$150.8
$142.2
2.72%
Investment assets, which include the real estate investment, decreased during the year. This decrease primarily resulted from decreased borrowings of $6 million at the Federal Home Loan Bank of Boston (FHLBB) and a $4.4 million net decrease in Liquidity Reserve Fund deposits. The investment balance decrease was offset by a $1.6 million decrease in the unrealized losses on the investment portfolio, which resulted from portfolio turnover. Investment yield increased due to investing excess cash holdings into higher earning investment securities, reinvesting into higher yielding investment securities, and the increase in interest rates on many of the cash accounts. The investment yield was further positively impacted by the substantial improvement of the annual return on the real estate investment.
$124.8
$150.8
$109.8
$142.2
2.72%
$98.2
$124.8
2.13%
$109.8
$98.2
2.13%
0.69%
0.69%
-0.05%
0.53% 0.53%
-0.05%
2019
2020 2021 2020 2021
2022
2023
2019
2022
2023
Investment Balance
Investment Yield
Investment Balance
Investment Yield
INVESTMENT BALANCE & INVESTMENT YIELD (Includes MSIC Properties, LLC) Fiscal Years Ending September 30 ($ in Millions)
Investment yield increased due to investing excess cash holdings into higher earning investment securities, reinvesting into higher yielding investment securities, and the increase in interest rates on many of the cash accounts.
$5,571
$5,134
$3,742
During Fiscal Year 2023, after experiencing four consecutive years of double-digit excess deposit growth, the growth rate dropped. This led to assessment revenue decreasing by $2.9 million during Fiscal Year 2023. The decrease in the excess deposit growth rate and the assessment revenue were despite adding one new member during the fiscal year. During the early 1990s, Capital Infusions were made to six members, as a condition for these six credit unions obtaining federal primary insurance through the NCUA. By September 30, 2018, all but one of these members repaid the capital infusions they received at that time. Given the
$2,430
$2,244
2019
2020 2021
2022
2023
ASSESSMENT REVENUES Fiscal Years Ending September 30 ($ in Thousands)
28 INTERNATIONAL COLLABORATION
Powered by FlippingBook