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National Credit Union Service Organization

POWERNET CREDIT UNION
— Statement of Financial Condition

Then NCUA provides quarterly Call Reports using accounting and statistical information from each credit union. The Call Report includes Balance Sheet, Income Statement and more.

Statement of financial condition for POWERNET CREDIT UNION as of: June 30, 2023.
Charter Number: 68042

ASSETS$ Amount
CASH:  
 1. Cash on Hand 528,009
 2. Cash on Deposit (Amounts Deposited in Financial Institutions) 15,963,380
 3. Cash Equivalents (Investments with Original Maturities of Three Months or Less) 0
INVESTMENTS:  
 4. Equity Securities 0
 5. Trading Debut Securities 0
 6. Available-for-Sale Debt Securities 0
 7. Held-to-Maturity Debt Securities 50,782,891
 8. Deposits in commercial banks, S&Ls, savings banks 0
 9. Loans to and investments in natural person credit unions 0
 10. Nonperpetual Capital Account 0
 11. Perpetual Contributed Capital 652,150
 12. All other investments in corporate credit unions 0
 13. All other investments 0
 14. TOTAL INVESTMENTS 0
LOANS HELD FOR SALE:  
 15. Loans Held for Sale 0
LOANS AND LEASES:  
 16. TOTAL LOANS & LEASES 35,979,524
 17. Less: Allowance for Loan & Lease Losses 204,694
 18: Less: Allowance for Credit Losses on Loans & Leases 0
OTHER ASSETS:  
 19. Foreclosed and Repossessed Assets 0
 20. Land and Building 1,141,900
 21. Other Fixed Assets 91,920
 22. NCUA Share Insurance Capitalization Deposit 798,897
 23. Intangible Assets 0
 24. Other Assets 0
25. TOTAL ASSETS 112,184,248
LIABILITIES$ Amount
 1. Draws Against Lines of Credit 0
 2. Other Notes, Promissory Notes and Interest Payable 0
 3. Borrowing Repurchase Transactions 0
 4. Subordinated Debt 0
 5. Subordinated Debt included in Net Worth 0
 6. TOTALS 0
 7. Non-Trading Derivative Liabilities 0
 8. Accrued Dividends & Interest Payable on Shares & Deposits 0
 9. Accounts Payable and Other Liabilities 271,057
 10. Allowance for Credit Losses on Off-Balance Sheet Credit Exposures 0
SHARES/DEPOSITS:  
 11. Share Drafts 23,018,898
 12. Regular Shares 23,627,171
 13. Money Market Shares 25,209,755
 14. Share Certificates 14,283,876
 15. IRA/KEOGH Accounts 15,411,267
 16. All Other Shares 1,005,077
 17. TOTAL SHARES 102,556,044
 18. Nonmember Deposits 0
 19. TOTAL SHARES AND DEPOSITS 102,556,044
20. TOTAL LIABILITIES  
 21. Accounts Held by Member Public Units 0
 22. Accounts Held by Nonmember Public Units 0
 23. Employee Benefit Member Shares 0
 24. Employee Benefit Nonmember Shares 0
 25. 529 Plan Member Deposits 0
 26. Non-dollar denominated deposits 0
 27. Health Savings Account 0
 28. Dollar Amount of Share Certificates equal to or greater than $100,000 (Excluding brokered share certificates participated out by the broker in shares of less than $100,000) 8,084,283
 29. Dollar Amount of IRA/Keogh Accounts equal to or greater than $100,000 1,818,938
 30. Dollar Amount of Share Drafts Swept to Regular Shares or Money Market Accts as part of Sweep Program 0
 31. Dollar Amount of Commercial Share Accounts 533,609
 32. Negative Shares Included in All Other Unsecured Loans/Lines of Credit 2,136
EQUITY:  
 33. Undivided Earnings 7,685,340
 34. Regular Reserves 0
 35. Appropriation for Non-Conforming Investments (State Credit Unions ONLY) 0
 36. Other Reserves.(Appropriations of Undivided Earnings) 1,434,149
 37. Equity Acquired in Merger 0
 38. Miscellaneous Equity 0
 39. Other Comprehensive Income (not already included in items 40 - 43) 0
 40. Accumulated Unrealized Net Gains (Losses) on Cash Flow Hedges 0
 41. Accumulated Unrealized Gains (Losses) on Available for Sale Debt Securities 0
 42. Accumulated Unrealized Losses for OTTI (Due to Other Factors) on HTM Debt Securities 0
 43. Net Income (unless this amount is already included in Undivided Earnings) 237,658
44. TOTAL LIABILITIES, SHARES, AND EQUITY 112,184,248
Statement of Income & Expense$ Amount
