Energy One Financial Statement

Comparative Financial Statement

As of December 31, 2006 and 2007

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Assets	2007	2006
Loans (Note 4)	$106,947,376	$97,084,483
Cash and Due from Banks	1,883,038	1,112,386
Other Receivables (Note 3)	68,522	501,942
Investments	41,352,254	46,392,117
Accrued Income	680,526	675,475
Deferred Expenses	170,302	145,610
Furniture and Equipment - Net	544,613	432,035
Land and Building - Net	1,716,006	1,545,451
NCUSIF Deposit	1,260,013	1,202,180
Other Assets	356,054	356,052

Total Assets	$155,300,448	$149,447,743

Liabilities	2007	2006
Notes Payable (Note 1)	$3,500,000	$5,000,000
Accounts Payable	706,651	706,653
Dividends/Interest Payable	53,319	53,310
Other Liabilities	713,157	564,429

Total Liabilities	$5,115,149	$6,324,392

Equity
Member Shares	$16,701,046	$19,153,810
Share Certificates	38,909,600	37,495,389
Individual Retirement Accounts	9,231,561	9,231,560
Money Market Accounts	50,197,218	45,055,567
Share Draft Accounts	23,103,653	21,485,212
Statutory Reserves (Note 2)	4,288,095	4,288,095
Undivided Earnings (Note 2)	6,914,091	6,413,704
Total Equity	$150,185,299	$143,123,343

Total Liabilities and Equity	$155,300,448	$149,447,743

Note 1: COST OF BORROWED FUNDS/NOTES PAYABLE - The credit union had fixed rate borrowing in the amount of $3,500,000 as of December 31, 2007. These borrowings were originally used to fund long term assets. As they reach maturity we are not replacing or renewing them. We do not anticipate the need for this type of funding in the near future.

Note 2: STATUTORY RESERVES AND UNDIVIDED EARNINGS - Statutory reserves were unchanged in 2007. Undivided earnings increased $500,388. This included net income for 2007 in the amount of $498,475 and a prior year adjustment of $1,913.

Note 3: OTHER RECEIVABLES - Other receivables include mortgage loans that have been sold but not funded. As of December 31, 2007 there were no loans to be funded compared with December 31, 2006 which included one unfunded mortgage loan in the amount of $352,200.

Note 4: LOANS TO MEMBERS - The loan portfolio was comprised of $3,644,282 in unsecured loans, $24,283,322 in non-real estate secured loans, $5,235,363 in commercial loans, and $74,320,843 in real estate loans as of December 31, 2007. The consumer real estate portfolio was comprised of $48,244,223 in first mortgages, $15,929,650 in home equity lines of credit, and $10,146,971 in other real estate loans. Commercial loans were comprised of $4,912,461 in real estate loans, $269,582 in non-real estate secured loans, and $53,320 in unsecured loans. Also included in Loans-Net are credits of $125,330 and $411,104 which reflect the balance in the Allowance for Loan Loss and prepaid mortgage points, respectively. The amount of unused lines of credit available was $19,140,744. The amount of unused lines of credit on unsecured loans was $4,046,270 as of December 31, 2007.