Statement of Financial Condition
12/2004 |
12/2005 |
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ASSETS |
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| Loans | $2,112,570 | $2,432,043 |
| Less: Allowance for Loan Losses | ($6,727) | ($10,236) |
| Cash | $327,413 | $63,309 |
| Corporate 1 Deposit & Permanent Capital | $281,996 | $163,092 |
| CD Investments | $2,216,000 | $2,018,000 |
| Accrued Investment Income (& Int Loan Receivable 2004) |
$10,437 | $6,351 |
| Accrued Int Loan Receivable (2005) | $3,309 | |
| Leaseholder Improvements less Allowance for Depreciation | $894 | |
| Prepaid Expenses & Security Deposit 30129 Lorain | $10,971 | $9,246 |
| Furniture & Equipment less Allowance for Depreciation | $27,511 | $26,634 |
| Deposit in NCUA Share Insurance Capitalization Deposit | $45,989 | $43,153 |
TOTAL ASSETS |
$5,027,054 | $4,754,901 |
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LIABILITIES AND EQUITY |
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| Dividends Payable | $6,262 | $8,834 |
| Accrued Audit Expense | $2,025 | $2,011 |
| Accrued Miscellaneous Expense | $3,304 | $3,788 |
| Loan Accounts Payable | $0 | |
| Escrow: Credit Reports / 1st American/Gap | $722 | |
| Shares | $4,339,750 | $4,058,894 |
| Regular Reserve | $113,653 | $133,653 |
| Undivided Earnings | $542,060 | $546,999 |
TOTAL LIABILITIES |
$5,027,054 | $4,754,901 |
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Statement of Income for Year Ending: |
12/31/04 | 12/31/05 |
| Total Income less |
$255,079 | $224,869 |
| Total Expense (loss Disposal Assets) | $198,994 | $177,708 |
| Total Dividends | $38,927 | $42,223 |
Net Income |
$17,158 | $4,938 |
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Statistical Report for Year Ending: |
12/31/04 | 12/31/05 |
| Loans made during fiscal year (count) (amount) |
155 $1,110,171 |
158 $1,356,301 |
| Loans made since organization (count) (amount) |
6489 $21,993,826 |
6647 $23,350,127 |
| Loans charges off since organization | $85,146 | $85,146 |
| Recoveries (charged off loans) | $16,976 | $18,477 |
| Number of accounts at end of period | 1,029 | 1039 |