SELF RELIANCE NEW YORK FEDERAL CREDIT UNION

                           BALANCE SHEETS - DECEMBER 31, 2007 and 2006

ASSETS

2007

  

2006

  

Cash and Cash Equivalents

 $21,966,589  

$21,296,502

  

Loans to Members

 396,690,794     373,848,737  

     Reserves for Possible Loan  Losses

 (3,472,320)  

 (3,315,331)

  

Investments(1)

 166,662,848  

159,068,642

  

Accrued Interest on Investments and Loans

 3,309,799   3,095,829  

Premises & Equipment, net

 4,420,371   4,709,417  

Other Assets

 3,656,205   3,539,426  

TOTAL ASSETS1

$593,234,286

    

$562,243,222

  

LIABILITIES AND SHAREHOLDER'S EQUITY

LIABILITIES

 2007  

2006

  

Dividends Payable for 4th quarter

 $4,337,938   $3,973,649  

Other Liabilities

 1,492,879   1,753,400  

TOTAL LIABILITIES

 $5,830,817             $5,727,049  

 

SHAREHOLDERS' EQUITY

2007

  

2006

  

Shares

 $462,427,092   $439,286,515  

Statutory Reserves

 10,000,000   10,000,000  

Unrealized market gains (losses)

 948,075   (1,252,763)  

Undivided Earnings

 114,028,302   108,482,421  

TOTAL

 $587,403,469   $556,516,173  

TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY

$593,234,286

   $562,243,222  

1.  Includes unrealized market losses on investments of $1,252,763  in 2006 and gains of $948,075 in 2007.

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   Your savings federally insured to at least $250,000 and backed by the full faith and credit
  of United States Government National Credit Union Administration, a U.S. Government Agency