Acc 230 Week 1

I chose to do the company that I work for TTCU The Credit Union. The website where I found the reports is http://www.ttcu.com/ASP/financial.asp. The strengths that I see are the total assets, the loans to members, and the expenses. The total assets for the company came to $1,088,499 which is really good. The loans to members are what we are financing for our members. This means that we are earning interest income on the money that is loaned out. It is at $666,188. The operating expense is at 30,575 which seem really good to me considering we are the largest credit union in the Tulsa area.

Three weaknesses that I see are the net income, the long term borrowing liabilities, and the property and equipment asset. I do not know if the fact that a credit union is not for profit is why the net income is only $11,728. I would think that it would have had more profit than that. The long term borrowing was $104,012. It seems low when it is compared to the total assets but I would have liked to see it a little lower. The property and equipment assets I thought would be way higher than $24,930. We have 12 branches and only 1 or 2 of them are leased space. I am not sure why these are not considered into the property.

I could not find the past financial statements online but I have worked for the company for almost 4 years so I know generally that the company has progressively gotten better. I think that the net income has probably stayed about the same since we are not for profit. I know that recently, we have become a billion dollar credit union so I know they must be doing something right!