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National Credit Union Service Organization

SUMMIT 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 SUMMIT CREDIT UNION as of: December 31, 2023.
Charter Number: 63020

ASSETS$ Amount
CASH:  
 1. Cash on Hand 2,339,615
 2. Cash on Deposit (Amounts Deposited in Financial Institutions) 10,893,660
 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 80,250,402
 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 964,642
 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 214,881,704
 17. Less: Allowance for Loan & Lease Losses 0
 18: Less: Allowance for Credit Losses on Loans & Leases 2,623,941
OTHER ASSETS:  
 19. Foreclosed and Repossessed Assets 0
 20. Land and Building 6,456,456
 21. Other Fixed Assets 1,576,845
 22. NCUA Share Insurance Capitalization Deposit 2,825,882
 23. Intangible Assets 0
 24. Other Assets 0
25. TOTAL ASSETS 338,211,628
LIABILITIES$ Amount
 1. Draws Against Lines of Credit 10,000,000
 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 10,000,000
 7. Non-Trading Derivative Liabilities 0
 8. Accrued Dividends & Interest Payable on Shares & Deposits 1,327
 9. Accounts Payable and Other Liabilities 3,593,450
 10. Allowance for Credit Losses on Off-Balance Sheet Credit Exposures 0
SHARES/DEPOSITS:  
 11. Share Drafts 15,780,780
 12. Regular Shares 200,756,800
 13. Money Market Shares 9,542,731
 14. Share Certificates 38,426,447
 15. IRA/KEOGH Accounts 11,519,839
 16. All Other Shares 0
 17. TOTAL SHARES 276,026,597
 18. Nonmember Deposits 4,826,060
 19. TOTAL SHARES AND DEPOSITS 280,852,657
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) 12,381,811
 29. Dollar Amount of IRA/Keogh Accounts equal to or greater than $100,000 4,494,810
 30. Dollar Amount of Share Drafts Swept to Regular Shares or Money Market Accts as part of Sweep Program 88,111,968
 31. Dollar Amount of Commercial Share Accounts 0
 32. Negative Shares Included in All Other Unsecured Loans/Lines of Credit 103,140
EQUITY:  
 33. Undivided Earnings 31,997,999
 34. Regular Reserves 0
 35. Appropriation for Non-Conforming Investments (State Credit Unions ONLY) 0
 36. Other Reserves.(Appropriations of Undivided Earnings) 4,526,334
 37. Equity Acquired in Merger 12,967,919
 38. Miscellaneous Equity 0
 39. Other Comprehensive Income (not already included in items 40 - 43) -1,793,993
 40. Accumulated Unrealized Net Gains (Losses) on Cash Flow Hedges 0
 41. Accumulated Unrealized Gains (Losses) on Available for Sale Debt Securities -3,934,065
 42. Accumulated Unrealized Losses for OTTI (Due to Other Factors) on HTM Debt Securities 0
 43. Net Income (unless this amount is already included in Undivided Earnings) 0
44. TOTAL LIABILITIES, SHARES, AND EQUITY 338,211,628
Statement of Income & Expense$ Amount
INTEREST INCOME YEAR-TO-DATE FOR THE CYCLE  
 1. Interest on Loans (Gross-before interest refunds) 13,603,582
 2. (Less) Interest Refunded 0
 3. Income from Investments (Including Interest and Dividends, excluding securities held in a trading account) 1,845,482
 4. Unrealized Gain (Loss) due to change in fair value of Equity and Trading Debt Securities 0
 5. TOTAL INTEREST INCOME 15,449,064
INTEREST EXPENSE YEAR-TO-DATE FOR THE CYCLE  
 6. Dividends on Shares (Includes dividends earned during current period) 66,947
 7. Interest on Deposits (Total interest expense for deposit accounts) (State Credit Union ONLY) 1,625,366
 8. Interest on Borrowed Money 63,738
 9. TOTAL INTEREST EXPENSE 1,756,051
 10. Provision for Loan & Lease Losses 0
 11. Total Credit Loss Expense 2,081,768
 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 4,085,214
 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 6,410,529
NON-INTEREST EXPENSE YEAR-TO-DATE FOR THE CYCLE  
 22. Total Employee Compensation and Benefits 8,164,367
 23. Travel and Conference Expense 126,269
 24. Office Occupancy Expense 721,070
 25. Office Operations Expense 1,027,408
 26. Educational and Promotional Expenses 492,286
 27. Loan Servicing Expense 649,282
 28. Professional and Outside Services 3,740,978
 29. Total Member Insurance 0
 30. Operating Fees (Examination and/or supervision fees) 84,037
 31. Miscellaneous Operating Expenses 316,338
 32. TOTAL NON-INTEREST EXPENSE 15,322,035
33. NET INCOME (LOSS) 2,699,739
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 Loans10.005,718$11,422,645
 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 loans14.507,003$12,888,399
 5. New Vehicle Loans7.55371$9,003,880
 6. Used Vehicle Loans7.554,717$70,446,173
 7. Leases Receivable0.000$0
 8. All Other Secured Non-Real Estate Loans/Lines of Credit8.001,389$6,578,435
 9. Loans/Lines of Credit Secured by a First Lien on a single 1- to 4- Family Residential Property7.75935$57,704,521
 10. Loans/Lines of Credit Secured by a Junior Lien on a single 1- to 4- Family Residential Property7.75806$23,287,406
 11. All Other Real Estate Loans/Lines of Credit0.000$0
Commercial Loans / Lines of Credit
 12. Commercial Loans/Lines of Credit Real Estate Secured6.5039$23,550,245
 13. Commercial Loans/Lines of Credit Not Real Estate Secured0.000$0
 14. TOTAL LOANS & LEASES20,978$214,881,704
YEAR-TO-DATE LOAN INFORMATIONNumberAmount
 15. Loans Granted Year-to-Date4,683$74,017,445
  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 Staff11$402,315
GOVERNMENT GUARANTEED LOANSNumberOutstanding BalanceGuaranteed Portion
 18. Non-Commercial Loans  
  a. 1. Small Business Administration0$0$0
  a. 2. Paycheck Protection Program Loans (Included in 18.a.1.)0$0-
  b. Other Government Guaranteed0$0$0
 19. Commercial Loans  
  a. Small Business Administration0$0$0
  b. Other Government Guaranteed0$0$0