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POLAM FEDERAL CREDIT UNION

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

Call Report

  • Commercial Loans
  • Overdraft Lines of Credit
  • Participation Loans
  • Real Estate Loans
  • Share Secured Credit Cards
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • Health Savings Accounts
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
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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