70 Years of Serving Our Members. For People - Not Profit.
Condition of Financial Statement
Monthly Statement of Financial Condition
December 31, 2023
| Assets | Dec 2023 | Dec 2022 |
|---|---|---|
| Loans to Members | $22,142,395.25 | $20,988,177.41 |
| Allowance for Loan Loss | ( 202,954.06) | ( 90,903.54) |
| Receivables | 0.00 | 0.00 |
| Cash | 1,718,662.20 | 903,071.34 |
| Investments | 12,569,430.84 | 11,086,726.28 |
| Prepaid Expenses & Deferred Charges | 142,351.66 | 124,635.53 |
| Fixed Assets | 872,132.88 | 900,007.70 |
| Accrued Income | 118,917.01 | 86,550.28 |
| Deposit in NCUSIF | 283,503.14 | 280,399.27 |
| Other Assets | 8,173.40 | 8,173.40 |
| Total Assets | $37,652,612.32 | $34,286,837.67 |
| Liabilities & Equity | Dec 2023 | Dec 2022 |
| Accounts Payable | $194,487.90 | $357,992.57 |
| Notes Payable | 0.00 | 0.00 |
| Dividends Payable | 57,737.17 | 47,928.20 |
| Taxes Payable | 0.00 | 0.00 |
| Accrued Expenses | 372,123.61 | 299,460.59 |
| Other Liabilities | 275,131.56 | 205,492.63 |
| Total Liabilities | $899,480.24 | $910,873.99 |
| Member Equity | Dec 2023 | Dec 2022 |
| Regular Shares | $17,112,739.43 | $18,953,799.24 |
| Share Drafts | 845,411.51 | 548,126.98 |
| IRAs | 0.00 | 0.00 |
| Certificates | 14,464,026.34 | 9,542,817.71 |
| Other Deposits | 0.00 | 0.00 |
| Total Member Equity | $32,422,177.28 | $29,044,743.93 |
| Reserves & Undivided Earnings | Dec 2023 | Dec 2022 |
| Regular & Legal Reserves | $0.00 | $0.00 |
| Other Reserves | 0.00 | 0.00 |
| Undivided Earnings | 4,188,000.26 | 4,095,576.45 |
| Current Period Net Income | 142,954.54 | 235,643.30 |
| Total Capital | $4,330,954.80 | $4,331,219.75 |
| Total Liabilities & Equity | $34,286,837.67 | $33,266,829.73 |
Monthly Statement of Income and Expenses
December 31, 2023
| Income | Dec 2023 | Period-to-Date | Year-to-Date |
|---|---|---|---|
| Income from Loans | $158,477.01 | $462,707.65 | $1,722,608.58 |
| Investment Income | 104,492.07 | 172,857.95 | 408,219.35 |
| Fees & Charges | 4,766.43 | 13,939.94 | 53,843.13 |
| Miscellaneous Income | 1,713.56 | 6,037.88 | 18,945.28 |
| Total Income | $269,449.07 | $655,543.42 | $2,203,616.34 |
| Cost of Funds | Dec 2023 | Period-to-Date | Year-to-Date |
| Dividends on Accounts | $71,693.34 | $207,331.40 | $638,955.81 |
| Cost of Borrowed Money | 2.44 | 90.72 | 641.57 |
| Total Cost of Funds | $71,695.78 | $207,422.12 | $639,597.38 |
| Expenses | Dec 2023 | Period-to-Date | Year-to-Date |
| Employee Compensation | $55,258.49 | $150,270.25 | $570,872.46 |
| Employee Benefits | 12,638.98 | 32,353.94 | 111,649.571 |
| Travel & Conferences | 1,273.79 | 9,705.56 | 33,665.48 |
| Association Dues | 1,273.79 | 9,705.56 | 33,665.48 |
| Office Occupancy | 2,375.40 | 9,747.59 | 48,666.58 |
| Office Operations | 6,156.68 | 34,182.64 | 147,349.27 |
| Educational & Promotional | 5,236.61 | 36,580.69 | 132,647.95 |
| Loan Servicing | 992.91 | 3,298.87 | 14,101.25 |
| Professional & Outside Services | 22,154.55 | 76,880.23 | 254,564.28 |
| Provision for Loan Losses | 54,738.59 | 45,613.71 | 52,8835.74 |
| Member Insurances | 0.00 | 0.00 | 0.00 |
| Miscellaneous Expenses | 4,544.41 | 11,536.839 | 46,485.16 |
| Total Operating Expenses | $165,370.41 | $410,170.31 | $1,421,064.42 |
| Net Operating Income (LOSS) | $32,382.88 | $37,950.99 | $142,954.554 |
| Expenses | Dec 2023 | Period-to-Date | Year-to-Date |
| Gain/(Loss) on Sale of Investments | $0.00 | $0.00 | $0.00 |
| Gain/(Loss) on Sale of Fixed Assets | 0.00 | 0.00 | 0.00 |
| Other Non-operating Gains or (Losses) | 0.00 | 0.00 | 0.00 |
| Total Non-Operating Expenses | $0.00 | $0.00 | $0.00 |
| Net Income | $32,382.88 | $37,950.99 | $142,954.54 |
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504 Clubview Dr.
Levelland Texas 79336
Mon-Fri: 10 AM - 5 PM
Levelland Texas 79336
Mon-Fri: 10 AM - 5 PM
(806) 894-6204
(806) 897-4071
Routing #:
311385689
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*APR = Annual Percentage Rate. Rate based on creditworthiness and term of loan. Rates are subject to change at any time and are not guaranteed.
**APY = Annual Percentage Yield.
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