Minnesota Valley Credit Union

Financial Highlights

 

 

ASSETS

12/31/14

12/31/13

12/31/12

12/31/11

12/31/10

12/31/09

*Loans

66,341,421

61,248,009

54,360,551

49,356,372

42,636,384

41,689,991

Allowance for loan loss

(318,318)

(295,748)

(270,935)

(274,261)

(310,592)

(313,704)

Short-term Liquidity

1,054,813

1,213,503

1,208,698

1,353,200

852,126

1,503,563

Corporate Credit Union Investments

2,651,722

2,351,722

3,951,722

1,621,722

3,220,071

3,692,962

Other Investments (mainly CDs)

35,603,946

30,024,683

26,654,301

22,300,714

22,705,724

17,520,440

Building and Land

856,560

897,783

926,253

935,379

978,659

1,013,903

Fixed Assets

352,457

343,278

301,185

229,824

189,183

168,086

Other Assets

1,053,702

1,875,691

2,890,376

1,443,824

1,696,609

1,375,451

NCUSIF Deposit

935,487

862,549

796,322

679,419

647,161

585,042

TOTAL ASSETS

$107,387,581

$98,521,471

$90,818,474

$77,646,193

$72,615,325

$66,785,734


LIABILITIES AND CAPITAL

 

 

 

 

 

 

*Member Share Deposits

96,833,809

89,208,154

82,465,519

70,574,234

66,434,495

61,149,669

Accounts Payable

119,461

247,249

408,605

411,335

198,567

164,332

Dividends Payable

27,310

37,408

47,756

80,812

86,238

118,142

*Member Capital

10,262,419

9,028,660

7,896,594

6,579,812

5,896,025

5,353,590

TOTAL LIABILITIES AND CAPITAL

$107,387,581

$98,521,471

$90,818,474

$77,646,193

$72,615,325

$66,785,734

STATEMENT OF EQUITY/LOANS/SHARES

 

 

 

 

 

 

Beginning Capital

8,026,178

6,894,112

5,785,310

5,019,081

4,476,646

4,320,527

Regular Reserve

1,002,482

1,002,482

1,002,483

876,945

876,945

876,945

Net Income

1,233,759

1,132,067

1,108,801

683,786

542,435

156,119

*TOTAL CAPITAL

$10,262,419

$9,028,660

$7,896,594

$6,579,812

$5,896,026

$5,353,590

Vehicle Loans

 25,316,786

23,794,603

23,575,505

20,807,910

17,940,203

18,436,308

Consumer Loans

8,177,921

7,187,985

6,099,608

5,318,480

4,608,738

4,503,123

Real Estate Loans

29,327,707

26,713,271

21,292,638

19,958,961

17,175,817

16,062,744

Unsecured Loans

2,203,467

3,552,150

3,392,800

3,271,021

2,911,626

2,687,816

*TOTAL LOANS

$66,341,421

$61,248,009

$54,360,551

$49,356,372

$42,636,384

$41,689,991

Primary Shares

21,617,669

19,624,551

17,604,587

13,529,751

11,444,953

9,537,513

Money Market

44,042,984

40,085,693

36,357,751

33,201,552

30,373,182

28,106,041

CDs

9,106,264

10,085,233

10,187,491

10,222,448

12,051,983

9,806,821

Checking

18,586,087

16,129,066

14,986,450

11,958,929

11,334,939

10,722,101

IRAs

3,480,805

3,283,611

3,329,240

1,661,554

1,229,438

2,977,193

*TOTAL SHARES

$96,833,809

$89,208,153

$82,465,519

$70,574,234

$66,434,495

$61,149,669

NET LOAN CHARGE-OFFS

$40,544

$71,601

$106,194

$67,025

$74,449

$102,552

Interest on loans

3,066,954

2,842,168

2,716,586

2,564,412

2,568,782

2,754,471

Income from investments

462,773

459,588

460,599

519,615

535,760

473,291

Other operating income

1,284,140

1,379,016

1,190,665

747,964

776,405

644,630

TOTAL GROSS INCOME

3,557,654

4,680,772

$4,367,850

$3,831,991

$3,880,947

$3,872,392

Employee compensation and benefits

1,353,617

1,337,580

1,288,996

1,154,838

1,079,697

1,059,487

Travel and conference expense

45,428

44,745

29,796

30,897

32,368

27,198

Association dues

85,227

77,750

65,450

55,674

53,482

46,951

Office occupancy expense

142,064

143,269

134,042

136,222

133,743

128,747

Office operations expense

851,150

763,258

665,707

552,553

537,850

508,849

Education and promotion expense

138,914

125,371

98,738

92,775

81,475

68,745

Loan servicing expense

286,736

328,948

264,214

208,285

239,583

283,560

Professional and outside services

190,982

171,117

171,532

158,842

155,010

147,205

Provision for loan losses

102,657

108,487

77,417

32,775

71,337

145,193

Member insurance

6,847

6,901

7,038

7,163

7,240

6,522

Operating fees paid to NCUA

15,498

21,598

19,918

16,346

15,202

13,420

Interest on borrowed money

20

88

0

0

0

12

Annual meeting & Member Appreciation expense

6,369

6,863

5,344

5,844

6,913

4,157

Miscellaneous operating expense

1,952

2,487

(602)

4,667

1,177

1,493

TOTAL OPERATING EXPENSES

$3,124,885

$3,029,887

$2,750,173

$2,456,882

$2,415,077

$2,441,539

Other non-operating income

7,356

2,132

17,115

19,455

19,611

18,233

Dividends paid to members

(359,901)

(343,372)

(450,339)

(540,923)

(644,431)

(818,698)

Pre Net Income

$1,233,759

$1,201,070

$1,184,452

$853,641

$841,050

$630,388

Our pro-rata share, based on insured deposits, of the National Credit Union Deposit Insurance Fund (like the FDIC) recapitalization expense. This expense will trend downward and is entirely unrelated to MVFCU operations.

0

 

(69,004)

 

(75,651)

(169,855)

(298,615)

(474,268)

Post Net Income

$1,233,759

$1,132,067

$1,108,801

$683,786

$542,435

$156,119

 

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