Dec, 31, 2020 — AERO FEDERAL CREDIT UNION is a federal credit union headquartered in Glendale, AZ with 8 branch locations and about $262.17 million in total assets. Opened 63 years ago in 1958, AERO FEDERAL CREDIT UNION has about 18,657 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 |
|---|---|
| Address: (Main Office) | 5811 W Talavi Blvd Glendale, AZ 85306 |
| Phone: | (623) 334-4701 |
| Fax: | (623) 776-4731 |
| Website: | http://www.aerofed.net |
| Branches: | 8 branch locations |
| Members: | 18,657 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 12164 |
|---|---|
| Membership Type: | Multiple common bond - Primarily other manufacturing |
| Corporate Credit Union: | No |
| Year Opened: | 1958 |
| Last Audited: | Dec 01, 2020 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $262,166,880 |
| CEO/Manager: | Mike Moyes |
| Chairperson: | Richard Clauer |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 22,351,753 |
| TOTAL INVESTMENTS | 58,931,269 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 19,786,744 |
| Unsecured Loans | 11,291,704 |
| Other Loans | 134,048,896 |
| TOTAL LOANS | 165,127,344 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,009,367 |
| Land And Building | 3,082,127 |
| Other Fixed Assets | 354,176 |
| NCUSIF Deposit | 2,181,326 |
| All Other Assets | 11,148,252 |
| TOTAL ASSETS | 262,166,880 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 8,983 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,363,786 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 46,643,734 |
| Regular shares | 105,609,425 |
| All Other Shares & Deposits | 74,269,308 |
| TOTAL SHARES & DEPOSITS | 226,522,467 |
| TOTAL LIABILITIES | 227,895,236 |
| Regular Reserve | 3,074,938 |
| Other Reserves | 0 |
| Undivided Earnings | 31,196,706 |
| TOTAL EQUITY | 34,271,644 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 262,166,880 |
| INCOME & EXPENSE | |
| Loan Income | 6,441,642 |
| Investment Income | 830,855 |
| Other Income | 2,175,787 |
| Total Employee Compensation & Benefits | 4,148,117 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 4,057,072 |
| Non-operating Income & (Expense) | -6,066 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 768,244 |
| Cost of Funds | 664,664 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -195,879 |
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