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National Credit Union Service Organization

EMBARK FEDERAL CREDIT UNION
— Statement of Financial Condition

Then NCUA provides quarterly Call Reports using accounting and statistical information from each credit union. The Call Report includes Balance Sheet, Income Statement and more.

Statement of financial condition for EMBARK FEDERAL CREDIT UNION as of: December 31, 2023.
Charter Number: 1104

ASSETS$ Amount
CASH:  
 1. Cash on Hand 1,174,461
 2. Cash on Deposit (Amounts Deposited in Financial Institutions) 24,150,379
 3. Cash Equivalents (Investments with Original Maturities of Three Months or Less) 0
INVESTMENTS:  
 4. Equity Securities 0
 5. Trading Debut Securities 0
 6. Available-for-Sale Debt Securities 25,792,891
 7. Held-to-Maturity Debt Securities 3,233,237
 8. Deposits in commercial banks, S&Ls, savings banks 0
 9. Loans to and investments in natural person credit unions 0
 10. Nonperpetual Capital Account 0
 11. Perpetual Contributed Capital 392,427
 12. All other investments in corporate credit unions 0
 13. All other investments 0
 14. TOTAL INVESTMENTS 0
LOANS HELD FOR SALE:  
 15. Loans Held for Sale 0
LOANS AND LEASES:  
 16. TOTAL LOANS & LEASES 66,210,948
 17. Less: Allowance for Loan & Lease Losses 396,472
 18: Less: Allowance for Credit Losses on Loans & Leases 0
OTHER ASSETS:  
 19. Foreclosed and Repossessed Assets 0
 20. Land and Building 1,770,221
 21. Other Fixed Assets 200,750
 22. NCUA Share Insurance Capitalization Deposit 1,115,680
 23. Intangible Assets 0
 24. Other Assets 0
25. TOTAL ASSETS 137,179,213
LIABILITIES$ Amount
 1. Draws Against Lines of Credit 0
 2. Other Notes, Promissory Notes and Interest Payable 0
 3. Borrowing Repurchase Transactions 0
 4. Subordinated Debt 0
 5. Subordinated Debt included in Net Worth 0
 6. TOTALS 0
 7. Non-Trading Derivative Liabilities 0
 8. Accrued Dividends & Interest Payable on Shares & Deposits 0
 9. Accounts Payable and Other Liabilities 1,279,941
 10. Allowance for Credit Losses on Off-Balance Sheet Credit Exposures 0
SHARES/DEPOSITS:  
 11. Share Drafts 26,555,574
 12. Regular Shares 61,658,450
 13. Money Market Shares 22,953,339
 14. Share Certificates 6,509,779
 15. IRA/KEOGH Accounts 4,016,265
 16. All Other Shares 996,431
 17. TOTAL SHARES 122,689,838
 18. Nonmember Deposits 0
 19. TOTAL SHARES AND DEPOSITS 122,689,838
20. TOTAL LIABILITIES  
 21. Accounts Held by Member Public Units 0
 22. Accounts Held by Nonmember Public Units 0
 23. Employee Benefit Member Shares 0
 24. Employee Benefit Nonmember Shares 0
 25. 529 Plan Member Deposits 0
 26. Non-dollar denominated deposits 0
 27. Health Savings Account 0
 28. Dollar Amount of Share Certificates equal to or greater than $100,000 (Excluding brokered share certificates participated out by the broker in shares of less than $100,000) 570,414
 29. Dollar Amount of IRA/Keogh Accounts equal to or greater than $100,000 1,078,139
 30. Dollar Amount of Share Drafts Swept to Regular Shares or Money Market Accts as part of Sweep Program 0
 31. Dollar Amount of Commercial Share Accounts 4,988,695
 32. Negative Shares Included in All Other Unsecured Loans/Lines of Credit 16,304
EQUITY:  
 33. Undivided Earnings 11,016,291
 34. Regular Reserves 0
 35. Appropriation for Non-Conforming Investments (State Credit Unions ONLY) 0
 36. Other Reserves.(Appropriations of Undivided Earnings) 3,809,300
 37. Equity Acquired in Merger 0
 38. Miscellaneous Equity 0
 39. Other Comprehensive Income (not already included in items 40 - 43) 0
 40. Accumulated Unrealized Net Gains (Losses) on Cash Flow Hedges 0
 41. Accumulated Unrealized Gains (Losses) on Available for Sale Debt Securities -1,616,157
 42. Accumulated Unrealized Losses for OTTI (Due to Other Factors) on HTM Debt Securities 0
 43. Net Income (unless this amount is already included in Undivided Earnings) 0
44. TOTAL LIABILITIES, SHARES, AND EQUITY 137,179,213
