Financial
Highlights
We take pride in empowering our members to achieve their financial goals and dreams. Our commitment to transparency and fiscal responsibility is reflected in our financial highlights, showcasing the strength and stability that underpin our member-focused approach. Explore this page to gain insights into our sound financial performance, innovative products, and the impact we make in the communities we serve.
| ASSETS | 12/31/2024 | 06/30/2024 | 12/31/2023 | 06/30/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/18 | 12/31/17 | 12/31/16 | 12/31/15 | 12/31/14 | 12/31/13 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| *Loans | 152,564,913 | 148,054,670 | 142,903,395 | 136,356,031 | 133,249,214 | 110,352,214 | 113,329,623 | 109,553,249 | 102,057,786 | 88,566,399 | 78,391,122 | 71,227,410 | 66,341,421 | 61,248,009 |
| Allowance for Loan Loss | -986,108 | -801,006 | -826,260 | -734,088 | -737,329 | -658,743 | -724,888 | -511,050 | -348,344 | -284,486 | -292,879 | -278,462 | -324,607 | -295,748 |
| Short-term Liquidity | 1,430,047 | -877,405 | 161,998 | 918,708 | 277,812 | 170,271 | 447,669 | 1,350,024 | 978,435 | 1,078,912 | 44,900 | 1,253,952 | 1,054,813 | 1,213,503 |
| Corporate Credit Union Investments | 21,033,800 | 13,292,854 | 13,430,662 | 15,149,577 | 12,789,226 | 16,780,809 | 12,728,580 | 9,034,992 | 4,050,306 | 5,594,697 | 5,306,747 | 4,531,747 | 606,747 | 2,351,722 |
| Other Investments (mainly CDs) | 115,481,276 | 119,714,629 | 119,386,192 | 123,103,162 | 127,995,379 | 123,929,587 | 91,158,672 | 57,184,522 | 56,083,195 | 56,636,193 | 50,922,286 | 42,486,933 | 36,008,755 | 30,024,683 |
| Building and Land | 1,083,218 | 1,106,607 | 1,130,166 | 1,153,110 | 1,177,241 | 1,227,393 | 1,195,141 | 1,221,184 | 1,268,508 | 894,592 | 946,839 | 865,606 | 856,560 | 897,783 |
| Fixed Assets | 558,722 | 485,039 | 514,646 | 465,548 | 429,989 | 529,366 | 484,473 | 447,035 | 410,924 | 359,769 | 349,365 | 281,616 | 352,457 | 343,278 |
| Other Assets | 6,062,493 | 5,696,614 | 4,258,048 | 4,140,130 | 3,523,546 | 3,001,900 | 2,338,184 | 3,051,431 | 1,931,890 | 1,664,870 | 2,383,359 | 1,427,829 | 1,555,948 | 1,875,691 |
| NCUSIF Deposit | 2,491,944 | 2,452,152 | 2,454,445 | 2,450,525 | 2,440,290 | 2,105,925 | 1,823,277 | 1,535,182 | 1,447,427 | 1,322,111 | 1,148,494 | 1,025,130 | 935,487 | 862,549 |
| TOTAL ASSETS | 299,728,064 | 289,128,870 | 283,388,399 | 282,972,279 | 281,172,414 | 257,438,723 | $222,780,731 | $182,866,569 | $167,880,127 | $155,833,060 | $139,200,133 | $122,821,760 | $107,387,581 | $98,521,471 |
| LIABILITIES AND CAPITAL | ||||||||||||||
| *Member Share Deposits | 265,573,726 | 257,800,251 | 253,161,338 | 253,262,006 | 252,532,150 | 231,340,854 | 199,940,775 | 163,193,618 | 149,904,453 | 140,202,271 | 125,221,324 | 110,361,559 | 96,833,809 | 89,208,154 |
