Dec, 31, 2022 — AEROSPACE FEDERAL CREDIT UNION is a federal credit union headquartered in EL SEGUNDO, CA with 3 branch locations and about $395.07 million in total assets. Opened 62 years ago in 1961, AEROSPACE FEDERAL CREDIT UNION has about 10,345 members and employs 25 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | AEROSPACE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 2310 E El Segundo Blvd EL SEGUNDO, CA 90245 |
| Phone: | (310) 336-5030 |
| Fax: | (310) 336-8212 |
| Website: | https://www.aerofcu.org |
| Branches: | 3 branch locations |
| Members: | 10,345 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 14723 |
|---|---|
| Membership Type: | Military |
| Corporate Credit Union: | No |
| Year Opened: | 1961 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $395,069,586 |
| CEO/Manager: | Marvin L Thomas |
| Chairperson: | David Christopher |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 8,752,327 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 250,000 |
| Real Estate Loans | 73,574,618 |
| Unsecured Loans | 6,425,458 |
| Other Loans | 18,013,438 |
| TOTAL LOANS | 98,013,514 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -50,000 |
| Land And Building | 0 |
| Other Fixed Assets | 2,512,789 |
| NCUSIF Deposit | 3,569,393 |
| All Other Assets | 0 |
| TOTAL ASSETS | 395,069,586 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 5,000,000 |
| Accounts Payable & Other Liabilities | 2,740,058 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 31,304,665 |
| Regular shares | 247,209,378 |
| All Other Shares & Deposits | 103,865,339 |
| TOTAL SHARES & DEPOSITS | 382,379,382 |
| TOTAL LIABILITIES | 390,119,440 |
| Regular Reserve | 0 |
| Other Reserves | -36,574,121 |
| Undivided Earnings | 41,524,267 |
| TOTAL EQUITY | 4,950,146 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 395,069,586 |
| INCOME & EXPENSE | |
| Loan Income | 2,207,003 |
| Investment Income | 3,824,654 |
| Other Income | 74,211 |
| Total Employee Compensation & Benefits | 1,530,816 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,835,615 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -32,581 |
| Cost of Funds | 1,070,802 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,572,773 |
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