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 |
|---|---|
| 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 |
|---|---|
| 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 |
|---|---|
| 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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