Dec, 31, 2023 — N A E FEDERAL CREDIT UNION is a federal credit union headquartered in CHESAPEAKE, VA with 4 branch locations and about $128.44 million in total assets. Opened 59 years ago in 1965, N A E FEDERAL CREDIT UNION has about 12,703 members and employs 44 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | N A E FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 755 BATTLEFIELD BLVD N CHESAPEAKE, VA 23320-5038 |
| Phone: | (757) 410-2000 |
| Fax: | (757) 410-2035 |
| Website: | https://www.naefcu.org |
| Branches: | 4 branch locations |
| Members: | 12,703 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 16706 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1965 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $128,443,735 |
| CEO/Manager: | Palmer L Stillman, Sr. |
| Chairperson: | Roger Emory |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 15,743,973 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 1,045,989 |
| Unsecured Loans | 5,486,004 |
| Other Loans | 86,535,164 |
| TOTAL LOANS | 93,067,157 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -3,994,941 |
| Land And Building | 3,349,055 |
| Other Fixed Assets | 168,470 |
| NCUSIF Deposit | 1,021,414 |
| All Other Assets | 0 |
| TOTAL ASSETS | 128,443,735 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 23,563 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 3,017,239 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 23,549,509 |
| Regular shares | 40,275,590 |
| All Other Shares & Deposits | 42,348,174 |
| TOTAL SHARES & DEPOSITS | 106,173,273 |
| TOTAL LIABILITIES | 109,214,075 |
| Regular Reserve | 0 |
| Other Reserves | 7,420,642 |
| Undivided Earnings | 11,809,018 |
| TOTAL EQUITY | 19,229,660 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 128,443,735 |
| INCOME & EXPENSE | |
| Loan Income | 4,903,613 |
| Investment Income | 1,134,950 |
| Other Income | 818,420 |
| Total Employee Compensation & Benefits | 3,569,483 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,958,375 |
| Non-operating Income & (Expense) | -206 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 220,000 |
| Cost of Funds | 477,899 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 228,178 |
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