Dec, 31, 2023 — POLISH-AMERICAN FEDERAL CREDIT UNION is a federal credit union headquartered in TROY, MI with 2 branch locations and about $167.54 million in total assets. Opened 48 years ago in 1976, POLISH-AMERICAN FEDERAL CREDIT UNION has about 7,107 members and employs 26 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | POLISH-AMERICAN FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 2889 E Maple Rd TROY, MI 48083 |
| Phone: | (248) 619-0440 |
| Fax: | (248) 619-3230 |
| Website: | https://www.mypafcu.com |
| Branches: | 2 branch locations |
| Members: | 7,107 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 22280 |
|---|---|
| Membership Type: | Multiple common bond - other |
| Corporate Credit Union: | No |
| Year Opened: | 1976 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $167,544,491 |
| CEO/Manager: | John A Swidwinski |
| Chairperson: | Mark Reaume |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 5,417,260 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 92,663,468 |
| Unsecured Loans | 2,677,032 |
| Other Loans | 9,465,320 |
| TOTAL LOANS | 104,805,820 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -369,138 |
| Land And Building | 907,582 |
| Other Fixed Assets | 46,589 |
| NCUSIF Deposit | 1,468,694 |
| All Other Assets | 0 |
| TOTAL ASSETS | 167,544,491 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 276,089 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 462,220 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 33,849,952 |
| Regular shares | 47,473,897 |
| All Other Shares & Deposits | 66,002,539 |
| TOTAL SHARES & DEPOSITS | 147,326,388 |
| TOTAL LIABILITIES | 148,064,697 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 19,479,794 |
| TOTAL EQUITY | 19,479,794 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 167,544,491 |
| INCOME & EXPENSE | |
| Loan Income | 4,018,813 |
| Investment Income | 1,654,840 |
| Other Income | 424,352 |
| Total Employee Compensation & Benefits | 1,736,834 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,775,298 |
| Non-operating Income & (Expense) | 28,588 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -4,576 |
| Cost of Funds | 942,605 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,937,314 |
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