Dec, 31, 2023 — AERO FEDERAL CREDIT UNION is a federal credit union headquartered in GLENDALE, AZ with 7 branch locations and about $307.52 million in total assets. Opened 66 years ago in 1958, AERO FEDERAL CREDIT UNION has about 22,978 members and employs 55 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | AERO FEDERAL CREDIT UNION |
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Address: (Main Office) | 5811 W Talavi Blvd GLENDALE, AZ 85306 |
Phone: | (623) 334-4701 |
Fax: | (623) 776-4731 |
Website: | https://www.aerofed.net |
Branches: | 7 branch locations |
Members: | 22,978 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 12164 |
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Membership Type: | Multiple common bond - Primarily other manufacturing |
Corporate Credit Union: | No |
Year Opened: | 1958 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $307,521,530 |
CEO/Manager: | Mike Moyes |
Chairperson: | Michelle Meldrum |
ASSETS: | $ Amount |
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Cash & Equivalents | 28,171,110 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 50,826,788 |
Unsecured Loans | 10,647,600 |
Other Loans | 165,324,898 |
TOTAL LOANS | 226,799,286 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,842,382 |
Land And Building | 2,777,156 |
Other Fixed Assets | 2,228,060 |
NCUSIF Deposit | 2,569,909 |
All Other Assets | 112,334 |
TOTAL ASSETS | 307,521,530 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 153,070 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 2,023,681 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 46,795,841 |
Regular shares | 87,102,117 |
All Other Shares & Deposits | 134,125,783 |
TOTAL SHARES & DEPOSITS | 268,023,741 |
TOTAL LIABILITIES | 270,200,492 |
Regular Reserve | 0 |
Other Reserves | 0 |
Undivided Earnings | 37,321,038 |
TOTAL EQUITY | 37,321,038 |
TOTAL LIABILITIES, SHARES, & EQUITY | 307,521,530 |
INCOME & EXPENSE | |
Loan Income | 9,702,415 |
Investment Income | 2,372,454 |
Other Income | 900,141 |
Total Employee Compensation & Benefits | 4,882,584 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 4,261,702 |
Non-operating Income & (Expense) | 78,374 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 288,722 |
Cost of Funds | 3,606,027 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 941,781 |
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» See also Statement of Financial Condition