Annual Meeting Information
Statement of Income
Income | 2016 | 2017 | |
---|---|---|---|
Interest Income from Loans | 468,697.36 | 493,450.69 | |
Investment Income | 155,338.21 | 195,550.06 | |
Fee Income | 699,294.15 | 670,281.71 | |
Miscellaneous Income | 50,387.06 | 63,172.19 | |
Total Operating Income | 1,373,716.78 | 1,422,454.65 | |
Expense | 2016 | 2017 | |
Salaries | 363,114.12 | 358,224.38 | |
Benefits | 102,188.52 | 101,397.09 | |
Travel & Conference | 4,001.78 | 5,400.00 | |
Association Dues | 1,514.54 | 1,524.38 | |
Office Occupancy | 87,743.95 | 88,757.83 | |
Office Operations | 141,448.41 | 141,664.74 | |
Education & Promotion | 69,289.36 | 57,637.73 | |
Loan Servicing | 23,884.71 | 23,905.21 | |
Outside Services | 119,967.49 | 119,655.58 | |
Member Insurance | - | - | |
Provision for Loan Loss | 28,500.00 | 35,500.00 | |
Operating Fee | 5,811.00 | 6,406.00 | |
Annual Meeting | 4,075.74 | 6,200.96 | |
Miscellaneous Operating Exp | 227,948.23 | 215,968.20 | |
Total Operating Expense | 1,179,627.46 | 1,162,342.62 | |
Income (Loss) Operations | 194,089.32 | 260,112.03 | |
Non-Operating Gain (Loss) | - | - | |
Dividends | 179,926.45 | 181,406.71 | |
Interest on Borrowed Money | 81.09 | 532.84 | |
Net Income (Loss) | 14,081.78 | 78,172.48 |
Statement of Financial Condition
Assets | 2016 | 2017 |
---|---|---|
Member Loans | 10,327,394.762 | 10,697,671.56 |
MasterCard | 601,427.18 | 663,259.33 |
Allowance for Loan Losses | 61,783.73 | 63,609.30 |
Cash | 431,915.08 | 632,395.56 |
Investments | 15,531,745.95 | 17,164,157.54 |
Land & Building | 1,197,923.13 | 1,166,186.46 |
Fixed Assets | 43,682.00 | 34,229.00 |
Other Assets | 182,245.27 | 177,211.07 |
Total Assets | 28,254,549.64 | 30,471,501.22 |
Liabilities | 2016 | 2017 |
Accounts Payable | 106,786.72 | 192,097.38 |
Dividends Payable | 20,513.34 | 20,377.67 |
Other Liabilities | 69,619.49 | 80,567.20 |
Total Liabilities | 196,919.55 | 293,042.25 |
Member Equity | 2016 | 2017 |
Member Shares | 24,926,531.88 | 26,969,188.28 |
Regular Reserves | 469,857.30 | 469,857.30 |
Undivided Earnings | 2,661,240.91 | 2,739,413.39 |
Total Equity | 28,057,630.09 | 30,178,458.97 |
Total Liabilities & Equity | 28,254,549.64 | 30,471,501.22 |