Dec, 31, 2020 — A.A.E.C. CREDIT UNION is a federally insured state chartered credit union headquartered in Arlington Heigh, IL with 1 branch location and about $92.19 million in total assets. Opened 66 years ago in 1955, A.A.E.C. CREDIT UNION has about 3,970 members and employs 9 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | A.A.E.C. CREDIT UNION |
|---|---|
| Address: (Main Office) | 1104 S Arlington Heights Rd Arlington Heigh, IL 60005-3141 |
| Phone: | (847) 392-1922 |
| Fax: | (847) 392-1926 |
| Website: | http://www.aaeccu.com |
| Branches: | 1 branch locations |
| Members: | 3,970 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 60648 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1955 |
| Last Audited: | Jun 01, 2020 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $92,193,694 |
| CEO/Manager: | Jill Lindsay |
| Chairperson: | Thomas Adam |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 16,164,084 |
| TOTAL INVESTMENTS | 37,499,812 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 24,539,646 |
| Unsecured Loans | 4,310,376 |
| Other Loans | 7,730,311 |
| TOTAL LOANS | 36,580,333 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -430,859 |
| Land And Building | 1,023,438 |
| Other Fixed Assets | 72,694 |
| NCUSIF Deposit | 744,310 |
| All Other Assets | 539,882 |
| TOTAL ASSETS | 92,193,694 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 537,010 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 8,976,456 |
| Regular shares | 71,393,303 |
| All Other Shares & Deposits | 0 |
| TOTAL SHARES & DEPOSITS | 80,369,759 |
| TOTAL LIABILITIES | 80,906,769 |
| Regular Reserve | 1,772,776 |
| Other Reserves | -92,808 |
| Undivided Earnings | 9,606,957 |
| TOTAL EQUITY | 11,286,925 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 92,193,694 |
| INCOME & EXPENSE | |
| Loan Income | 1,739,791 |
| Investment Income | 810,240 |
| Other Income | 100,048 |
| Total Employee Compensation & Benefits | 843,182 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 674,445 |
| Non-operating Income & (Expense) | 2,000 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 267,019 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 867,433 |
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