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AIR ACADEMY FEDERAL CREDIT UNION

Dec, 31, 2020 — AIR ACADEMY FEDERAL CREDIT UNION is a federal credit union headquartered in Colorado Spring, CO with 8 branch locations and about $740.45 million in total assets. Opened 66 years ago in 1955, AIR ACADEMY FEDERAL CREDIT UNION has about 49,382 members and employs 153 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 307070021
Name:AIR ACADEMY FEDERAL CREDIT UNION
Address:
(Main Office)
PO Box 62910
Colorado Spring, CO 80962-2910
Phone:(719) 593-8600
Fax:
Website:http://www.aafcu.com
Branches:8 branch locations
Members:49,382
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, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$740,454,123
CEO/Manager:Glenn L Strebe
Chairperson:Donald M Bird

Call Report

  • Commercial Loans
  • Debt Cancellation/Suspension
  • Indirect Consumer Loans
  • Interest Only or Payment Option 1st Mortgage Loans
  • Micro Business Loans
  • Micro Consumer Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Participation Loans
  • Pay Day Loans
  • Real Estate Loans
  • Risk Based Loans
  • Payday Alternative Loans (PAL Loans)
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • First Time Homebuyer Program
  • Health Savings Accounts
  • Insurance/Investment Sales
  • International Remittances

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 119,957,735
TOTAL INVESTMENTS 46,828,567
Loans Held for Sale 3,548,650
 
 Real Estate Loans 252,833,179
 Unsecured Loans 29,209,961
 Other Loans 255,867,335
 TOTAL LOANS 537,910,475
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -2,310,011
 Land And Building 15,395,652
 Other Fixed Assets 2,959,467
 NCUSIF Deposit 5,687,199
 All Other Assets 10,476,389
  TOTAL ASSETS 740,454,123
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 25,000,000
 Accounts Payable & Other Liabilities 3,237,379
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 236,503,420
 Regular shares 160,244,767
 All Other Shares & Deposits 255,999,812
  TOTAL SHARES & DEPOSITS 652,747,999
  TOTAL LIABILITIES 680,985,378
 Regular Reserve 3,678,053
 Other Reserves -23,215
 Undivided Earnings 55,813,907
  TOTAL EQUITY 59,468,745
  TOTAL LIABILITIES, SHARES, & EQUITY 740,454,123
INCOME & EXPENSE  
 Loan Income 21,934,584
 Investment Income 428,100
 Other Income 7,301,211
 Total Employee Compensation & Benefits 11,790,640
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 9,980,096
 Non-operating Income & (Expense) 105,222
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 1,712,000
 Cost of Funds 3,683,897
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 2,602,484
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