Sep, 30, 2022 — N A E FEDERAL CREDIT UNION is a federal credit union headquartered in CHESAPEAKE, VA with 4 branch locations and about $136.27 million in total assets. Opened 58 years ago in 1965, N A E FEDERAL CREDIT UNION has about 13,498 members and employs 39 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: | https://www.naefcu.org |
| Branches: | 4 branch locations |
| Members: | 13,498 |
| 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, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $136,265,725 |
| CEO/Manager: | Palmer L Stillman, Sr. |
| Chairperson: | Theodore R Thorbjornsen |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 25,601,424 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 1,462,216 |
| Unsecured Loans | 5,897,762 |
| Other Loans | 84,456,917 |
| TOTAL LOANS | 91,816,895 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -3,736,614 |
| Land And Building | 2,388,930 |
| Other Fixed Assets | 107,741 |
| NCUSIF Deposit | 994,390 |
| All Other Assets | 0 |
| TOTAL ASSETS | 136,265,725 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 2,284 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 3,348,805 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 24,080,453 |
| Regular shares | 44,694,758 |
| All Other Shares & Deposits | 45,211,944 |
| TOTAL SHARES & DEPOSITS | 113,987,155 |
| TOTAL LIABILITIES | 117,338,244 |
| Regular Reserve | 0 |
| Other Reserves | 7,400,212 |
| Undivided Earnings | 11,527,269 |
| TOTAL EQUITY | 18,927,481 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 136,265,725 |
| INCOME & EXPENSE | |
| Loan Income | 3,035,243 |
| Investment Income | 383,758 |
| Other Income | 668,380 |
| Total Employee Compensation & Benefits | 2,451,235 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,913,467 |
| Non-operating Income & (Expense) | 237,882 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 193,570 |
| Cost of Funds | 102,339 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 148,021 |
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