2024-11-13T20:06:32-06:00 2023-12-31 952302617 SINGERLEWAK LLP 10960 WILSHIRE BLVD SUITE 1100 LOS ANGELES CA 90024 990 2023-01-01 840160254 POWER CREDIT UNION POWE 7195640710 1615 E EVANS AVENUE PUEBLO CO 81004 LITA SANDERS VP OF FINANCE 7195640710 2024-11-12 1 0 NANAZ BENYAMINI P00666808 3104773924 2024-11-08 2023 2024-10-15 13:58:12Z LITA SANDERS 1615 E EVANS AVE PUEBLO CO 81004 6727230 0 X WWW.POWERCU.ORG X 1938 CO TO PROMOTE THRIFT AND LOWER COST CREDIT TO THE MEMBERS OF THE CREDIT UNION. TO PROMOTE THRIFT AMONG MEMBERS BY AFFORDING THEM THE OPPORTUNITY TO ACCUMULATE PAYMENTS ON SHARES AND TO MAKE LOANS FROM THESE SHARES TO ITS MEMBERS. 7 7 66 7 148799 0 0 0 4615703 5306772 672483 1271659 84812 148799 5372998 6727230 0 0 0 0 2061982 2253213 0 0 0 2922372 3996138 4984354 6249351 388644 477879 119765846 115118280 107743483 102909601 12022363 12208679 TO PROMOTE THRIFT AND LOWER COST CREDIT TO THE MEMBERS OF THE CREDIT UNION. TO PROMOTE THRIFT AMONG MEMBERS BY AFFORDING THEM THE OPPORTUNITY TO ACCUMULATE PAYMENTS ON SHARES AND TO MAKE LOANS FROM THESE SHARES TO ITS MEMBERS. 0 0 PROVIDE A WIDE VARIETY OF FINANCIAL PRODUCTS AND SERVICES TO MEMBERS OFTHE CREDIT UNION. OVER 12,000 MEMBERS SERVED. 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1469 0 1 66 1 1 1 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 0 1 1 1 0 X LITA SANDERS VP OF FINANCE 7195640710 1615 E EVANS AVENUE PUEBLO CO 81004 TED COOK BOARD CHAIR 2.00 X X 0 0 0 MICHAEL PARLAPIANO BOARD VICE CHAIR 2.00 X X 0 0 0 AVA DEHERRERA BOARD SECRETARY/TREASURER 2.00 X X 0 0 0 KATIE HEURERMANN BOARD MEMBER 2.00 X 0 0 0 MICHAEL JOLLY BOARD MEMBER 2.00 X 0 0 0 THEODORE LOPEZ BOARD MEMBER 2.00 X 0 0 0 DON TRUJILLO BOARD MEMBER 2.00 X 0 0 0 VANESSA TREXEL CEO/PRESIDENT 40.00 X 136290 0 20452 ERNESTINE TRUJILLO VP OF OPERATIONS 40.00 X 73912 0 12525 SHARI KRASOVIC VP OF HUMAN RESOURCES 40.00 X 62838 0 10906 LITA SANDERS VP OF FINANCE 40.00 X 77927 0 5862 KELLY SCHERMERHORN VP OF MEMBER EXPERIENCE 40.00 X 32595 0 12271 383562 0 62016 1 0 1 0 0 INTEREST ON LOANS TO MEMBERS 522100 3679672 3679672 FEES AND OTHER CHARGES 522100 884105 884105 OTHER INCOME 522100 742995 742995 5306772 1271659 1271659 NON-MEMBER ATM FEES 522100 148799 148799 148799 6727230 5306772 148799 1271659 445576 1418919 59457 168586 160675 3532 48000 242108 115030 849551 333257 217 60865 253010 INTEREST/DIVIDENDS PAID 984608 PROVISION FOR LOAN LOSS 553021 OPERATING FEES 313308 LOAN SERVICING 239631 6249351 923872 1058447 4926498 11605593 61857118 60968005 7569955 4944230 2716432 2625725 15822072 9351218 28047709 24254209 