Statement of Financial Condition & Income

As of December 31, 2024 (unaudited)
Assets
2024
2023
Cash and Cash Equivalents
$58,711,193
$44,466,266
Investments
$190,906,270
$215,346,189
Loans to Members, Net
$655,670,850
$652,251,354
Property and Equipment
$5,716,323
$5,300,087
National Credit Union Share Insurance Fund (NCUSIF) Deposit
$7,327,181
$7,623,111
Other Assets
$26,405,863
$46,903,697
Total Assets
$944,737,680
$971,890,703

Liabilities & Members’ Equity

Liabilities
2024
2023
Members' Share Accounts
$803,958,118
$824,446,719
Borrowed Funds
$88,322,240
$98,268,998
Accrued Expenses and Other Liabilities
$7,967,843
$9,185,232
Total Liabilities
$900,248,202
$931,900,949
Members' Equity
2024
2023
Regular Reserve
0
0
Undivided Earnings
$74,038,926
$72,741,515
Accumulated & Other Comprehensive Loss
($29,549,448)
($32,751,761)
Total Equity
$44,489,478
$39,989,754
Total Liabilities & Members' Equity
$944,737,680
$971,890,703

Statement of Income

Income
2024
2023
Loans to Members
$34,625,025
$30,056,537
Interest from Investments
$6,040,128
$6,389,138
Non-Interest Income
$6,345,239
$9,186,136
Total Income
$47,010,392
$45,631,811
Expenses
2024
2023
Interest Expenses
$11,117,480
$6,783,970
Provision for Loan Losses
$5,493,160
$4,746,511
Compensation and Benefits
$15,119,388
$14,640,468
Office Occupancy
$1,066,971
$1,345,756
Office Operations
$7,205,430
$7,341,606
Other
$5,710,553
$5,286,461
Total Operating Expenses
$45,712,981
$40,144,772
Net Income
$1,297,411
$5,487,039