Statements of Income

STATEMENTS OF INCOME AND EXPENSE FOR YEARS ENDED
DECEMBER 31, 2009 and 2008
INCOME	2009	2008
Interest on Loans	$27,573,368	$24,326,362
Interest on Investments¹	5,152,400	7,325,038
Other income	439,290	609,522
TOTAL INCOME	$33,165,058	$32,260,922
EXPENSES	2009	2008
Employee Compensation	$2,515,064	$2,625,653
Employee Benefits¹	1,286,937	1,346,071
Travel and Conference	33,825	92,342
Association Dues	54,083	50,681
Office Occupancy	616,858	587,638
Office Operations	1,206,751	865,638
Education & Community and Promotional	1,111,324	1,084,412
Professional Services	163,281	121,425
Loan Servicing Expense	204,022	149,658
Provision for Loan Losses	958,514	365,055
Members Insurance	188,144	146,996
Federal Supervision & Exam.	151,352	132,273
Annual & Other Meetings	30,310	35,074
Other Expense	156,196	94,947
TOTAL EXPENSES	8,676,661	7,697,863
Net Income Before Dividends	$24,488,397	$24,563,059
Dividends Paid	16,635,673	17,487,121
Net Income before Extraordinary Items	7,852,724	7,075,938
NCUA Assessment	(738,688)	-
Corporate Credit Union Membership Write Down	(1,053,294)	-
NET INCOME	$6,060,742	$7,075,938