Jun, 30, 2024 — AIR ACADEMY FEDERAL CREDIT UNION is a federal credit union headquartered in COLORADO SPRINGS, CO with 8 branch locations and about $876.45 million in total assets. Opened 70 years ago in 1955, AIR ACADEMY FEDERAL CREDIT UNION has about 46,621 members and employs 150 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: | 8 branch locations |
| Members: | 46,621 |
| 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, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $876,448,842 |
| CEO/Manager: | Glenn L Strebe |
| Chairperson: | Donald M Bird |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 40,694,111 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 332,132,749 |
| Unsecured Loans | 35,137,043 |
| Other Loans | 295,254,249 |
| TOTAL LOANS | 662,534,112 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -2,018,822 |
| Land And Building | 13,784,027 |
| Other Fixed Assets | 3,334,901 |
| NCUSIF Deposit | 6,958,063 |
| All Other Assets | 319,258 |
| TOTAL ASSETS | 876,448,842 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 16 |
| Notes & Interest Payable | 60,000,000 |
| Accounts Payable & Other Liabilities | 7,843,273 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 266,455,669 |
| Regular shares | 196,614,625 |
| All Other Shares & Deposits | 294,620,538 |
| TOTAL SHARES & DEPOSITS | 757,690,832 |
| TOTAL LIABILITIES | 825,534,121 |
| Regular Reserve | 0 |
| Other Reserves | -14,204,601 |
| Undivided Earnings | 65,119,322 |
| TOTAL EQUITY | 50,914,721 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 876,448,842 |
| INCOME & EXPENSE | |
| Loan Income | 18,080,039 |
| Investment Income | 1,841,472 |
| Other Income | 1,875,985 |
| Total Employee Compensation & Benefits | 8,975,321 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 8,885,428 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,505,000 |
| Cost of Funds | 2,435,648 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,363,403 |
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