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EMPOWER FEDERAL CREDIT UNION

Jun, 30, 2024 — EMPOWER FEDERAL CREDIT UNION is a federal credit union headquartered in SYRACUSE, NY with 28 branch locations and about $3.04 billion in total assets. Opened 86 years ago in 1939, EMPOWER FEDERAL CREDIT UNION has about 247,131 members and employs 625 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 221380127
Name:EMPOWER FEDERAL CREDIT UNION
Address:
(Main Office)
1 Member Way
SYRACUSE, NY 13212
Phone:(315) 477-2200
Fax:
Website:https://www.empowerfcu.com
Branches:28 branch locations
Members:247,131
Credit Union Type:Federal Credit Union
Charter Number:3025
Membership Type:Multiple common bond - Primarily communications and utilities
Corporate Credit Union:No
Year Opened:1939
Last Audited:Dec 01, 2021
FHLB Member:Yes
Low Income Designation:No
Assets:$3,040,144,235
CEO/Manager:Brenda Carhart
Chairperson:Patrick Piscitelli

Call Report

  • Credit Builder
  • First Time Homebuyer Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 119,738,745
TOTAL INVESTMENTS 0
Loans Held for Sale 723,030
 
 Real Estate Loans 1,308,779,195
 Unsecured Loans 204,591,582
 Other Loans 830,666,228
 TOTAL LOANS 2,344,183,080
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -31,881,636
 Land And Building 31,792,683
 Other Fixed Assets 9,238,943
 NCUSIF Deposit 23,513,844
 All Other Assets 332,092
  TOTAL ASSETS 3,040,144,235
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 100,000,000
 Accounts Payable & Other Liabilities 40,068,993
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 529,529,629
 Regular shares 903,878,324
 All Other Shares & Deposits 1,221,984,060
  TOTAL SHARES & DEPOSITS 2,655,392,013
  TOTAL LIABILITIES 2,795,461,006
 Regular Reserve 0
 Other Reserves -43,442,710
 Undivided Earnings 288,125,939
  TOTAL EQUITY 244,683,229
  TOTAL LIABILITIES, SHARES, & EQUITY 3,040,144,235
INCOME & EXPENSE  
 Loan Income 72,960,796
 Investment Income 6,528,748
 Other Income 14,634,669
 Total Employee Compensation & Benefits 39,063,744
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 41,814,023
 Non-operating Income & (Expense) -633,018
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 5,852,072
 Cost of Funds 7,729,465
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 27,131,515
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