POWERCO STAFF MAIN OFFICE

241 Ralph McGill Boulevard, NE

Atlanta, Georgia 30308

9 AM - 4 PM ATM Location

30 ALLEN PLAZA BRANCH

30 Ivan Allen Jr. Boulevard, NW Suite 110 Atlanta, GA 30308

9 AM - 1 PM 2 PM - 4 PM

ATM Location

FOREST PARK BRANCH

62 Lake Mirror Road, Bldg. 12 Forest Park, GA 30297

9 AM - 1 PM 2 PM - 4 PM

ATM Location

COBB BRANCH

2135 Roswell Road Marietta, GA 30062

9 AM - 1 PM 2 PM - 4 PM

Drive Thru Location ATM Location

HENRY COUNTY BRANCH

2500 Patrick Henry Parkway McDonough, GA 30253

9 AM - 1 PM 2 PM - 4 PM

ATM Location

ATHENS BRANCH

285 Newton Bridge Road Athens, GA 30607

9 AM - 12 PM 1 PM - 4 PM

Drive Thru Location

SAVANNAH BRANCH

3101 Kilowatt Drive Savannah, GA 31405

9 AM - 1 PM 2 PM - 4 PM

ATM Location

GULFPORT BRANCH

2201 17th Street Gulfport, MS 39501

9 AM - 3 PM (Central Time)

ADDITIONAL ATM LOCATIONS Plant Daniel Plant Hatch Plant Scherer Plant Vogtle

Mississippi Power Company Coast Division Service Center

Mississippi Power Company General Office

Mississippi Power Company Operation Center

2829 13th Street, Gulfport, MS

420 West Pine Street, Hattiesburg, MS

2401 11th Street, Meridian, MS

Over 35,000 additional surcharge-free ATM locations

are available through the CULIANCE® ATM Network,

including Publix® Presto!® ATMs.

PPPPOWERCOOWERCOOWERCOOWERCO FFFFEDERALEDERALEDERALEDERAL CCCCREDITREDITREDITREDIT UUUUNIONNIONNIONNION

(404) 506(404) 506(404) 506(404) 506----3750 & 13750 & 13750 & 13750 & 1----800800800800----633633633633----5217521752175217

Polly: Polly: Polly: Polly: (404) 506(404) 506(404) 506(404) 506----4731 & 14731 & 14731 & 14731 & 1----800800800800----633633633633----5216521652165216

Fax: Fax: Fax: Fax: (404) 506(404) 506(404) 506(404) 506----3787378737873787

WWWWWWWWWWWW....POWERCOPOWERCOPOWERCOPOWERCO....ORGORGORGORG

This credit union is federally insured by the National Credit Union Administration.

We do business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act. NMLS# 762143

ANNUAL REPORT

Dan Blalock, President & CEO

Nancy C. McCracken, Chief Information Officer

Diane O’Toole, Vice President of Branch and Loan Operations

Stephanie B. Smith, Vice President of Marketing

Marcia E. Tidmore, Chief Financial Officer

Operations

Leigh Boulware, Compliance Coordinator

Lynn Barry, Mortgage Loan Manager

Lori Batey, Accounts Payable Specialist

Alina Frolova, Accountant

Sabrina Jarvis, Manager, Human Resources & Administration

Crystal A. Pollard, Card Operations Manager

Jimmy Thompson, System Support Associate

Main Office

Stephanie Fuller, Sr. Branch Manager

Susan C. Beeching, Customer Service Rep. II

Tammy Dobbs, Member Relations Assistant

Katherine Euliano, Customer Service Rep.

Deborah Herron, Member Service Specialist

Amber Redmond, Receptionist/Customer Service Rep.

Kelley E. Richards, Consumer Lending Manager

Patty Storey, Customer Service Rep.

30 Allen Plaza Branch

Almelia B. Anderson, Branch Manager

Karen L. Gill, Sr. Member Service Specialist

Athens Branch

Meagan Booth, Customer Service Rep.

Taylor Noltensmeier, Customer Service Rep.

Cobb Branch

Leigh Anderson, Branch Manager

Chris McDermid, Loan Assistant

Forest Park Branch

Sherry A. Day, Branch Manager

Mary Brock, Customer Service Rep.

Gulfport Branch

Myra Easterling, Branch Manager

Tammy Agregaard, Customer Service Rep.

Nikki Olson, Loan Assistant

Henry County Branch

Brandy D. Alpough, EFT/Checking Manager

Savannah Branch

Tammy Donovan, Branch Manager

Keely Hughes, Customer Service Rep.

Powerco Federal Credit Union is a federally insured financial institution headquartered in Atlanta, Georgia. Chartered in 1935, Powerco is one of the largest credit unions in the state of Georgia.

Members and their families are served by dedicated professionals in 8 offices throughout Georgia and Mississippi. Powerco is committed to providing excellent service and continued product development to meet the growing financial needs of its membership.

