UMCU Financial Highlights

University of Michigan Credit Union
Statement of Income and Expense (Unaudited)
Year-to-Date
September 30, 2007

Interest income
     Loans $9,962,923
     Securities, interest-bearing balances with other
     financial institutions and time deposits            3,322,988
13,285,911
Interest expense
     Members' deposits 5,889,688
     Borrowed funds               196,407
           6,086,095
Net interest income 7,199,816
Provision for loan losses               683,996
Net interest income after provision for loan losses 6,515,820
Other income 3,407,615
Other expenses
     Salaries and employee benefits 4,486,100
     Office operations 2,481,152
     Occupancy 829,369
     Loan servicing 822,535
     Other               551,663
           9,170,819
Net Income             $752,616
                         

 

 
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.