Dec, 31, 2023 — F A A FEDERAL CREDIT UNION is a federal credit union headquartered in MEMPHIS, TN with 6 branch locations and about $123.89 million in total assets. Opened 70 years ago in 1954, F A A FEDERAL CREDIT UNION has about 8,322 members and employs 30 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | F A A FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 3920 Whitebrook Dr MEMPHIS, TN 38118-3717 |
| Phone: | (901) 366-0066 |
| Fax: | (901) 366-0278 |
| Website: | https://www.faafcu.org |
| Branches: | 6 branch locations |
| Members: | 8,322 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 9639 |
|---|---|
| Membership Type: | Multiple common bond - Primarily federal, state, local government |
| Corporate Credit Union: | No |
| Year Opened: | 1954 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $123,893,125 |
| CEO/Manager: | Angie Vajdak |
| Chairperson: | Chris Syriac |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 9,325,150 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 20,989,714 |
| Unsecured Loans | 4,488,150 |
| Other Loans | 24,517,614 |
| TOTAL LOANS | 49,995,478 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -712,500 |
| Land And Building | 3,682,135 |
| Other Fixed Assets | 18,683 |
| NCUSIF Deposit | 1,100,151 |
| All Other Assets | 0 |
| TOTAL ASSETS | 123,893,125 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,193,483 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 38,952,521 |
| Regular shares | 50,489,324 |
| All Other Shares & Deposits | 16,636,886 |
| TOTAL SHARES & DEPOSITS | 106,078,731 |
| TOTAL LIABILITIES | 107,272,214 |
| Regular Reserve | 0 |
| Other Reserves | -2,209,818 |
| Undivided Earnings | 18,830,729 |
| TOTAL EQUITY | 16,620,911 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 123,893,125 |
| INCOME & EXPENSE | |
| Loan Income | 2,718,398 |
| Investment Income | 2,384,983 |
| Other Income | 717,525 |
| Total Employee Compensation & Benefits | 2,071,656 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,990,505 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 361,074 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,819,141 |
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