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Plans for Operating Independently

Plans for Operating Independently

You need to explain and support how the PFCU will continue operations after Year 2 while remaining solvent (showing positive net worth).1 Include assumptions in this section and provide support in the form of annual pro forma financial projections (including balance sheet and income statement projections) demonstrating when the PFCU will generate positive net income absent grants or donations from outside sources. Submit pro forma financial projections that extend through the year positive net income is achieved.


1 Net worth is computed as all the credit union’s retained earnings, including undivided earnings, regular reserves, uninsured secondary capital (available for LID credit unions only), net income, and other reserves (excluding the allowance for loan and lease losses, and accumulated gains/losses on available for sale securities).

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