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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.
as of December 31, 2022 and 2021 ($ in thousands)
| Condition Type | 2022 | 2021 |
|---|---|---|
| Cash | 3,400 | 3,673 |
| Cash Equivalent | 102,218 | 173,858 |
| Investments | 101,474 | 120,598 |
| Net Loans | 607,630 | 564,275 |
| Fixed Assets | 14,542 | 14,442 |
| Other Assets | 62,992 | 53,585 |
| Total Assets | 892,256 | 930,431 |
| Savings | 778,440 | 796,485 |
| Borrowings | 23,000 | 40,000 |
| Other Liabilities | 6,447 | 6,447 |
| Total Liabilities | 810,345 | 842,932 |
| Equity | 81,911 | 87,499 |
| Total Liabilities & Equity | 892,256 | 930,431 |
as of December 31, 2022 and 2021 ($ in thousands)
| Income Type | 2022 | 2021 |
|---|---|---|
| Interest on Loans | 23,479 | 22,359 |
| Interest on Investments | 4,202 | 1,121 |
| Total Interest Income | 27,681 | 23,480 |
| Interest on Savings | 1,734 | 1,860 |
| Interest on Borrowings | 757 | 1,134 |
| Total Interest Expenses | 2,491 | 2,994 |
| Provision for Loan Losses | 1,978 | (792) |
| Net Interest Income | 23,212 | 27,278 |
| Other Income | 4,598 | 4,434 |
| Compensation & Employee Benefits | 11,634 | 11,147 |
| Office Occupency & Operations | 3,951 | 4,145 |
| Education & Promotional | 731 | 767 |
| Professional & Outside Services | 2,530 | 2,339 |
| Other Expenses | 1,085 | 1,144 |
| Member Insurance | —None | —None |
| Total Operating Expenses | 19,931 | 19,542 |
| Net Income | 7,879 | 6,170 |
Annual Report 2022
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