Dec, 31, 2023 — POLAM FEDERAL CREDIT UNION is a federal credit union headquartered in LOS ANGELES, CA with 2 branch locations and about $72.59 million in total assets. Opened 55 years ago in 1969, POLAM FEDERAL CREDIT UNION has about 2,039 members and employs 12 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | POLAM FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 589 N LARCHMONT BLVD LOS ANGELES, CA 90004-1305 |
| Phone: | (323) 463-5137 |
| Fax: | (323) 460-4518 |
| Website: | https://www.polam.org |
| Branches: | 2 branch locations |
| Members: | 2,039 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 19739 |
|---|---|
| Membership Type: | Multiple common bond - other |
| Corporate Credit Union: | No |
| Year Opened: | 1969 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $72,586,549 |
| CEO/Manager: | Jennifer Audette |
| Chairperson: | Mariusz Kicinski |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 2,655,968 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 32,714,150 |
| Unsecured Loans | 413,813 |
| Other Loans | 3,583,569 |
| TOTAL LOANS | 36,711,532 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -321,574 |
| Land And Building | 706,560 |
| Other Fixed Assets | 283 |
| NCUSIF Deposit | 659,428 |
| All Other Assets | 0 |
| TOTAL ASSETS | 72,586,549 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 145,657 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 7,653,774 |
| Regular shares | 12,444,781 |
| All Other Shares & Deposits | 45,778,090 |
| TOTAL SHARES & DEPOSITS | 65,876,645 |
| TOTAL LIABILITIES | 66,022,302 |
| Regular Reserve | 0 |
| Other Reserves | -1,272,276 |
| Undivided Earnings | 7,836,523 |
| TOTAL EQUITY | 6,564,247 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 72,586,549 |
| INCOME & EXPENSE | |
| Loan Income | 1,493,679 |
| Investment Income | 833,566 |
| Other Income | 65,188 |
| Total Employee Compensation & Benefits | 826,227 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 693,807 |
| Non-operating Income & (Expense) | 6,500 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -5,397 |
| Cost of Funds | 1,339,912 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -298,200 |
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