NORTHWEST FEDERAL CREDIT UNION FISCAL YEAR ENDING - 30 JUNE 1966 ACCOMPLISHMENTS

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP80-01826R000200100014-8
• Release Decision: RIPPUB
• Original Classification: S
• Document Page Count: 21
• Document Creation Date: December 9, 2016
• Document Release Date: December 4, 2000
• Sequence Number: 14
• Publication Date: June 30, 1966
• Content Type: REPORT

Approved For Release 2001/03/04: CIA-RDP80-01826R000200100014-8
Approved For Release 2001/03/04: CIA-RDP80-01826R000200100014-8
 Approved For
DP80-M826R000200100014-8
NORTHWEST FEDERAL CREDIT UNION
FISCAL YEAR ENDING - 30 JUNE 1966
ACCOMPLISHMENTS
The Credit Union operates on a calendar year basis,
therefore the statements attached will include the an-
nual Credit Union statements for year ending 31 December
1965 and the current statements for the six month period
ending 30 June 1966.
The following is a list of'attached reports:
1. - Financial and Statistical Report for period ending
31 December 1965.
2. - Division of Earnings and statistical information
for past five years.
3. - Comparative Financial and Statistical Report (Income
and Expense) for past five years.
4. - Comparative Financial and Statistical Report for past
five years.
5. - Credit Committee Annual Report for 1965.
6. - Estimated 1966 Operating Budget with actual and esti-
mated figures for 1965.
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7. - Estimated 1966 Cash Budget with actual.figures for
.1964 and 1965.
4
8. - Condensed Statement of Financial Condition for
period ending 30 June 1966.
,9. - Credit Committee Report for first six months of 1966.
The above listed reports will reflect the growth and
work load of our Credit Union.
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ACTIVITY HIGHLIGHTS
Dec. 31, 1965
June 30, 1966
TOTAL ASSETS
13,099,983
13,646,951.43
TOTAL LOANS MADE (AMOUNT)
10,924,588
5,916,656
TOTAL LOANS MADE (NUMBER)
9,087
4,775
GROWTH IN ASSETS FOR FISCAL YEAR 1. JULY 1965 TO 30 JUNE 1966
AMOUNTED TO $1,578,751.
TOTAL LOANS MADE SINCE ORGANIZATION TO JUNE 30, 1966 - 102,191
FOR $84,140,908.
CREDIT UNION FINANCED 1530 CARS DURING 1965.
912'CARS SIX MONTH PERIOD ENDING 30 JUNE 1966.
TOTAL DIVIDENDS PAID TO MEMBERS JANUARY 1966 AT 4.8% - $507,431.00.
TOTAL DIVIDENDS PAID TO MEMBERS SINCE ORGANIZATION - $3,329,272.
TOTAL CASH RECEIPTS FOR THE YEAR 1965 - $23,402,470.00.
TOTAL CASH DISBURSEMENTS FOR 1965 - $22,812,641.
LARGEST SINGLE LOAN MONTH IN HISTORY OF CREDIT UNION OCCURED
IN JUNE OF 1966 - $1,180,925.00 SURPASSING LAST YEAR'S HIGH
WHICH OCCURED DURING THE SAME MONTH AT $1,098,747.
BI-ANNUAL CONFIRMATION OF CREDIT UNION ACCOUNTS BY THE SUPER-
VISORY COMMITTEE IS NOW IN PROCESS.
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Credit Union facilities were extended to the Rosslyn
area with the opening of a branch office located in the
Magazine Building, 2nd floor Room 204, on 15 January 1966.
Approximately 1200 sq. ft. of floor space was secured
and furnished providing an attractive and efficient banking.
facility for Agency employees located in the area.
It appears that the long sought Borrower's Insurance
or "Loan Insurance" will become a reality for Credit Union
members before the end of the year. The Board of Directors
have been negotiating with several underwriters and a final
decision is near.
