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National Credit Union Service Organization

POWERNET CREDIT UNION

Jun, 30, 2021 — POWERNET CREDIT UNION is a federally insured state chartered credit union headquartered in TAMPA, FL with 2 branch locations and about $106.43 million in total assets. Opened 60 years ago in 1961, POWERNET CREDIT UNION has about 3,649 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:3,649
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:$106,428,419
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 21,624,724
TOTAL INVESTMENTS 45,476,301
Loans Held for Sale 0
 
 Real Estate Loans 22,212,883
 Unsecured Loans 2,706,223
 Other Loans 11,612,352
 TOTAL LOANS 36,531,458
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -249,848
 Land And Building 1,227,066
 Other Fixed Assets 123,625
 NCUSIF Deposit 745,062
 All Other Assets 950,031
  TOTAL ASSETS 106,428,419
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 312,977
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 21,110,290
 Regular shares 21,870,336
 All Other Shares & Deposits 54,440,052
  TOTAL SHARES & DEPOSITS 97,420,678
  TOTAL LIABILITIES 97,733,655
 Regular Reserve 1,434,149
 Other Reserves 0
 Undivided Earnings 7,260,615
  TOTAL EQUITY 8,694,764
  TOTAL LIABILITIES, SHARES, & EQUITY 106,428,419
INCOME & EXPENSE  
 Loan Income 878,637
 Investment Income 123,570
 Other Income 48,460
 Total Employee Compensation & Benefits 592,457
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 496,465
 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 143,038
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 1,009
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