Financials

TREASURER'S REPORT

STATEMENT OF FINANCIAL CONDITION

ASSETS

Dec. 31, 2009

Dec. 31, 2008

Net Loans Outstanding

$100,814,774

$78,706,618

Cash on Hand

4,329,026

3,301,491 

Federal Agency Securities

3,482,220

4,516,033 

U.S. Government Obligations

-

1,245,945 

Federal Funds

10,828

3,238,608

Mid-Atlantic Corporate FCU

20,610,677

 5,763,424

NCUSIF Deposit 07

1,200,906

564,819

Members United Corporate CD

9,690,315

12,213,970

Land & Building (Net)

5,641,921

5,707,000

Furniture & Equipment (Net)

706,599

548,452 

Accrued Investment Income

80,853

180,879 

Accounts Receivable

174,664

47,491 

Acrued Loan Interest

293,894

250,236

Prepaid & Deferred Expenses

262,199

234,644

Intangible Asset - Pension

998,504

 -

Corporate One

6,623,183

8,012,627

TOTAL ASSETS

$154,920,564

$124,532,237

 

LIABILITIES

   

Dividends Payable

$369,062

$329,520

Accounts Payable

100,495

266,569 

Other Liabilities

776,489

484,481

Clearing Accounts

137,711

98,880

EQUITY

   

Member's Accounts

137,531,866

108,108,484 

Regular Reserves

3,545,824

3,545,824 

Undividend Earnings

13,057,252

12,481,969 

Unrealized Gain/Loss

20,242

48,026 

Unfunded Managers Pension

(750,809)

(458,733) 

Net Income

132,433

(372,783)

 TOTAL LIABILITIES & EQUITY

$154,920,564

 $124,532,237

 

   

STATEMENT OF INCOME

   

INCOME

   
Interest Income

$6,017,684

$5,163,636

Investment Income

844,778

1,248,392

Non-Operating Gain

547,682

-

Other Income

1,084,094

1,111,333

TOTAL INCOME

$8,494,238

$7,523,361

 

   

EXPENSES

   
Operating Expenses

4,995,549

4,277,462

Dividend Expense

2,016,132

2,098,230

Undividend Earnings

1,080,499

305,566

Executive Compensation

402,058

294,421

Non-Operating Loss

-

547,682

TOTAL EXPENSES

$8,494,238

$7,523,361

 

   

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