Dec, 31, 2020 — POLAM FEDERAL CREDIT UNION is a federal credit union headquartered in REDWOOD CITY, CA with 5 branch locations and about $82.89 million in total assets. Opened 48 years ago in 1973, POLAM FEDERAL CREDIT UNION has about 3,238 members and employs 18 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: | Oct 01, 2019 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $82,887,120 |
| CEO/Manager: | Mark Chrzanowski |
| Chairperson: | Andrzej Wolny |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 13,436,863 |
| TOTAL INVESTMENTS | 11,003,433 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 48,175,236 |
| Unsecured Loans | 106,396 |
| Other Loans | 4,536,715 |
| TOTAL LOANS | 52,818,347 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -436,000 |
| Land And Building | 4,642,458 |
| Other Fixed Assets | 145,409 |
| NCUSIF Deposit | 602,028 |
| All Other Assets | 674,582 |
| TOTAL ASSETS | 82,887,120 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 182,502 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 17,225,879 |
| Regular shares | 40,788,828 |
| All Other Shares & Deposits | 14,597,888 |
| TOTAL SHARES & DEPOSITS | 72,612,595 |
| TOTAL LIABILITIES | 72,795,097 |
| Regular Reserve | 1,605,000 |
| Other Reserves | 0 |
| Undivided Earnings | 8,487,023 |
| TOTAL EQUITY | 10,092,023 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 82,887,120 |
| INCOME & EXPENSE | |
| Loan Income | 1,986,712 |
| Investment Income | 298,352 |
| Other Income | 558,308 |
| Total Employee Compensation & Benefits | 1,163,726 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,035,570 |
| Non-operating Income & (Expense) | 10,927 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 13,558 |
| Cost of Funds | 335,500 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 305,945 |
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