Sep, 30, 2025 — AREA EDUCATIONAL CREDIT UNION is a federally insured state chartered credit union headquartered in MATTOON, IL with 1 branch location and about $31.56 million in total assets. Opened 66 years ago in 1960, AREA EDUCATIONAL CREDIT UNION has about 2,362 members and employs 6 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | AREA EDUCATIONAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 812 CHARLESTON AVE MATTOON, IL 61938 |
| Phone: | (217) 234-7817 |
| Fax: | (217) 235-2780 |
| Website: | https://www.myaecu.com |
| Branches: | 1 branch locations |
| Members: | 2,362 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 62500 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1960 |
| Last Audited: | Sep 01, 2024 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $31,555,020 |
| CEO/Manager: | KERRY J FEARN |
| Chairperson: | JAMES M COFFMAN |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 4,671,240 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 898,619 |
| Other Loans | 12,425,784 |
| TOTAL LOANS | 13,324,403 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -87,555 |
| Land And Building | 314,068 |
| Other Fixed Assets | 0 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 235,141 |
| All Other Assets | 0 |
| TOTAL ASSETS | 31,555,020 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 38,750 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 0 |
| Regular shares | 23,539,651 |
| All Other Shares & Deposits | 1,217,474 |
| TOTAL SHARES & DEPOSITS | 24,757,125 |
| TOTAL LIABILITIES | 24,795,875 |
| Regular Reserve | 0 |
| Other Reserves | 5,521,156 |
| Undivided Earnings | 1,237,989 |
| TOTAL EQUITY | 6,759,145 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 31,555,020 |
| INCOME & EXPENSE | |
| Loan Income | 641,890 |
| Investment Income | 560,341 |
| Other Income | 4,174 |
| Total Employee Compensation & Benefits | 269,916 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 213,359 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 17,800 |
| Cost of Funds | 373,965 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 337,989 |
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