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Federal Home Loan Bank Stock
9 Months Ended
Mar. 31, 2024
Federal Home Loan Banks [Abstract]  
Federal Home Loan Bank Stock
Note 7: Federal Home Loan Bank Stock
Federal Home Loan Bank stock is a required investment for institutions that are members of the Federal Home Loan Bank system. The required investment in the common stock is based on a predetermined formula. The Company owned approximately $5,419,000 and $3,127,000 of Federal Home Loan Bank stock as of March 31, 2024 and June 30, 2023, respectively. The FHLB provides liquidity and funding through advances.