2002-'03 Financial Report for the ACFCU 
 
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INTEREST INCOME:
2002
2003
Interest on Loans
 $ 510,970.25
 $ 496,556.80
Income on Investments
 $ 76,524.66
 $ 68,264.12
Misc. Operating
 $ 16,065.83
 $ 29,222.91
TOTAL
$ 603,560.74
$ 594,043.83
 
DIVIDENDS
$ 249,695.70
$ 198,046.39
 
OPERATING EXPENSES:
Employee Compensation
 $ 89,321.51
 $ 94,473.66
Employee Benefits
 $ 29,900.37
 $ 28,883.55
Association Dues
 $ 6,082.14
 $ 6,565.48
Office Operations
 $ 41,943.13
$ 32,812.63
Educational & Promotional
 $3,522.76
$ 3,338.93
Member Insurance
 $ 7,982.57
$ 21,319.72
Provision for Loan Loss
 $ 21,000.00
$ 18,000.00
Federal Supv. Exam
 $ 2,168.93
$ 2,451.48
Annual Meeting
 $ 493.50
$ 548.50
Loan Servicing
 $ 2,749.63
$ 2,793.41
Furniture Depreciation
 $ 4,433.81
$ 8,288.79
Share Draft Expense
 $ 255.71
$ 433.24
Misc. Operating
 $ 2,079.09
$ 2,624.23
Professional and Outside Service
 $ 3,399.62
$ 6,394.75
Travel & Conference Expense
---
$ 5,977.71
Cash Over & Short
 $ 119.50
$ (10.00)
TOTAL
$ 215,452.27
$ 234,896.08
 
NET INCOME
$ 138,412.77
$161,101.36
 
TOTAL MEMBERS
2134
2182
TOTAL LOANS
1082
1085
TOTAL $ OF LOANS
   $ 5,665,518.56
$5,696,870.05
TOTAL $ OF SHARES
   $ 4,395,430.02
$4,716,471.14
TOTAL $ OF CERTIFICATES
   $ 4,253,399.44
$4,568,347.60
TOTAL $ OF SHARE DRAFTS
   $ 256,127.91
$231,551.46
REGULAR RESERVE
   $ 244,003.00
$255,705.21
UNDIVIDED EARNINGS
   $1,529,143.68
$1,678,542.83
 
TOTAL ASSETS
$ 10,731,875.93
$11,500,773.45