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AREA EDUCATIONAL CREDIT UNION

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.


ABA Routing Number: 271186122
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:2,360
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, 2023
FHLB Member:No
Low Income Designation:No
Assets:$29,898,348
CEO/Manager:KERRY J FEARN
Chairperson:JAMES M COFFMAN

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
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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