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POWER CO-OP EMPLOYEES CREDIT UNION

Dec, 31, 2023 — POWER CO-OP EMPLOYEES CREDIT UNION is a federally insured state chartered credit union headquartered in HUMBOLDT, IA with 1 branch location and about $63.79 million in total assets. Opened 68 years ago in 1956, POWER CO-OP EMPLOYEES CREDIT UNION has about 2,401 members and employs 7 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 CO-OP EMPLOYEES CREDIT UNION
Address:
(Main Office)
1208 13th St N
HUMBOLDT, IA 50548
Phone:(515) 332-4096
Fax:(515) 332-2832
Website:https://www.powercoopcu.com
Branches:1 branch locations
Members:2,401
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:61920
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1956
Last Audited:Sep 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$63,789,821
CEO/Manager:Vicki Holden
Chairperson:Sandra Wurn

Call Report

  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,674,860
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 7,360,201
 Unsecured Loans 1,560,854
 Other Loans 27,844,011
 TOTAL LOANS 36,921,534
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -97,037
 Land And Building 144,761
 Other Fixed Assets 16,362
 NCUSIF Deposit 470,258
 All Other Assets 0
  TOTAL ASSETS 63,789,821
LIABILITIES & CAPITAL:  
 Dividends Payable 264,541
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 43,922
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 2,983,277
 Regular shares 27,919,749
 All Other Shares & Deposits 23,100,392
  TOTAL SHARES & DEPOSITS 54,003,418
  TOTAL LIABILITIES 54,311,881
 Regular Reserve 0
 Other Reserves 1,283,649
 Undivided Earnings 8,194,291
  TOTAL EQUITY 9,477,940
  TOTAL LIABILITIES, SHARES, & EQUITY 63,789,821
INCOME & EXPENSE  
 Loan Income 1,703,749
 Investment Income 507,796
 Other Income 132,882
 Total Employee Compensation & Benefits 514,980
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 370,781
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 130,000
 Cost of Funds 875,077
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 456,878
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