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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, 2021 and 2020 ($ in thousands)

Condition Type 2021 2020
Cash 3,673 4,012
Cash Equivalent 173,858 120,289
Investments 120,598 111,162
Net Loans 564,275 575,216
Fixed Assets 14,442 14,980
Other Assets 53,585 50,458
Total Assets 930,431 876,117
Savings 796,485 727,519
Borrowings 40,000 59,000
Other Liabilities 6,447 10,604
Total Liabilities 842,932 797,123
Equity 87,499 78,994
Total Liabilities & Equity 930,431 876,117

Statement of Income

as of December 31, 2021 and 2020 ($ in thousands)

Income Type 2021 2020
Interest on Loans 22,359 25,458
Interest on Investments 1,121 1668
Total Interest Income 23,480 27,126
Interest on Savings 1,860 2,301
Interest on Borrowings 1,134 1,458
Total Interest Expenses 2,994 3,759
Provision for Loan Losses (792) 1,889
Net Interest Income 21,278 21,478
Other Income 4,434 5,029
Compensation & Employee Benefits 11,147 12,205
Office Occupency & Operations 4,145 4,393
Education & Promotional 767 705
Professional & Outside Services 2,339 2,566
Other Expenses 1,144 946
Member Insurance None None
Total Operating Expenses 19,542 20,815
Net Income 6,170 5,692

Past Annual Reports:

Annual Report 2021
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