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POWER ONE FEDERAL CREDIT UNION

Dec, 31, 2021 — POWER ONE FEDERAL CREDIT UNION is a federal credit union headquartered in FORT WAYNE, IN with 5 branch locations and about $18.29 million in total assets. Opened 87 years ago in 1935, POWER ONE FEDERAL CREDIT UNION has about 1,469 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:http://poweronefcu.org
Branches:5 branch locations
Members:1,469
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:$18,286,907
CEO/Manager:Brett A Cain
Chairperson:Wally Vandagriff

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 2,456,591
TOTAL INVESTMENTS 2,767,896
Loans Held for Sale 0
 
 Real Estate Loans 5,338,245
 Unsecured Loans 2,257,743
 Other Loans 5,321,774
 TOTAL LOANS 12,917,762
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -182,398
 Land And Building 33,526
 Other Fixed Assets 41,495
 NCUSIF Deposit 148,966
 All Other Assets 103,069
  TOTAL ASSETS 18,286,907
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 32,400
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 3,696,212
 Regular shares 10,007,709
 All Other Shares & Deposits 2,300,540
  TOTAL SHARES & DEPOSITS 16,004,461
  TOTAL LIABILITIES 16,036,861
 Regular Reserve 193,880
 Other Reserves 0
 Undivided Earnings 2,056,166
  TOTAL EQUITY 2,250,046
  TOTAL LIABILITIES, SHARES, & EQUITY 18,286,907
INCOME & EXPENSE  
 Loan Income 614,741
 Investment Income 45,398
 Other Income 93,975
 Total Employee Compensation & Benefits 358,544
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 295,423
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 9,500
 Cost of Funds 26,541
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 218,978
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