Mar, 31, 2021 — POLAM FEDERAL CREDIT UNION is a federal credit union headquartered in REDWOOD CITY, CA with 5 branch locations and about $85.92 million in total assets. Opened 48 years ago in 1973, POLAM FEDERAL CREDIT UNION has about 3,238 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: | 3,238 |
| 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: | $85,920,143 |
| CEO/Manager: | Mark Chrzanowski |
| Chairperson: | Andrzej Wolny |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 18,549,783 |
| TOTAL INVESTMENTS | 11,004,433 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 47,375,186 |
| Unsecured Loans | 82,999 |
| Other Loans | 3,084,488 |
| TOTAL LOANS | 50,542,673 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -436,002 |
| Land And Building | 4,621,122 |
| Other Fixed Assets | 195,329 |
| NCUSIF Deposit | 602,028 |
| All Other Assets | 840,777 |
| TOTAL ASSETS | 85,920,143 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 252,160 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 20,261,866 |
| Regular shares | 42,071,730 |
| All Other Shares & Deposits | 13,174,236 |
| TOTAL SHARES & DEPOSITS | 75,507,832 |
| TOTAL LIABILITIES | 75,759,992 |
| Regular Reserve | 1,605,000 |
| Other Reserves | 0 |
| Undivided Earnings | 8,555,151 |
| TOTAL EQUITY | 10,160,151 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 85,920,143 |
| INCOME & EXPENSE | |
| Loan Income | 492,147 |
| Investment Income | 54,392 |
| Other Income | 26,809 |
| Total Employee Compensation & Benefits | 292,166 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 267,411 |
| Non-operating Income & (Expense) | -1,689 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 68 |
| Cost of Funds | 49,020 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 68,128 |
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