In the last 18 months, the Credit Union has undertaken
several surveys to up date its machine accounting system.
An OCS survey was compiled regarding on-line and off-line
data processing for the Credit Union, but has been temporar-
ily tabled pending a review of proposals submitted by NCR,
IBM, and Burroughs regarding their computerized machine-
accounting systems. A decision on a change pro or con will
be made before the end of 1966.
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Present staffing requirements are adequate, however,
additional employees will be required to assist at the
Magazine Branch. The current T/O lists 21 full time em-
ployees and 12 part tiem. The Board of Directors have
authorized a ceiling of 24 personnel which should suffice
for the balance of 1966 and 1967.
There are no rapid or spectacular growth patterns in
the immediate future for the Agency Credit Union. We have
had an orderly growth pattern throughout the years since
organization (1947). We believe this situation will con-
tinue in the years ahead.
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1966 OPERATING BUDGET
NORTHWEST FEDERAL CREDIT UNION
CHARTER NO. 5603
ESTIMATED ACTUAL ESTIMATED
1965 1965 1966
..,INCOME:
1. Interest on Loans (7.6% estimated) $710,755.
$701,926.
$752,840.
2. Income from Investments (4.9% est.) 130,000.
137,599.
147,000.
3. Other Income --
124.
--
$840,755.
EXPENSES:
$839,649.
$899,840.
5.
Part-Time Salaries (3% Increase)
$ 14,415.
$ 15,916.
$ 16,500.
6.
Other Salaries (4% Increase)
130,878.
139,136.
149,988.
7.
Borrower Insurance
8.
Life Savings Insurance
--
--
--
9.
League Dues
5,000.
2,500.
2,500.
10.
Surety Bond Premium
1,000.
1,051.
1,051.
11.
Examination Fees
4,357.
4,261.
4,525.
12.
Supervision Fees
1,611.
1,612.
1,735.
13.
Interest on Borrowed Money
5,000.
5,132.
5,150.
14.
Stationery & Supplies
4,000.
3,453.
3,500.
15.
Educational Expense
1,200.
1,517.
1,750.
16.
Collection Expense
10.
25.
50.
17.
Depreciation
8,700.
7,869.
7,865.
18.
Social Security Taxes
1,045.
565.
693.
19.
Other Insurance
--
110.
110.
20.
Recording Fees-Chattel Lien Insurance
1,400,
1,371.
1,465.
21.
Quarterly Statements
4,500.
3,478.
4,000.
22.
Communications
1,400.
787.
1,000.
23.
Bank Service Charge
500.
131.
250.
24.
Brinks
2,500.
2,430.
3,320.
25.
Maintenance
1,800.
2,081.
2,200.
26.
Transportation
150.
36.
150.
27.
Unemployment Tax
430.
435.
512.
28.
League & ,Management Expense
2,500.
2,601.
3,200.
29.
Miscellaneous General
250.
198.
250.
30.
Audit Expense
6,000.
6,000.
6,000.
31.
ADP System @ 6 mos.
17,640.
--
32.
Systems Analysis Cost
2,000.
--
--
33.
Other Expenses
--
523.
--
34.
TOTAL
$218,286.
$203,218.
$217,764.
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ESTIMATED ACTUAL
ESTIMATED
1965 1965
1966
35.
NET EARNINGS $622,469. $636,431.
$682
076.
36.
20% to Regular Reserve
-- $127,286.
,
$136,415.
37.
80% to Undivided Earnings
$509,145.
$545,661.
38.
Regular Reserve Balance Dec. 1965
'
$788,445.
39.
Add: Estimated Earnings to be
Transferred 1966
136,415.
BALANCE
$924
860.
40.
Less: Estimated Losses to be Charged
,
off 1966
15,000.
ESTIMATED BALANCE DECEMBER 1966
$909,860.
41.
Undivided Earnings Balance Dec. 1965
$ 44,104.
42.
Add: Estimated Earnings 1966
545,661.
43.
