Annual Meeting Information

Statement of Income
Income 2015 2014
Interest Income from Loans 468,860.85 533,250.14
Investment Income 118,413.56 92,434.81
Fee Income 718,594.12 736,599.66
Miscellaneous Income 38,288.83 45,754.78
Total Operating Income 1,344,157.36 1,408,039.39
Expense    
Salaries 352,037.56 354,347.05
Benefits 100,843.56 86,664.46
Travel & Conference - 3,124.60
Association Dues 2,699.56 2,531.41
Office Occupancy 86,290.37 94,746.33
Office Operations 145,283.98 147,391.82
Education & Promotion 82,905.18 93,081.89
Loan Servicing 22,856.91 18,465.67
Outside Services 112,515.03 99,109.55
Member Insurance - -
Provision for Loan Loss 55,500.00 52,100.00
Operating Fee 6,344.00 5,234.00
Annual Meeting 3,950.32 4,150.00
Interest on Borrowed Money 0.89 85.65
Miscellaneous Operating Exp 171,910.84 164,675.49
Total Operating Expense 1,143,138.20 1,125,707.92
Income (Loss) Operations 201,019.16 282,331.47
Non-Operating Gain (Loss) - 47,771.90
Dividends 175,347.96 171,361.01
Net Income (Loss) 25,671.20 63,198.56

Statement of Financial Condition
Assets 2014 2013
Member Loans 9,363,334.82 9,979,197.22
MasterCard 588,534.59 551,988.78
Allowance for Loan Losses (78,252.98) (64,346.26)
Cash 476,329.47 491,839.88
Investments 14,667,877.89 11,978,589.93
Land & Building 1,263,563.13 1,430,169.62
Fixed Assets 49,657.00 55,296.00
Other Assets 170,936.70 207,590.18
Total Assets 26,501,980.62 24,630,325.35
Liabilities    
Accounts Payable 106,884.82 66,577.42
Dividends Payable 19,303.74 17,815.28
Other Liabilities 76,983.72 57,326.03
Total Liabilities 126,188.56 141,718.73
Member Equity    
Member Shares 23,207,463.11 21,418,044.95
Regular Reserves 469,857.30 469,857.30
Undivided Earnings 2,621,487.93 2,600,704.37
Total Equity 26,298,808.34 24,488,606.62
Total Liabilities & Equity 26,424,996.90 24,630,325.35