Dec, 31, 2023 — POWERNET CREDIT UNION is a federally insured state chartered credit union headquartered in TAMPA, FL with 2 branch locations and about $111.12 million in total assets. Opened 63 years ago in 1961, POWERNET CREDIT UNION has about 3,404 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: | 3,404 |
| 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, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $111,117,420 |
| CEO/Manager: | Donald A Prue |
| Chairperson: | Shawn P McDonnell |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 23,399,082 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 20,637,288 |
| Unsecured Loans | 1,990,723 |
| Other Loans | 12,761,351 |
| TOTAL LOANS | 35,389,362 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -224,770 |
| Land And Building | 1,065,955 |
| Other Fixed Assets | 155,144 |
| NCUSIF Deposit | 781,137 |
| All Other Assets | 0 |
| TOTAL ASSETS | 111,117,420 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 485,404 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 22,280,089 |
| Regular shares | 21,585,052 |
| All Other Shares & Deposits | 56,688,052 |
| TOTAL SHARES & DEPOSITS | 100,553,193 |
| TOTAL LIABILITIES | 101,038,597 |
| Regular Reserve | 0 |
| Other Reserves | 1,434,149 |
| Undivided Earnings | 8,644,674 |
| TOTAL EQUITY | 10,078,823 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 111,117,420 |
| INCOME & EXPENSE | |
| Loan Income | 1,716,675 |
| Investment Income | 1,566,173 |
| Other Income | 191,949 |
| Total Employee Compensation & Benefits | 1,214,844 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 995,298 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -3,608 |
| Cost of Funds | 1,010,855 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 608,980 |
| ↑ Back to Top | |