Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
Condition improves at conserved Ariz.-based FCU
ALEXANDRIA, Va. (1/31/14)--The financial condition of AEA FCU, Yuma, Ariz., improved during the year just ended. The $234 million-asset credit union was placed into conservatorship in December 2010 to address its declining financial condition that regulators said stemmed from problems with its member business loan portfolio.

In a release Thursday, the National Credit Union Administration credited AEA's "strong commitment to member service" as the driver of its improved financial performance.

For the year ending Dec. 31, 2013, the credit union posted net income of $5.23 million, up from $3.15 million in 2012. Total assets at the end of the fourth quarter stood at $234 million, up $3 million from 2012, and the net worth ratio improved from 2012 by 70 basis points, ending the fourth quarter at 4.72%, the NCUA said.

The credit union has 41,000 members.


RSS





print
News Now LiveWire
At @FTC request, court halts operations of an alleged debt-relief scammer calling itself “FTC Credit Solutions.” http://t.co/qMsDBmKExH
3 hours ago
.@daytondailynews : The secret is out about #creditunions http://t.co/Aqu3pFTROV @DayAirCU @CODECreditUnion
4 hours ago
.@CUNA's @Nussle on @SenatorReid :(2of2)On behalf of more than 102M #CU members,I thank him 4 his leadership over the yrs/wish him the best.
6 hours ago
.@CUNA CEO Nussle on Sen. Reid’s decision not 2 seek re-election (1of2): Sen. Reid has a long history of #CU support throughout his career.
6 hours ago
#Jobless claims duck under 300K for 3rd straight week #Market #Economy http://t.co/jOsZWf9HNJ
6 hours ago