Dec, 31, 2023 — POLAM FEDERAL CREDIT UNION is a federal credit union headquartered in REDWOOD CITY, CA with 6 branch locations and about $79.56 million in total assets. Opened 51 years ago in 1973, POLAM FEDERAL CREDIT UNION has about 3,359 members and employs 20 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 |
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Address: (Main Office) | 770 Marshall St REDWOOD CITY, CA 94063-1846 |
Phone: | (650) 367-8940 |
Fax: | (650) 367-8945 |
Website: | https://www.polamfcu.com |
Branches: | 6 branch locations |
Members: | 3,359 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 21502 |
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Membership Type: | Multiple common bond - other |
Corporate Credit Union: | No |
Year Opened: | 1973 |
Last Audited: | Feb 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $79,555,539 |
CEO/Manager: | Mark Chrzanowski |
Chairperson: | Andrzej Wolny |
ASSETS: | $ Amount |
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Cash & Equivalents | 3,336,012 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 53,412,265 |
Unsecured Loans | 152,436 |
Other Loans | 11,069,807 |
TOTAL LOANS | 64,634,508 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -403,000 |
Land And Building | 5,042,226 |
Other Fixed Assets | 223,591 |
NCUSIF Deposit | 665,754 |
All Other Assets | 8,586 |
TOTAL ASSETS | 79,555,539 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 457,155 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 17,391,414 |
Regular shares | 36,110,271 |
All Other Shares & Deposits | 14,814,641 |
TOTAL SHARES & DEPOSITS | 68,316,326 |
TOTAL LIABILITIES | 68,773,481 |
Regular Reserve | 0 |
Other Reserves | 0 |
Undivided Earnings | 10,782,058 |
TOTAL EQUITY | 10,782,058 |
TOTAL LIABILITIES, SHARES, & EQUITY | 79,555,539 |
INCOME & EXPENSE | |
Loan Income | 2,406,497 |
Investment Income | 325,756 |
Other Income | 183,338 |
Total Employee Compensation & Benefits | 1,463,277 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,203,562 |
Non-operating Income & (Expense) | -5,007 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 4,782 |
Cost of Funds | 559,939 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 142,007 |
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