July 31, 2026
BALANCE SHEETS
As of July 31, 2026 and 2025 (Dollars in thousands)
| ASSETS | July 2026 | July 2025 |
|---|---|---|
| Cash and cash equivalents | $153,761 | $185,688 |
| Employee advances | - | 5 |
| Other accounts receivable, net | 155 | 176 |
| Prepaid expenses and other assets | 9,793 | 9,560 |
| Operating lease right-of-use assets | 5,528 | 6,478 |
| Assets held for sale | - | 257 |
| Fixed assets 1 | 26,227 | 27,394 |
| Intangible assets 2 | 13,390 | 17,236 |
| TOTAL ASSETS | $208,854 | $246,794 |
LIABILITIES AND FUND BALANCE
| LIABILITIES | July 2026 | July 2025 |
|---|---|---|
| Accounts payable and accrued other liabilities | $23,749 | $26,135 |
| Finance lease liabilities | 43 | 113 |
| Operating lease liabilities | 5,883 | 6,850 |
| Accrued wages and benefits | 7,102 | 15,488 |
| Accrued FECA and Unemployment Benefits | 347 | 900 |
| Accrued actuarial FECA benefits | 3,382 | 3,244 |
| Deferred revenue3 | 46,925 | 59,238 |
| Accrued annual leave | 20,629 | 26,480 |
| TOTAL LIABILITIES | 108,060 | 138,448 |
| FUND BALANCE | 100,794 | 108,346 |
| TOTAL LIABILITIES AND FUND BALANCE | $208,854 | $246,794 |
STATEMENTS OF REVENUES, EXPENSES, AND CHANGES IN FUND BALANCE
For the periods ended July 31, 2026 and 2025 (Dollars in thousands)
| REVENUES | July 2026 | Year-to-Date July 2026 | Year-to-Date July 2025 |
|---|---|---|---|
| Operating fees | $9,354 | $65,664 | $82,934 |
| Interest | 437 | 2,645 | 3,489 |
| Other | 51 | 351 | 3,134 |
| Total Revenues | 9,842 | 68,660 | 89,557 |
| EXPENSES, NET 4 | July 2026 | Year-to-Date July 2026 | Year-to-Date July 2025 |
|---|---|---|---|
| Employee wages and benefits | 7,674 | 47,479 | 68,379 |
| Travel | 451 | 2,636 | 3,125 |
| Rent, communications, and utilities | 189 | 1,433 | 1,536 |
| Contracted services | 1,698 | 13,953 | 14,919 |
| Depreciation and amortization | 262 | 2,030 | 2,178 |
| Administrative | 43 | 586 | 369 |
| Total Expenses, Net | 10,317 | 68,117 | 90,506 |
| EXCESS OF REVENUES OVER/(UNDER) EXPENSES | (475) | 543 | (949) |
| FUND BALANCE-Beginning of period | 101,269 | 100,251 | 109,295 |
| FUND BALANCE-End of period | $100,794 | $100,794 | $108,346 |
STATEMENTS OF CASH FLOWS
For the periods ended July 31, 2026 and 2025 (Dollars in thousands)
| Item | July 2026 | Year-to-Date July 2026 | Year-to-Date July 2025 |
|---|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||
| Excess of revenues over (under) expenses | $(475) | $543 | $(949) |
| Adjustments to reconcile excess of revenues over (under) expenses to net cash provided by operating activities before allocation to the NCUSIF: | |||
| Depreciation and amortization | 693 | 5,367 | 5,770 |
| 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 | 27 | 4,781 | 2,140 |
| Employee advances | - | - | 6 |
| Other accounts receivable, net | 124 | 392 | 396 |
| Prepaid expenses and other assets | (50) | (4,041) | (2,886) |
| (Decrease) increase in liabilities | |||
| Accounts payable | (997) | 4,762 | 4,039 |
| Operating lease liabilities | - | (490) | (466) |
| Accrued wages and benefits | (3,699) | (20,496) | (3,296) |
| Accrued FECA and unemployment benefits | - | 114 | 814 |
| Deferred revenue | (9,385) | 46,925 | 59,238 |
| Accrued annual leave | - | (7,770) | 951 |
| Accrued employee travel | - | (128) | (299) |
| Net Cash Provided by/(Used in) Operating Activities | (13,762) | 30,437 | 63,190 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||
| Purchases of fixed and intangible assets | (2,307) | (2,977) | (1,346) |
| 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 | (2,307) | (2,977) | 1,848 |
| 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 | (16,069) | 27,425 | 65,004 |
| CASH AND CASH EQUIVALENTS-Beginning of period | 169,830 | 126,336 | 120,684 |
| CASH AND CASH EQUIVALENTS-End of period | $ 153,761 | $ 153,761 | $ 185,688 |
| 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 $53,434 and $48,309 as of July 31, 2026 and 2025, respectively.
2 Net of accumulated amortization of $46,609 and $42,456 as of July 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.