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POLAM FEDERAL CREDIT UNION

Sep, 30, 2022 — 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

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
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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