
Dividends on Shares |
$93,216.00 |
|
Provision for Loan Loss |
($69,855.00) |
|
Employee Compensation & Benefits |
$679,486.00 |
|
Travel & Conference |
$3,600.00 |
|
Office Occupancy |
$122,311.00 |
|
Office Operations |
$221,015.00 |
|
Education & Promotion |
$6,029.00 |
|
Loan Servicing |
$28,246.00 |
|
Professional & Outside Services |
$182,617.00 |
|
Operating Fees |
$7,459.00 |
|
Miscellaneous Operating Expense |
$11,218.00 |
| Total Expense | $1,285,866.00 |
|
Net Income (Loss) |
$51,084.00 |
