Table 54-1
Local credit unions — Balance sheet and income statement

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Local credit unions — Balance sheet and income statement
  2007 2008 2009 2010 2011
  millions of dollars
Balance sheet  
Assets 211,935 231,287 245,072 257,329 279,178
Cash and deposits 15,723 18,137 19,687 20,587 22,251
Accounts receivable and accrued revenue 1,066 862 900 1,176 1,372
Inventories .. .. .. .. ..
Investments 12,006 14,112 14,851 15,893 17,523
Investments and accounts with affiliates 5,413 4,616 4,393 5,160 5,665
Portfolio investments 6,593 9,496 10,458 10,733 11,858
Loans 179,954 193,746 205,535 214,973 231,672
Mortgages 126,069 135,651 142,738 153,821 167,990
Non-mortgages 53,885 58,095 62,797 61,152 63,682
Bank customers' liabilities under acceptances .. .. .. .. ..
Capital assets, net 2,182 2,356 2,422 2,429 2,370
Other assets 1,005 2,075 1,678 2,271 3,990
Liabilities 195,405 213,462 225,369 236,495 257,012
Accounts payable and accrued liabilities 3,517 5,948 4,974 4,918 4,342
Loans and accounts with affiliates 751 756 1,313 1,764 2,050
Borrowings 9,779 10,172 8,924 9,222 14,241
Loans and other borrowings 9,779 10,172 8,924 9,222 14,241
Bankers' acceptances and paper .. .. .. .. ..
Bonds and debentures .. .. .. .. ..
Mortgages 0 0 0 0 0
Future income taxes -1 -3 195 233 387
Bank customers' liabilities under acceptances .. .. .. .. ..
Other liabilities 181,360 196,589 209,964 220,359 235,992
Equity 16,530 17,825 19,703 20,833 22,167
Share capital 2,545 2,679 3,522 3,969 3,888
Contributed surplus and other 9,667 10,446 11,520 11,935 11,174
Retained earnings 4,318 4,700 4,662 4,930 7,105
Income statement  
Operating revenue 14,121 15,916 12,980 13,949 14,229
Sales of goods and services .. .. .. .. ..
Interest and dividend revenue (operating) 11,560 12,000 10,701 11,045 10,556
Other operating revenue 2,561 3,916 2,279 2,904 3,673
Operating expenses 11,751 12,800 11,718 12,235 12,067
Purchased goods, materials and service 4,823 4,250 3,572 3,980 4,101
Wages, salaries and employee benefits 1,497 2,778 3,062 3,775 3,587
Indirect taxes .. .. .. .. ..
Depreciation, depletion and amortization 223 236 223 223 190
Interest expense (operating) 4,905 5,153 4,263 3,683 3,642
Other operating expenses 303 383 598 572 548
Operating profit/loss 2,370 3,116 1,262 1,715 2,162
Interest and dividend revenue .. .. .. .. ..
Interest expense on borrowing 564 573 367 344 469
Gains/losses 39 29 37 62 58
Profit before income tax 1,846 2,572 932 1,433 1,751
Income tax 371 601 163 350 357
Equity in affiliates' earnings 400 -354 398 534 455
Profit before extraordinary gains 1,875 1,617 1,167 1,617 1,849
Extraordinary gains 0 0 0 0 0
Net profit 1,875 1,617 1,167 1,617 1,849
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