Minnesota Valley Credit Union

Financial Highlights

ASSETS             06/30/1612/31/201512/31/201412/31/201312/31/201212/31/2011
*Loans76,107,66871,227,41066,341,42161,248,00954,360,55149,356,372
Allowance for loan loss(266,511)(278,462)(324,607)(295,748)(270,935)(274,261)
Short-term Liquidity386,9861,253,9521,054,8131,213,5031,208,6981,353,200
Corporate Credit Union Investments2,756,7474,531,747606,7472,351,7223,951,7221,621,722
Other Investments (mainly CDs)46,797,46442,486,93336,008,75530,024,68326,654,30122,300,714
Building and Land838,593865,606856,560897,783926,253935,379
Fixed Assets380,534281,616352,457343,278301,185229,824
Other Assets3,079,1571,427,8291,555,9481,875,6912,890,3761,443,824
NCUSIF Deposit1,080,1961,025,130935,487862,549796,322679,419
TOTAL ASSETS131,160,835122,821,760$107,387,581$98,521,471$90,818,474$77,646,193
       
LIABILITIES AND CAPITAL  
*Member Share Deposits117,840,657110,361,55996,833,80989,208,15482,465,51970,574,234
Accounts Payable522,870468,818264,042247,249408,605411,335
Dividends Payable32,17730,54227,31037,40847,75680,812
*Member Capital12,765,13111,960,84110,262,4199,028,6607,896,5946,579,812
TOTAL LIABILITIES AND CAPITAL131,160,835122,821,760$107,387,581$98,521,471$90,818,474$77,646,193
STATEMENT OF EQUITY/LOANS/SHARES      
Beginning Capital10,958,3599,259,9378,026,1786,894,1125,785,3105,019,081
Regular Reserve1,002,4821,002,4821,002,4821,002,4821,002,483876,945
Net Income804,2901,698,4221,233,7591,132,0671,108,801683,786
*TOTAL CAPITAL12,765,13111,960,841$10,262,419$9,028,660$7,896,594$6,579,812
Vehicle Loans28,131,77526,814,878 25,316,78623,794,60323,575,50520,807,910
Consumer Loans9,045,4858,753,4898,177,9217,187,9856,099,6085,318,480
Real Estate Loans35,581,44632,057,04029,327,70726,713,27121,292,63819,958,961
Unsecured Loans3,348,9623,602,0033,519,0073,552,1503,392,8003,271,021
*TOTAL LOANS76,107,66871,227,410$66,341,421$61,248,009$54,360,551$49,356,372
Primary Shares28,050,57425,217,32421,617,66919,624,55117,604,58713,529,751
Money Market52,051,98048,580,74644,042,98440,085,69336,357,75133,201,552
CDs13,099,01211,177,7349,106,26410,085,23310,187,49110,222,448
Checking20,156,69721,186,75418,586,08716,129,06614,986,45011,958,929
IRAs4,482,3954,199,0023,480,8053,283,6113,329,2401,661,554
*TOTAL SHARES117,840,657110,361,559$96,833,809$89,208,153$82,465,519$70,574,234
NET LOAN CHARGE-OFFS55,38253,358$66,707$71,601$106,194$67,025
Interest on loans1,746,8853,306,2513,066,9542,842,1682,716,5862,564,412
Income from investments317,306548,335462,773459,588460,599519,615
Other operating income818,7081,531,2431,284,1401,379,0161,190,665747,964
TOTAL GROSS INCOME2,882,8995,385,8294,813,8674,680,772$4,367,850$3,831,991
Employee compensation and benefits799,3091,530,1131,353,6171,337,5801,288,9961,154,838
Travel and conference expense21,65636,84845,42844,74529,79630,897
Association dues46,78192,65985,22777,75065,45055,674
Office occupancy expense80,300142,680142,064143,269134,042136,222
Office operations expense468,886965,708851,150763,258665,707552,553
Education and promotion expense83,365184,108138,914125,37198,73892,775
Loan servicing expense218,413316,853286,836328,948264,214208,285
Professional and outside services114,156203,444190,982171,117171,532158,842
Provision for loan losses43,43113,502102,657108,48777,41732,775
Member insurance05646,8476,9017,0387,163
Operating fees paid to NCUA10,49618,06815,49821,59819,91816,346
Interest on borrowed money4635208800
Annual meeting & Member Appreciation expense6,6446,1956,3696,8635,3445,844
Miscellaneous operating expense5501,4321,9522,487(602)4,667
TOTAL OPERATING EXPENSES1,850,5563,498,673$3,124,885$3,029,887$2,750,173$2,456,882
Other non-operating income76,639312,8347,3562,13217,11519,455
Dividends paid to members(261,215)(488,033)(359,901)(343,372)(450,339)(540,923)
Pre Net Income804,2901,698,422$1,233,759$1,201,070$1,184,452$853,641
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)
Post Net Income804,2901,698,422$1,233,759$1,132,067$1,108,801$683,786
 

  

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