Annual Meeting Information
Statement of Income
| Income | 2025 | 2024 |
|---|---|---|
| Interest Income from Loans | 684,701.77 | 632,387.80 |
| Investment Income | 696,287.13 | 757,316.95 |
| Fee Income | 527,607.20 | 585,812.86 |
| Miscellaneous Income | 41,948.84 | 43,580.17 |
| Total Operating Income | 1,950,544.94 | 2,019,097.78 |
| Expense | 2025 | 2024 |
|---|---|---|
| Salaries | (425,893.25) | (380,947.26) |
| Benefits | (118,246.17) | (102,317.42) |
| Travel & Conference | (6,000.00) | (6,000.00) |
| Association Dues | (3,184.00) | (3,137.00) |
| Office Occupancy | (114,646.41) | (118,346.95) |
| Office Operations | (136,265.49) | (126,225.29) |
| Education & Promotion | (67,050.99) | (43,410.17) |
| Loan Servicing | (43,684.13) | (42,345.39) |
| Outside Services | (143,008.69) | (137,064.29) |
| Member Insurance | - | - |
| Provision for Loan Loss | (10,300.00) | (4,582.00) |
| Operating Fee | (7,635.00) | (6,835.00) |
| Cash Over and Short | (17.48) | (924.21) |
| Annual Meeting | (7,200.00) | (7,000.00) |
| Miscellaneous Operating Exp | (256,845.65) | (244,499.34) |
| Total Operating Expense | (1,339,977.26) | (1,223,634.32) |
| Income (Loss) Operations | 610,567.68 | 795,463.46 |
| Non-Operating Gain (Loss) | - | - |
| Dividends | (368,537.33) | (224,589.61) |
| Interest on Borrowed Money | - | - |
| Net Income (Loss) | 242,030.35 | 570,873.85 |
Statement of Financial Condition
| Assets | 2025 | 2024 |
|---|---|---|
| Member Loans | 11,709,452.05 | 12,267,225.40 |
| MasterCard | 519,870.80 | 571,083.91 |
| Allowance for Loan Losses | (35,108.70) | (67,006.98) |
| Cash | 908,276.45 | 303,934.50 |
| Investments | 20,230,724.20 | 16,834,188.35 |
| Land & Building | 949,911.04 | 984,891.04 |
| Fixed Assets | 15,151.35 | 15,179.00 |
| Other Assets | 149,779.21 | 165,277.40 |
| Total Assets | 34,448.056.40 | 31,074,772.62 |
| Liabilities | 2025 | 2024 |
|---|---|---|
| Accounts Payable | 270,786.96 | 100,192.54 |
| Dividends Payable | 40,909.04 | 28,461.01 |
| Other Liabilities | 123,624.49 | 86,291.99 |
| Total Liabilities | 435,320.49 | 214,945.54 |
| Member Equity | 2025 | 2024 |
|---|---|---|
| Member Shares | 29,090,832.94 | 26,179,954.46 |
| Regular Reserves | 469,857.30 | 469,857.30 |
| Undivided Earnings | 4,452,045.67 | 4,210,015.32 |
| Total Equity | 34,012,735.91 | 30,859,827.08 |
| Total Liabilities & Equity | 34,448,056.40 | 31,074,772.62 |