Minnesota Valley Credit Union

Financial Highlights

ASSETS6/30/201512/31/201412/31/201312/31/201212/31/201112/31/2010
*Loans67,574,61366,341,42161,248,00954,360,55149,356,37242,636,384
Allowance for loan loss(306,108)(324,607)(295,748)(270,935)(274,261)(310,592)
Short-term Liquidity819,3961,054,8131,213,5031,208,6981,353,200852,126
Corporate Credit Union Investments4,581,747606,7472,351,7223,951,7221,621,7223,220,071
Other Investments (mainly CDs)39,309,63336,008,75530,024,68326,654,30122,300,71422,705,724
Building and Land892,859856,560897,783926,253935,379978,659
Fixed Assets275,910352,457343,278301,185229,824189,183
Other Assets1,854,2831,555,9481,875,6912,890,3761,443,8241,696,609
NCUSIF Deposit946,206935,487862,549796,322679,419647,161
TOTAL ASSETS115,948,539$107,387,581$98,521,471$90,818,474$77,646,193$72,615,325
       
LIABILITIES AND CAPITAL 
*Member Share Deposits104,404,80496,833,80989,208,15482,465,51970,574,23466,434,495
Accounts Payable311,180264,042247,249408,605411,335198,567
Dividends Payable29,25527,31037,40847,75680,81286,238
*Member Capital11,203,29910,262,4199,028,6607,896,5946,579,8125,896,025
TOTAL LIABILITIES AND CAPITAL115,948,539$107,387,581$98,521,471$90,818,474$77,646,193$72,615,325
STATEMENT OF EQUITY/LOANS/SHARES      
Beginning Capital9,259,9378,026,1786,894,1125,785,3105,019,0814,476,646
Regular Reserve1,002,4821,002,4821,002,4821,002,483876,945876,945
Net Income940,8801,233,7591,132,0671,108,801683,786542,435
*TOTAL CAPITAL11,203,299$10,262,419$9,028,660$7,896,594$6,579,812$5,896,026
Vehicle Loans24,738,391 25,316,78623,794,60323,575,50520,807,91017,940,203
Consumer Loans8,973,1618,177,9217,187,9856,099,6085,318,4804,608,738
Real Estate Loans30,449,86129,327,70726,713,27121,292,63819,958,96117,175,817
Unsecured Loans3,413,2003,519,0073,552,1503,392,8003,271,0212,911,626
*TOTAL LOANS67,574,613$66,341,421$61,248,009$54,360,551$49,356,372$42,636,384
Primary Shares24,472,84921,617,66919,624,55117,604,58713,529,75111,444,953
Money Market47,363,44044,042,98440,085,69336,357,75133,201,55230,373,182
CDs10,409,3689,106,26410,085,23310,187,49110,222,44812,051,983
Checking18,175,01818,586,08716,129,06614,986,45011,958,92911,334,939
IRAs3,984,1283,480,8053,283,6113,329,2401,661,5541,229,438
*TOTAL SHARES104,404,804$96,833,809$89,208,153$82,465,519$70,574,234$66,434,495
NET LOAN CHARGE-OFFS28,696$66,707$71,601$106,194$67,025$74,449
Interest on loans1,612,0743,066,9542,842,1682,716,5862,564,4122,568,782
Income from investments257,404462,773459,588460,599519,615535,760
Other operating income695,5861,284,1401,379,0161,190,665747,964776,405
TOTAL GROSS INCOME2,565,0644,813,8674,680,772$4,367,850$3,831,991$3,880,947
Employee compensation and benefits762,4621,353,6171,337,5801,288,9961,154,8381,079,697
Travel and conference expense18,83145,42844,74529,79630,89732,368
Association dues45,56985,22777,75065,45055,67453,482
Office occupancy expense71,507142,064143,269134,042136,222133,743
Office operations expense474,764851,150763,258665,707552,553537,850
Education and promotion expense80,466138,914125,37198,73892,77581,475
Loan servicing expense149,765286,836328,948264,214208,285239,583
Professional and outside services100,969190,982171,117171,532158,842155,010
Provision for loan losses12,477102,657108,48777,41732,77571,337
Member insurance5646,8476,9017,0387,1637,240
Operating fees paid to NCUA8,25115,49821,59819,91816,34615,202
Interest on borrowed money202088000
Annual meeting & Member Appreciation expense6,1956,3696,8635,3445,8446,913
Miscellaneous operating expense1,1741,9522,487(602)4,6671,177
TOTAL OPERATING EXPENSES1,720,514$3,124,885$3,029,887$2,750,173$2,456,882$2,415,077
Other non-operating income309,1717,3562,13217,11519,45519,611
Dividends paid to members(200,343)(359,901)(343,372)(450,339)(540,923)(644,431)
Pre Net Income940,880$1,233,759$1,201,070$1,184,452$853,641$841,050
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.00(69,004)(75,651)(169,855)(298,615)
Post Net Income940,880$1,233,759$1,132,067$1,108,801$683,786$542,435
 

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