Financial Statement | Superior Credit Union
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AssetsMay 31, 2024 May 31, 2023
Loans$1,017,618,758.99$953,770,348.74
Allowance Loans Loss($3,399,882.28)($3,177,882.88)
Cash Equivalents$617,783,660.89$12,245,348.85
Investments$592,876,302.70$503,929,532.55
Fixed Assets$24,470,700.53$22,740,544.35
Other Assets$48,691,402.94$35,374,440.96
Total Assets$1,721,913,469.77$1,524,882,332.57


Liabilities and Equity May 31, 2024 May 31, 2023
Dividends Payable$1,487,875.94$952,579.20
Other Liabilities $21,022,429.97$21,721,261.56
Borrowings$100,000,000.00$20,000,000.00
Deferred Income$1,401,588.00$1,843,088.73
Member Deposits$1,391,343,550.73$1,292,727,417.94
Regular Reserve$4,259,331.87$4,259,331.87
Retained Earnings$210,489,548.37$190,875,056.26
Equity Acquired in Merger$19,617,897.34$19,617,897.34
Unrealized Gain (Loss) Securities($27,708,751.95)($27,114,300.33))
Total Liabilities and Equity$1,721,913,470.27$1,524,882,332.57


Income StatementMay 31, 2024YEAR TO DATE
Interest Income$4,394,291.57$20,740,797.15
Investment Income$2,085,431.53$10,135,882.21
Alternative Investment Income$643,728.24$556,721.98
Other Income$1,752,822.57$8,309,766.04
Total Income$8,876,273.91$39,743,167.38
Dividend Expense$2,679,719.78$12,641,003.39
Interest On Borrowed Funds$377,252.41$1,907,770.69
Provision Loan Loss$12,348.00$238,429.32
Operating Expense$3,615,218.10$16,995,245.33
Total Expenses$6,684,538.29$31,782,448.73
Net Income$2,191,735.62
$7,960,718.65

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