INTEREST INCOME YEAR-TO-DATE FOR THE CYCLE  
 1. Interest on Loans (Gross-before interest refunds) 1,167,932
 2. (Less) Interest Refunded 0
 3. Income from Investments (Including Interest and Dividends, excluding securities held in a trading account) 469,026
 4. Unrealized Gain (Loss) due to change in fair value of Equity and Trading Debt Securities 0
 5. TOTAL INTEREST INCOME 1,636,958
INTEREST EXPENSE YEAR-TO-DATE FOR THE CYCLE  
 6. Dividends on Shares (Includes dividends earned during current period) 52,758
 7. Interest on Deposits (Total interest expense for deposit accounts) (State Credit Union ONLY) 189,173
 8. Interest on Borrowed Money 15
 9. TOTAL INTEREST EXPENSE 241,946
 10. Provision for Loan & Lease Losses 0
 11. Total Credit Loss Expense 0
 12. NET INTEREST INCOME AFTER PROVISION FOR LOAN AND LEASE LOSSES or CREDIT LOSS EXPENSE 0
NON-INTEREST INCOME YEAR-TO-DATE FOR THE CYCLE  
 13. Fee Income 125,551
 14. Other Operating Income (Includes unconsolidated CUSO Income and Gain (Loss) associated with the Hedged Item (NonInvestment Assets) in a Non-Trading, Fair Value (FV) Derivatives Hedge) 0
 15. Gain (Loss) on Equity Securities (DO NOT include Gain (Loss) on other securities) 0
 16. Gain (Loss) on Other Securities (DO NOT include Gain or Loss on Equity Securities) 0
 17. Gain (Loss) on Non-Trading Derivatives 0
 18. Gain (Loss) on Disposition of Fixed Assets 0
 19. Gain from Bargain Purchase (Merger) 0
 20. Other Non-operating Income (Expense) 0
 21. TOTAL NON-INTEREST INCOME 401,073
NON-INTEREST EXPENSE YEAR-TO-DATE FOR THE CYCLE  
 22. Total Employee Compensation and Benefits 848,940
 23. Travel and Conference Expense 2,422
 24. Office Occupancy Expense 96,526
 25. Office Operations Expense 153,134
 26. Educational and Promotional Expenses 23,391
 27. Loan Servicing Expense 15,871
 28. Professional and Outside Services 360,888
 29. Total Member Insurance 11,350
 30. Operating Fees (Examination and/or supervision fees) 22,281
 31. Miscellaneous Operating Expenses 23,624
 32. TOTAL NON-INTEREST EXPENSE 1,558,427
33. NET INCOME (LOSS) 237,658
RESERVE TRANSFERS YEAR-TO-DATE FOR THE CYCLE  
 34. Transfer to Regular Reserves 0
Interest Rate# LoansAmount
Non-Commercial Loans/Lines of Credit
 1. Unsecured Credit Card Loans10.22743$1,401,926
 2. Payday Alternative Loans (PALs I and PALs II)0.000$0
 3. Non-Federally Guaranteed Student Loans0.000$0
 4. All Other Unsecured Loans/Lines of Credit - include SBA PPP loans10.86120$404,461
 5. New Vehicle Loans3.9224,203$4,704,259
 6. Used Vehicle Loans4.9850,047$6,720,407
 7. Leases Receivable0.000$0
 8. All Other Secured Non-Real Estate Loans/Lines of Credit6.4799$1,770,702
 9. Loans/Lines of Credit Secured by a First Lien on a single 1- to 4- Family Residential Property3.61132$14,837,842
 10. Loans/Lines of Credit Secured by a Junior Lien on a single 1- to 4- Family Residential Property5.33128$4,728,026
 11. All Other Real Estate Loans/Lines of Credit0.000$0
Commercial Loans / Lines of Credit
 12. Commercial Loans/Lines of Credit Real Estate Secured4.219$1,394,329
 13. Commercial Loans/Lines of Credit Not Real Estate Secured10.221$17,572
 14. TOTAL LOANS & LEASES75,482$35,979,524
YEAR-TO-DATE LOAN INFORMATIONNumberAmount
 15. Loans Granted Year-to-Date230$6,649,169
  a. Payday Alternative Loans (PALs I and PALs II) Granted Year-to-Date0$0
MISCELLANEOUS LOAN INFORMATIONNumberAmount
 16. Non-Federally Guaranteed Student Loans in Deferred Status0$0
 17. Loans Outstanding to Credit Union Officials and Senior Executive Staff10$86,704
GOVERNMENT GUARANTEED LOANSNumberOutstanding BalanceGuaranteed Portion
 18. Non-Commercial Loans  
  a. 1. Small Business Administration0$0$0
  a. 2. Paycheck Protection Program Loans (Included in 18.a.1.)0$0-
  b. Other Government Guaranteed0$0$0
 19. Commercial Loans  
  a. Small Business Administration0$0$0
  b. Other Government Guaranteed0$0$0
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