MSIC AUDITED F MSIC AUDITED FINANCIAL STATEMENTS
MASSACHUSETTS CREDIT UNION SHARE INSURANCE CORPORATION AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED SEPTEMBER 30, 2022 AND 2021
N OTE 3 - C ASH AND C ASH E QUIVALENTS At September 30, cash and cash equivalents are comprised of the following:
2022
2021
Checking account deposits Other interest-bearing deposits
$ 1,413,131 13,003,560
$
741,721
32,124,469
$ 14,416,691
$ 32,866,190
N OTE 4 - C ERTIFICATES OF D EPOSIT Certificates of deposit by maturity and weighted average interest rate at September 30, 2022, are as follows: Weighted Amount Average Rate
$ 4,000,000
Due in one year or less
0.47%
N OTE 5 - I NVESTMENT S ECURITIES Investment securities have been classified according to management’s intent. The amortized cost and fair value of investment securities, with gross unrealized gains and losses are as follows for securities available-for-sale at September 30, 2022:
Gross
Gross
Amortized
Unrealized
Unrealized
Fair
Cost
Gains
Losses
Value
U.S. government and government- sponsored enterprise obligations Mortgage-backed securities
$ 59,308,434
$
-- -- --
$ (3,967,765) $ 55,340,669
9,336,881 262,696
(1,245,587)
8,091,294 231,738
Municipal bonds
(30,958)
$
--
$ (5,244,310) $ 63,663,701
$ 68,908,011
18
66
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