2016 Financials

Consolidated Statement of Financial Condition (unaudited)

December 31, 2016

Assets

Loans to Members, Net of Allowance for Loan Losses
Cash and Investments
Property and Equipment
Accrued Interest Receivable
National Credit Union Share Insurance Fund Deposit
Other Assets 
Total Assets

$2,469,732,939
689,673,748
38,697,044
6,585,069
25,243,812
46,796,987
$3,276,729,599

Liabilities

Members’ Shares $2,866,273,331
Accrued Expenses and Other Liabilities 24,245,005
Total Liabilities 2,890,518,336

Member’s Equity

Realized Earnings
Unrealized Gain on Available-for-Sale Investments
Total Members’ Equity
Total Liabilities and Members’ Equitys
386,136,894
74,369
386,211,263
$3,276,729,599

Consolidated Statement of Operations (unaudited)

For the Year Ended December 31, 2016

Interest Income

Interest on Loans to Members $94,902,450
Interest on Investments and Cash Equivalents 6,971,172
Total Interest Income  101,873,622

Cost of Funds

Dividends on Members’ Shares
Interest on Borrowed Funds
Total Cost of Funds

5,457,831
1,204,510
6,662,341

Net Interest Income

95,211,281

Provision for Loan Losses

4,288,380

Net Interest Income after Provision for Loan Losses

90,922,901

50,355,476

Non-Interest Expense

84,058,768

Net Income

$57,219,609

2016 Assets

2016 Shares

2016 Loans

2016 Membership

2016 Equity

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Redwood Credit Union serves anyone living, working or owning a business in California’s Northern Bay Area, which includes the counties of Sonoma, Marin, Napa, Mendocino, Lake, San Francisco, Contra Costa and Solano. We look forward to serving you!

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