Dec, 31, 2023 — AIR ACADEMY FEDERAL CREDIT UNION is a federal credit union headquartered in COLORADO SPRINGS, CO with 10 branch locations and about $908.00 million in total assets. Opened 69 years ago in 1955, AIR ACADEMY FEDERAL CREDIT UNION has about 48,789 members and employs 157 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | AIR ACADEMY FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 9810 N Union Blvd COLORADO SPRINGS, CO 80924-5002 |
| Phone: | (719) 593-8600 |
| Fax: | |
| Website: | https://www.aafcu.com |
| Branches: | 10 branch locations |
| Members: | 48,789 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 10600 |
|---|---|
| Membership Type: | Multiple common bond - Primarily military |
| Corporate Credit Union: | No |
| Year Opened: | 1955 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $907,999,225 |
| CEO/Manager: | Glenn L Strebe |
| Chairperson: | Donald M Bird |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 25,680,393 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 375,719,032 |
| Unsecured Loans | 64,622,309 |
| Other Loans | 274,301,251 |
| TOTAL LOANS | 714,646,121 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -4,727,916 |
| Land And Building | 13,876,709 |
| Other Fixed Assets | 4,015,324 |
| NCUSIF Deposit | 7,424,248 |
| All Other Assets | 653,626 |
| TOTAL ASSETS | 907,999,225 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 6,389 |
| Notes & Interest Payable | 105,000,000 |
| Accounts Payable & Other Liabilities | 12,338,407 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 227,420,757 |
| Regular shares | 170,555,767 |
| All Other Shares & Deposits | 334,117,261 |
| TOTAL SHARES & DEPOSITS | 732,093,782 |
| TOTAL LIABILITIES | 849,438,578 |
| Regular Reserve | 0 |
| Other Reserves | -12,605,441 |
| Undivided Earnings | 71,166,088 |
| TOTAL EQUITY | 58,560,647 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 907,999,225 |
| INCOME & EXPENSE | |
| Loan Income | 35,330,441 |
| Investment Income | 2,961,395 |
| Other Income | 2,439,381 |
| Total Employee Compensation & Benefits | 12,952,756 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 13,603,208 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 4,200,000 |
| Cost of Funds | 11,464,120 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 4,274,599 |
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