Financial Statement | Superior Credit Union
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AssetsFebruary 29, 2024 February 28, 2023
Loans$1,007,875,029.08$939,447,394.64
Allowance Loans Loss($3,411,107.00)($3,043,113.26)
Cash Equivalents$15,440,184.99$15,631,193.11
Investments$566,128,612.48$496,884,976.29
Fixed Assets$24,059,649.48$22,310,685.85
Other Assets$35,281,342.19$29,989,410.26
Total Assets$1,645,373,711.22$1,501,220,546.89


Liabilities and Equity February 29, 2024 February 28, 2023
Dividends Payable$1,358,142.07$680,905.01
Other Liabilities $16,895,716.67$17,582,710.77
Borrowings$100,000,000.00$20,000,000.00
Deferred Income$1,423,100.32$1,937,756.05
Member Deposits$1,325,801,486.93$1,282,040,800.16
Regular Reserve$4,259,331.87$4,259,331.87
Retained Earnings$205,133,928.05$185,951,334.51
Equity Acquired in Merger$19,617,897.34$19,219,945.34
Unrealized Gain (Loss) Securities($29,115,892.03)($30,452,236.82)
Total Liabilities and Equity$1,645,373,711.22$1,501,220,546.89


Income StatementFebruary 29, 2024YEAR TO DATE
Interest Income$3,959,346.29$8,029,959.11
Investment Income$1,882,890.08$3,885,649.67
Alternative Investment Income($286,192.91)$193,287.40
Other Income$1,536,680.14$2,977,717.52
Total Income$7,665,109.42$15,086,613.70
Dividend Expense$2,373,898.36$4,852,318.44
Interest On Borrowed Funds$357,170.29$730,646.42
Provision Loan Loss($714.90)$78,302.10
Operating Expense$3,526,186.28$6,820,248.41
Total Expenses$6,256,540.03$12,481,515.37
Net Income$1,408,569.39
$2,605,098.33

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