Mar, 31, 2021 — PEN AIR FEDERAL CREDIT UNION is a federal credit union headquartered in Pensacola, FL with 15 branch locations and about $2.28 billion in total assets. Opened 85 years ago in 1936, PEN AIR FEDERAL CREDIT UNION has about 116,593 members and employs 342 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | PEN AIR FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1495 E Nine Mile Rd Pensacola, FL 32514-5723 |
| Phone: | (850) 505-3200 |
| Fax: | (850) 317-8389 |
| Website: | https://www.penair.org |
| Branches: | 15 branch locations |
| Members: | 116,593 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 1303 |
|---|---|
| Membership Type: | Multiple common bond - Primarily military |
| Corporate Credit Union: | No |
| Year Opened: | 1936 |
| Last Audited: | Dec 01, 2020 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $2,278,090,528 |
| CEO/Manager: | Delbert L Morgan |
| Chairperson: | Robert Jacobson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 388,926,592 |
| TOTAL INVESTMENTS | 751,370,859 |
| Loans Held for Sale | 5,974,974 |
| Real Estate Loans | 283,087,498 |
| Unsecured Loans | 102,299,334 |
| Other Loans | 665,664,586 |
| TOTAL LOANS | 1,053,501,535 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -14,994,470 |
| Land And Building | 47,069,482 |
| Other Fixed Assets | 8,670,407 |
| NCUSIF Deposit | 15,023,494 |
| All Other Assets | 22,547,655 |
| TOTAL ASSETS | 2,278,090,528 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 981 |
| Notes & Interest Payable | 40,059,006 |
| Accounts Payable & Other Liabilities | 19,155,842 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 329,741,794 |
| Regular shares | 874,821,491 |
| All Other Shares & Deposits | 787,632,523 |
| TOTAL SHARES & DEPOSITS | 1,992,195,808 |
| TOTAL LIABILITIES | 2,051,411,637 |
| Regular Reserve | 35,506,241 |
| Other Reserves | -3,993,896 |
| Undivided Earnings | 195,166,546 |
| TOTAL EQUITY | 226,678,891 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 2,278,090,528 |
| INCOME & EXPENSE | |
| Loan Income | 13,732,730 |
| Investment Income | 1,679,555 |
| Other Income | 2,666,241 |
| Total Employee Compensation & Benefits | 6,648,560 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 6,653,716 |
| Non-operating Income & (Expense) | 1,315,895 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 2,203,160 |
| Cost of Funds | 3,642,763 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 3,722,047 |
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