Dec, 31, 2023 — EMPOWER FEDERAL CREDIT UNION is a federal credit union headquartered in SYRACUSE, NY with 28 branch locations and about $3.50 billion in total assets. Opened 85 years ago in 1939, EMPOWER FEDERAL CREDIT UNION has about 261,414 members and employs 647 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| 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: | 261,414 |
| 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, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $3,498,326,819 |
| CEO/Manager: | Ryan McIntyre |
| Chairperson: | Patrick Piscitelli |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 313,136,994 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 373,152 |
| Real Estate Loans | 1,589,327,433 |
| Unsecured Loans | 221,697,814 |
| Other Loans | 851,401,795 |
| TOTAL LOANS | 2,665,721,393 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -33,450,464 |
| Land And Building | 29,884,256 |
| Other Fixed Assets | 9,480,305 |
| NCUSIF Deposit | 26,745,972 |
| All Other Assets | 374,641 |
| TOTAL ASSETS | 3,498,326,819 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 15 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 58,228,485 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 500,717,836 |
| Regular shares | 796,029,208 |
| All Other Shares & Deposits | 1,856,529,815 |
| TOTAL SHARES & DEPOSITS | 3,153,276,860 |
| TOTAL LIABILITIES | 3,213,922,126 |
| Regular Reserve | 0 |
| Other Reserves | -32,831,285 |
| Undivided Earnings | 317,235,978 |
| TOTAL EQUITY | 284,404,693 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 3,498,326,819 |
| INCOME & EXPENSE | |
| Loan Income | 133,514,565 |
| Investment Income | 23,558,384 |
| Other Income | 18,299,752 |
| Total Employee Compensation & Benefits | 64,317,597 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 61,686,834 |
| Non-operating Income & (Expense) | -635,255 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 9,678,793 |
| Cost of Funds | 51,185,650 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 29,023,213 |
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