Page 13 - 2025 Annual Report
P. 13
Statements of Income and Expense
December 31 2025 2024
Interest Income
Loans to members $50,376,447 $46,455,487
Investments 7,716,194 11,299,600
Total interest income 58,092,641 57,755,087
Interest Expense
Members’ share and savings accounts 13,881,242 12,235,893
Borrowed funds 582,534 3,046,514
Total interest expense 14,463,776 15,282,407
Net interest income 43,628,865 42,472,680
Provision for Loan Losses 5,546,197 4,180,032
Net interest income after
provision for loan losses 38,082,668 38,292,648
Non-Interest Income
Fees and service charges 10,652,288 10,865,525
Other non-interest income 7,266,873 7,610,100
Corporate credit union capital distribution - -
Other net gains (1,294) 552
Total non-interest income 17,917,867 18,476,177
Total income from operations 56,000,535 56,768,825
Non-Interest Expense
Compensation and Ambassador benefits 24,314,414 23,447,993
Office operating costs 9,005,544 7,819,069
Professional and outside services 5,795,072 5,621,862
Office occupancy costs 3,995,292 3,978,623
Loan servicing expense 1,355,785 1,558,776
Education and promotion 1,639,057 1,583,392
Other 886,462 1,243,479
Total non-interest expense 46,991,626 45,253,194
Net Income $ 9,008,909 $11,515,631
Page 10
