Del Norte Credit Union
Financial Report
A message from our CEO, Chuck Valenti:
Credit unions have been cited by the national media as "financial safe havens" and Del Norte Credit Union is no exception. Your deposits are safe and secure with us.
We have a solid balance sheet and an excellent capital position which has earned us the highest five-star rating from BauerFinancial Inc., the nation's most well-known independent rating service for banks and credit unions. We were also recognized by IDC Financial Publishing, the nation's leading analysts of all government-reporting financial institutions, with their highest rating of "superior". For further information refer to www.bauerfinancial.com or www.idcfp.com.
DEL NORTE CREDIT UNION STATEMENT OF FINANCIAL CONDITION
December 31, 2011
| ASSETS | |
| Loans | 234,524,917 |
| Cash | 111,733,785 |
| Investments | 26,450,223 |
| Fixed Assets | 14,842,222 |
| Other Assets | 14,146,843 |
|
401,697,989 |
| LIABILITIES & EQUITY | |
| LIABILITIES | |
| Total Liabilities | 5,349,793 |
| EQUITY | |
| Total Shares | 350,750,472 |
| Total Equity | 45,597,724 |
|
401,697,989 |
YEAR-TO-DATE INCOME STATEMENT
| Interest Income | 13,980,159 |
| Interest Expense | (1,892,495) |
Net Interest Margin |
12,087,663 |
| Fee and Other Income | 5,895,403 |
| Income Before Operating Expenses | 17,983,066 |
| Operating Expenses | 12,353,013 |
| Provision for Loan & Share Losses | 2,084,000 |
| Non-Operating Gain (Loss) | (955,932) |
| Interest on Borrowed Money | - |
| NET INCOME | 2,590,121 |
For further information refer to the NCUA Web site http://www.ncua.gov and use charter #64759 to pull additional financial reports for Del Norte Credit Union.
