Dec, 31, 2021 — POLAM FEDERAL CREDIT UNION is a federal credit union headquartered in REDWOOD CITY, CA with 5 branch locations and about $91.84 million in total assets. Opened 49 years ago in 1973, POLAM FEDERAL CREDIT UNION has about 3,174 members and employs 17 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: | http://www.polamfcu.com |
Branches: | 5 branch locations |
Members: | 3,174 |
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: | Oct 01, 2021 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $91,841,799 |
CEO/Manager: | Mark Chrzanowski |
Chairperson: | Andrzej Wolny |
ASSETS: | $ Amount |
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Cash & Equivalents | 19,655,999 |
TOTAL INVESTMENTS | 9,925,856 |
Loans Held for Sale | 0 |
Real Estate Loans | 52,474,589 |
Unsecured Loans | 100,853 |
Other Loans | 3,811,443 |
TOTAL LOANS | 56,386,885 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -436,000 |
Land And Building | 5,223,644 |
Other Fixed Assets | 171,992 |
NCUSIF Deposit | 672,190 |
All Other Assets | 241,233 |
TOTAL ASSETS | 91,841,799 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 202,672 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 18,429,919 |
Regular shares | 50,304,407 |
All Other Shares & Deposits | 12,515,580 |
TOTAL SHARES & DEPOSITS | 81,249,906 |
TOTAL LIABILITIES | 81,452,578 |
Regular Reserve | 1,605,000 |
Other Reserves | 0 |
Undivided Earnings | 8,784,221 |
TOTAL EQUITY | 10,389,221 |
TOTAL LIABILITIES, SHARES, & EQUITY | 91,841,799 |
INCOME & EXPENSE | |
Loan Income | 2,053,163 |
Investment Income | 203,431 |
Other Income | 151,755 |
Total Employee Compensation & Benefits | 1,251,170 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,124,034 |
Non-operating Income & (Expense) | -5,123 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 387 |
Cost of Funds | 179,490 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 297,199 |
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