|
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
|
|
|
|
|
|
