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National Credit Union Service Organization

ESSENTIAL 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 ESSENTIAL FEDERAL CREDIT UNION as of: June 30, 2021.
Charter Number: 20972

ASSETS$ Amount
CASH:  
 1. Cash on Hand 4,848,977
 2. Cash on Deposit (Amounts Deposited in Financial Institutions) 39,963,132
 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 14,130,341
 7. Held-to-Maturity Debt Securities 0
 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 34,148
 12. All other investments in corporate credit unions 0
 13. All other investments 194,200
 14. TOTAL INVESTMENTS 14,358,689
LOANS HELD FOR SALE:  
 15. Loans Held for Sale 0
LOANS AND LEASES:  
 16. TOTAL LOANS & LEASES 260,856,936
 17. Less: Allowance for Loan & Lease Losses 1,377,711
 18: Less: Allowance for Credit Losses on Loans & Leases 0
OTHER ASSETS:  
 19. Foreclosed and Repossessed Assets 196,716
 20. Land and Building 22,968,069
 21. Other Fixed Assets 809,178
 22. NCUA Share Insurance Capitalization Deposit 2,884,543
 23. Intangible Assets 0
 24. Other Assets 14,204,508
25. TOTAL ASSETS 359,713,037
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 781,572
 10. Allowance for Credit Losses on Off-Balance Sheet Credit Exposures 0
SHARES/DEPOSITS:  
 11. Share Drafts 77,217,926
 12. Regular Shares 138,586,996
 13. Money Market Shares 26,383,484
 14. Share Certificates 58,232,706
 15. IRA/KEOGH Accounts 13,179,934
 16. All Other Shares 0
 17. TOTAL SHARES 313,601,046
 18. Nonmember Deposits 15,374,083
 19. TOTAL SHARES AND DEPOSITS 328,975,129
20. TOTAL LIABILITIES  
 21. Accounts Held by Member Public Units 2,716,768
 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) 48,873,288
 29. Dollar Amount of IRA/Keogh Accounts equal to or greater than $100,000 6,497,182
 30. Dollar Amount of Share Drafts Swept to Regular Shares or Money Market Accts as part of Sweep Program 0
 31. Dollar Amount of Commercial Share Accounts 12,509,704
 32. Negative Shares Included in All Other Unsecured Loans/Lines of Credit 74,714
EQUITY:  
 33. Undivided Earnings 20,744,982
 34. Regular Reserves 7,390,893
 35. Appropriation for Non-Conforming Investments (State Credit Unions ONLY) 0
 36. Other Reserves.(Appropriations of Undivided Earnings) 0
 37. Equity Acquired in Merger 52,783
 38. Miscellaneous Equity 0
 39. Other Comprehensive Income (not already included in items 40 - 43) 0
 40. Accumulated Unrealized Net Gains (Losses) on Cash Flow Hedges 0
 41. Accumulated Unrealized Gains (Losses) on Available for Sale Debt Securities 152,388
 42. Accumulated Unrealized Losses for OTTI (Due to Other Factors) on HTM Debt Securities 0
 43. Net Income (unless this amount is already included in Undivided Earnings) 1,615,290
44. TOTAL LIABILITIES, SHARES, AND EQUITY 359,713,037
Statement of Income & Expense$ Amount
INTEREST INCOME YEAR-TO-DATE FOR THE CYCLE  
 1. Interest on Loans (Gross-before interest refunds) 5,818,310
 2. (Less) Interest Refunded 0
 3. Income from Investments (Including Interest and Dividends, excluding securities held in a trading account) 186,959
 4. Unrealized Gain (Loss) due to change in fair value of Equity and Trading Debt Securities 0
 5. TOTAL INTEREST INCOME 6,005,269
INTEREST EXPENSE YEAR-TO-DATE FOR THE CYCLE  
 6. Dividends on Shares (Includes dividends earned during current period) 1,158,589
 7. Interest on Deposits (Total interest expense for deposit accounts) (State Credit Union ONLY) 0
 8. Interest on Borrowed Money 0
 9. TOTAL INTEREST EXPENSE 1,158,589
 10. Provision for Loan & Lease Losses 0
 11. Total Credit Loss Expense 0
 12. NET INTEREST INCOME AFTER PROVISION FOR LOAN AND LEASE LOSSES or CREDIT LOSS EXPENSE 4,846,680
NON-INTEREST INCOME YEAR-TO-DATE FOR THE CYCLE  
 13. Fee Income 2,020,943
 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 1,821
 19. Gain from Bargain Purchase (Merger) 0
 20. Other Non-operating Income (Expense) 280,433
 21. TOTAL NON-INTEREST INCOME 5,075,805
NON-INTEREST EXPENSE YEAR-TO-DATE FOR THE CYCLE  
 22. Total Employee Compensation and Benefits 3,276,725
 23. Travel and Conference Expense 7,557
 24. Office Occupancy Expense 707,338
 25. Office Operations Expense 2,567,275
 26. Educational and Promotional Expenses 144,053
 27. Loan Servicing Expense 609,686
 28. Professional and Outside Services 858,681
 29. Total Member Insurance 0
 30. Operating Fees (Examination and/or supervision fees) 23,223
 31. Miscellaneous Operating Expenses 112,657
 32. TOTAL NON-INTEREST EXPENSE 8,307,195
33. NET INCOME (LOSS) 1,615,290
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 Loans0.000$0
 2. Payday Alternative Loans (PALs I and PALs II)28.18604$313,452
 3. Non-Federally Guaranteed Student Loans0.000$0
 4. All Other Unsecured Loans/Lines of Credit - include SBA PPP loans11.903,304$16,318,781
 5. New Vehicle Loans3.902,837$76,100,294
 6. Used Vehicle Loans4.963,271$63,878,705
 7. Leases Receivable0.000$0
 8. All Other Secured Non-Real Estate Loans/Lines of Credit6.973,022$32,640,332
 9. Loans/Lines of Credit Secured by a First Lien on a single 1- to 4- Family Residential Property3.72457$59,449,555
 10. Loans/Lines of Credit Secured by a Junior Lien on a single 1- to 4- Family Residential Property5.78152$4,755,707
 11. All Other Real Estate Loans/Lines of Credit0.000$0
Commercial Loans / Lines of Credit
 12. Commercial Loans/Lines of Credit Real Estate Secured5.8729$6,998,215
 13. Commercial Loans/Lines of Credit Not Real Estate Secured5.229$401,895
 14. TOTAL LOANS & LEASES13,685$260,856,936
YEAR-TO-DATE LOAN INFORMATIONNumberAmount
 15. Loans Granted Year-to-Date2,597$62,317,192
  a. Payday Alternative Loans (PALs I and PALs II) Granted Year-to-Date520$446,030
MISCELLANEOUS LOAN INFORMATIONNumberAmount
 16. Non-Federally Guaranteed Student Loans in Deferred Status0$0
 17. Loans Outstanding to Credit Union Officials and Senior Executive Staff15$1,347,270
GOVERNMENT GUARANTEED LOANSNumberOutstanding BalanceGuaranteed Portion
 18. Non-Commercial Loans  
  a. 1. Small Business Administration277$7,203,101$6,729,507
  a. 2. Paycheck Protection Program Loans (Included in 18.a.1.)250$6,244,160-
  b. Other Government Guaranteed0$0$0
 19. Commercial Loans  
  a. Small Business Administration8$989,986$510,156
  b. Other Government Guaranteed0$0$0