Dec, 31, 2023 — EMPOWER CREDIT UNION is a federally insured state chartered credit union headquartered in WEST ALLIS, WI with 2 branch locations and about $91.32 million in total assets. Opened 27 years ago in 1997, EMPOWER CREDIT UNION has about 4,869 members and employs 19 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | EMPOWER CREDIT UNION |
|---|---|
| Address: (Main Office) | 10635 W Greenfield Ave WEST ALLIS, WI 53214 |
| Phone: | (414) 988-6600 |
| Fax: | (414) 988-6699 |
| Website: | https://empower-cu.org |
| Branches: | 2 branch locations |
| Members: | 4,869 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68317 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1997 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $91,316,297 |
| CEO/Manager: | Michael J Brandt |
| Chairperson: | Jared J Peccarelli |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,973,461 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 50,440,971 |
| Unsecured Loans | 816,094 |
| Other Loans | 16,731,279 |
| TOTAL LOANS | 67,988,344 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -206,651 |
| Land And Building | 3,450,742 |
| Other Fixed Assets | 134,858 |
| NCUSIF Deposit | 685,504 |
| All Other Assets | 0 |
| TOTAL ASSETS | 91,316,297 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 102,383 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,852,010 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 9,125,957 |
| Regular shares | 23,982,260 |
| All Other Shares & Deposits | 38,090,551 |
| TOTAL SHARES & DEPOSITS | 71,198,767 |
| TOTAL LIABILITIES | 73,153,160 |
| Regular Reserve | 0 |
| Other Reserves | -88,178 |
| Undivided Earnings | 18,251,315 |
| TOTAL EQUITY | 18,163,137 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 91,316,297 |
| INCOME & EXPENSE | |
| Loan Income | 2,852,741 |
| Investment Income | 482,840 |
| Other Income | 276,982 |
| Total Employee Compensation & Benefits | 1,271,189 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,553,588 |
| Non-operating Income & (Expense) | 48,400 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 46,618 |
| Cost of Funds | 1,083,086 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 110,266 |
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