Dec, 31, 2023 — AEROSPACE FEDERAL CREDIT UNION is a federal credit union headquartered in EL SEGUNDO, CA with 1 branch location and about $413.83 million in total assets. Opened 63 years ago in 1961, AEROSPACE FEDERAL CREDIT UNION has about 9,610 members and employs 25 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | AEROSPACE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 2310 E El Segundo Blvd EL SEGUNDO, CA 90245 |
| Phone: | (310) 336-5030 |
| Fax: | (310) 336-8212 |
| Website: | https://www.aerofcu.org |
| Branches: | 1 branch locations |
| Members: | 9,610 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 14723 |
|---|---|
| Membership Type: | Military |
| Corporate Credit Union: | No |
| Year Opened: | 1961 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $413,828,443 |
| CEO/Manager: | Marvin L Thomas |
| Chairperson: | David Christopher |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 16,090,497 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 245,600 |
| Real Estate Loans | 73,545,677 |
| Unsecured Loans | 6,894,508 |
| Other Loans | 17,578,420 |
| TOTAL LOANS | 98,018,605 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -80,000 |
| Land And Building | 0 |
| Other Fixed Assets | 2,276,191 |
| NCUSIF Deposit | 3,375,902 |
| All Other Assets | 0 |
| TOTAL ASSETS | 413,828,443 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 50,000,000 |
| Accounts Payable & Other Liabilities | 3,954,615 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 28,727,966 |
| Regular shares | 192,787,898 |
| All Other Shares & Deposits | 127,543,344 |
| TOTAL SHARES & DEPOSITS | 349,059,209 |
| TOTAL LIABILITIES | 403,013,824 |
| Regular Reserve | 0 |
| Other Reserves | -30,712,346 |
| Undivided Earnings | 41,526,965 |
| TOTAL EQUITY | 10,814,619 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 413,828,443 |
| INCOME & EXPENSE | |
| Loan Income | 3,934,914 |
| Investment Income | 7,798,241 |
| Other Income | 77,605 |
| Total Employee Compensation & Benefits | 2,868,014 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 4,066,880 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 118,092 |
| Cost of Funds | 5,617,675 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 50,288 |
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