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POWERNET CREDIT UNION

Dec, 31, 2021 — POWERNET CREDIT UNION is a federally insured state chartered credit union headquartered in TAMPA, FL with 2 branch locations and about $109.75 million in total assets. Opened 61 years ago in 1961, POWERNET CREDIT UNION has about 3,579 members and employs 16 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:http://www.powernetcu.org
Branches:2 branch locations
Members:3,579
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:$109,751,011
CEO/Manager:Donald A Prue
Chairperson:Jonathon E Dehmel

Call Report

  • First Time Homebuyer Program
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 17,012,235
TOTAL INVESTMENTS 53,143,228
Loans Held for Sale 0
 
 Real Estate Loans 21,145,433
 Unsecured Loans 2,298,027
 Other Loans 12,827,033
 TOTAL LOANS 36,270,493
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -245,561
 Land And Building 1,193,000
 Other Fixed Assets 107,539
 NCUSIF Deposit 786,635
 All Other Assets 1,483,442
  TOTAL ASSETS 109,751,011
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 267,373
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 21,591,492
 Regular shares 23,768,755
 All Other Shares & Deposits 55,003,901
  TOTAL SHARES & DEPOSITS 100,364,148
  TOTAL LIABILITIES 100,631,521
 Regular Reserve 1,434,149
 Other Reserves 0
 Undivided Earnings 7,685,341
  TOTAL EQUITY 9,119,490
  TOTAL LIABILITIES, SHARES, & EQUITY 109,751,011
INCOME & EXPENSE  
 Loan Income 1,731,371
 Investment Income 275,006
 Other Income 118,925
 Total Employee Compensation & Benefits 823,002
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 892,513
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 3,000
 Cost of Funds 370,306
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 425,734
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