Dec, 31, 2023 — AREA EDUCATIONAL CREDIT UNION is a federally insured state chartered credit union headquartered in MATTOON, IL with 1 branch location and about $29.90 million in total assets. Opened 64 years ago in 1960, AREA EDUCATIONAL CREDIT UNION has about 2,360 members and employs 5 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 |
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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: | 2,360 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 62500 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1960 |
Last Audited: | Sep 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $29,898,348 |
CEO/Manager: | KERRY J FEARN |
Chairperson: | JAMES M COFFMAN |
ASSETS: | $ Amount |
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Cash & Equivalents | 3,188,376 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 0 |
Unsecured Loans | 790,352 |
Other Loans | 12,809,812 |
TOTAL LOANS | 13,600,164 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -90,740 |
Land And Building | 331,267 |
Other Fixed Assets | 0 |
NCUSIF Deposit | 242,367 |
All Other Assets | 0 |
TOTAL ASSETS | 29,898,348 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 53,135 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 0 |
Regular shares | 22,483,813 |
All Other Shares & Deposits | 1,155,777 |
TOTAL SHARES & DEPOSITS | 23,639,589 |
TOTAL LIABILITIES | 23,692,724 |
Regular Reserve | 0 |
Other Reserves | 5,905,624 |
Undivided Earnings | 300,000 |
TOTAL EQUITY | 6,205,624 |
TOTAL LIABILITIES, SHARES, & EQUITY | 29,898,348 |
INCOME & EXPENSE | |
Loan Income | 574,673 |
Investment Income | 456,533 |
Other Income | 5,652 |
Total Employee Compensation & Benefits | 330,136 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 262,912 |
Non-operating Income & (Expense) | 83,005 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 14,346 |
Cost of Funds | 273,181 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 253,627 |
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» See also Statement of Financial Condition