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| FINANCIAL STATEMENT |
| Year to Date |
Year to Date |
| Assets |
AUGUST 2008 |
AUGUST 2007 |
DIFF $ |
DIFF % |
| Loans |
31,593,992.46 |
29,568,722.75 |
2,025,269.71 |
6.85% |
| Allowance for Loan Loss |
(271,569.72) |
(366,784.46) |
95,214.74 |
-25.96% |
| Investments |
4,146,402.93 |
5,520,661.11 |
(1,374,258.18) |
-24.89% |
| Cash |
1,879,204.16 |
1,485,368.02 |
393,836.14 |
26.51% |
| Fixed Assets |
1,984,411.60 |
2,069,486.88 |
(85,075.28) |
-4.11% |
| Other Assets |
799,390.63 |
721,750.82 |
77,639.81 |
10.76% |
| TOTAL ASSETS |
40,131,832.06 |
38,999,205.12 |
1,132,626.94 |
2.90% |
| - |
| Liabilities & Equity |
- |
| Accounts Payble |
53,572.89 |
52,021.92 |
1,550.97 |
2.98% |
| Member Shares |
36,514,088.80 |
35,576,427.53 |
937,661.27 |
2.64% |
| Regular Reserves |
829,888.05 |
829,888.05 |
- |
0.00% |
| Undivided Earnings |
2,734,282.32 |
2,540,867.62 |
193,414.70 |
7.61% |
| TOTAL LIABILITIES & EQUITY |
40,131,832.06 |
38,999,205.12 |
1,132,626.94 |
2.90% |
| Income |
| Loan Income |
1,727,723.52 |
1,746,419.42 |
(18,695.90) |
-1.07% |
| Investment Income |
89,370.89 |
192,905.52 |
(103,534.63) |
-53.67% |
| Fee Income |
363,693.84 |
180,206.95 |
183,486.89 |
101.82% |
| Other Income |
137,943.51 |
165,784.03 |
(27,840.52) |
-16.79% |
| TOTAL INCOME |
2,318,731.76 |
2,285,315.92 |
33,415.84 |
1.46% |
| Expenses |
| Salaries & Benefits |
697,449.49 |
626,571.05 |
70,878.44 |
11.31% |
| Travel & Conference |
8,330.56 |
17,312.63 |
(8,982.07) |
-51.88% |
| Occupancy |
157,508.79 |
148,259.05 |
9,249.74 |
6.24% |
| Operations |
247,381.90 |
227,163.81 |
20,218.09 |
8.90% |
| Education & Promotion |
37,042.71 |
71,905.76 |
(34,863.05) |
-48.48% |
| Loan Services |
232,176.57 |
216,304.87 |
15,871.70 |
7.34% |
| Outside Services |
67,440.36 |
105,182.61 |
(37,742.25) |
-35.88% |
| Provision for Loan Losses |
96,777.21 |
100,022.00 |
(3,244.79) |
0.00% |
| Other Expenses |
54,424.30 |
20,141.11 |
34,283.19 |
170.21% |
| TOTAL EXPENSES |
1,598,531.89 |
1,532,862.89 |
65,669.00 |
4.28% |
| DIVIDENDS |
644,020.27 |
660,469.13 |
(16,448.86) |
-2.49% |
| NET INCOME - YTD |
76,179.60 |
91,983.90 |
(15,804.30) |
-17.18% |
For more details, see financial information on the NCUA website.
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