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Michigan Credit Union League Home » Information Services » Publications » Contact » 2007 » 2nd Quarter » MCUL/CUcorp Consolidated Statements of Financial Position  

MCUL/CUcorp Consolidated
Statements of Financial Position

The Consolidated Statement of Financial Position continues to reflect stability.  For the last five years, total assets have ranged from the 2003 high of $55,816,000 to the 2002 low of $51,800,000, with 2006 total assets at $55,768,000.  The most significant changes in the Statements of Financial Position are due to the investment of the NYCE proceeds received in 2001 into high-grade fixed-income bonds and equities in 2002. This resulted in an increase in Members’ Net Assets over the past five years allowing MCUL to allocate more resources to serve its members through cooperative advertising, technology-based initiatives and educational programs.

Members’ Net Assets reached a benchmark of $40,700,000 in 2001 due to the gain on sale of the NYCE stock.

The MCUL seeks to maintain Members’ Net Assets at this benchmark level. CUcorp’s capital growth objectives are on target to build its capital for future years.  CUcorp’s strong financial performance, along with its future income objectives, will enable the corporation to continue to generate the capital necessary for new product development and future market expansion.

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