Jun, 30, 2024 — 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.
| Name: | POWERCO FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 241 Ralph McGill Blvd NE ATLANTA, GA 30308-3374 |
| 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 |
| 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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