Dec, 31, 2022 — POWERNET CREDIT UNION is a federally insured state chartered credit union headquartered in TAMPA, FL with 2 branch locations and about $112.18 million in total assets. Opened 62 years ago in 1961, POWERNET CREDIT UNION has about 3,458 members and employs 17 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | POWERNET CREDIT UNION |
|---|---|
| Address: (Main Office) | 5619 Harney Rd TAMPA, FL 33610 |
| Phone: | (813) 621-6454 |
| Fax: | (813) 769-0677 |
| Website: | https://www.powernetcu.org |
| Branches: | 2 branch locations |
| Members: | 3,458 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68042 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1961 |
| Last Audited: | Sep 01, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $112,184,248 |
| CEO/Manager: | Donald A Prue |
| Chairperson: | Jonathon E Dehmel |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 16,491,389 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 20,960,197 |
| Unsecured Loans | 1,806,387 |
| Other Loans | 13,212,940 |
| TOTAL LOANS | 35,979,524 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -204,694 |
| Land And Building | 1,141,900 |
| Other Fixed Assets | 91,920 |
| NCUSIF Deposit | 798,897 |
| All Other Assets | 0 |
| TOTAL ASSETS | 112,184,248 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 271,057 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 23,018,898 |
| Regular shares | 23,627,171 |
| All Other Shares & Deposits | 55,909,975 |
| TOTAL SHARES & DEPOSITS | 102,556,044 |
| TOTAL LIABILITIES | 102,827,101 |
| Regular Reserve | 0 |
| Other Reserves | 1,434,149 |
| Undivided Earnings | 7,922,998 |
| TOTAL EQUITY | 9,357,147 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 112,184,248 |
| INCOME & EXPENSE | |
| Loan Income | 1,167,932 |
| Investment Income | 469,026 |
| Other Income | 125,551 |
| Total Employee Compensation & Benefits | 848,940 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 709,487 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 241,946 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 237,658 |
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