JM Associates Federal Credit Union Notes to the Financial Statements
Held-to-Maturity
Investments classified as held-to-maturity securities consist of the following:
September 30, 2017
Amortized Cost
Gross
Unrealized Gains
Gross
Unrealized Losses
Fair Value
Certificates of deposit $ - $ - $ - $ -
September 30, 2016
Amortized Cost
Gross
Unrealized Gains
Gross
Unrealized Losses
Fair Value
Certificates of deposit $ 496,000 $ - $ - $ 496,000
The amortized cost and estimated fair value of securities by contractual maturity are shown below. Expected maturities
may differ from contractual maturities because issuers may have the right to call or prepay certain obligations without call
or prepayment penalties.
Other Investments
Other investments consist of the following:
September 30, 2017 September 30, 2016
Perpetual capital at corporate Credit Unions $ 83,570 $ 83,570
CUSO
6,490 6,490
Total
$ 90,060 $ 90,060
Perpetual contributed capital is not subject to share insurance covered by the National Credit Union Share Insurance Fund or
any other deposit insurer. The perpetual contributed capital is redeemable only at the option of corporate Credit Union, provided
regulatory approval is obtained. Perpetual contributed capital cannot be pledged against borrowings, has no scheduled maturity,
and offers non-cumulative dividends.
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19 The Way We Do Things Has Changed. Who We Are Has Not! • 2017 Annual Report
