UMCU Financial Highlights

University of Michigan Credit Union
Statement of Income and Expense (Unaudited)
Year-to-Date
March 31, 2007

Interest income
     Loans $3,247,376
     Securities, interest-bearing balances with other
     financial institutions and time deposits            1,080,020
4,327,396
Interest expense
     Members' deposits 1,966,385
     Borrowed funds                64,750
           2,031,135
Net interest income 2,296,261
Provision for loan losses               171,338
Net interest income after provision for loan losses 2,124,923
Other income 1,163,443
Other expenses
     Salaries and employee benefits 1,480,185
     Office operations 803,911
     Occupancy 279,517
     Loan servicing 260,657
     Other               164,885
           2,989,155
Net Income             $299,211
                         

 

 
NCUAYour savings federally insured to at least $100,000 and backed by the full faith and credit of the United States Government
National Credit Union Administration, a U.S. Government Agency
Equal Housing Lender We do business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act.