Mar, 31, 2022 — AERO FEDERAL CREDIT UNION is a federal credit union headquartered in GLENDALE, AZ with 7 branch locations and about $302.24 million in total assets. Opened 64 years ago in 1958, AERO FEDERAL CREDIT UNION has about 19,308 members and employs 52 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: | 7 branch locations |
| Members: | 19,308 |
| 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, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $302,243,163 |
| CEO/Manager: | Mike Moyes |
| Chairperson: | Michelle Meldrum |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 29,608,761 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 34,999,066 |
| Unsecured Loans | 9,837,616 |
| Other Loans | 156,755,150 |
| TOTAL LOANS | 201,591,832 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,056,550 |
| Land And Building | 2,960,313 |
| Other Fixed Assets | 385,582 |
| NCUSIF Deposit | 2,295,044 |
| All Other Assets | 34,530 |
| TOTAL ASSETS | 302,243,163 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 6,630 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,435,468 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 58,083,960 |
| Regular shares | 123,130,639 |
| All Other Shares & Deposits | 83,265,710 |
| TOTAL SHARES & DEPOSITS | 264,480,309 |
| TOTAL LIABILITIES | 265,922,407 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 36,320,756 |
| TOTAL EQUITY | 36,320,756 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 302,243,163 |
| INCOME & EXPENSE | |
| Loan Income | 1,646,726 |
| Investment Income | 105,527 |
| Other Income | 219,652 |
| Total Employee Compensation & Benefits | 1,067,733 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 784,012 |
| Non-operating Income & (Expense) | -1,313 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 2,161 |
| Cost of Funds | 85,991 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 390,744 |
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