Financials

Audited Statements of Financial Condition
December 31, 2017 and 2016
Assets 2017 2016
Cash and cash equivalents 3,432,555 4,885,859
Investments 16,016,070 16,216,660
Loans, net 34,533,256 35,316,640
Property and equipment, net  50,928 34,552
Other real estate owned 0 0
NCUSIF deposit 512,978 500,197
Accrued interest receivable 123,448 111,946
Other assets 3,487,964 3,454,776
Total Assets 58,157,199 60,520,629
Liabilities and Members' Equity 2017 2016
Members' shares 50,660,697 51,124,056
Accrued expenses and other liabilities 752,001 2,859,357
Total liabilities 51,412,698 53,983,413
Members' equity 6,744,501 6,537,216
Total liabilities and members' equity 58,157,199 60,520,629
Audited Statements of Income
December 31, 2017 and 2016
Interest Income 2017 2016
Loans 2,061,984 2,012,765
Cash, cash equivalents and certificates of deposit 236,818 174,237
Total interest income 2,298,802 2,003,815
Interest Expense 2017 2016
Members' shares 114,892 100,998
Net interest income 2,183,908 2,086,015
Provision for Loan Losses 166,684 82,200
Net interest income after provision for loan losses 2,017,224 2,003,815
Non-interest Income 2017 2016
Fees and charges 408,554 422,366
Other non-interest income 137,559 193,091
Total non-interest income 546,113 615,457
Non-interest Expense 2017 2016
Compensation and benefits 1,184,614 1,270,583
Other 1,171,423 1,192,628
Total non-interest expense 2,356,037 2,463,211
Net income $207,330 $156,061