UMCU Financial Highlights

University of Michigan Credit Union
Consolidated Statement of Income and Expense (Unaudited)
June 30, 2008

Interest income
     Loans $      6,657,630
     Securities, interest-bearing balances with other  
     financial institutions and time deposits		         1,977,248
     Total interest income 8,634,878
Interest expense
     Members' deposits 2,821,167
     Borrowed funds                       -
     Total interest income         2,821,167
Net interest income 5,813,711
Provision for loan losses            816,021
Net interest income after provision for loan losses         4,997,690
Other income 2,583,656
Other expense
     Salary and employee benefits 3,225,305
     Office operations 1,656,126
     Occupancy 556,421
     Loan servicing 587,680
     Other            381,431
             6,406,963
Net Income $      1,174,383
                         

 

 
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.