Financial Statements
STATEMENT OF FINANCIAL CONDITION
As of December 31, 2024
| ASSETS | |
|
Cash |
$2,290,346.00 |
|
Investments |
$13,984,000.00 |
|
Loans to Members |
$30,148,485.00 |
|
Less: Allowance for Loan Loss |
($130,621.00) |
|
Land & Building |
$1,126,143.00 |
|
Furniture and Equipment |
$172,821.00 |
|
NCUSIF |
$424,583.00 |
|
Other Assets |
$1,902,603.00 |
| Total Assets | $49,918,360.00 |
| LIABILITIES, SHARES & EQUITY | |
|
Liabilities |
$461,364.00 |
|
Member Shares |
$21,435,864.00 |
|
Member Share Drafts |
$8,695,647.00 |
|
Other Member Deposits |
$14,240,135.00 |
|
Undivided Earnings |
$2,452,000.00 |
|
Regular Reserves |
$2,633,350.00 |
| Total Liabilities, Shares & Equity | $49,918,360.00 |
INCOME STATEMENT
January 1, 2024 to December 31, 2024
| INCOME | |
|
Interest on Loans |
$1,110,027.00 |
|
Income from Investments |
$771,328.00 |
|
Fee Income |
$159,266.00 |
|
Other Operating Income |
$13,925.00 |
|
Gain (Loss) of Disposition of Assets |
$0.00 |
|
Non Operating Income |
$73,534.00 |
| Total Income | $2,128,080.00 |
| EXPENSES | |
|
Dividends on Shares |
$231,182.00 |
|
Provision for Loan Loss |
($43,446.00) |
|
Employee Compensation & Benefits |
$703,276.00 |
|
Travel & Conference |
$19.00 |
|
Office Occupancy |
$126,907.00 |
|
Office Operations |
$268,211.00 |
|
Education & Promotion |
$8,120.00 |
|
Loan Servicing |
$61,417.00 |
|
Professional & Outside Services |
$136,092.00 |
|
Operating Fees |
$8,767.00 |
|
Miscellaneous Operating Expense |
$14,680.00 |
| Total Expense | $1,688,312.00 |
|
Net Income (Loss) |
$439,769.00 |
