Jun, 30, 2021 — POLAM FEDERAL CREDIT UNION is a federal credit union headquartered in REDWOOD CITY, CA with 5 branch locations and about $88.46 million in total assets. Opened 48 years ago in 1973, POLAM FEDERAL CREDIT UNION has about 3,184 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 |
|---|---|
| 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: | 3,184 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 21502 |
|---|---|
| Membership Type: | Multiple common bond - other |
| Corporate Credit Union: | No |
| Year Opened: | 1973 |
| Last Audited: | Feb 01, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $88,456,526 |
| CEO/Manager: | Mark Chrzanowski |
| Chairperson: | Andrzej Wolny |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 20,628,640 |
| TOTAL INVESTMENTS | 10,273,856 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 47,650,949 |
| Unsecured Loans | 77,731 |
| Other Loans | 3,862,937 |
| TOTAL LOANS | 51,591,617 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -436,000 |
| Land And Building | 4,599,786 |
| Other Fixed Assets | 176,314 |
| NCUSIF Deposit | 638,088 |
| All Other Assets | 984,225 |
| TOTAL ASSETS | 88,456,526 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 248,187 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 19,908,733 |
| Regular shares | 45,573,289 |
| All Other Shares & Deposits | 12,498,062 |
| TOTAL SHARES & DEPOSITS | 77,980,084 |
| TOTAL LIABILITIES | 78,228,271 |
| Regular Reserve | 1,605,000 |
| Other Reserves | 0 |
| Undivided Earnings | 8,623,255 |
| TOTAL EQUITY | 10,228,255 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 88,456,526 |
| INCOME & EXPENSE | |
| Loan Income | 988,271 |
| Investment Income | 106,693 |
| Other Income | 61,213 |
| Total Employee Compensation & Benefits | 583,094 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 554,464 |
| Non-operating Income & (Expense) | -2,703 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 414 |
| Cost of Funds | 94,151 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 136,232 |
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