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POLAM FEDERAL CREDIT UNION

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
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
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

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
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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