Dec, 31, 2023 — POWER CREDIT UNION is a federally insured state chartered credit union headquartered in PUEBLO, CO with 4 branch locations and about $115.12 million in total assets. Opened 86 years ago in 1938, POWER CREDIT UNION has about 12,468 members and employs 38 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | POWER CREDIT UNION |
|---|---|
| Address: (Main Office) | 1615 E Evans Ave PUEBLO, CO 81004-3418 |
| Phone: | (719) 564-0710 |
| Fax: | |
| Website: | https://www.powercu.org |
| Branches: | 4 branch locations |
| Members: | 12,468 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 64037 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1938 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $115,118,280 |
| CEO/Manager: | Vanessa Trexel |
| Chairperson: | Theodore Cook |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 12,664,040 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 22,781,686 |
| Unsecured Loans | 7,280,262 |
| Other Loans | 31,759,039 |
| TOTAL LOANS | 61,820,987 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -852,982 |
| Land And Building | 2,625,725 |
| Other Fixed Assets | 0 |
| NCUSIF Deposit | 990,161 |
| All Other Assets | 283,127 |
| TOTAL ASSETS | 115,118,280 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 735 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,908,343 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 15,598,182 |
| Regular shares | 35,065,053 |
| All Other Shares & Deposits | 50,307,002 |
| TOTAL SHARES & DEPOSITS | 100,970,236 |
| TOTAL LIABILITIES | 102,909,601 |
| Regular Reserve | 0 |
| Other Reserves | 1,110,173 |
| Undivided Earnings | 11,098,506 |
| TOTAL EQUITY | 12,208,679 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 115,118,280 |
| INCOME & EXPENSE | |
| Loan Income | 3,679,672 |
| Investment Income | 1,271,659 |
| Other Income | 1,032,904 |
| Total Employee Compensation & Benefits | 2,253,213 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,458,509 |
| Non-operating Income & (Expense) | -1 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 553,021 |
| Cost of Funds | 984,608 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 477,879 |
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