Issue link: http://www.epageflip.net/i/964842
JM Associates Federal Credit Union Notes to the Financial Statements NOTE 11: FAIR VALUE MEASUREMENTS Recurring Basis The Credit Union uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. For additional information on how the Credit Union measures fair value, refer to Note 1: Significant Accounting Policies. The following tables present the balances of the assets and liabilities measured at fair value on a recurring basis: September 30, 2017 Total Level 1 Level 2 Level 3 Available-for-sale investments $ 58,577,937 $ - $ 58,577,937 $ - September 30, 2016 Total Level 1 Level 2 Level 3 Available-for-sale investments $ 54,790,408 $ - $ 54,790,408 $ - Available-for-Sale Securities: Fair values for securities are based on quoted market prices, where available. If quoted market prices are not available, fair values are based on quoted market prices of comparable instruments, or on discounted cash flow models based on the expected payment characteristics of the underlying instruments. Capital Mortgage Funding By partnering with Capital Mortgage Funding, JMAFCU is able to provide its members with numerous mortgage products – all backed by high-quality service. But don't just take our word for it! Here's what a few of our members had to say: "You both did a fantastic job for us, and we are extremely happy clients of yours. Our realtor was also very impressed with how often you called us to check in, and how responsive you were to me when we had a question. She had said it's not every day that she has a client whose bank is like that. So I know how lucky we are to have had you!" "I truly have nothing but positive things to say about you, John and this whole process. I was not looking forward to going through a refinance, as I travel a lot and am in more meetings than I should be in. I was worried about my availability to ensure this process went the way it should. Both you and John communicated to me in the exact way I liked." "I had a great experience, and I will definitely recommend you guys to co-workers and share my experience. Thank you." By the Numbers Total first mortgage amount closed for JMAFCU members in 2017 $5,800,000 29 The Way We Do Things Has Changed. Who We Are Has Not! • 2017 Annual Report