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POLAM FEDERAL CREDIT UNION

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

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 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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