| Accounts Payable | 572,131 | -1,027,778 | -717,089 | 102,835 | 370,818 | 600,629 | 724,060 | 1,013,233 | 949,588 | 431,171 | 365,104 | 468,818 | 264,042 | 247,249 |
| Dividends Payable | 680,342 | 740,898 | 528,398 | 321,854 | 107,003 | 65,420 | 83,906 | 99,746 | 71,328 | 46,457 | 34,972 | 30,542 | 27,310 | 37,408 |
| *Member Capital | 32,901,866 | 31,615,500 | 30,415,752 | 29,491,255 | 28,162,443 | 25,431,821 | 22,032,010 | 18,559,972 | 16,954,758 | 15,153,160 | 13,578,732 | 11,960,841 | 10,262,419 | 9,028,660 |
| TOTAL LIABILITIES AND CAPITAL | 299,728,064 | 289,128,870 | 283,388,399 | 282,972,279 | 281,172,414 | 257,438,723 | $222,780,731 | $182,866,569 | $167,880,127 | $155,833,059 | $139,200,133 | $122,821,760 | $107,387,581 | $98,521,471 |
| STATEMENT OF EQUITY/LOANS/SHARES | ||||||||||||||
| Beginning Capital | 29,201,070 | 29,201,070 | 26,947,760 | 26,947,760 | 25,217,009 | 21,029,528 | 17,557,490 | 15,952,276 | 14,150,678 | 12,576,250 | 10,958,359 | 9,259,937 | 8,026,178 | 6,894,112 |
| Regular Reserve | 1,214,683 | 1,214,683 | 1,214,683 | 1,214,683 | 1,214,683 | 1,002,482 | 1,002,482 | 1,002,482 | 1,002,481 | 1,002,481 | 1,002,482 | 1,002,482 | 1,002,482 | 1,002,482 |
| Net Income | 2,486,114 | 1,199,748 | 2,253,309 | 1,328,812 | 1,730,751 | 3,399,811 | 3,472,038 | 1,605,214 | 1,801,598 | 1,574,427 | 1,617,891 | 1,698,422 | 1,233,759 | 1,132,067 |
| *TOTAL CAPITAL | 32,901,866 | 31,615,500 | 30,415,752 | 29,491,255 | 28,162,443 | 25,431,821 | 22,032,010 | 18,559,972 | $16,954,757 | $15,153,159 | $13,578,732 | $11,960,841 | $10,262,419 | $9,028,660 |
| Vehicle Loans | 52,177,861 | 51,954,639 | 50,468,319 | 49,725,781 | 48,589,925 | 42,018,681 | 44,417,049 | 44,341,326 | 42,760,468 | 35,695,333 | 28,856,525 | 26,814,878 | 25,316,786 | 23,794,603 |
| Consumer Loans | 10,194,638 | 10,942,773 | 10,761,257 | 10,827,861 | 10,521,495 | 8,870,193 | 8,498,231 | 9,084,047 | 8,857,301 | 8,478,725 | 9,116,591 | 8,753,489 | 8,177,921 | 7,187,985 |
| Real Estate Loans | 87,084,219 | 82,311,111 | 78,858,996 | 73,048,974 | 71,589,603 | 57,150,013 | 57,869,906 | 53,032,512 | 47,408,696 | 41,138,528 | 37,029,731 | 32,057,040 | 29,327,707 | 26,713,271 |
| Unsecured Loans | 2,750,215 | 2,846,147 | 2,814,823 | 2,753,415 | 2,548,192 | 2,313,327 | 2,544,438 | 3,095,364 | 3,031,320 | 3,253,811 | 3,388,275 | 3,602,003 | 3,519,007 | 3,552,150 |
| *TOTAL LOANS | 152,564,913 | 148,054,670 | 142,903,395 | 136,356,031 | 133,249,214 | 110,352,214 | $113,329,624 | $109,553,249 | $102,057,786 | $88,566,399 | $78,391,122 | $71,227,410 | $66,341,421 | $61,248,009 |
| Primary Shares | 65,445,133 | 64,529,352 | 64,561,783 | 67,245,702 | 70,789,215 | 67,028,047 | 56,496,186 | 40,930,185 | 37,098,689 | 33,567,991 | 29,810,741 | 25,217,324 | 21,617,669 | 19,624,551 |
