WASHINGTON–CUNA closed 2019 with a net operating margin of $2 million, an increase over the $1.2 million in reported for 2018.
Those figures are preliminary and not officially audited, according to CUNA’ Treasurer Tony Budet, president and CEO of University FCU in Austin, Texas. Budet released the figure during CUNA’s GAC.
CUNA reported a sharp increase in 2019 in total assets of $86 million due primarily to funds donated in support of its Open Your Eyes awareness initiative ($34 million).
For the same reason, it net assets also show a bump to $51 million.
Overall, CUNA had 2019 operating revenues of $62.1 million against expenses of $60.1 million. Dues remain its primary source of revenue at $30.5 million, with $26.9 million in solutions income and $4.8 million in other income.
For 2020 CUNA is projecting revenues of $70.2 million against expenses of $70.1 million. It expects dues income to increase to $32.2 million this year.