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POWERNET CREDIT UNION

Mar, 31, 2021 — POWERNET CREDIT UNION is a federally insured state chartered credit union headquartered in TAMPA, FL with 2 branch locations and about $105.93 million in total assets. Opened 60 years ago in 1961, POWERNET CREDIT UNION has about 3,671 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:http://www.powernetcu.org
Branches:2 branch locations
Members:3,671
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, 2020
FHLB Member:No
Low Income Designation:No
Assets:$105,934,056
CEO/Manager:Donald A Prue
Chairperson:Jonathon E Dehmel

Call Report

  • Commercial Loans
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • ATM/Debit Card Program
  • First Time Homebuyer Program
  • Insurance/Investment Sales
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 19,986,125
TOTAL INVESTMENTS 45,430,402
Loans Held for Sale 0
 
 Real Estate Loans 23,060,860
 Unsecured Loans 3,074,883
 Other Loans 11,649,683
 TOTAL LOANS 37,785,426
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -255,305
 Land And Building 1,244,099
 Other Fixed Assets 130,847
 NCUSIF Deposit 716,731
 All Other Assets 895,731
  TOTAL ASSETS 105,934,056
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 387,219
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 21,269,568
 Regular shares 20,744,320
 All Other Shares & Deposits 54,817,962
  TOTAL SHARES & DEPOSITS 96,831,850
  TOTAL LIABILITIES 97,219,069
 Regular Reserve 1,434,149
 Other Reserves 0
 Undivided Earnings 7,280,838
  TOTAL EQUITY 8,714,987
  TOTAL LIABILITIES, SHARES, & EQUITY 105,934,056
INCOME & EXPENSE  
 Loan Income 446,226
 Investment Income 75,901
 Other Income 24,118
 Total Employee Compensation & Benefits 295,041
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 215,077
 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 103,849
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 21,232
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