Financial Conditions
| ASSETS | 2019 | 2020 |
|---|---|---|
| Loan Balance | $7,569,718 | $7,210,666 |
| Loan Balance - Visa Cards | 309,679 | 244,081 |
| Less: Allowance for Loan Losses | 28,320 | 23,757 |
| 7,851,077 | 7,430,990 | |
| Cash - Financial Institutions | 4,091,422 | 3,918,295 |
| Corporate Credit Union & Other | 1,196,505 | 5,042,900 |
| Certificates of Deposit | 20,136,000 | 21,526,000 |
| Prepaid Expenses | 26,612 | 15,511 |
| Fixed Assets, Net | 10,991 | 7,327 |
| Accrued Interest | 64,698 | 48,741 |
| NCUSIF & Other Assets | 832,574 | 830,801 |
| TOTAL ASSETS | $34,209,879 | $38,820,565 |
| LIABILITY & EQUITY | 2019 | 2020 |
|---|---|---|
| Accounts Payable & Accrued Expenses | $387,517 | $389,194 |
| Shares | 30,742,241 | 35,180,467 |
| Undivided Earnings & Regular Reserve | 3,080,121 | 3,250,904 |
| TOTAL LIABILITY & EQUITY | $34,209,879 | $38,820,565 |
| NET INCOME | 2019 | 2020 |
|---|---|---|
| Interest on Loans | $443,748 | $412,826 |
| Interest on Investments | 585,489 | 442,972 |
| Fees | 13,897 | 8,916 |
| Miscellaneous Income | 69,152 | 67,599 |
| Total Income | 1,112,286 | 932,313 |
| Operating Expenses | 688,934 | 672,068 |
| Income from Operations | 423,352 | 260,245 |
| Provision for Loan Losses | 36,000 | 25,000 |
| Dividends Paid | 52,242 | 64,462 |
| NET INCOME (LOSS) | $335,110 | $170,783 |
NCUA Examination & Audit Completed as of September 2020