BALANCE
$589,765.
44.
Less: Dividend Paid 1966 @
5%
$588,983.
45.
Less: Dividend Paid 1966 @
4.8%
$562,806.
46.
ESTIMATED BALANCE AVAILABLE FOR DIVIDEND
1967 @ 5%
$ 782.
@ 4.8%
$ 26,959.
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? ITEMS OF INTEREST - 1966 Budget
#5. Part-Time Salaries - The Credit Union employs eleven qualified wives
of Agency' employees with prior security clearance to assist on paydays,
loan days and other peak periods, as required. A roster is maintained
regarding their specific area of specialization with respect to the
Credit Union's needs.
#18.
#28.
Social Security Taxes - Currently computed at the rate of 4.2%.
rate was 3.58%.
League and Management Expenses - $3,200.00
1965
Management Conference (MACUMA)
$ 373.57
$ 400.00
CUES Conference (Minneapolis)
--
500.00
D.C. League Annual Dinner Dance
1,050.00
1,000.00
Hospitality Room & Beverage
207.73
200.00
MACUMA Christmas Party
487.50
500.00
MACUMA Monthly Dinner Meetings
(8)
370.47
400.00
MACUMA Membership Dues
-
40.00
40.00
Miscellaneous
71.27
160.00
$2,600.54
$3,200.00
Miscellaneous expenses will include training seminars of a local
nature conducted by the League for all employees, including Management.
#15. Educational Expense - Promotional and educational material(member)
(12) Subscriptions: Wall Street Journal
Kiplinger Newsletter
Credit Union Magazine
Business Week
U.S. News & World Report
Everybody's Money
Consumer Bulletin
NADA Used Car Guide Book
Credit Union Executive
ABOS Blue Book Boat Directory
Consumer Trends
Report on Credit Union
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1966 ESTIMATES
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CASH BUDGET
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1966 CASH BUDGET
NORTHWEST FEDERAL CREDIT UNION
CHARTER NO. 5603
ACTUAL
ACTUAL
ESTIMATED
1964
1965
1966
1.
Cash Balance (Beginning year)
$ 320,164.64
$ ?431,743.77
$ 496,859.
CASH RECEIPTS:
2.
Share Payments
3,041,072.21
3,292,152.00
3,561,498.
3.
Loan Payments
9,088,202.26
9,648,926.00
10,339,260.
4.
Interest Payments
663,988.27
701,926.00
752,840.
5.
Income from Investments
100,588.24
137,599.00
147,000.
6.
Investments Liquidated or
Withdrawn
310,000.00
90,000.00
7.
Borrowed Money
.7,130,000.00
9,100,000.00
8,250,000.
8.
Other Receipts
64.82
124.00
9.
TOTALS
$20,654,080.44
$23,402,470.77
$23,547,457.
CASH DISBURSEMENTS:
10.
Share Withdrawals
$ 1,777,982.30
$ 2,071,281.
$ 2,200,000.
11.
Loans to Members
9,764,572.22
10,366,283.
11,032,000.
12.
Investments
1,010,000.00
575,000.
600,000.
13.
Repayment of Borrowed Money
6,980,000.00
9,100,000.
8,250,000.
14.
Expenses
182,726.48
203,218.
217,764.
15.
Other Disbursements
16.
Cash Balance (End of year)
431,743.77
496,859.
3751000-
17.
TOTALS
$20,147,024.77
$22,812
641.
$22,674 764.
18.
NET INCOME - Receipts-
_
Disbursements
$ 507,055.67
$ 589,829.
$ ? 872,693.
* Estimated Loan Balance 1966 $9,905,787.
Estimated Share Balance 1966 $13,088,506.
Note:
To estimate dividend ? 5%, multiply estimated share balance 4.5% 6
4.8% x 4.3%.
* Interest earnings calculated on this balance.
GROUP I
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1966 CASH BUDGET
Cash - Amount of cash in banks.
