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POWERCO FEDERAL CREDIT UNION

Dec, 31, 2023 — POWERCO FEDERAL CREDIT UNION is a federal credit union headquartered in ATLANTA, GA with 8 branch locations and about $200.65 million in total assets. Opened 89 years ago in 1935, POWERCO FEDERAL CREDIT UNION has about 16,188 members and employs 32 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: 261071551
Name:POWERCO FEDERAL CREDIT UNION
Address:
(Main Office)
241 RALPH MCGILL BLVD, NE
ATLANTA, GA 30308
Phone:(404) 506-3750
Fax:(404) 506-3787
Website:https://www.powerco.org
Branches:8 branch locations
Members:16,188
Credit Union Type:Federal Credit Union
Charter Number:359
Membership Type:Multiple common bond - Primarily communications and utilities
Corporate Credit Union:No
Year Opened:1935
Last Audited:Dec 01, 2021
FHLB Member:No
Low Income Designation:No
Assets:$200,649,631
CEO/Manager:Daniel L Blalock
Chairperson:Janet S Katzenberger

Call Report

  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 36,779,083
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 54,562,327
 Unsecured Loans 4,638,139
 Other Loans 27,379,345
 TOTAL LOANS 86,579,811
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -206,439
 Land And Building 413,552
 Other Fixed Assets 73,351
 NCUSIF Deposit 1,501,729
 All Other Assets 0
  TOTAL ASSETS 200,649,631
LIABILITIES & CAPITAL:  
 Dividends Payable 27
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 928,717
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 37,689,644
 Regular shares 83,244,291
 All Other Shares & Deposits 59,291,933
  TOTAL SHARES & DEPOSITS 180,225,868
  TOTAL LIABILITIES 181,154,612
 Regular Reserve 0
 Other Reserves -4,815,637
 Undivided Earnings 24,310,656
  TOTAL EQUITY 19,495,019
  TOTAL LIABILITIES, SHARES, & EQUITY 200,649,631
INCOME & EXPENSE  
 Loan Income 2,394,478
 Investment Income 889,650
 Other Income 239,262
 Total Employee Compensation & Benefits 2,169,983
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,463,666
 Non-operating Income & (Expense) -4,650
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 270,082
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 664,746
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