Membership in Powerco Federal Credit Union is exclusively for employees of Georgia Power Company, Southern Company Services, Mississippi Power Company, Southern LINC, other Southern Company subsidiaries and affiliates, as well as select employee groups, persons retired from the above employments, any family members of employees of these companies, and family members of a Powerco Federal Credit Union

member.

BOARD OF DIRECTORS

Janet S. Katzenberger, Chair

Dan Blalock, President & CEO

Keith W. Smith, Vice Chair

Mike Pannullo, Treasurer

Donna Via, Secretary

Chris D’Andrea

Martha Benson

Deanna Moultry

Bill Parmer

CREDIT COMMITTEE

Valerie D. Searcy, Chair Marlon Oliver

Mike Protsman

Alicia Russell

Kim Thomas

SUPERVISORY COMMITTEE

Emi Rahn, Chair

John E. Brown

Tommy Tucker

2019

$ 79,131,181 218,691 $ 78,912,490 0 7,410,293 79,733,996 368,097 543,462 1,849,770 $ 168,818,108 $ 842,134 535 185,926 $ 1,028,595 $ 66,860,255 26,695,129 26,659,842 22,865,500 3,567,119 20,553,181

(49,130) 637,616 $ 167,789,512 $ 168,818,107

2018

$ 76,250,011 157,249 $ 76,092,762 513,525 7,099,576 89,671,830 318,485 586,319 1,954,343 $ 176,236,840 $ 239,708 69 199,282 $ 439,059 $ 68,563,610 25,176,148 31,913,463 24,717,395 3,567,119 20,401,890 (179,460)

637,616 $ 174,797,781 $ 175,236,840

INCREASE (DECREASE)

$ 2,881,170 61,442 $ 2,819,728

(513,525)

310,717 (9,937,834)

49,612 (42,857)

(104,573)

$ (7,418,732)

$ 602,426 466

(13,356)

$ 589,536

$ (1,703,355) 1,518,981

(5,253,621) (1,851,895)

(0) 151,291 130,330 0 $ (7,008,269)

$ (6,418,733)

As of December 31

INCOME

Interest on Loans Income from Investments Miscellaneous Operating Income

TOTAL INCOME

EXPENSES Compensation Employee Benefits Travel and Conference Expenses Association Dues Office Occupancy Expenses Office Operations Expenses Educational and Promotional Expenses Loan Servicing Expenses Professional and Outside Services Provision for Loan Losses NCUSIF Stabilization Expense Federal Operating Fee Cash Over and Short Annual Meeting Expense Miscellaneous Operating Expenses

TOTAL EXPENSES Gain (loss) on Asset Disposal

NET INCOME Dividends Paid to Members Transferred to Regular Reserve Transferred to Undivided Earnings

2019

$ 3,432,965 1,984,735 888,332 $ 6,306,032 $ 2,960,767 507,421 18,736 41,528 230,029 1,334,842 30,420 179,987 311,980 206,017 0 54,685 345 2,983 3,149 $ 5,882,888 $ 3,600 $ 426,744

$ 275,454 $ 0 $ 151,290

2018

$ 3,278,353 1,745,230 1,213,630 $ 6,237,213 $ 2,253,789 389,603 18,432 0 237,194 1,168,550 33,289 181,984 164,451 130,000 0 40,509 838 51 52,888

$ 4,671,578 $ 0 $ 1,565,635

$ 210,623 $ 0 $ 1,355,012

INCREASE (DECREASE)

$ 154,612 239,505

(325,298)

$ 68,819

$ 706,978 117,818 304 41,528

(7,165) 166,292

(2,869) (1,997)

147,529 76,017 0 14,176

(493) 2,932

(49,739)

$ 1,211,310 $ 0

$ (1,138,891) $ 64,831 $ 0 $ (1,203,722)

For the Period Ending December 31

COMPARATIVE STATEMENT OF FINANCIAL CONDITION COMPARATIVE STATEMENT OF INCOME

ASSETS

Loans Less: Allowance for Loan Losses Net Accounts Receivable Cash Investments Accrued Income Fixed Assets (Net) Other Assets

TOTAL ASSETS

LIABILITIES AND EQUITY Accounts Payable Accrued Dividends Payable Other Liabilities

TOTAL LIABILITIES Regular Shares Checking Accounts Money Market Accounts Share Certificates Regular Reserve Undivided Earnings Accum Unreal G/L on AFS Investments Capital - Merged Credit Union

TOTAL EQUITY

TOTAL LIABILITIES AND EQUITY

The year 2019 was one of growth and

innovation for Powerco Federal Credit Union.

We ended the year on solid footing and stand

poised to leap into 2020 with our sight set

on a visionary year.

2020 will mark Powerco’s 85th anniversary.

Throughout this momentous year we will

unveil more powerful products, loans and

services to help you focus on building your

financial future. And, we’ll never lose sight of

our members — they are the “you” in Powerco

Federal Credit Union.