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POWER ONE FEDERAL CREDIT UNION

Mar, 31, 2021 — POWER ONE FEDERAL CREDIT UNION is a federal credit union headquartered in Fort Wayne, IN with 5 branch locations and about $18.84 million in total assets. Opened 86 years ago in 1935, POWER ONE FEDERAL CREDIT UNION has about 1,500 members and employs 8 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) 421-1545
Website:http://poweronefcu.org
Branches:5 branch locations
Members:1,500
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, 2020
FHLB Member:No
Low Income Designation:No
Assets:$18,840,686
CEO/Manager:Brett A Cain
Chairperson:Wally Vandagriff

Call Report

  • Real Estate Loans
  • Risk Based Loans
  • ATM/Debit Card Program
  • Check Cashing
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 3,297,388
TOTAL INVESTMENTS 4,261,896
Loans Held for Sale 0
 
 Real Estate Loans 4,436,973
 Unsecured Loans 2,172,131
 Other Loans 4,536,792
 TOTAL LOANS 11,145,896
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -171,422
 Land And Building 35,392
 Other Fixed Assets 9,024
 NCUSIF Deposit 148,966
 All Other Assets 113,546
  TOTAL ASSETS 18,840,686
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 32,079
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 3,966,597
 Regular shares 10,588,887
 All Other Shares & Deposits 2,198,203
  TOTAL SHARES & DEPOSITS 16,753,687
  TOTAL LIABILITIES 16,785,766
 Regular Reserve 193,880
 Other Reserves 0
 Undivided Earnings 1,861,040
  TOTAL EQUITY 2,054,920
  TOTAL LIABILITIES, SHARES, & EQUITY 18,840,686
INCOME & EXPENSE  
 Loan Income 145,900
 Investment Income 13,959
 Other Income 23,601
 Total Employee Compensation & Benefits 86,551
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 70,143
 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 6,178
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 23,852
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