UMCU Financial Highlights

University of Michigan Credit Union
Statement of Income and Expense
Year-to-Date
December 31, 2006

Interest income
     Loans $12,563,936
     Securities, interest-bearing balances with other
     financial institutions and time deposits            4,004,851
16,568,787
Interest expense
     Members' deposits 6,657,298
     Borrowed funds               483,654
           7,140,952
Net interest income 9,427,835
Provision for loan losses               860,709
Net interest income after provision for loan losses 8,567,126
Other income 4,158,350
Other expenses
     Salaries and employee benefits 5,588,756
     Office operations 3,120,870
     Occupancy 1,020,324
     Loan servicing 1,031,793
     Other               657,013
         11,418,756
Net Income          $1,306,720
                         

 

 
NCUAYour savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government
National Credit Union Administration, a U.S. Government Agency
Equal Housing Lender We do business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act.