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National Credit Union Service Organization

INNOVATIONS 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 INNOVATIONS FEDERAL CREDIT UNION as of: March 31, 2022.
Charter Number: 7783

ASSETS$ Amount
CASH:  
 1. Cash on Hand 3,383,362
 2. Cash on Deposit (Amounts Deposited in Financial Institutions) 35,789,264
 3. Cash Equivalents (Investments with Original Maturities of Three Months or Less) 0
INVESTMENTS:  
 4. Equity Securities 0
 5. Trading Debut Securities 548,739
 6. Available-for-Sale Debt Securities 1,121,027
 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 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 0
LOANS AND LEASES:  
 16. TOTAL LOANS & LEASES 257,566,474
 17. Less: Allowance for Loan & Lease Losses 807,037
 18: Less: Allowance for Credit Losses on Loans & Leases 0
OTHER ASSETS:  
 19. Foreclosed and Repossessed Assets 135,264
 20. Land and Building 11,406,146
 21. Other Fixed Assets 1,436,265
 22. NCUA Share Insurance Capitalization Deposit 2,759,974
 23. Intangible Assets 0
 24. Other Assets 0
25. TOTAL ASSETS 359,169,309
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 7,112,710
 10. Allowance for Credit Losses on Off-Balance Sheet Credit Exposures 0
SHARES/DEPOSITS:  
 11. Share Drafts 102,608,460
 12. Regular Shares 157,516,885
 13. Money Market Shares 34,257,797
 14. Share Certificates 19,251,496
 15. IRA/KEOGH Accounts 8,680,761
 16. All Other Shares 0
 17. TOTAL SHARES 322,315,399
 18. Nonmember Deposits 0
 19. TOTAL SHARES AND DEPOSITS 322,315,399
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) 7,105,695
 29. Dollar Amount of IRA/Keogh Accounts equal to or greater than $100,000 2,781,010
 30. Dollar Amount of Share Drafts Swept to Regular Shares or Money Market Accts as part of Sweep Program 0
 31. Dollar Amount of Commercial Share Accounts 41,217,042
 32. Negative Shares Included in All Other Unsecured Loans/Lines of Credit 116,030
EQUITY:  
 33. Undivided Earnings 26,774,720
 34. Regular Reserves 0
 35. Appropriation for Non-Conforming Investments (State Credit Unions ONLY) 0
 36. Other Reserves.(Appropriations of Undivided Earnings) 2,135,057
 37. Equity Acquired in Merger 0
 38. Miscellaneous Equity 0
 39. Other Comprehensive Income (not already included in items 40 - 43) 0
 40. Accumulated Unrealized Net Gains (Losses) on Cash Flow Hedges 0
 41. Accumulated Unrealized Gains (Losses) on Available for Sale Debt Securities -3,496
 42. Accumulated Unrealized Losses for OTTI (Due to Other Factors) on HTM Debt Securities 0
 43. Net Income (unless this amount is already included in Undivided Earnings) 834,919
44. TOTAL LIABILITIES, SHARES, AND EQUITY 359,169,309
Statement of Income & Expense$ Amount
INTEREST INCOME YEAR-TO-DATE FOR THE CYCLE  
 1. Interest on Loans (Gross-before interest refunds) 3,078,917
 2. (Less) Interest Refunded 0
 3. Income from Investments (Including Interest and Dividends, excluding securities held in a trading account) 67,658
 4. Unrealized Gain (Loss) due to change in fair value of Equity and Trading Debt Securities 0
 5. TOTAL INTEREST INCOME 3,146,575
INTEREST EXPENSE YEAR-TO-DATE FOR THE CYCLE  
 6. Dividends on Shares (Includes dividends earned during current period) 227,719
 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 227,719
 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 0
NON-INTEREST INCOME YEAR-TO-DATE FOR THE CYCLE  
 13. Fee Income 1,024,785
 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 -1,574
 19. Gain from Bargain Purchase (Merger) 0
 20. Other Non-operating Income (Expense) 0
 21. TOTAL NON-INTEREST INCOME 1,587,287
NON-INTEREST EXPENSE YEAR-TO-DATE FOR THE CYCLE  
 22. Total Employee Compensation and Benefits 2,014,776
 23. Travel and Conference Expense 43,443
 24. Office Occupancy Expense 203,204
 25. Office Operations Expense 683,737
 26. Educational and Promotional Expenses 108,781
 27. Loan Servicing Expense 237,290
 28. Professional and Outside Services 320,696
 29. Total Member Insurance 0
 30. Operating Fees (Examination and/or supervision fees) 13,500
 31. Miscellaneous Operating Expenses 45,797
 32. TOTAL NON-INTEREST EXPENSE 3,671,224
33. NET INCOME (LOSS) 834,919
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 Loans9.755,965$10,389,773
 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 loans12.751,190$5,148,628
 5. New Vehicle Loans4.50538$12,018,406
 6. Used Vehicle Loans6.004,216$60,696,218
 7. Leases Receivable0.000$0
 8. All Other Secured Non-Real Estate Loans/Lines of Credit4.75712$21,166,469
 9. Loans/Lines of Credit Secured by a First Lien on a single 1- to 4- Family Residential Property3.50676$95,202,998
 10. Loans/Lines of Credit Secured by a Junior Lien on a single 1- to 4- Family Residential Property4129$5,180,236
 11. All Other Real Estate Loans/Lines of Credit0.000$0
Commercial Loans / Lines of Credit
 12. Commercial Loans/Lines of Credit Real Estate Secured4.00128$46,269,773
 13. Commercial Loans/Lines of Credit Not Real Estate Secured4.0054$1,493,973
 14. TOTAL LOANS & LEASES13,608$257,566,474
YEAR-TO-DATE LOAN INFORMATIONNumberAmount
 15. Loans Granted Year-to-Date1,535$49,701,787
  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 Staff16$1,216,394
GOVERNMENT GUARANTEED LOANSNumberOutstanding BalanceGuaranteed Portion
 18. Non-Commercial Loans  
  a. 1. Small Business Administration29$2,155,532$2,155,532
  a. 2. Paycheck Protection Program Loans (Included in 18.a.1.)29$2,155,532-
  b. Other Government Guaranteed0$0$0
 19. Commercial Loans  
  a. Small Business Administration0$0$0
  b. Other Government Guaranteed0$0$0