Statement of Income & Expense$ Amount
INTEREST INCOME YEAR-TO-DATE FOR THE CYCLE  
 1. Interest on Loans (Gross-before interest refunds) 702,093
 2. (Less) Interest Refunded 0
 3. Income from Investments (Including Interest and Dividends, excluding securities held in a trading account) 134,703
 4. Unrealized Gain (Loss) due to change in fair value of Equity and Trading Debt Securities 0
 5. TOTAL INTEREST INCOME 836,796
INTEREST EXPENSE YEAR-TO-DATE FOR THE CYCLE  
 6. Dividends on Shares (Includes dividends earned during current period) 30,256
 7. Interest on Deposits (Total interest expense for deposit accounts) (State Credit Union ONLY) 0
 8. Interest on Borrowed Money 132
 9. TOTAL INTEREST EXPENSE 30,388
 10. Provision for Loan & Lease Losses 95,487
 11. Total Credit Loss Expense 0
 12. NET INTEREST INCOME AFTER PROVISION FOR LOAN AND LEASE LOSSES or CREDIT LOSS EXPENSE 0
NON-INTEREST INCOME YEAR-TO-DATE FOR THE CYCLE  
 13. Fee Income 242,998
 14. Other Operating Income (Includes unconsolidated CUSO Income and Gain (Loss) associated with the Hedged Item (NonInvestment Assets) in a Non-Trading, Fair Value (FV) Derivatives Hedge) 0
 15. Gain (Loss) on Equity Securities (DO NOT include Gain (Loss) on other securities) 0
 16. Gain (Loss) on Other Securities (DO NOT include Gain or Loss on Equity Securities) 0
 17. Gain (Loss) on Non-Trading Derivatives 0
 18. Gain (Loss) on Disposition of Fixed Assets 0
 19. Gain from Bargain Purchase (Merger) 0
 20. Other Non-operating Income (Expense) 0
 21. TOTAL NON-INTEREST INCOME 397,137
NON-INTEREST EXPENSE YEAR-TO-DATE FOR THE CYCLE  
 22. Total Employee Compensation and Benefits 596,110
 23. Travel and Conference Expense 6,091
 24. Office Occupancy Expense 107,557
 25. Office Operations Expense 150,069
 26. Educational and Promotional Expenses 48,777
 27. Loan Servicing Expense 80,754
 28. Professional and Outside Services 201,603
 29. Total Member Insurance 0
 30. Operating Fees (Examination and/or supervision fees) 0
 31. Miscellaneous Operating Expenses 30,156
 32. TOTAL NON-INTEREST EXPENSE 1,221,117
33. NET INCOME (LOSS) -113,059
RESERVE TRANSFERS YEAR-TO-DATE FOR THE CYCLE  
 34. Transfer to Regular Reserves 0
Interest Rate# LoansAmount
Non-Commercial Loans/Lines of Credit
 1. Unsecured Credit Card Loans11.901,571$1,523,531
 2. Payday Alternative Loans (PALs I and PALs II)0.000$0
 3. Non-Federally Guaranteed Student Loans0.000$0
 4. All Other Unsecured Loans/Lines of Credit - include SBA PPP loans6.001,736$2,724,629
 5. New Vehicle Loans1.50262$6,757,795
 6. Used Vehicle Loans3.991,509$24,822,812
 7. Leases Receivable0.000$0
 8. All Other Secured Non-Real Estate Loans/Lines of Credit7.49729$10,788,898
 9. Loans/Lines of Credit Secured by a First Lien on a single 1- to 4- Family Residential Property5.00175$15,249,279
 10. Loans/Lines of Credit Secured by a Junior Lien on a single 1- to 4- Family Residential Property5173$4,184,551
 11. All Other Real Estate Loans/Lines of Credit0.000$0
Commercial Loans / Lines of Credit
 12. Commercial Loans/Lines of Credit Real Estate Secured0.000$0
 13. Commercial Loans/Lines of Credit Not Real Estate Secured3.235$159,453
 14. TOTAL LOANS & LEASES6,160$66,210,948
YEAR-TO-DATE LOAN INFORMATIONNumberAmount
 15. Loans Granted Year-to-Date321$10,274,140
  a. Payday Alternative Loans (PALs I and PALs II) Granted Year-to-Date0$0
MISCELLANEOUS LOAN INFORMATIONNumberAmount
 16. Non-Federally Guaranteed Student Loans in Deferred Status0$0
 17. Loans Outstanding to Credit Union Officials and Senior Executive Staff13$245,779
GOVERNMENT GUARANTEED LOANSNumberOutstanding BalanceGuaranteed Portion
 18. Non-Commercial Loans  
  a. 1. Small Business Administration1$765$0
  a. 2. Paycheck Protection Program Loans (Included in 18.a.1.)1$765-
  b. Other Government Guaranteed0$0$0
 19. Commercial Loans  
  a. Small Business Administration0$0$0
  b. Other Government Guaranteed0$0$0