UMCU Financial Highlights

University of Michigan Credit Union
Statement of Income and Expense (Unaudited)
Year-to-Date
June 30, 2007

Interest income
     Loans $6,564,880
     Securities, interest-bearing balances with other
     financial institutions and time deposits            2,226,706
8,791,586
Interest expense
     Members' deposits 3,962,905
     Borrowed funds               130,219
           4,093,124
Net interest income 4,698,462
Provision for loan losses               236,558
Net interest income after provision for loan losses 4,461,904
Other income 2,276,131
Other expenses
     Salaries and employee benefits 3,007,276
     Office operations 1,656,796
     Occupancy 554,871
     Loan servicing 537,690
     Other               347,685
           6,104,318
Net Income             $633,717
                         

 

 
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.