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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, 2020 and 2019 ($ in thousands)

Condition Type 2020 2019
Cash 4,012 3,185
Cash Equivalent 120,289 49,284
Investments 111,162 71,238
Net Loans 575,216 650,710
Fixed Assets 14,980 15,841
Other Assets 50,458 50,048
Total Assets 876,117 840,306
Savings 727,519 682,806
Borrowings 59,000 72,000
Other Liabilities 10,604 11,210
Total Liabilities 797,123 766,016
Equity 78,994 74,290
Total Liabilities & Equity 876,117 840,306

Statement of Income

as of December 31, 2020 and 2019 ($ in thousands)

Income Type 2020 2019
Interest on Loans 25,458 20,048
Interest on Investments 1,668 3,384
Total Interest Income 27,126 23,432
Interest on Savings 2,301 1,315
Interest on Borrowings 1,458 1,478
Total Interest Expenses 3,759 2,793
Provision for Loan Losses 1,889 880
Net Interest Income 21,478 19,759
Other Income 5,029 4,891
Compensation & Employee Benefits 12,205 11,146
Office Occupency & Operations 4,393 3,505
Education & Promotional 705 719
Professional & Outside Services 2,566 2,680
Other Expenses 946 1,814
Member Insurance None None
Total Operating Expenses 20,815 19864
Net Income 5,692 4,786

Past Annual Reports:

Annual Report 2020
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