5472145 5255083 119765846 115118280 1181670 1939365 106561813 100970236 107743483 102909601 X 0 0 1482212 1482212 10540151 10726467 12022363 12208679 119765846 115118280 X 477879 270647 -562210 X 0 0 0 1094591 1094591 3957305 2675509 1281796 2518059 2268721 249338 2625725 PERPETUAL CAPITAL AT CORPORATE CREDIT UNION 414309 C CERTIFICATES OF DEPOSIT 23712000 C ALL OTHER INVESTMENTS 127900 C 24254209 MEMBERS SHARE AND DEPOSIT ACCOUNTS 100970236 100970236 X X X X X 0 0 0 VANESSA TREXEL CEO/PRESIDENT 114164 0 22126 0 0 0 0 0 20452 0 156742 0 0 0 PART I, LINE 3 CEO COMPENSATION IS DETERMINED BY THE BOARD OF DIRECTORS. THE CEO'S SALARY IS ADJUSTED BASED ON EXPERIENCE AND FINANCIAL CONDITION OF THE CREDIT UNION. YEARLY PERFORMANCE REVIEWS OF THE CEO ARE CONDUCTED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION IS A MEMBER OWNED FINANCIAL COOPERATIVE THAT IS OPERATED FOR THE BENEFIT OF EMPLOYEES OF THE POWER DEPARTMENT AT COLORADO FUEL AND IRON, RESIDENTS LIVING IN PUEBLO WEST, FREMONT COUNTY, SOUTHEAST PUEBLO COUNTY, CHAFFEE COUNTY, LAS ANIMAS COUNTY, ALL PEOPLE WHO ARE 50+ LIVING IN PUEBLO COUNTY AND THE FAMILIES OF ELIGIBLE MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE CREDIT UNION ANNUALLY ELECT THE BOARD OF DIRECTORS TO SERVE MULTIPLE-YEAR TERMS BY MAILING IN BALLOTS OR VOTING AT AN ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7B VARIOUS DECISIONS MADE BY THE BOARD OF DIRECTORS FOR A CREDIT UNION ARE SUBJECT TO APPROVAL BY THE MEMBERS OF THE CREDIT UNION AS SET FORTH IN NCUA RULES AND REGULATIONS AND APPLICABLE STATE REGULATIONS. FORM 990, PART VI, SECTION B, LINE 11B THE COMPLETED FORM 990 IS REVIEWED BY THE CHIEF EXECUTIVE OFFICER AND VICE PRESIDENT OF FINANCE AND INFORMATION TECHNOLOGY. THE BOARD OF DIRECTORS DOES NOT REVIEW THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C THE CREDIT UNION PROVIDES AN ANNUAL DISCLOSURE FORM TO ALL VOLUNTEERS TO IDENTIFY ANY POTENTIAL CONFLICTS OF INTEREST. DISCLOSURES ARE REVIEWED FOR ANY ITEMS REQUIRING FURTHER FOLLOW-UP. FORM 990, PART VI, SECTION B, LINE 15 CEO COMPENSATION IS DETERMINED BY THE BOARD OF DIRECTORS. THE CEO'S SALARY IS ADJUSTED BASED ON EXPERIENCE AND FINANCIAL CONDITION OF THE CREDIT UNION. YEARLY PERFORMANCE REVIEWS OF THE CEO ARE CONDUCTED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICIES ARE AVAILABLE FOR REVIEW UPON REQUEST AT THE CREDIT UNION. MONTHLY FINANCIAL STATEMENTS ARE AVAILABLE ON DISPLAY AT THE CREDIT UNION. QUARTERLY FINANCIAL DATA IS ACCESSIBLE TO THE PUBLIC AT WWW.NCUA.GOV. FORM 990, PART XI, LINE 9: EARLY ADOPTION OF CECL -562,210.