Financials

Audited Statements of Financial Condition
December 31, 2014 and 2013
Assets 2014 2013
Cash and cash equivalents $1,386,519 $1,915,827
Investments 17,308,849 14,865,237
Loans, net 33,089,178 32,741,804
Property and equipment, net 55,478 60,638
Other real estate owned 0 0
NCUSIF deposit 480,393 468,898
Accrued interest receivable 96,823 87,012
Other assets 3,274,113 3,152,814
Total Assets $55,691,353 $53,292,230
Liabilities and Members' Equity 2014 2013
Members' shares 48,541,915 46,410,188
Accrued expenses and other liabilities 881,188 732,687
Total liabilities 49,423,103 47,142,875
Members' equity 6,268,250 6,149,355
Total liabilities and members' equity $55,691,353 $53,292,230
Audited Statements of Income
December 31, 2014 and 2013
Interest Income 2014 2013
Loans $2,011,879 $1,980,102
Cash, cash equivalents and certificates of deposit 82,466 71,886
Total interest income 2,094,345 2,051,988
Interest Expense 2014 2013
Members' shares 125,770 171,322
Net interest income 1,968,575 1,880,666
Provision for Loan Losses 142,800 1,500
Net interest income after provision for loan losses 1,828,775 1,879,166
Non-interest Income 2014 2013
Fees and charges 356,979 419,635
Other non-interest income 191,412 196,391
Total non-interest income 548,391 616,026
Non-interest Expense 2014 2013
Compensation and benefits 1,219,578 1,141,271
Other 1,035,693 1,148,680
Total non-interest expense 2,255,271 2,289,951
Net income $118,895 $205,241