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Annual Reports

The numbers tell the story. It was another great year at Power Financial Credit Union.

Maybe Oprah's Book Club won't select it, but we think our annual reports are required reading. You can track Power Financial Credit Union's financial strength throughout the year and check up on all our activities and initiatives. Plus, you can access previous years' reports.

Statement of Financial Condition

as of December 31, 2019 and 2018 ($ in thousands)

Condition Type 2019 2018
Cash 3,185 2,855
Cash Equivalent 49,284 45,374
Investments 71,238 90,240
Net Loans 650,710 478,441
Fixed Assets 15,841 12,023
Other Assets 50,048 25,721
Total Assets 840,306 654,654
Savings 682,806 516,587
Borrowings 72,000 61,000
Other Liabilities 11,210 6,188
Total Liabilities 766,016 583,775
Equity 74,290 70,879
Total Liabilities & Equity 840,306 654,654

Statement of Income

as of December 31, 2019 and 2018 ($ in thousands)

Income Type 2019 2018
Interest on Loans 20,048 19,139
Interest on Investments 21,750 2,611
Total Interest Income 23,432 21,750
Interest on Savings 1,315 1,101
Interest on Borrowings 1,478 1,276
Total Interest Expenses 2,793 2,377
Provision for Loan Losses 880 956
Net Interest Income 19,759 18,417
Other Income 4,891 4,745
Compensation & Employee Benefits 11,146 11,066
Office Occupency & Operations 3,505 3,585
Education & Promotional 719 795
Professional & Outside Services 2,680 2,646
Other Expenses 1,814 1,092
Member Insurance None None
Total Operating Expenses 19,864 19,184
Net Income 4,786 3,978

Past Annual Reports:

Annual Report 2019
Annual Report 2018
Annual Report 2017
Annual Report 2016
Annual Report 2015
Annual Report 2014
Annual Report 2013
Annual Report 2012
Annual Report 2011
Annual Report 2010
Annual Report 2009
Annual Report 2008