2. Share Payments - Total amount of share payments deposited by members
for the year.
3. Loan Payments - Total amount of payments on money borrowed by members.
4. Interest Payments - Interest income received by Credit Union on member
borrowings. Largest source of revenue for Credit
Union.
5. Income from Investments - Income derived from investment portfolio con-
sisting of S&L shares deposited in federally
insured corporations (Federal Savings Loan
Insurance Corporation) and Certificates of
Deposit with banks - also insured by FDIC.
Maximum deposits do not exceed insurable limits
of $10,000.00 in any institution.
6. Investments Withdrawn - Represents deposits withdrawn for either of the
following reasons:
(a) Mergers and consolidation of Savings & Loan
association.
(b) Need for operating cash due to loans and
more withdrawal.demands.
7. Borrowed Money - Represents money borrowed from banks to provide tem-
porary change fund for check cashing purposes on pay-days
and in limited situations wherein it is deemed provident
by Management to borrow short-term funds rather than
withdraw investments. Borrowings are short-term in all
cases.
8. Other Receipts - Miscellaneous items - gain from sale of bonds, depre-
ciated equipment, unpresented checks and unidentifiable
deposits received.
9'. Total Receipts - Self-explanatory.
10. Share Withdrawals.- Total withdrawal of savings by members.
11. Loans to Members New loans disbursed to members.
12. Investments - Excess cash not needed for operating purposes that are
invested in S&L associations and banks.
11. Repayment of borrowed money - Reimbursement ryofAprincipal borrowed from
t_~ J ~.,..1 ~; narl in Tt-.P_m 7 above.
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14. Expenses - Ordinary operating expenses such as salaries, depreciation
on FFE, etc.
15. Other Disbursements - Disbursements not identified in items 10 thru-14,
inclusive.
16. Cash Balance - Cash in banks at end of year.
17. Total - Total disbursements.
18. Net Income - Increase of receipts over disbursements.
Comments: Actual 1965 figures substantiate the normal growth pattern of
this credit union, creating a continually increasing share ratio
in proportion to the loans outstanding. This in itself is not
alarming in view of the fact that banking and lending institutions
are currently experiencing a slackening of funds. available for
lending purposes. Federal Reserve Board statistics and our own
Credit Union National Association is predicting a shortage of
loanable funds in the ensuing. years. with a corresponding increase
in demand for credit.
Summarizing the above facts, theNorthwest Federal Credit Union
will obviously maintain a highly favorable position in the con-
sumer credit market when loan demand will begin its upswing and
there will be sufficient funds available'to meet the challenge
without competing for borrowed funds as the majority of other
credit unions are forced to do.
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CONDENSED
STATEMENT OF FINANCIAL CONDITION
30 JUNE 1966
ASSETS
Cash on Hand and in Bank
635,368.12
Petty Cash
25.00
Loans to Members
9,710,273.29
Loans to Other Credit Unions
40,000.00
Federal Savings & Loans Shares
3,230,025.00
Furniture, Fixtures, and Equipment
29,920.35
Other Assets
1,339.67
TOTAL ASSETS
$ 13,646,951.43
LIABILITIES
Shares (owned by Members)
11,859,773.75
Notes Payable
600,000.00
Accounts Payable
1,227.46
Unclaimed Shares
2,057.73
Taxes Payable
507.93
Accrued Salaries
30.1.000.00
TOTAL LIABILITIES
12,493,566.87
NET WORTH
Regular Reserve 789,089.31
Undivided Earnings 43,867.58
Gain - (Close of Business 30 June)320,427.67
1,153,384.56
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 A
FEDERAL CREDIT UNION
CRE,U].T Co:2aTTEE ACTIVITY
Six Month Period.-- 1 January 1966 to 30 June 1966
Number of Regular Meetings 26, special meetings 123
Number of Loans Approved- 4,775 with face total of $ 5,916,657,62
Average Amount of Loan- $1,239.00
TYPES OF LOANS APPROVED:
Number
Type Face Amounts Face Averages
% of Total
68,5
182
Comalker $1,2214., 675.91 1,788.00
20
7
9
3
9
Signature 804,870.17 440.00
,
6
13
4
722
Chattel Mortgage 595,918.45 1,707.00
.
