Manager’s Statistical Report
| 2023 | 2024 | Difference | |
|---|---|---|---|
| Total Personal Active Loans | 105 / $1,248,977.99 | 96 / $1,063,244.36 | difference 9 less/ $185,733.63 less |
| Total Investments | $362,301.89 | $411,291.06 | |
| Total Shares | $1,447,278.72 | $1,301,650.34 | difference $145,628.38 less |
| Total Assets & Liabilities | $1,627,996.29 | $1,478,375.77 | difference $236,699.96 less |
| Total Membership | 401 | 391 | 10 less members |
| Total Loans for year | 35 / $588,095.35 | 20 / $285,454.74 | difference 15 less / $302,640.61 less |
| Total Income | $85,141.67 | $90,238.66 | $5,096.99 more |
| Total Expenses | $73,256.60 | $73,040.10 | $216.50 less |
| Net Income | $7,071.16 | $10,665.61 | $3,594.15 more |
| Dividend Paid for Year | $4,813.91 | $6,532.95 | $1,719.04 more |
| Undivided Earnings | $152,045.31 | $149,310.01 | $2,735.30 less |
| Total Loans since Organization | 4,018 / $18,799,555.87 | 4,038 / $19,085,010.61 | 20 / $285,454.74 more |
Board of Directors
| Chairman: | Ray Taylor 3-1-24 to 2-28-26 |
| Vice Chairman: | Daniel Mendoza 3-1-25 to 2-28-27 |
| Secretary: | Aubery Adams 3-1-25 to 2-28-27 |
| Membership: | Alan Myrick 3-1-24 to 2-29-26 |
| Treasurer: | Justin Gatlin 3-1-25 to 2-28-27 |
| Director: | Mark Smith 3-1-25 to 2-28-27 |
| Director: | David Parks 3-1-24 to 2-29-26 |
2024 Annual Balance Sheet and Statement of Income and Expense
| Year Ending 12/31 | 2024 | 2023 |
|---|---|---|
| Operating activities | ||
| Total Income | $90,238.66 | $85,141.67 |
| Total Operating Expenses | $73,040.10 | $73,256.60 |
| Dividends Paid | $6,532.95 | $4,813.91 |
| Net Loss/Earnings | $10,665.61 | $7,071.16 |
| Investing activities | ||
| Deposits with banks | $198,839.20 | $161,801.89 |
| Certificates of Deposit | $200,500.00 | $200,500.00 |
| NCUA | $14,472.79 | $16,941.36 |
| Total Personal Loans | $1,063,244.36 (96 loans) | $1,248,977.99 (105 loans) |
| Less Allowance for Loan Loss | $10,632.44 | $12,489.77 |
| Total Assets | $1,478,375.77 | $1,627,996.29 |
| Liabilities | ||
| Total Shares | $1,301,650.34 | $1,447,278.72 |
| Undivided Earnings | $149,310.01 | $150,091.88 |
| Total Membership | 391 | 401 |
| Total Loans made | $285,454.74 | $588,095.35 |
| Total Loans made since Organization | $19,085,010.61 (4,038) | |
Proverbs 3:9–10
Honour the LORD with thy substance, and with the firstfruits of all thine increase: So shall thy barns be filled with plenty, and thy presses shall burst out with new wine.