Monthly Statement


Income

MONTHLY STATEMENT OF INCOME AND EXPENSES FOR THE PERIOD ENDING DECEMBER 31, 2023
INCOME DECEMBER 2024 PERIOD-TO-DATE YEAR-TO-DATE
Income From Loans $165,802.65 $486,792.73 $1,825,910.97
Investment Income $85,585.58 $246,989.20 $902,789.04
Fees & Charges $64,275.69 $193,847.67 $687,305.30
Miscellaneous Income $137.78 $5,648.61 $11,654.18
TOTAL INCOME $315,801.70 $933,278.21 $3,427,659.49

Cost of Funds

MONTHLY STATEMENT OF INCOME AND EXPENSES FOR THE PERIOD ENDING DECEMBER 31, 2023
COST OF FUNDS DECEMBER 2024 PERIOD-TO-DATE YEAR-TO-DATE
Dividends on Accounts $66,592.33 $199,305.39 $763,021.22
Cost of Borrowed Money $00.00 $00.00 $68.25
TOTAL COST OF FUNDS $66,592.33 $199,305.39 $763,089.47

Expenses

MONTHLY STATEMENT OF INCOME AND EXPENSES FOR THE PERIOD ENDING DECEMBER 31, 2023
EXPENSES DECEMBER 2024 PERIOD-TO-DATE YEAR-TO-DATE
Employee Compensation $61,476.42 $180,357.22 $728,347.51
Employee Benefits $6,763.49 $23,086.22 $88,366.61
Travel and Conferences $(23,539.33) $(17,256.81) $10,156.02
Association Dues $1,200.48 $3,453.87 $14,153.99
Office Occupancy $8,241.74 $29,493.54 $119,810.33
Office Operations $40,013.24 $126,344.68 $498,995.70
Educational & Promotional $(1,675.09) $5,352.23 $38,249.92
Loan Servicing $3,868.81 $14,326.26 $62,326.52
Professional & Outside Services $16,431.14 $67,934.99 $289,033.52
Provision for Loan Losses $(173.09 $63.31 $7,041.49
Member Insurances $.00 $.00 $2,000.00
Miscellaneous Expenses $(9,371.23) $(17,949.10) $48,967.38
TOTAL OPERATING EXPENSE $121,979.04 $451,104.61 $1,903,448.99
NET OPERATING INCOME (LOSS) $127,230.33 $282,868.21 $761,121.03

Non-Operating Gains/Losses

MONTHLY STATEMENT OF INCOME AND EXPENSES FOR THE PERIOD ENDING DECEMBER 31, 2023
NON-OPERATING GAINS/(LOSSES) DECEMBER 2024 PERIOD-TO-DATE YEAR-TO-DATE
Gain/(Loss) on Sale of investments $.00 $.00 $.00
Gain/(Loss) on Sale of Fixed Assets $.00 $.00 $.00
Other Non-Operating Gains or (Losses) $.00 $.00 $35,333.71
Total Non-Operating Expenses $.00 $.00 $35,333.71
NET INCOME $127,230.33 $282,868.21 $796,454.74

Assets

MONTHLY STATEMENT OF INCOME AND EXPENSES FOR THE PERIOD ENDING DECEMBER 31, 2023
ASSETS DECEMBER 2024 DECEMBER 2023
Loans To Members $35,231,860.80 $32,537,520.07
Allowance for Loan Loss $(80,000.00) $(80,000.00)
Building Project $3,891.60 $14,522.36
Cash $1,247,993.20 $1,621,079.20
Investments $27,844,899.23 $21,816,612.96
Prepaid Expenses & Deferred Charges $97,275.35 $84,948.51
Fixed Assets $1,434,361.17 $1,462,214.21
Accrued Income $111,855.28 $93,340.24
Deposit in NCUSIF $548,884.37 $485,700.67
Other Assets $170.40 $19,582.43
TOTAL ASSETS $66,441,191.40 $58,055,520.65

Liabilities & Equity

MONTHLY STATEMENT OF INCOME AND EXPENSES FOR THE PERIOD ENDING DECEMBER 31, 2023
LIABILITIES & EQUITY DECEMBER 2024 DECEMBER 2023
Accounts Payable $131,867.65 $178,941.77
Notes Payable $.00 $.00
Dividends Payable $66,814.93 $48,368.14
Taxes Payable $.00 $.00
Accrued Expenses $58,775.58 $89,166.95
Other Liabilities $3,730.55 $(.00)
TOTAL LIABILITIES $253,727.61 $316,476.86

Member Equity

MONTHLY STATEMENT OF INCOME AND EXPENSES FOR THE PERIOD ENDING DECEMBER 31, 2023
MEMBER EQUITY DECEMBER 2024 DECEMBER 2023
Regular Shares $20,257,514.17 $19,633,718.25
Share Drafts $17,931,543.34 $16,274,730.76
I.R.A.'s $1,881,666.58 $1,567,721.35
Certificates $17,386,966.54 $12,494,636.90
Other Deposits $1,843,503.41 $1,678,421.52
TOTAL MEMBER EQUITY $59,301,194.04 $51,649,228.78

Reserves & Undivided Earnings

MONTHLY STATEMENT OF INCOME AND EXPENSES FOR THE PERIOD ENDING DECEMBER 31, 2023
RESERVES & UNDIVIDED EARNINGS DECEMBER 2024 DECEMBER 2023
Regular & Legal Reserves $.00 $.00
Other Reserves $.00 $.00
Undivided Earings $6,886,269.75 $6,089,815.01
Current Period Net Income $.00 $.00
TOTAL CAPITAL $6,886,269.75 $6,089,815.01
TOTAL LIABILITIES & EQUITY $66,441,191.40 $58,055,520.65

MasterCard Contingent Liability: $2,021,600.00 Overdraft Privilege Contingent Liability: $879,689.07