10
0
Chattel Mortgage 1,622,475.69 2,247.00
plus other collateral
1
27.4
774
325
Share 880,869.97 1,138.00
11
9
Shares and Signature
+,.
35
or Comrtker 522, 86,91 1,608.00
8
8
8
Educational 32,486.4.8 928,00
.
6
3
18
Stock 145,990.29 3,840.00
.
2
5
Trust 86,483.75 3,600.00
.
1.5
4775
66
$
5,9
,657.62
100.0 %
Number of Extension Agreements Approved 258- In the Amount of ~ 344,985.73
Loans Approved by Loan Officers 2,863-in the Amount of $ 2,231,323.34
Number of Applications Rejected- 50
JTumber of Cars Financed- 912
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LIBERAL DIVIDENDS
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CREDIT COMMITTEE'S ANNUAL REPORT
JANUARY 1966
1. Report for the year 1965.
2. Number of regular meetings: 53. Number of special meetings: 211.
3. Number and amounts of loans approved:
YEAR NUMBER OF LOANS FACE TO
TALS
1964 8,559 10,"011,057.06
1963 9,004 9,489,592.59
4. Types of Loans Approved:.
NUMBER
1109
3567
842
1589
1824
9,086 $10,923,588.95
TYPE
Comaker Loans
Signature Loa ns
Collateral Loans
Shares Loans
Combination Loans
Trust Loans
Educational Loans
Stock Loans
9086 Totals $10,923,588.95
5. Number of Extensions Agreements approved: 471,in the amount of
$536,843.91
6. Loan Officers approved 5,604 loans in the amount of $4,152,040.49.
7. Number of applications rejected were 92.
8. There were 1,530 cars financed through the Credit Union..
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FACE TOTALS
$2,016,330.80
1,501,442.86
1,610,481.78
1,763,117.59
3,694,730.09
125,962.16
55,906.28
155,617.39
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DIVISION OF EARNINGS 1965
NET EARNINGS
RESERVE FOR
BAD LOANS
DIVIDEND
AT 4.8%
DIVIDEND
AT 5% -
Account Balances as of 12-31-65
$636,431.
$661,288.
20% of Net Earnings to Reserve
(127,286.)
127,286.
$509,145.
$788, 574.
Undivided Earnings - 1964
42,386.
,T'V.ilable for Dividends
$551,531.
$551,531.
$551,531.
idend
f Di
t
(510,024.)
(530,466.)
v
o
Cos
s 1965
ided Earnin
1U
di
$ 41,507.
$ 21,065.
g
n
v
STATISTICAL INFORMATION
25X9
Loans made since orig. (amt.)
c
39,849,439.
47,838,886.
57,328,470.
67,299,667.
78,224,252.
- Loans charged off to date 34,466.
43,647.
48,285.
56,415.
85,019.
Recovery on loans
charged ott
5,170.
6,500.
8,515.
13,840.
16,805.
I ins made by year
(no.)
7,942.
8,844.
9,004.
8,559.
9,087.
L.). . made. by year
(amt.)
7,358,620.
7,989,447.
9,489,584.
10,011,057.
10,924,588.
7,556,764.
8,303,908.
9,243,047.
10,506,137. 11,727,008.
5.0%
5.0%
5.0%
4.8%
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COMPARATIVE FINANCIAL AND STATISTICAL REPORT
INCOME AND EXPENSE
1961
1962
Interest on Loans
$437,571.
$486,494.
$568,718.
$663,998.
$701,926.
Income form Investments
94,521.
107,306.
104,846.
100,588.
137,599.
Other Income
116.
1,387.
64.
124.
TOTAL INCOME
$532,129.
