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 |
| 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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