August 31, 2026
BALANCE SHEETS
As of August 31, 2026 and 2025 (Dollars in thousands)
| ASSETS | August 2026 | August 2025 |
|---|---|---|
| Cash and cash equivalents | $147,750 | $170,466 |
| Employee advances | - | 4 |
| Other accounts receivable, net | 232 | 413 |
| Prepaid expenses and other assets | 10,204 | 9,520 |
| Operating lease right-of-use assets | 5,528 | 6,478 |
| Assets held for sale | - | 257 |
| Fixed assets 1 | 25,831 | 26,939 |
| Intangible assets 2 | 13,165 | 16,944 |
| TOTAL ASSETS | $202,710 | $231,021 |
LIABILITIES AND FUND BALANCE
| LIABILITIES | August 2026 | August 2025 |
|---|---|---|
| Accounts payable and accrued other liabilities | $26,103 | $25,824 |
| Finance lease liabilities | 43 | 113 |
| Operating lease liabilities | 5,883 | 6,850 |
| Accrued wages and benefits | 7,912 | 11,008 |
| Accrued FECA and Unemployment Benefits | 347 | 900 |
| Accrued actuarial FECA benefits | 3,382 | 3,244 |
| Deferred revenue3 | 37,540 | 47,391 |
| Accrued annual leave | 20,629 | 26,480 |
| TOTAL LIABILITIES | 101,839 | 121,810 |
| FUND BALANCE | 100,871 | 109,211 |
| TOTAL LIABILITIES AND FUND BALANCE | $202,710 | $231,021 |
STATEMENTS OF REVENUES, EXPENSES, AND CHANGES IN FUND BALANCE
For the periods ended August 31, 2026 and 2025 (Dollars in thousands)
| REVENUES | August 2026 | Year-to-Date August 2026 | Year-to-Date August 2025 |
|---|---|---|---|
| Operating fees | $9,385 | $75,049 | $94,781 |
| Interest | 449 | 3,094 | 4,127 |
| Other | 61 | 412 | 3,197 |
| Total Revenues | 9,895 | 78,555 | 102,105 |
| EXPENSES, NET 4 | August 2026 | Year-to-Date August 2026 | Year-to-Date August 2025 |
|---|---|---|---|
| Employee wages and benefits | 7,116 | 54,595 | 77,220 |
| Travel | 371 | 3,006 | 3,586 |
| Rent, communications, and utilities | 197 | 1,631 | 1,713 |
| Contracted services | 1,851 | 15,804 | 16,794 |
| Depreciation and amortization | 265 | 2,295 | 2,481 |
| Administrative | 18 | 604 | 395 |
| Total Expenses, Net | 9,818 | 77,935 | 102,189 |
| EXCESS OF REVENUES OVER/(UNDER) EXPENSES | 77 | 620 | (84) |
| FUND BALANCE-Beginning of period | 100,794 | 100,251 | 109,295 |
| FUND BALANCE-End of period | $100,871 | $100,871 | $109,211 |
STATEMENTS OF CASH FLOWS
For the periods ended August 31, 2026 and 2025 (Dollars in thousands)
| Item | August 2026 | Year-to-Date August 2026 | Year-to-Date August 2025 |
|---|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||
| Excess of revenues over (under) expenses | $77 | $620 | $(84) |
| Adjustments to reconcile excess of revenues over (under) expenses to net cash provided by operating activities before allocation to the NCUSIF: | |||
| Depreciation and amortization | 698 | 6,067 | 6,570 |
| Noncash operating lease expense | - | 478 | 467 |
| Provision for (gain) loss on disposal of assets held for sale | - | - | 29 |
| (Gain) Loss on disposal of asset held for sale | - | - | (2,764) |
| (Increase) decrease in assets: | |||
| Due from National Credit Union Share Insurance Fund | - | 4,781 | 2,140 |
| Employee advances | - | - | 6 |
| Other accounts receivable, net | (76) | 315 | 159 |
| Prepaid expenses and other assets | (411) | (4,452) | (2,845) |
| (Decrease) increase in liabilities | |||
| Accounts payable | 2,355 | 7,117 | 3,731 |
| Operating lease liabilities | - | (490) | (466) |
| Accrued wages and benefits | 810 | (19,686) | (7,776) |
| Accrued FECA and unemployment benefits | - | 114 | 814 |
| Deferred revenue | (9,385) | 37,540 | 47,391 |
| Accrued annual leave | - | (7,770) | 951 |
| Accrued employee travel | - | (128) | (299) |
| Net Cash Provided by/(Used in) Operating Activities | (5,932) | 24,506 | 48,024 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||
| Purchases of fixed and intangible assets | (79) | (3,057) | (1,402) |
| Purchases of assets held for sale | - | - | (285) |
| Proceeds from sale of assets held for sale | - | - | 3,479 |
| Net Cash Provided by/(Used in) Investing Activities | (79) | (3,057) | 1,792 |
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||
| Principal payments under finance lease liabilities | - | (35) | (34) |
| Net Cash Provided by/(Used in) Financing Activities | - | (35) | (34) |
| NET INCREASE /(DECREASE) IN CASH AND CASH EQUIVALENTS | (6,011) | 21,414 | 49,782 |
| CASH AND CASH EQUIVALENTS-Beginning of period | 153,761 | 126,336 | 120,684 |
| CASH AND CASH EQUIVALENTS-End of period | $ 147,750 | $ 147,750 | $ 170,466 |
| SUPPLEMENTAL DISCLOSURE OF NONCASH ACTIVITIES | |||
| Retirement of fully depreciated assets | - | - | $927 |
| Acquisition of equipment under finance lease | - | - | $(34) |
The balances in the statement above are preliminary and unaudited.
1 Net of accumulated depreciation of $53,788 and $48,763 as of August 31, 2026 and 2025, respectively.
2 Net of accumulated amortization of $46,955 and $42,804 as of August 31, 2026 and 2025, respectively.
3 The Operating Fund recognizes operating fee revenue ratably over the calendar year. The deferred revenue is the remaining amount to be recognized over the remainder of the calendar year.
4 Operating Fund expenses are the total NCUA operating expenses reduced by the Share Insurance Fund allocation as determined by the overhead transfer rate.