Statement of Financial Condition & Income

As of December 31, 2022 (unaudited)
Assets
2022
2021
Cash and Cash Equivalents
$44,628,748
$75,117,555
Investments
243,460,734
350,790,763
Loans to Members, Net
593,206,376
476,480,730
Property and Equipment
5,504,376
5,861,666
National Credit Union Share Insurance Fund (NCUSIF) Deposit
7,768,667
7,424,588
Other Assets
34,890,964
35,163,024
Total Assets
$929,459,865
$950,838,326

Liabilities & Members’ Equity

Liabilities
2022
2021
Members’ Share Accounts
$851,059,448
$852,254,666
Borrowed Funds
33,101,821
30,000,000
Accrued Expenses and Other Liabilities
9,245,238
5,484,763
Total Liabilities
$893,406,507
$887,739,429
Members’ Equity
2022
2021
Regular Reserve
$9,923,909
$9,923,909
Undivided Earnings
64,349,025
57,971,893
Accumulated Other Comprehensive Loss
(38,219,576)
(4,796,905)
Total Equity
36,053,358
63,098,897
Total Liabilities & Members’ Equity
$929,459,865
$950,838,326

Statement of Income

Income
2022
2021
Loans to Members
$25,704,661
$19,203,609
Interest from Investments
5,767,202
2,739,514
Non-Interest Income
9,132,580
7,086,768
Total Income
$40,604,443
$29,029,891
Expenses
2022
2021
Interest Expenses
$3,151,708
$2,793,284
Provision for Loan Losses
2,353,994
170,000
Compensation and Benefits
13,251,183
12,836,044
Office Occupancy
1,506,047
1,651,607
Office Operations
7,543,829
5,749,457
Other
6,420,550
5,314,892
Total Operating Expenses
$34,227,311
$28,515,284
Net Income
$6,377,132
$514,607