$593,917.
$674,953.
$764,641.
$839,649.
C- rterly Statements
$ 4,301.
$ 3,478.
A- it Expense
3? 000.
6,000.
Other Insurance
43.
74.
110.
.Interest on Borrowed Money,
2,757.
3,798.
4,986.
3,794.
5,132.
Salaries
95,302.
98,066.
102,144.
127,066.
139,136.
Part-Time Employees
3,798.
12,013.
18,090.
13,995.
15,916.
Stationery & Supplies
1,756.
3,536.
3,065.
3,095.
3,453.
Educational Expense
2,085.
1,426.
1,093.
1,095.
1,517 - CD
pDepr. of Furniture & Fixtures
2,283.
1,706.
7,044.
7,808.
7,869.
)Bond Premium
949.
954.
954.
986.
1,051.
Examination Fee
3,141.
3,332.
3,736.
4, 065.
4,261.
Supervisory Fee
1,158.
1,254.
1,342.
1,450.
1,612.
Miscellaneous General
270.
496.
149.
62.
198.
Cash Over & Short
548.
505.
463.
140.
458.
Brnk's Delivery
720.
1,147.
2,560.
2,175.
2,430.
1 jA Expense
113.
374.
655.
507.
565.
League Dues
1,000.
1,000.
2,000.
2,000.
2,500.
Maintenance & Bank Service Charge
921.
866.
1,956.
2,120.
2,212.,
Lien Insurance
595.
350.
370.
1,242.
1,371.
Other Losses & Collection Exp.
410.
3.
982.
83.
90.
Communications & Transportation
--
477.
2,659.
1,467..
823.
Unemployment Tax
201.
665.
146.
435.
League, Management & Conference
904.
1,866.
2,044.
2,601.
TOTAL EXPENSES
$117,814.
$132,463.
$156,788.
$182,726.
$203,218.
NET EARNINGS
$414,314.
$461,454.
$518,165.
$581,914.
$636,431.
Exp. to Gross Income 22.17.
Cost Ratirs:sal to G oss Inc e 17
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CONFIDENTIAL
NORTHWEST FEDERAL CREDIT UNION
COMPARATIVE FINANCIAL AND STATISTICAL REPORT
31 December 1965
ASSETS 12-31-61
Loans $5,622,881.
Cash in Bank- 376,196.
Petty Cash 10.
Change Fund 60,000.
Fed. Savings & Loan
$6,393,866.
263,388.
10.
100,000.
$7,819,320.
320,164.
10.
100,000.
$8,495,690.
431,743.
10.
244,682.
$9,213,047-
496,859.
25.
224,471.
Assn. 2,220,000.
2,370,000.
1, 950, 000.
2,650,000.
3,130,000.
Loans to other Credit
Unions 10,000.
30,000.
20,000.
Furniture & Fixtures 6,980.
10,723.
47
746.
40
602
33
408
Other Receivables 700.
5.11.
,
233.
,
.
121.
,
.
420.
Prepaid Bond 2,544.
1,590.
636.
2,803.
1,753.
TOTAL ASSETS $8,299,312.
$9,170,090.
$10,258,111.
$11,865,654.
$13,099,983.
4 LIABILITIES
Accounts Payable
623.
$ 30,653.
30,817.
Notes Payable
150,000.
Unclaimed Shares 407.
451.
459.
2,132.
2,052.
Shares 7,556,764.
8,303,908.
9,243,047.
10,506,137.
11,727,008.
Reserve for Bad
Loans 383,543.
467,912.
569,577.
683,538.
661,288.
Undivided Earnings 358,543.
397, 194,
444,578.
493,192.
678,818.
TOTAL LIABILITIES $8,299,312.
$9,170,090.
$10,258,111.
$11,865,654.
$13,099,983.
Co
Approved For Release 2001/03/04: CIA-RDP80-01826R000200100014-8
 F L N T TI REPORT
Approved For R =se 2001/03/04 . I RDP80-8 826R000200100014-8
For Period Ended 31 De c emb e , 19 5 Charter No.