| Money Market | 83,307,756 | 81,039,398 | 79,404,125 | 87,367,909 | 97,200,624 | 94,482,431 | 75,659,100 | 63,616,755 | 59,764,191 | 59,944,537 | 54,163,931 | 48,580,746 | 44,042,984 | 40,085,693 |
| CDs | 58,761,145 | 54,985,364 | 51,948,987 | 39,458,839 | 27,421,991 | 16,347,049 | 19,828,192 | 22,552,297 | 20,448,527 | 15,003,962 | 13,422,637 | 11,177,734 | 9,106,264 | 10,085,233 |
| Checking | 49,601,302 | 49,495,781 | 49,980,425 | 51,881,197 | 50,380,523 | 47,483,674 | 42,043,587 | 30,491,780 | 27,155,447 | 26,449,970 | 23,279,376 | 21,186,754 | 18,586,087 | 16,129,066 |
| IRA's | 8,458,390 | 7,750,356 | 7,266,017 | 7,308,359 | 6,739,797 | 5,999,652 | 5,913,690 | 5,602,601 | 5,437,598 | 5,235,808 | 4,544,639 | 4,199,002 | 3,480,805 | 3,283,611 |
| *TOTAL SHARES | 265,573,726 | 257,800,251 | 253,161,338 | 253,262,006 | 252,532,150 | 231,340,854 | $199,940,775 | $163,193,618 | $149,904,453 | $140,202,271 | $125,221,324 | $110,361,559 | $96,833,809 | $89,208,153 |
| NET LOAN CHARGE-OFFS | 183,878 | 104,026 | -32,109 | 8,783 | 12,569 | 115,792 | $150,395 | $730,267 | $92,149 | $125,855 | $115,365 | $53,358 | $66,707 | $71,601 |
| Interest on Loans | 8,370,897 | 3,968,824 | 6,654,475 | 3,028,091 | 4,747,482 | 4,379,784 | 4,832,190 | 4,902,553 | 4,097,600 | 3,663,552 | 3,571,057 | 3,306,251 | 3,066,954 | 2,842,168 |
| Income From Investments | 3,505,010 | 1,697,968 | 2,313,400 | 1,104,452 | 1,549,245 | 1,337,771 | 1,387,869 | 1,337,405 | 1,107,549 | 904,181 | 658,594 | 548,335 | 462,773 | 459,588 |
| Other Operating Income | 2,300,488 | 1,094,344 | 2,319,953 | 1,124,567 | 2,524,767 | 3,279,402 | 4,414,091 | 2,384,036 | 2,088,932 | 1,858,856 | 1,923,157 | 1,531,243 | 1,284,140 | 1,379,016 |
| TOTAL GROSS INCOME | 14,176,396 | 6,761,136 | 11,287,828 | 5,257,110 | 8,821,494 | 8,996,957 | $10,634,150 | $8,623,994 | $7,294,081 | $6,426,589 | $6,152,808 | $5,385,829 | $4,813,867 | $4,680,772 |
| Employee Compensation and Benefits | 2,964,085 | 1,477,000 | 2,608,983 | 1,349,348 | 2,792,803 | 2,505,636 | 2,297,437 | 1,991,177 | 1,919,710 | 1,883,439 | 1,601,175 | 1,530,113 | 1,353,617 | 1,337,580 |
| Travel and Conference Expense | 46,094 | 20,727 | 43,841 | 21,795 | 51,455 | 27,960 | 37,748 | 46,495 | 43,714 | 51,664 | 41,376 | 36,848 | 45,428 | 44,745 |
| Association Dues | 54,140 | 26,424 | 54,082 | 26,100 | 53,330 | 46,560 | 52,470 | 47,341 | 49,460 | 49,277 | 82,336 | 92,659 | 85,227 | 77,750 |
| Office Occupancy Expense | 163,607 | 80,850 | 184,740 | 102,747 | 176,005 | 174,341 | 158,371 | 180,335 | 165,543 | 158,047 | 164,744 | 142,680 | 142,064 | 143,269 |
| Office Operations Expense | 2,293,457 | 1,116,710 | 2,139,572 | 1,007,506 | 2,110,310 | 1,959,787 | 1,809,454 | 1,717,873 | 1,299,220 | 1,156,603 | 1,015,976 | 965,708 | 851,150 | 763,258 |
