Sep, 30, 2025 — POWER ONE FEDERAL CREDIT UNION is a federal credit union headquartered in FORT WAYNE, IN with 5 branch locations and about $17.91 million in total assets. Opened 91 years ago in 1935, POWER ONE FEDERAL CREDIT UNION has about 1,289 members and employs 7 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | POWER ONE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1520 Spy Run Ave FORT WAYNE, IN 46805-4031 |
| Phone: | (260) 425-2324 |
| Fax: | (260) 421-1565 |
| Website: | https://www.poweronefcu.org |
| Branches: | 5 branch locations |
| Members: | 1,289 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 620 |
|---|---|
| Membership Type: | Multiple common bond - Primarily communications and utilities |
| Corporate Credit Union: | No |
| Year Opened: | 1935 |
| Last Audited: | Sep 01, 2024 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $17,905,736 |
| CEO/Manager: | Kevin Turnbow |
| Chairperson: | Wally Vandagriff |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 778,495 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 6,709,114 |
| Unsecured Loans | 3,118,402 |
| Other Loans | 6,093,362 |
| TOTAL LOANS | 15,920,878 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -159,119 |
| Land And Building | 38,232 |
| Other Fixed Assets | 59,513 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 145,570 |
| All Other Assets | 0 |
| TOTAL ASSETS | 17,905,736 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 62,212 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 2,834,045 |
| Regular shares | 7,599,285 |
| All Other Shares & Deposits | 4,556,033 |
| TOTAL SHARES & DEPOSITS | 14,989,363 |
| TOTAL LIABILITIES | 15,051,575 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 2,854,161 |
| TOTAL EQUITY | 2,854,161 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 17,905,736 |
| INCOME & EXPENSE | |
| Loan Income | 725,966 |
| Investment Income | 54,523 |
| Other Income | 60,419 |
| Total Employee Compensation & Benefits | 420,568 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 293,969 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 7,000 |
| Cost of Funds | 131,079 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 19,818 |
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