Dec, 31, 2021 — A.A.E.C. CREDIT UNION is a federally insured state chartered credit union headquartered in ARLINGTON HEIGHTS, IL with 1 branch location and about $101.24 million in total assets. Opened 67 years ago in 1955, A.A.E.C. CREDIT UNION has about 4,044 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 HEIGHTS, IL 60005-3141 |
| Phone: | (847) 392-1922 |
| Fax: | (847) 392-1926 |
| Website: | http://www.aaeccu.com |
| Branches: | 1 branch locations |
| Members: | 4,044 |
| 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, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $101,237,935 |
| CEO/Manager: | Jill Lindsay |
| Chairperson: | Thomas Adam |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 8,733,021 |
| TOTAL INVESTMENTS | 49,871,832 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 28,689,527 |
| Unsecured Loans | 3,970,079 |
| Other Loans | 7,729,743 |
| TOTAL LOANS | 40,389,349 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -425,540 |
| Land And Building | 1,004,222 |
| Other Fixed Assets | 63,183 |
| NCUSIF Deposit | 839,326 |
| All Other Assets | 762,542 |
| TOTAL ASSETS | 101,237,935 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 833,882 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 10,527,771 |
| Regular shares | 77,726,374 |
| All Other Shares & Deposits | 1,000 |
| TOTAL SHARES & DEPOSITS | 88,255,145 |
| TOTAL LIABILITIES | 89,089,027 |
| Regular Reserve | 1,772,776 |
| Other Reserves | -109,551 |
| Undivided Earnings | 10,485,683 |
| TOTAL EQUITY | 12,148,908 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 101,237,935 |
| INCOME & EXPENSE | |
| Loan Income | 1,729,196 |
| Investment Income | 471,322 |
| Other Income | 61,743 |
| Total Employee Compensation & Benefits | 957,537 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 618,537 |
| Non-operating Income & (Expense) | 1,500 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 160,076 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 878,727 |
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