Jun, 30, 2023 — POLAM FEDERAL CREDIT UNION is a federal credit union headquartered in REDWOOD CITY, CA with 5 branch locations and about $93.64 million in total assets. Opened 50 years ago in 1973, POLAM FEDERAL CREDIT UNION has about 3,187 members and employs 19 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: | https://www.polamfcu.com |
| Branches: | 5 branch locations |
| Members: | 3,187 |
| 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: | $93,644,988 |
| CEO/Manager: | Mark Chrzanowski |
| Chairperson: | Andrzej Wolny |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 12,792,811 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 53,315,127 |
| Unsecured Loans | 123,529 |
| Other Loans | 11,066,239 |
| TOTAL LOANS | 64,504,895 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -435,000 |
| Land And Building | 5,154,376 |
| Other Fixed Assets | 163,286 |
| NCUSIF Deposit | 736,029 |
| All Other Assets | 8,586 |
| TOTAL ASSETS | 93,644,988 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 430,121 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 18,569,505 |
| Regular shares | 52,158,435 |
| All Other Shares & Deposits | 11,889,379 |
| TOTAL SHARES & DEPOSITS | 82,617,319 |
| TOTAL LIABILITIES | 83,047,440 |
| Regular Reserve | 0 |
| Other Reserves | 1,605,000 |
| Undivided Earnings | 8,992,548 |
| TOTAL EQUITY | 10,597,548 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 93,644,988 |
| INCOME & EXPENSE | |
| Loan Income | 1,631,542 |
| Investment Income | 164,632 |
| Other Income | 98,767 |
| Total Employee Compensation & Benefits | 992,542 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 894,232 |
| Non-operating Income & (Expense) | -3,792 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 445 |
| Cost of Funds | 133,844 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 208,326 |
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