Dec, 31, 2023 — PEN AIR CREDIT UNION is a federally insured state chartered credit union headquartered in PENSACOLA, FL with 13 branch locations and about $3.08 billion in total assets. Opened 88 years ago in 1936, PEN AIR CREDIT UNION has about 126,262 members and employs 363 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) | 1495 E Nine Mile Rd PENSACOLA, FL 32514-5723 |
| Phone: | (850) 505-3200 |
| Fax: | (850) 317-8389 |
| Website: | https://www.penair.org |
| Branches: | 13 branch locations |
| Members: | 126,262 |
| 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, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $3,075,876,812 |
| CEO/Manager: | Delbert L Morgan |
| Chairperson: | Robert Jacobson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 842,743,624 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 122,000 |
| Real Estate Loans | 425,888,220 |
| Unsecured Loans | 119,441,391 |
| Other Loans | 942,232,690 |
| TOTAL LOANS | 1,491,476,855 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -31,521,294 |
| Land And Building | 60,082,036 |
| Other Fixed Assets | 11,335,407 |
| NCUSIF Deposit | 19,714,233 |
| All Other Assets | 2,129,093 |
| TOTAL ASSETS | 3,075,876,812 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 269,769 |
| Notes & Interest Payable | 630,000,000 |
| Accounts Payable & Other Liabilities | 41,475,866 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 328,046,471 |
| Regular shares | 774,567,168 |
| All Other Shares & Deposits | 1,118,216,827 |
| TOTAL SHARES & DEPOSITS | 2,220,830,464 |
| TOTAL LIABILITIES | 2,892,576,099 |
| Regular Reserve | 0 |
| Other Reserves | -102,723,504 |
| Undivided Earnings | 286,024,217 |
| TOTAL EQUITY | 183,300,713 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 3,075,876,812 |
| INCOME & EXPENSE | |
| Loan Income | 86,430,609 |
| Investment Income | 43,620,178 |
| Other Income | 12,306,998 |
| Total Employee Compensation & Benefits | 30,273,903 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 39,883,018 |
| Non-operating Income & (Expense) | 1,141,551 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 14,738,000 |
| Cost of Funds | 53,392,748 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 29,410,433 |
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