June 30, 2026
BALANCE SHEETS
As of June 30, 2026 and 2025 (Dollars in thousands)
| ASSETS | June 2026 | June 2025 |
|---|---|---|
| Cash and cash equivalents | $169,830 | $ 191,276 |
| Due from National Credit Union Share Insurance Fund | 27 | 3 |
| Employee advances | - | 5 |
| Other accounts receivable, net | 280 | 464 |
| Prepaid expenses and other assets | 9,743 | 9,044 |
| Operating lease right-of-use assets | 5,528 | 6,478 |
| Assets held for sale | - | 682 |
| Fixed assets 1 | 24,100 | 27,774 |
| Intangible assets 2 | 13,902 | 17,524 |
| TOTAL ASSETS | $ 223,410 | $ 253,250 |
LIABILITIES AND FUND BALANCE
| LIABILITIES | June 2026 | June 2025 |
|---|---|---|
| Accounts payable and accrued other liabilities | $ 24,746 | $ 25,245 |
| Finance lease liabilities | 43 | 113 |
| Operating lease liabilities | 5,883 | 6,850 |
| Accrued wages and benefits | 10,801 | 12,180 |
| Accrued FECA and Unemployment Benefits | 347 | 900 |
| Accrued actuarial FECA benefits | 3,382 | 3,244 |
| Deferred revenue3 | 56,310 | 71,086 |
| Accrued annual leave | 20,629 | 26,480 |
| TOTAL LIABILITIES | 122,141 | 146,098 |
| FUND BALANCE | 101,269 | 107,152 |
| TOTAL LIABILITIES AND FUND BALANCE | $ 223,410 | $ 253,250 |
STATEMENTS OF REVENUES, EXPENSES, AND CHANGES IN FUND BALANCE
For the periods ended June 30, 2026 and 2025 (Dollars in thousands)
| REVENUES | June 2026 | Year-to-Date June 2026 | Year-to-Date June 2025 |
|---|---|---|---|
| Operating fees | $ 9,385 | $ 56,310 | $ 71,086 |
| Interest | 497 | 2,208 | 2,831 |
| Other | 54 | 300 | 336 |
| Total Revenues | 9,936 | 58,818 | 74,253 |
| EXPENSES, NET 4 | June 2026 | Year-to-Date June 2026 | Year-to-Date June 2025 |
|---|---|---|---|
| Employee wages and benefits | 8,450 | 39,805 | 57,150 |
| Travel | 481 | 2,185 | 2,623 |
| Rent, communications, and utilities | 204 | 1,244 | 1,284 |
| Contracted services | 1,940 | 12,255 | 13,145 |
| Depreciation and amortization | 263 | 1,768 | 1,882 |
| Administrative | 134 | 543 | 312 |
| Total Expenses, Net | 11,472 | 57,800 | 76,396 |
| EXCESS OF REVENUES OVER/(UNDER) EXPENSES | (1,536) | 1,018 | (2,143) |
| FUND BALANCE—Beginning of period | 102,805 | 100,251 | 109,295 |
| FUND BALANCE—End of period | $ 101,269 | $ 101,269 | $ 107,152 |
STATEMENTS OF CASH FLOWS
For the periods ended June 30, 2026 and 2025 (Dollars in thousands)
| Item | June 2026 | Year-to-Date June 2026 | Year-to-Date June 2025 |
|---|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||
| Excess of revenues over (under) expenses | $ (1,536) | $ 1,018 | $ (2,143) |
| Adjustments to reconcile excess of revenues over (under) expenses to net cash provided by operating activities before allocation to the NCUSIF: | |||
| Depreciation and amortization | 694 | 4,674 | 4,988 |
| Noncash operating lease expense | 240 | 478 | 467 |
| (Increase) decrease in assets: | |||
| Due from National Credit Union Share Insurance Fund | (9) | 4,755 | 2,137 |
| Employee advances | - | - | 6 |
| Other accounts receivable, net | 91 | 268 | 108 |
| Prepaid expenses and other assets | 994 | (3,991) | (2,369) |
| (Decrease) increase in liabilities | |||
| Accounts payable | (490) | 5,759 | 3,150 |
| Operating lease liabilities | (249) | (490) | (466) |
| Accrued wages and benefits | 1,686 | (16,797) | (6,605) |
| Accrued FECA and unemployment benefits | 75 | 114 | 814 |
| Deferred revenue | (9,385) | 56,310 | 71,086 |
| Accrued annual leave | 898 | (7,770) | 951 |
| Accrued employee travel | - | (128) | (299) |
| Net Cash Provided by/(Used in) Operating Activities | (6,991) | 44,200 | 71,825 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||
| Purchases of fixed and intangible assets | (347) | (671) | (1,199) |
| Net Cash Provided by/(Used in) Investing Activities | (347) | (671) | (1,199) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||
| Principal payments under finance lease liabilities | (18) | (35) | (34) |
| Net Cash Provided by/(Used in) Financing Activities | (18) | (35) | (34) |
| NET INCREASE /(DECREASE) IN CASH AND CASH EQUIVALENTS | (7,356) | 43,494 | 70,592 |
| CASH AND CASH EQUIVALENTS—Beginning of period | 177,186 | 126,336 | 120,684 |
| CASH AND CASH EQUIVALENTS—End of period | $ 169,830 | $ 169,830 | $ 191,276 |
| 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 $53,086 and $47,851 as of June 30, 2026 and 2025, respectively.
2 Net of accumulated amortization of $46,265 and $42,099 as of June 30, 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.