b'PROTECTING ACHIEVING Supervisory Committee Report 2020 Financials Mission Fed Credit UnionMission Feds Supervisory Committee is comprised of volunteer members who have oversight responsibility for the internal and external auditConsolidated Statement of Financial Condition (Audited), Consolidated Statement of Income (Audited),activity of Mission Federal Credit Union. This years committee members include: Scott Patterson, Tina Douglas and myself.as of December 31, 2020 (in thousands)for the Year Ended December 31, 2020 (in thousands) Annually, Mission Fed undergoes an extensive oversight process by the National Credit Union Administration (NCUA) regulators, external auditors, and the internal audit team. Despite the changed circumstances with the pandemic, over 35 audits were completed throughout the year, evaluatingAssets Interest Incomevarious aspects of the credit unions operations. Overall, audit results were favorable, including the results of the recent NCUA examination.Total Loans $2,736,799 Loans $107,914 We enlisted the services of the external audit firm CliftonLarsonAllen (CLA) to conduct the credit unions financial statements audit as ofAllowance for Loan Losses (27,596) Investments 11,70212/31/2020. We are pleased to share with our membership that Mission Fed is in excellent financial condition. The 2020 consolidated financialNet Investments & Cash Equivalents 1,695,231 Total Interest Income $119,616statements were issued with an unmodified opinion, which is the best type of audit opinion the credit union can receive. Mission Fed maintains a strong return on assets, has solid internal controls in place, remains well capitalized with a substantial buffer over theOther Assets 274,911 15 amounts required by regulators, and continues to grow membership, deposits and loans.Total Assets $4,679,345 Interest Expense 16Mission Fed is also compliant with federal regulations and undergoes various compliance assessments throughout the year. Mission FedDeposits $16,738continues to make appropriate process and policy changes as new rules and regulations are introduced. The Coronavirus Aid, Relief, and EconomicLiabilities and Equity Borrowed Funds 780Security Act (CARES Act) was signed into law in response to the impact of the COVID-19 pandemic and Mission Fed worked diligently in makingTotal Deposits $4,044,451 Total Interest Expense $17,518the necessary adjustments to operational processes to comply with the CARES Act requirements. Mission Fed has remained vigilant over the developments of the COVID-19 pandemic and related national, state and county guidance to continue to serve its members in a safe environment,Borrowed Funds 10,500while remaining compliant and protecting staff and members.Other Liabilities 55,164 Net Interest Income $102,098The credit unions commitment to ensuring strong financial reserves, sound business practices and dedicated leadership enables us to manageTotal Members Equity 569,230 Provision for Loan Losses 19,677changes in the economic and regulatory environment, while maintaining a healthy financial position.Total Liabilities and Equity $4,679,345 Non-Interest Income 58,119Respectfully submitted,Non-Interest Expense 108,424 Net Income $32,116 Malliga TholandiChair, Supervisory Committee'