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 |
| 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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