Financial Statement | Superior Credit Union
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AssetsDecember 31, 2022December 31, 2021
Loans$924,222,016.92$828,785,113.82
Allowance Loans Loss($2,345,991.45)($2,163,111.73)
Cash Equivalents$16,738,002.04$13,530,512.29
Investments$520,678,100.28$555,846,185.79
Fixed Assets$21,952,463.30$18,587,870.97
Other Assets$30,237,677.73$73,108,364.47
Total Assets$1,511,482,268.82$1,487,694,935.61


Liabilities and EquityDecember 31, 2022December 31, 2021
Dividends Payable$636,971.71$364,862.35
Other Liabilities $22,113,580.11$20,577,244.38
Borrowings$50,000,000.00$95,152,125.00
Deferred Income$1,560,969.88$163,259.12
Member Deposits$1,265,501,673.41$1,183,633,951.16
Regular Reserve$4,259,331.87$4,259,331.87
Retained Earnings$183,577,688.97$169,624,524.19
Equity Acquired in Merger$14,434,272.09$14,434,272.09
Unrealized Gain (Loss) Securities($30,602,219.22)($514,634.55)
Total Liabilities and Equity$1,511,482,268.82$1,487,694,935.61


Income StatementDecember 31, 2022YEAR TO DATE
Interest Income$2,999,303.16$28,346,239.37
Investment Income$1,234,958.01$6,865,915.37
Alternative Investment Income($910,446.75)($2,626,062.94)
Other Income$1,645,742.02$21,890,675.67
Total Income$4,969,556.44$58,711,028.64
Dividend Expense$1,056,837.71$6,871,007.42
Interest On Borrowed Funds$85,737.22$246,283.37
Provision Loan Loss$63,836.29$376,529.14
Operating Expense$2,855,531.73$37,264,043.93
Total Expenses$4,061,942.95$44,757,863.86
Net Income$907,613.49
$13,953,164.78

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