Annual Meeting Information

Statement of Income             Income 2008 2007       Interest Income from Loans  $          565,582.29  $          565,118.47 Investment Income              301,715.63              307,547.88 Fee Income              462,756.77              343,024.62 Miscellaneous Income                30,749.99                26,073.06       Total Operating Income           1,360,804.68           1,241,764.03       Expense           Salaries              290,814.01              266,594.89 Benefits                63,717.41                59,473.62 Travel & Conference                   7,324.79                13,396.67 Association Dues                   9,659.52                   8,862.18 Office Occupancy                41,356.89                39,864.99 Office Operations              141,387.87              138,565.98 Education & Promotion                42,367.83                38,514.73 Loan Servicing                   9,671.64                   9,815.94 Outside Services                85,094.65                88,979.03 Provision for Loan Loss                      739.45                19,389.47 Operating Fee                   4,270.94                   4,235.31 Annual Meeting                   5,002.05                   4,201.16 Interest on Borrowed Money                               -                          40.40 Miscellaneous Operating Exp              141,486.86                95,791.23       Total Operating Expense              842,893.91              787,725.60       Income (Loss) Operations              517,910.77              454,038.43       Non-Operating Gain (Loss)                               -                                 -         Dividends              359,590.34              239,076.30       Net Income (Loss)              158,320.43              214,962.13   Statement of Financial Condition             Assets 2008 2007       Member Loans           7,146,096.14           7,295,198.72 MasterCard               203,109.10              220,175.64 Allowance for Loan Losses              (31,092.69)              (57,025.59) Cash              336,083.55              427,352.55 Investments         10,335,513.44           5,637,309.82 Land & Building              201,466.70              213,466.70 Fixed Assets                16,089.00                17,697.00 Other Assets              188,014.77              191,077.19       Total Assets         18,395,280.01         13,945,252.03       Liabilities           Accounts Payable                68,582.89                91,160.62 Dividends Payable                40,948.60                30,696.11 Other Liabilities                25,998.25                24,707.62       Total Liabilities              135,529.74              146,564.35       Member Equity           Member Shares         15,354,108.87         11,051,366.71 Regular Reserves              469,857.30              469,857.30 Undivided Earnings           2,435,784.10           2,277,463.67       Total Equity         18,259,750.27         13,798,687.68       Total Liabilities & Equity         18,395,280.01         13,945,252.03

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