Dec, 31, 2023 — 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 $98.33 million in total assets. Opened 69 years ago in 1955, A.A.E.C. CREDIT UNION has about 4,092 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 |
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Address: (Main Office) | 1104 S Arlington Heights Rd ARLINGTON HEIGHTS, IL 60005-3141 |
Phone: | (847) 392-1922 |
Fax: | (847) 392-1926 |
Website: | https://www.aaeccu.com |
Branches: | 1 branch locations |
Members: | 4,092 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 60648 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1955 |
Last Audited: | Jun 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $98,328,696 |
CEO/Manager: | Rachel Noltner |
Chairperson: | Kelley Zerfahs |
ASSETS: | $ Amount |
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Cash & Equivalents | 4,574,210 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 31,503,251 |
Unsecured Loans | 4,172,539 |
Other Loans | 10,823,708 |
TOTAL LOANS | 46,499,497 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -285,339 |
Land And Building | 965,790 |
Other Fixed Assets | 34,961 |
NCUSIF Deposit | 811,251 |
All Other Assets | 0 |
TOTAL ASSETS | 98,328,696 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 812,669 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 11,408,653 |
Regular shares | 60,304,246 |
All Other Shares & Deposits | 12,052,211 |
TOTAL SHARES & DEPOSITS | 83,765,110 |
TOTAL LIABILITIES | 84,577,779 |
Regular Reserve | 0 |
Other Reserves | 1,667,015 |
Undivided Earnings | 12,083,902 |
TOTAL EQUITY | 13,750,917 |
TOTAL LIABILITIES, SHARES, & EQUITY | 98,328,696 |
INCOME & EXPENSE | |
Loan Income | 2,166,775 |
Investment Income | 885,864 |
Other Income | 76,330 |
Total Employee Compensation & Benefits | 870,611 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 731,556 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | -75,000 |
Cost of Funds | 800,478 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 878,541 |
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