Sep, 30, 2025 — PEN AIR CREDIT UNION is a federally insured state chartered credit union headquartered in PENSACOLA, FL with 16 branch locations and about $2.66 billion in total assets. Opened 90 years ago in 1936, PEN AIR CREDIT UNION has about 133,994 members and employs 398 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | PEN AIR CREDIT UNION |
|---|---|
| Address: (Main Office) | 9021 Westside Dr PENSACOLA, FL 32514-5539 |
| Phone: | (850) 505-3200 |
| Fax: | |
| Website: | https://www.penair.org |
| Branches: | 16 branch locations |
| Members: | 133,994 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68734 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1936 |
| Last Audited: | Dec 01, 2024 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $2,660,664,584 |
| CEO/Manager: | Delbert L Morgan |
| Chairperson: | Robert Jacobson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 369,109,482 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 289,656 |
| Real Estate Loans | 484,534,375 |
| Unsecured Loans | 106,501,919 |
| Other Loans | 1,006,660,688 |
| TOTAL LOANS | 1,603,759,572 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -27,059,710 |
| Land And Building | 67,490,167 |
| Other Fixed Assets | 17,974,287 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 19,439,262 |
| All Other Assets | 2,994,343 |
| TOTAL ASSETS | 2,660,664,584 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 6,564 |
| Notes & Interest Payable | 100,000,000 |
| Accounts Payable & Other Liabilities | 21,493,150 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 381,817,105 |
| Regular shares | 817,199,651 |
| All Other Shares & Deposits | 1,098,953,000 |
| TOTAL SHARES & DEPOSITS | 2,297,969,756 |
| TOTAL LIABILITIES | 2,419,469,817 |
| Regular Reserve | 0 |
| Other Reserves | -73,252,903 |
| Undivided Earnings | 314,447,670 |
| TOTAL EQUITY | 241,194,767 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 2,660,664,584 |
| INCOME & EXPENSE | |
| Loan Income | 76,896,124 |
| Investment Income | 17,267,633 |
| Other Income | 10,194,980 |
| Total Employee Compensation & Benefits | 29,272,954 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 32,519,397 |
| Non-operating Income & (Expense) | -1,355,753 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 9,434,000 |
| Cost of Funds | 32,409,489 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 12,598,721 |
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