Aero Credit Union is headquartered in GLENDALE and is the 14st largest credit union in the state of Arizona. It is also the 898th largest credit union in the nation. It was established in 1958 and as of December of 2013, it had grown to 45 employees and 15,621 members. Aero Credit Union has a A+ health rating.
Field of Membership Restrictions
The first step in becoming a member of AERO Federal Credit Union is to determine if you are eligible to join. The membership page lists all of the companies currently in AERO's field of membership. If you are employed by any of these institutions, you are automatically eligible to become a member. You may also join AERO's membership if you have a relative who is currently a member. - See Details
Data for Q4 2013
Institution Health
Texas Ratio
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 Aero Credit Union had $131,000 in non-current loans and owned real-estate with $33.41 million in equity and loan loss allowances on hand to cover it. This gives Aero Credit Union a Texas Ratio of 0.39% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend
The Texas Ratio for Aero Credit Union decreased dramatically from 0.91% as of December 31, 2012 to 0.39% as of December 31, 2013, resulting in a positive change of 56.78%.This indicates that the balance sheet and financial strength for Aero Credit Union has improved dramatically in recent periods.
Deposit Growth
In the past year, Aero Credit Union has increased its total deposits by $6.58 million, resulting in 4.01% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Aero Credit Union has shown is excellent.
Capitalization
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Aero Credit Union has $205.16 million in assets with $33.41 million in equity, resulting in a capitalization level of 16.29%, which is excellent.
Institution Statistics
| Overall | |
|---|---|
| NCUA # | 12164 |
| Year Chartered | 1958 |
| Employees | 45 |
| Primary Regulator |
| Assets and Liabilities | |
|---|---|
| Assets | $205.16 million |
| Loans | $82.32 million |
| Deposits | $170.82 million |
| Equity Capital | $32.71 million |
| Loan Loss Allowance | $702,000 |
| Unbacked Noncurrent Loans | $131,000 |
| Real Estate Owned | $0 |
| Historic Data - December 2012 | |
|---|---|
| Assets | $197.79 million |
| Equity Capital | $32.51 million |
| Loan Loss Allowance | $1.22 million |
| Unbacked Noncurrent Loans | $131,000 |
| Real Estate Owned | $0 |
| Profit Margin - Quarterly | |
|---|---|
| Net Interest Margin | 3.97% |
| Return on Assets | 0.1% |
| Return on Equity | 0.61% |
| Interest Income | $4.52 million |
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Aero Credit Union Savings Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.25% | - | - | IRA Savings Account | |
| 0.25% | - | - | Roth IRA Savings Account | |
| 0.10% | - | - | Savings Account |
Aero Credit Union Money Market Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.25% | $100k | - | Money Market Savings Account |
Aero Credit Union Checking Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.05% | - | - | Checking Account |
Aero Credit Union CD Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.11% | $100k | - | 5 Year Jumbo Certificate | |
| 1.00% | $1k | - | 5 Year Share Certificate | |
| 0.60% | $100k | - | 3 Year Jumbo Certificate | |
| 0.50% | $1k | - | 3 Year Share Certificate | |
| 0.50% | $100k | - | 2 Year Jumbo Certificate | |
| 0.40% | $1k | - | 2 Year Share Certificate | |
| 0.30% | $100k | - | 1 Year Jumbo Certificate | |
| 0.25% | $100k | - | 6 Month Jumbo Certificate | |
| 0.20% | $1k | - | 1 Year Share Certificate | |
| 0.20% | $100k | - | 91 Day Jumbo Certificate | |
| 0.15% | $1k | - | 6 Month Share Certificate | |
| 0.10% | $2,500 | - | 91 Day Share Certificate |
| Aero Credit Union Locations | ||
|---|---|---|
| Branch Office | 18301 N 79th Ave Bldg A-100 | Glendale, AZ 85308 |
| Branch Office | 21111 N 19th Ave | Phoenix, AZ 85027 |
| Branch Office | 19019 N 59th Ave | Glendale, AZ 85308 |
| Branch Office | 9201 San Mateo Blvd NE | Albuquerque, NM 87113-2227 |
| Branch Office | 3401 E Air Ln Bldg 122 | Phoenix, AZ 85034 |
| Branch Office | 1300 W Warner Rd Bldg 1221 | Tempe, AZ 85284-2822 |
| Branch Office | 1944 E Sky Harbor Cir N | Phoenix, AZ 85034 |