7 6 5 4 3 2 1 8 - Elevations Credit Union
7 6 5 4 3 2 1 8 - Elevations Credit Union
7 6 5 4 3 2 1 8 - Elevations Credit Union
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<strong>Elevations</strong> <strong>Credit</strong> <strong>Union</strong><br />
Statements of Members’ Equity<br />
For the Years Ended December 31, 2008 and 2007<br />
ELEVATIONS <strong>Credit</strong> <strong>Union</strong> 2008 annual report 27<br />
Accumulated<br />
Retained Earnings Other<br />
Regular Comprehensive<br />
Reserve Unappropriated Total Income (Loss)<br />
Balance,<br />
December 31, 2006 $ 11,879,721 $ 53,214,530 $ 65,094,251 $ 0<br />
Net income 3,467,859 3,467,859<br />
Change in unrealized gains<br />
(losses) on available-for-sale<br />
investments 540,173<br />
Balance,<br />
December 31, 2007 11,879,721 56,682,389 68,562,110 540,173<br />
Net loss (5,386,366) (5,386,366)<br />
Change in unrealized gains<br />
(losses) on available-for-sale<br />
investments (650,116)<br />
Balance,<br />
December 31, 2008 $ 11,879,721 $ 51,296,023 $ 63,175,744 $ (109,943)<br />
The accompanying notes are an integral part of these statements. 5
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