Page 7 - 2019 Annual Report
P. 7

  Statement of Financial Condition
Assets (What We Own) 2019 2018
 Gross Loans $ 1,033,742,187 Less Allowance for Loan Losses (9,376,318) Net Loans 1,024,365,869 Cash Resources 13,811,301 Investments 155,526,549 Prepaid Accounts 1,795,712 Accrued Interest 3,947,185 Fixed Assets 30,908,216 Other Assets 53,817,328
Total Assets $ 1,284,172,160
Membership Equity
Regular Savings $ 314,720,328 Savings Certificates 245,560,163 Club Accounts 1,839,858 Checking 230,451,274 Money Market 229,246,502 IRA Savings/Certificates 76,642,196 Business Deposits 42,753,170 Regular Reserve 12,375,199 Undivided Earnings 120,672,102
Total Liabilities & Membership Equity $ 1,284,172,160
Interest on Loans $ 50,324,791 Income from Investments 2,874,593 Other Income 14,676,469
Total $ 67,875,853
Expenses (Operating and Non-Operating)
Salary and Benefits $ 22,295,988 Travel and Conference 480,867 Office Occupancy 2,933,688 Office Operations 9,476,406 Loan Services 4,368,364 Professional Services 2,576,687 Interest, Borrowed Funds 77 Non-Operating (Income) Expenses 472,507 Other (Income) Expenses 177,451
Total $ 42,782,035
Membership Service & Protection
Association Dues $ 132,958 Federal Examination and Supervision 328,691 Education and Promotion 1,080,591 Provision for Loan Losses 4,670,000
Total 6,212,240 Total Expenses $ 48,994,275
$
980,924,665
(8,428,298)
972,496,367
13,634,606
144,626,285
2,378,330
4,131,564
30,564,339
52,254,468
$ 1,220,085,959
302,802,814
214,125,258
1,822,064
219,931,773
238,745,477
76,184,290
37,933,506
12,375,199
106,364,572
1,220,085,959
44,592,536
3,832,221
14,445,870
62,870,627
21,630,912
332,555
2,825,004
8,559,207
3,950,520
2,202,827
326,271
3,573,944
198,154
43,599,394
123,736
300,618
1,311,279
5,491,000
7,226,633
50,826,027
     Liabilities (What We Owe)
 Liabilities $ 9,911,368 $ 9,801,006
  $
$
$
$
$
$
$ $
$
      Statement of Income
Income   2019 2018
            






























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