Elements Financial 2020 Annual Report

Page 14

Financial Statements Consolidated Statement of Financial Condition Selected Data in Millions (unaudited)

Assets

2020

2019

Cash and Investments

$747.2

$380.0

Loans to Members

1,226.5

1,260.2

Allowance for loan losses

(11.4)

(9.6)

Other Assets

62.8

57.1

$2,025.1

$1,687.7

$1,731.4

$1,391.4

Other Liabilities

111.8

145.1

Members’ Equity

181.9

151.2

$2,025.1

$1,687.7

Total Assets Liabilities and Members’ Equity Share Savings, Drafts, and Certificates

Total Liabilities and Members’ Equity Net Worth Ratio

8.58%

8.85%

In management’s opinion, the selected financial data presented herein is free of material error and accurately reflects the financial position and/ or results of operations of Elements Financial for the periods presented. Members may request a complete copy of our audited financial statements by calling (800) 621-2105. A credit union must have a Net Worth to Assets ratio of at least 7.00% to be considered “Well Capitalized” by the National Credit Union Administration (NCUA).


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