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National Credit Union Service Organization

LIBERTY FIRST 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 LIBERTY FIRST CREDIT UNION as of: December 31, 2023.
Charter Number: 63757

ASSETS$ Amount
CASH:  
 1. Cash on Hand 5,705,250
 2. Cash on Deposit (Amounts Deposited in Financial Institutions) 64,565,005
 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 0
 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 5
 11. Perpetual Contributed Capital 0
 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 1,313,665
LOANS AND LEASES:  
 16. TOTAL LOANS & LEASES 358,842,661
 17. Less: Allowance for Loan & Lease Losses 0
 18: Less: Allowance for Credit Losses on Loans & Leases 7,191,452
OTHER ASSETS:  
 19. Foreclosed and Repossessed Assets 1,691,787
 20. Land and Building 9,057,404
 21. Other Fixed Assets 1,345,953
 22. NCUA Share Insurance Capitalization Deposit 3,768,290
 23. Intangible Assets 0
 24. Other Assets 0
25. TOTAL ASSETS 452,330,836
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 11,749,171
 10. Allowance for Credit Losses on Off-Balance Sheet Credit Exposures 0
SHARES/DEPOSITS:  
 11. Share Drafts 126,044,417
 12. Regular Shares 115,673,673
 13. Money Market Shares 1,097,799
 14. Share Certificates 42,943,262
 15. IRA/KEOGH Accounts 14,231,730
 16. All Other Shares 331,288
 17. TOTAL SHARES 300,322,168
 18. Nonmember Deposits 81,160,000
 19. TOTAL SHARES AND DEPOSITS 381,482,168
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) 100,504,435
 29. Dollar Amount of IRA/Keogh Accounts equal to or greater than $100,000 5,745,277
 30. Dollar Amount of Share Drafts Swept to Regular Shares or Money Market Accts as part of Sweep Program 0
 31. Dollar Amount of Commercial Share Accounts 9,077,451
 32. Negative Shares Included in All Other Unsecured Loans/Lines of Credit 140,919
EQUITY:  
 33. Undivided Earnings 58,514,497
 34. Regular Reserves 0
 35. Appropriation for Non-Conforming Investments (State Credit Unions ONLY) 0
 36. Other Reserves.(Appropriations of Undivided Earnings) 585,000
 37. Equity Acquired in Merger 0
 38. Miscellaneous Equity 0
 39. Other Comprehensive Income (not already included in items 40 - 43) 0
 40. Accumulated Unrealized Net Gains (Losses) on Cash Flow Hedges 0
 41. Accumulated Unrealized Gains (Losses) on Available for Sale Debt Securities 0
 42. Accumulated Unrealized Losses for OTTI (Due to Other Factors) on HTM Debt Securities 0
 43. Net Income (unless this amount is already included in Undivided Earnings) 0
44. TOTAL LIABILITIES, SHARES, AND EQUITY 452,330,836
Statement of Income & Expense$ Amount
INTEREST INCOME YEAR-TO-DATE FOR THE CYCLE  
 1. Interest on Loans (Gross-before interest refunds) 20,299,875
 2. (Less) Interest Refunded 0
 3. Income from Investments (Including Interest and Dividends, excluding securities held in a trading account) 3,081,853
 4. Unrealized Gain (Loss) due to change in fair value of Equity and Trading Debt Securities 0
 5. TOTAL INTEREST INCOME 23,381,728
INTEREST EXPENSE YEAR-TO-DATE FOR THE CYCLE  
 6. Dividends on Shares (Includes dividends earned during current period) 6,382,484
 7. Interest on Deposits (Total interest expense for deposit accounts) (State Credit Union ONLY) 0
 8. Interest on Borrowed Money 13
 9. TOTAL INTEREST EXPENSE 6,382,497
 10. Provision for Loan & Lease Losses 0
 11. Total Credit Loss Expense 2,125,000
 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 3,849,715
 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 -209
 19. Gain from Bargain Purchase (Merger) 0
 20. Other Non-operating Income (Expense) 0
 21. TOTAL NON-INTEREST INCOME 9,549,923
NON-INTEREST EXPENSE YEAR-TO-DATE FOR THE CYCLE  
 22. Total Employee Compensation and Benefits 9,844,548
 23. Travel and Conference Expense 217,548
 24. Office Occupancy Expense 976,640
 25. Office Operations Expense 1,930,120
 26. Educational and Promotional Expenses 968,299
 27. Loan Servicing Expense 1,283,745
 28. Professional and Outside Services 2,557,200
 29. Total Member Insurance 0
 30. Operating Fees (Examination and/or supervision fees) 42,000
 31. Miscellaneous Operating Expenses 468,462
 32. TOTAL NON-INTEREST EXPENSE 18,288,562
33. NET INCOME (LOSS) 6,135,592
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 Loans9.996,107$9,610,173
 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 loans12.503,167$14,904,169
 5. New Vehicle Loans5.99827$23,033,037
 6. Used Vehicle Loans3.507,545$110,430,600
 7. Leases Receivable0.000$0
 8. All Other Secured Non-Real Estate Loans/Lines of Credit5.95840$20,354,434
 9. Loans/Lines of Credit Secured by a First Lien on a single 1- to 4- Family Residential Property3.00927$126,470,267
 10. Loans/Lines of Credit Secured by a Junior Lien on a single 1- to 4- Family Residential Property7.51,115$40,588,704
 11. All Other Real Estate Loans/Lines of Credit0.000$0
Commercial Loans / Lines of Credit
 12. Commercial Loans/Lines of Credit Real Estate Secured4.0032$13,451,277
 13. Commercial Loans/Lines of Credit Not Real Estate Secured0.000$0
 14. TOTAL LOANS & LEASES20,560$358,842,661
YEAR-TO-DATE LOAN INFORMATIONNumberAmount
 15. Loans Granted Year-to-Date6,274$169,884,771
  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 Staff25$943,188
GOVERNMENT GUARANTEED LOANSNumberOutstanding BalanceGuaranteed Portion
 18. Non-Commercial Loans  
  a. 1. Small Business Administration1$12,176$10,350
  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