| Education and Promotion Expense | 362,424 | 169,747 | 332,058 | 153,727 | 299,856 | 284,530 | 234,457 | 250,992 | 259,231 | 236,162 | 195,819 | 184,108 | 138,914 | 125,371 |
| Loan Servicing Expense | 506,457 | 228,964 | 438,857 | 203,318 | 457,156 | 454,915 | 613,093 | 458,712 | 661,872 | 556,390 | 492,037 | 316,853 | 286,836 | 328,948 |
| Professional and Outside Services | 321,778 | 158,271 | 303,592 | 141,928 | 269,230 | 282,498 | 288,851 | 286,109 | 255,604 | 228,075 | 240,394 | 203,444 | 190,982 | 171,117 |
| Provision for Loan Losses | 343,725 | 78,772 | 56,822 | 12,024 | 41,479 | 49,647 | 364,234 | 892,972 | 156,007 | 117,463 | 129,782 | 13,502 | 102,657 | 108,487 |
| Member Insurance | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 564 | 6,847 | 6,901 |
| Operating Fees Paid to NCUA | 51,756 | 24,766 | 44,090 | 21,548 | 41,619 | 45,146 | 48,677 | 44,213 | 38,816 | 29,423 | 21,672 | 18,068 | 15,498 | 21,598 |
| Interest on Borrowed Money | 736 | 0 | 0 | 0 | 8 | 0 | 2 | 3,183 | 461 | 3,745 | 46 | 35 | 20 | 88 |
| Annual Meeting & Member Appreciation Expense | 18,829 | 0 | 16,947 | 0 | 3,498 | 0 | 0 | 15,239 | 13,667 | 12,112 | 6,644 | 6,195 | 6,369 | 6,863 |
| Miscellaneous Operating Expense | -601 | 8,401 | 13,504 | 1,207 | 52,036 | 302 | 1,056 | 5,088 | 5,308 | 271 | 477 | 1,432 | 1,952 | 2,487 |
| TOTAL OPERATING EXPENSES | 7,126,487 | 3,390,632 | 6,237,089 | 3,017,200 | 6,265,826 | 5,831,322 | $5,905,850 | $5,939,729 | $4,868,013 | $4,482,672 | $3,992,478 | $3,512,210 | $3,227,562 | $3,138,462 |
| Other Non-operating Income | 30,527 | 24,996 | 382,978 | 377,477 | 483,348 | 1,130,876 | -187,623 | 121,239 | 282,148 | 312,199 | 76,639 | 312,834 | 7,356 | 2,132 |
| Dividends Paid to Members | -4,594,322 | -2,195,322 | -3,180,408 | -1,288,545 | -1,308,265 | -896,700 | -1,068,639 | -1,200,290 | -906,019 | -681,688 | -619,078 | -488,033 | -359,901 | -343,372 |
| Pre Net Income | 2,486,114 | 1,199,748 | 2,253,309 | 1,328,812 | 1,730,751 | 3,399,811 | $3,472,038 | $1,605,214 | $1,801,598 | $1,574,428 | $1,617,891 | $1,698,422 | $1,233,759 | $1,201,070 |
| 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. | NA | NA | NA | NA | NA | NA | NA | N/A | N/A | N/A | N/A | N/A | N/A | -69,004 |
| Post Net Income | 2,486,114 | 1,199,748 | 2,253,309 | 1,328,812 | 1,730,751 | 3,399,811 | $3,472,038 | $1,605,214 | $1,801,598 | $1,574,427 | $1,617,891 | $1,698,422 | $1,233,759 | $1,132,067 |
| Off Balance Sheet Portfolio of FHLB First Mortgages Sold but Servicing Retained | 174,469,832 | 178,422,044 | 181,056,775 | 186,946,722 | 188,904,241 | 190,027,773 | $170,560,161 | $111,338,464 | $93,168,978 | $77,875,525 | $63,957,681 | $45,343,882 | $33,824,384 | $26,531,286 |
| Annual Coop Patronage Dividend Paid to Members | $90,0000 | $90,000 | $90,000 | $90,000 | $80,000 | $100,000 | $90,000 | $80,000 | $90,000 | $70,000 | $80,000 | $60,000 |