UMCU Financial Highlights

University of Michigan Credit Union
 Consolidated Statement of Income and Expense (Unaudited)
March 31, 2010

Interest Income
     Loans $3,631,227
     Securities, Interest-bearing Balances with Other
     Financial Institutions and Time Deposits      376,229
          Total Interest Income     4,007,456
Interest Expense
     Members' Deposits 511,648
     Borrowed Funds        21,900
          Total Interest Expense      533,548
Net Interest Income 3,473,908
Provision for Loan Losses      629,278
Net Interest Income after Provision for Loan Losses    2,844,630
Other Income 1,139,307
Other Expense
     Salaries and Employee Benefits 1,761,431
     Office Operations 1,105,237
     Occupancy 302,762
     Loan Servicing 345,212
    Other        250,031
          Total Other Expenses     3,764,673
Net Income (Loss)       $219,264
                   

 

 
NCUAFederally
Insured
by NCUA
Equal Housing Lender 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)