November 1, 2022 to October 31, 2023
Consolidated Balance Sheet (audited)
| 31-Oct-23 | 31-Oct-22 | ||
| Assets | |||
| Cash | $ 9,161,338 | $ 4,509,469 | |
| Loans to members | 441,811,470 | 453,578,012 | |
| Investments | 244,423,469 | 210,756,262 | |
| Other | 12,619,227 | 13,657,543 | |
| $ 708,015,504 | $682,501,286 | ||
| Liabilities & Members' Equity | |||
| Members' deposits | $ 602,177,837 | $ 578,630,971 | |
| Borrowings | - | - | |
| Other | 1,928,028 | 2,268,758 | |
| Share capital | 20,576,062 | 20,671,832 | |
| Retained earnings | 83,333,577 | 80,929,725 | |
| $ 708,015,504 | $ 682,501,286 | ||
Consolidated Income Statement (audited)
| For nine months ended | ||
| 31-Oct-23 | 31-Oct-22 | |
| Interest income | $ 26,673,239 | $17,199,422 |
| Interest expense | 11,653,150 | 4,349,105 |
| Financial margin | 15,020,089 | 12,850,317 |
| Provision for credit losses | 441,925 | (230,999) |
| Other income | 2,414,747 | 2,534,691 |
| Gross margin | 16,992,911 | 15,616,007 |
| Operating expenses | 13,268,239 | 11,365,987 |
|
Net income
|
$ 3,724,672 | $ 4,250,020 |
|
(before taxes & dividends)
|
||
Bonnyville, AB - Thursday | November 30, 11:13 AM