Dec, 31, 2023 — POWER FINANCIAL CREDIT UNION is a federally insured state chartered credit union headquartered in PEMBROKE PINES, FL with 7 branch locations and about $878.51 million in total assets. Opened 73 years ago in 1951, POWER FINANCIAL CREDIT UNION has about 33,442 members and employs 140 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | POWER FINANCIAL CREDIT UNION |
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Address: (Main Office) | 2020 NW 150th Ave PEMBROKE PINES, FL 33028-2889 |
Phone: | (954) 538-4400 |
Fax: | |
Website: | https://www.powerfi.org |
Branches: | 7 branch locations |
Members: | 33,442 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 68445 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1951 |
Last Audited: | Jun 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $878,509,627 |
CEO/Manager: | Allan Prindle |
Chairperson: | Leman Murray |
ASSETS: | $ Amount |
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Cash & Equivalents | 52,688,437 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 551,111,070 |
Unsecured Loans | 19,402,081 |
Other Loans | 86,871,294 |
TOTAL LOANS | 657,384,445 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -4,574,316 |
Land And Building | 13,967,380 |
Other Fixed Assets | 427,866 |
NCUSIF Deposit | 6,854,733 |
All Other Assets | 88,932 |
TOTAL ASSETS | 878,509,627 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 58,000,000 |
Accounts Payable & Other Liabilities | 7,783,352 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 190,415,599 |
Regular shares | 335,347,509 |
All Other Shares & Deposits | 186,600,748 |
TOTAL SHARES & DEPOSITS | 712,363,855 |
TOTAL LIABILITIES | 778,148,207 |
Regular Reserve | 0 |
Other Reserves | 2,982,322 |
Undivided Earnings | 97,379,098 |
TOTAL EQUITY | 100,361,420 |
TOTAL LIABILITIES, SHARES, & EQUITY | 878,509,627 |
INCOME & EXPENSE | |
Loan Income | 29,759,326 |
Investment Income | 5,785,192 |
Other Income | 4,193,410 |
Total Employee Compensation & Benefits | 12,779,143 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 8,619,961 |
Non-operating Income & (Expense) | 1,159,167 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 921,530 |
Cost of Funds | 4,831,823 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 13,931,186 |
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