Annual Meeting Information

Statement of Income
Income 2016 2015
Interest Income from Loans 468,697.36 468,860.85
Investment Income 155,338.21 118,413.56
Fee Income 699,294.15 718,594.12
Miscellaneous Income 50,387.06 38,288.83
Total Operating Income 1,373,716.78 1,344,157.36
Expense    
Salaries 363,114.12 352,037.56
Benefits 102,188.52 100,843.56
Travel & Conference 4,001.78 -
Association Dues 1,514.54 2,699.56
Office Occupancy 87,743.95 86,290.37
Office Operations 141,448.41 145,283.98
Education & Promotion 69,289.36 82,905.18
Loan Servicing 23,884.71 22,856.91
Outside Services 119,967.49 112,515.03
Member Insurance - -
Provision for Loan Loss 28,500.00 55,500.00
Operating Fee 5,811.00 6,344.00
Annual Meeting 4,075.74 3,950.32
Interest on Borrowed Money 81.09 0.89
Miscellaneous Operating Exp 227,948.23 171,849.06
Total Operating Expense 1,179,627.46 1,143,137.31
Income (Loss) Operations 194,089.32 201,020.05
Non-Operating Gain (Loss) - -
Dividends 179,926.45 175,347.96
Net Income (Loss) 14,081.78 25,671.20

Statement of Financial Condition
Assets 2016 2015
Member Loans 10,327,394.762 9,021,043.28
MasterCard 601,427.18 674,925.76
Allowance for Loan Losses (61,783.73) (67,418.84)
Cash 431,915.08 300,930.08
Investments 15,531,745.95 15,534,582.22
Land & Building 1,197,923.13 1,230,743.13
Fixed Assets 43,682.00 37,366.00
Other Assets 182,245.27 150,859.02
Total Assets 28,254,549.64 26,883,030.65
Liabilities    
Accounts Payable 106,786.72 154,037.35
Dividends Payable 20,513.34 19,163.28
Other Liabilities 69,619.49 87,211.35
Total Liabilities 196,919.55 260,411.98
Member Equity    
Member Shares 24,926,531.88 23,505,602.24
Regular Reserves 469,857.30 469,857.30
Undivided Earnings 2,661,240.91 2,647,159.13
Total Equity 28,057,630.09 26,622,618.67
Total Liabilities & Equity 28,254,549.64 26,883,030.65