UMCU Financial Highlights

University of Michigan Credit Union
Consolidated Statement of Income and Expense (Unaudited)
March 31, 2008

Interest income
     Loans $3,372,077
     Securities, interest-bearing balances with other  
     financial institutions and time deposits		            1,024,249
       Total interest income 4,396,326
Interest expense
     Members' deposits 1,599,797
     Borrowed funds                         0
       Total interest expense            1,599,797
       Net interest income 2,796,529
Provision for loan losses               333,637
Net interest income after provision for loan losses            2,462,892
Other income 1,361,209
Other expense
     Salary and employee benefits 1,621,692
     Office operations 826,148
     Occupancy 273,437
     Loan servicing 276,506
     Other              188,052
     Total non-interest expense 3,185,835
                         
Net Income             $638,266
                         

 

 
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.