Jun, 30, 2024 — POWER ONE FEDERAL CREDIT UNION is a federal credit union headquartered in FORT WAYNE, IN with 5 branch locations and about $19.99 million in total assets. Opened 90 years ago in 1935, POWER ONE FEDERAL CREDIT UNION has about 1,453 members and employs 6 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://poweronefcu.org |
| Branches: | 5 branch locations |
| Members: | 1,453 |
| 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: | Dec 01, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $19,990,977 |
| CEO/Manager: | Brett A Cain |
| Chairperson: | Wally Vandagriff |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 602,013 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 6,255,554 |
| Unsecured Loans | 2,480,155 |
| Other Loans | 6,207,445 |
| TOTAL LOANS | 14,943,154 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -182,403 |
| Land And Building | 34,398 |
| Other Fixed Assets | 36,182 |
| NCUSIF Deposit | 159,883 |
| All Other Assets | 0 |
| TOTAL ASSETS | 19,990,977 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 1,170,932 |
| Accounts Payable & Other Liabilities | 69,521 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 3,838,690 |
| Regular shares | 10,482,003 |
| All Other Shares & Deposits | 2,041,373 |
| TOTAL SHARES & DEPOSITS | 16,362,066 |
| TOTAL LIABILITIES | 17,602,519 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 2,388,458 |
| TOTAL EQUITY | 2,388,458 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 19,990,977 |
| INCOME & EXPENSE | |
| Loan Income | 494,577 |
| Investment Income | 41,822 |
| Other Income | 66,917 |
| Total Employee Compensation & Benefits | 260,503 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 236,773 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 22,774 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 138,414 |
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