UMCU Financial Highlights
University of Michigan Credit Union
Consolidated Statement of Income and Expense (Audited)
December 31, 2009
| Interest Income | |
| Loans Receivable | $13,987,409 |
| Investment Securities | 2,447,210 |
| Total Interest Income | 16,434,619 |
| Interest Expense | |
| Members' Shares | 2,500,011 |
| Borrowed Funds | 115,086 |
| Total Interest Expense | 2,615,097 |
| Net Interest Income | 13,819,522 |
| Provision for Loan Losses | 2,696,069 |
| Net Interest Income after Provision for Loan Losses | 11,123,453 |
| Non-Interest Income | |
| Gain on Sale of Securities | (73,342) |
| Gain (Loss) on Sale of Property and Equipment | 87,641 |
| Fees | 4,690,345 |
| Other | 151,208 |
| Total Non-Interest Income | 4,855,852 |
| Non-Interest Expense | |
| Compensation and Benefits | 6,855,603 |
| Occupancy | 1,239,533 |
| Operations | 1,799,159 |
| Loan Servicing | 810,702 |
| Professional Services | 499,341 |
| Other | 2,922,394 |
| 14,126,732 | |
| Net Income (Loss) | $1,852,573 |
We do business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act. Mortgage loan services provided by MemberFirst Mortgage LLC (NMLS #149532)
and UMCU (NMLS #712343)