Financial Statements


STATEMENT OF FINANCIAL CONDITION

As of December 31, 2019

ASSETS

Cash

$1,472,156.00

Investments

$10,237,000.00

Loans to Members

$24,891,136.00

Less: Allowance for Loan Loss

($136,383.00)

Land & Building

$1,120,387.00

Furniture and Equipment

$104,729.00

NCUSIF

$322,562.00

Other Assets

$1,395,170.00

Total Assets $39,406,757.00

 

LIABILITIES, SHARES & EQUITY

Liabilities

$327,990.00

Member Shares

$17,593,115.00

Member Share Drafts

$5,271,562.00

Other Member Deposits

$11,890,504.00

Undivided Earnings

$1,690,236.00

Regular Reserves

$2,633,350.00

Total Liabilities, Shares & Equity​ $39,406,757.00

 

INCOME STATEMENT

January 1, 2019 to December 31, 2019

INCOME

Interest on Loans

$1,074,126.00

Income from Investments

$251,779.00

Fee Income

$204,190.00

Other Operating Income

$15,991.00

Gain (Loss) of Disposition of Assets

$257,235.00

Non Operating Income

($16,320.00)

Total Income $1,787,001.00

 

EXPENSES

Dividends on Shares

$174,218.00

Provision for Loan Loss

$0.00

Employee Compensation & Benefits

$660,868.00

Travel & Conference

$4,806.00

Office Occupancy

$194,874.00

Office Operations

$219,051.00

Education & Promotion

$7,343.00

Loan Servicing

$32,094.00

Professional & Outside Services

$153,149.00

Operating Fees

$8,029.00

Miscellaneous Operating Expense

$18,009.00

Total Expense $1,472,441.00

 

Net Income (Loss)

$314,560.00