MASSACHUSETTS CREDIT UNION SHARE INSURANCE CORPORATION AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED SEPTEMBER 30, 2023 AND 2022
N OTE 2 - S UMMARY OF S IGNIFICANT A CCOUNTING P OLICIES (C ONTINUED ) R EGULATORY M ATTERS (C ONTINUED )
A historical summary of financial assistance provided by the Corporation under capital infusion agreements, and related repayments, through September 30, 2023 is as follows:
Capital Infused
Payments Received
Remaining
Balance
Naveo Credit Union (formerly CPCU Credit Union) F.H.B.T. Credit Union (merged with Freedom CU)
$ 1,511,420
$
(118,486) (68,102) (4,036,463) (30,984) (356,289) (268,636)
$ 1,392,934
68,102
-- -- -- -- --
St. Jean's Credit Union
4,036,463
Greater Springfield Credit Union
30,984 356,289 268,636
University Credit Union (merged with Metro CU)
First Citizens' Federal Credit Union
$ 6,271,894
$ (4,878,960) $ 1,392,934
There were no recoveries of capital assistance for the years ended September 30, 2023 and 2022. C ASH AND C ASH E QUIVALENTS The Corporation considers its holdings in short-term money market accounts and other deposit accounts with original maturities of three months or less to be cash equivalents. The Corporation maintains balances in financial institutions which may at times exceed federally insured limits. C ERTIFICATES OF D EPOSIT Certificates of deposit are carried at cost. I NVESTMENT S ECURITIES Trading Securities Securities that are held for short-term resale are classified as trading account securities and recorded at their fair values. Realized and unrealized gains and losses on trading account securities are included in other income in the consolidated statements of operations. The Corporation had no trading securities during the years ended September 30, 2023 and 2022.
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84 INTERNATIONAL COLLABORATION
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