BALANCE SHEET
STATEMENT OF IN
COME AND EXPENSE _
-~
ACCT.
NO,
ASSETS
END OF
THIS MONTH
ACCT.
NO.
INCOME
THIS MONTH
FROM] Jan 6 5
_T9 DATE
101
Loans:
NUMBER
UNPAID BALANCES
401
Interest on Loans
6 6 , 3 9 6
701,926
DELINQUENT:
405
Income from Investments
39,631
13 7 , 599
(a)
2 months to 6 months
149
144 , 12 3
406
Gain on Sale of Bonds
(b)
6 months to 12 months
48
52, 398
409
Other Income
124
(c)
12 months and over
49
56, 710
Subtotal
246
253,231
(d)
Current and less than
Total Income
106,027
3D,649
2 months delinquent
959 816
(e)
Total Loans
8660
9,213,047
xp l ss
'
202-1
e
Par
f
0y*Sala
1, 88 5
15 , 916
104-1051
Cash on Hand and in Banks
202.2
th S laries
10 ~~ 0
139,136..
Petty Cash
25
202-3
r gig Insurance
--
_ _, 000
107
Change Fund
U. S. Government Obligations
224 4 1
--
202-4
202-5
Life Savings Insurance
League Dues
--
108
Savings & Loan Shares
3 130, 000
202.6
Surety Bond Premium
88
1,051.
109
Loans to Other Credit Unions
202.7
Examination Fees
--
4,261
112
Furniture, Fixtures and Equipment
_33 408 _
202-8
Supervision Fee
- -
1,612
113
Unamortized Organization Cost
--
202-9
Inc. on Borrowed Money
292
1J,132
114
Prepaid Insurance
1, 7 5 3
202-10
Stationery and Supplies
142
3,453
115
Other Assets
10
202-11
Cost of Space Occupied
--
--
Returned Checks
-_
320
202-12
202-13
Educational Expense
Collection Expense
17
25
202-14
Depreciation Furn.. Fix?
a
nd
11i1
655
7,869
202-15
,
Social Security Taxes
57
565
Total Assets
3 , 099 , 983
202-16
Other Insurance
202-17
Recordin Fees Chattel
g Lien Ins.
21.3
1 371
LIABILITIES
202.18
Communications
--
787
301
Accounts Payable
422
202-19
Losses on Sale of Bonds
--
302
Notes Payable
202-20
Cash Over and Short
11
458
304
Withholding Taxes Payable
281
202-21
Other Losses
--
65
305
Social Security Taxes Payable
114
202.22
Bank Service Charge
--
131
Accrued Salaries
30,000
Brinks _
205
-2430
Unclaimed Shares
2,052
Maintenance
75
2,081
Trans ortati
n --
36
310
Shares
L1,727,008
Unempl . Tax
--
435
311
Regular Reserve
61
2
8-
Lea ue & M m
--
2,601
3T
Special Reserve for
+-
.
-
uar . Stats.
728
3 , 478
Delinquent Loans
202-30
Misc. General Expense
40
198
312
Undivided Earnings
42,387
Total Expenses
14, 542
203,218
313
Gain or Loss
63 F411
Net Earnings
91,485
636,431
Total Liabilities
3, 0 9 9 .8.3
Net Loss
STATISTICAL INFORMATION
25X
*Delinquen? Vbd Po? F Base 2001/03/04:
an atftliate at Credit Union National Association -20-
ITEM
I
No. of accounts at end
NUMBER AMOUNT
ITEM
5
Loans charged off since organization
AMOUNT
85,019
of period
X X X X X X
6
Recoveries on loans charged off since
2
No. of potential members
X X X X X X
organization
16,805
3
Loans made year to date
10, 9 24, 588
Certified correct by:
4
Loans made since organization
Excluded from automatic
downgrading and