Mar, 31, 2021 — N A E FEDERAL CREDIT UNION is a federal credit union headquartered in Chesapeake, VA with 4 branch locations and about $136.72 million in total assets. Opened 56 years ago in 1965, N A E FEDERAL CREDIT UNION has about 15,336 members and employs 44 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | N A E FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 755 Battlefield Blvd N Chesapeake, VA 23320-5038 |
| Phone: | (757) 410-2000 |
| Fax: | (757) 410-2035 |
| Website: | http://www.naefcu.org |
| Branches: | 4 branch locations |
| Members: | 15,336 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 16706 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1965 |
| Last Audited: | Dec 01, 2020 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $136,719,914 |
| CEO/Manager: | Palmer L Stillman, Sr. |
| Chairperson: | Theodore R Thorbjornsen |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 41,955,462 |
| TOTAL INVESTMENTS | 8,934,966 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 2,150,409 |
| Unsecured Loans | 5,294,109 |
| Other Loans | 70,216,772 |
| TOTAL LOANS | 77,661,290 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -3,428,920 |
| Land And Building | 2,588,357 |
| Other Fixed Assets | 132,370 |
| NCUSIF Deposit | 993,568 |
| All Other Assets | 7,882,821 |
| TOTAL ASSETS | 136,719,914 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 4,155 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 2,644,870 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 23,563,328 |
| Regular shares | 42,429,192 |
| All Other Shares & Deposits | 50,040,949 |
| TOTAL SHARES & DEPOSITS | 116,033,469 |
| TOTAL LIABILITIES | 118,682,494 |
| Regular Reserve | 4,704,932 |
| Other Reserves | 2,085,494 |
| Undivided Earnings | 11,246,994 |
| TOTAL EQUITY | 18,037,420 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 136,719,914 |
| INCOME & EXPENSE | |
| Loan Income | 1,134,908 |
| Investment Income | 65,407 |
| Other Income | 191,390 |
| Total Employee Compensation & Benefits | 822,270 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 571,143 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 57,500 |
| Cost of Funds | 73,555 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 28,576 |
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