Annual Reports

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

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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