Monthly Statement
Income
| 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
| 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
| 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
| 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
| 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
| 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
| 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
| 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