- Credit Union organized as Electricians Local
2017 Credit Union with $45. The original subscribers were:
J.G.Cain, Frank Diaz, Richard H. Moon, P.M.Banks, Jr., Charles
D. Brantmyer, Clifton P. Smith, W.R.Green, Lee Roy Stone, Jr.
and William P. Blair.
- Arne Pearson appointed as first Treasurer
- Maximum signature loan increased from $100 to
- Ended first year with member shares of
$9,034.61 & Loans of $7,673.94.
- Maximum signature loan increased to $300
- First Annual meeting Saturday, January 20, 1962
at 10:00am at the Moose Hall, William P. Blair presided.
- Board declared first dividend for year end...
- Joined the Florida Credit Union League and
Credit Union National Association
- Name changed from Electricians Local 2017 to
Electricians Local 915 Credit Union.
- Began offering $2,000 life savings insurance.
- John Gernhardt appointed Treasurer by Board of
- Started making automobile loans - required 1/3
- First office, letterhead, telephone for the
- Signature loan limit raised to $600
- Started 10% share pledge requirement on loans.
- Started paying Treasurer on part-time basis.
- Member share balances passed $100,000.
- Started using credit bureau.
- Started offering real estate loans.
- Treasurer became full-time Manager.
- Joined Tampa Credit Bureau.
- Made loan to Tampa Area Electrical
Apprenticeship Committee to build their own building.
- Signature loan limit raised to $2,000.
- Assets hit $1 Million!
- Joined with Local Union 915 to build our own
- Share insurance raised to $40,000.
- Maximum loan amount set at $10,000.
- Buddy Wade temporarily replaced John Gernhardt
- Moved into new building at 5621 Harney Road
with Local 915.
- Started paying rent to Union.
- Kevin Gilbertson replaced John Gernhardt as
- Tim McMurry replaced Kevin Gilbertson as
- First computer purchased for member accounting.
- First planning seminar for Official Family.
- Assets hit $2 Million!
- Share loans (fully guaranteed by shares) added
for lower rate and larger loan amount.
- Began offering temporary disability insurance
- Started maintaining currency on premises for
- Started offering Certificates of Deposit (for
- Increased minimum share balance to $25.
- Started offering home improvement loans.
- Increased maximum loans per member to $30,000.
- Share insurance increased to $100,000.
- Converted to a new "on-line" computer
system with ADOL.
- Assets hit $3 Million.
- Initiated IRA program.
- Started offering Share Draft/ Checking
- Share and deposit insurance increased to
- Added Certificates of Deposit for 12 months.
- Maximum loans per member increased to $50,000.
- Added "Super" Share Draft Account as
- Started offering construction loans.
- Began armored car delivery of currency to
- Replaced Credit Committee with Credit Manager.
- Purchased 5% ownership of ADOL - our data
- Merger with UA Local 624 Credit Union
- Expanded office area to include old Executive
- Maximum loans per member increased to $150,000.
- President completed MBA program at University
of South Florida, sponsored by credit union.
- Purchased our own telephone system.
- Assets hit $10 Million.
- Introduced MasterCard credit card program.
- Began making deposits directly to the Federal
- Expanded operations with new teller area
(formerly Union financial Secretary's office).
- Started giving formal financial planning
presentations to apprentices.
- Board authorized multiple Share accounts for
- Security cameras installed.
- Sold interest in ADOL to FISERV, a publicly
- Started mandated conversion to NCUA Federal
- Began offering IRA Certificates.
- Implemented formal employee appraisal system.
- Assets hit $20 Million.
- Major mortgage program revision implemented.
- Implemented MasterCard credit card annual fee
- Added 30 month Certificates of Deposit.
- Changed Supervisory Committee positions from
elected to appointed.
- Major remodeling and updating of offices.
- Converted to mandatory Federal Deposit
Insurance (coverage returned to $100,000)
- Implemented home equity loan program.
- Awarded 1st Bauer 5-Star Rating (now eligible).
- Changed name from Electricians Local 915 to
PowerNet Credit Union.
- Implemented Presto! ATM program.
- Converted to upgraded data processing system.
- Added IBEW Local 308, UA Local 111 and
Millwrights Local 1000 to credit union family.
- Implemented auto leasing program.
- Opened part-time office at UA Local 624 in
- Approved 401(k) Plan for employees.
- Added Ironworkers Local 397, Boilermakers Local
433, Sheet Metal Workers Local 15, IBEW 108, IUOE Local 925 to
credit union family
- Added Roth IRA to product list.
- Merged Florida IBEW FCU of Jacksonville into
credit union (included IBEW Locals 177, 1618, 2358, and 1205;
Machinists Local 731; Carpenters Local 627; and Painters Local
- Increased maximum loan amount per member to
- Implemented High Voltage Money Market Account.
- Increased maximum mortgage term to 30 years.
- Implemented "24 X 7" PowerLine Audio
- Installed extensive security system.
- Added Asbestos Workers Local 67 to credit union
- Successfully moved into New Millennium.
- Assets hit $30 million.
- Added GAP Insurance to product list.
- Added ChexSystems program.
- Added IBEW Locals 1924 and 222 to credit union
- Implemented Debit Card program.
- Added CU24, Cirrus, and STAR ATM networks to
- Increased member deposit insurance to $350,000.
- Selection of site for PowerNet's new Main
Office in Tampa.
- Closed Dover Office.
- PowerNet originates $14 Million in first
mortgages, it's largest increase ever in one year.
- Assets hit $40 Million.
- Ground breaking and construction for PowerNet's
new Main Office in Tampa
- Grand opening of our new Plant City Branch
office at 101 Alexander Street N.
- Assets hit $50
- Completion of PowerNet's new main office in
- Introduction of 15 and 30 year fixed mortgage
- Introduction of risk based pricing products
- Addition of full financial planning services
providing investment and insurance products through Money
Concepts Capital Corp.
- assets hit $55 Million
- Added formal business loan capability to list
of loan offerings
- Added website access
- Added online banking to list of services
- Increased loan limits to $450,000 per
member, $700,000 jointly
- Added Machinist’s District 112 to the field of
- Increased maximum member credit card limit to
- Assets hit $58 million
- Added Sheet Metal Workers Local 435 to the
field of membership
- Assets hit $62 million
- Introduced Identity Theft program
- Assets hit $69 million
- Added Elevator Constructors Local 74 to the
field of membership
- Assets hit $73 million
- Added PowerPay – our online bill pay service to
the list of services
- Added Florida State Interior Systems Local 632
to the field of membership
- Adopted CUNA Mutual’s Member Connect Insurance
- Re-affiliated with the League of Southeastern
- Celebrated 50-year anniversary