UMCU Financial Highlights

University of Michigan Credit Union
 Statement of Income and Expense (Unaudited)
September 30, 2009

Interest income
   Loans $10,328,050
   Securities, Interest-bearing Balances with Other Financial
   Institutions and Time Deposits     1,777,439
      12,105,489
Interest Expense
   Members' Deposits 1,939,545
   Borrowed Funds          88,291
            2,027,836
Net Interest Income 10,077,653
Provision for Loan Losses     1,762,244
Net Interest Income after Provision for Loan Losses          8,315,409
Other Income 3,575,367
Other Expense
  Salaries and Employee Benefits 5,034,720
  Office Operations 2,480,662
  Occupancy 916,544
  Loan Servicing 1,032,545
  Other        553,001
    10,017,472
Net Income before NCUSIF Stabilization Expense 1,873,304
NCUSIF Stabilization Expense      496,448 What is this?
Net Income (Loss)      1,376,856
                 

 

 
NCUAYour savings federally insured to at least $250,000 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.