2.5 star ratingAverage User Rating:
2.5 star rating based on 3 reviews.

Air Academy Federal Credit Union

Air Academy Federal Credit Union Locations
9810 N. Union Blvd.
Colorado Springs, CO 80924
719-593-8600
www.aafcu.com



Air Academy Federal Credit Union is headquartered in COLORADO SPRING and is the 8th largest credit union in the state of Colorado. It is also the 466th largest credit union in the nation. It was established in 1955 and as of September of 2011, it had grown to 141 employees and 41,878 members. Air Academy Federal Credit Union has a 3-star health rating.

Air Academy Federal Credit Union Routing Number: 307070021

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See Rates for: Checking | Savings | CD | IRA

Air Academy Federal Credit Union Checking Account Rates

ApyMinMaxProduct
1.50%-$25kMAAXIMUM Checking

Air Academy Federal Credit Union Savings Account Rates

ApyMinMaxProduct
0.40%$50k-Money Fund
0.30%$25k-Health Savings Account
0.15%--Share Account
0.15%--IRA Share Account
0.15%--Roth IRA Share Account
0.15%--Education IRA Share Account

Air Academy Federal Credit Union CD Rates

ApyMinMaxProduct
2.45%$10k-60 Month CD
2.00%$10k-48 Month CD
1.45%$10k-36 Month CD
1.21%$10k-24 Month CD
0.70%$10k-12 Month CD
0.55%$10k-6 Month CD

Air Academy Federal Credit Union IRA Rates

ApyMinMaxProduct
2.45%$10k-60 Month IRA
2.45%$10k-60 Month Roth IRA
2.45%$10k-60 Month Educational IRA
2.00%$10k-48 Month IRA
2.00%$10k-48 Month Roth IRA
2.00%$10k-48 Month Educational IRA
1.45%$10k-36 Month IRA
1.45%$10k-36 Month Roth IRA
1.45%$10k-36 Month Educational IRA
1.21%$10k-24 Month IRA
1.21%$10k-24 Month Roth IRA
1.21%$10k-24 Month Educational IRA
0.70%$10k-12 Month IRA
0.70%$10k-12 Month Roth IRA
0.70%$10k-12 Month Educational IRA

Rates updated: 2/11/2012

Data for Q3 2011


Institution Statistics


AIR ACADEMY
NCUA #10600
BankRate ReportView
Year Established1955
Employees141
Primary Regulator

Assets and Liabilities

Assets$419.54 million
Loans$308.52 million
Deposits$380.96 million
Equity Capital$34.49 million
Loan Loss Allowance$1.98 million
Unbacked Noncurrent Loans$5.54 million
Real Estate Owned$3.54 million

Historic Data - September 2010

Assets$414.05 million
Equity Capital$33.80 million
Loan Loss Allowance$1.77 million
Unbacked Noncurrent Loans$3.78 million
Real Estate Owned$4.71 million

Profit Margin - Quarterly

Net Interest Margin2.9%
Return on Assets-0.02%
Return on Equity-0.3%
Interest Income$10.76 million
Non-Interest Income$5.19 million

Institution Health


Overall Score:
3 out of 5
3
Texas Ratio3
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 September 30, 2011 Air Academy Federal Credit Union had $9.08 million in non-current loans and owned real-estate with $36.47 million in equity and loan loss allowances on hand to cover it. This gives Air Academy Federal Credit Union a Texas Ratio of 24.89% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend3
The Texas Ratio for Air Academy Federal Credit Union held steady from 23.89% as of September 30, 2010 to 24.89% as of September 30, 2011, resulting in a negative change of 4.18%. This indicates that the balance sheet and financial strength for Air Academy Federal Credit Union has held steady in recent periods.
Deposit Growth4
In the past year, Air Academy Federal Credit Union has increased its total deposits by $6 million, resulting in 1.6% 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 Air Academy Federal Credit Union has shown is above average.
Capitalization3
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. Air Academy Federal Credit Union has $419.54 million in assets with $36.47 million in equity, resulting in a capitalization level of 8.69%, which is average.
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Darold Kern At AAFCU Was Extremely Informed And Helpful
5 stars - RobandKerraMM - Monday, September 27, 2010 - 7:03 PM

We have done several loans through Darold Kern at AAFCU and have always appreciated his professionalism and courtesy.  He kept us informed in a timely manner and helped us in looking at several options until we found the best product for our unique situation.  His understanding of the loan industry allowed us to get financing for our home when we had been told by other institutions that it wouldn't work. We will happily continue to do business with Darold Kern and AAFCU

4

Member Of The AAFCU
1 stars - Bryan_mehrer - Monday, August 30, 2010 - 12:32 PM

I do not recommend this credit union for any financial services.  I have been an Air Academy Federal Credit Union member since 1989. The Last payment to the vehicles they couldn’t fine my title they were holding It took them months have new titles for me.  I was 3 days late on my credit card payment they charge me 35% interest for three years.  So paid off the credit card and left $230 in the saving thinking I was going to make .02% interested on it.  Wrong answer they charged my account with fees just nickel and dime it away.

I feel sorry for the military personnel who are oversea and making the comment to our country and have to deal with a finance Institutions in the states which is causing financial stress on our military personnel.

4

STAY AWAY FROM [Name Removed] AT AAFCU!
1 stars - aeschuermann - Thursday, August 26, 2010 - 8:54 PM

My husband and I were working on a home refinance with [Name Removed] of AAFCU. My husband specifically asked [Name Removed] many times (documented through email), that he was to deal with me regarding our home re-finance. [Name Removed] instead decided to only email or call my husband regarding the refi, despite several requests made to deal with me. He stressed how futile it would be to shop around, and that we had to order an appraisal right away. Upon submitting our application, [Name Removed] did not follow up with us at all. After 2 1/2 weeks, we asked him about the status, and still did not receive a response. I had to call him and catch him in his office to get him to talk to me. I mentioned that I am the beneficiary of a family trust, and after faxing a statement that proved my holdings, he still told my husband, "I married a women who said that she had money once, and it turned out to not be true." I asked him several times to do me the courtesy of following up with us when he said that he was going to, and he never did. Even though the appraisal was complete, and he was made aware of this, he asked us to go ahead and order the appraisal. It was obvious that he didn't know what he had and what he didn't have in terms of our loan package. We would have to chase him down and offer to provide him with information, and when we did, he would ask for it again. He told me that he "didn't get my email" that contained an essential piece of information, and then asked for it a second time. All in all, we wasted almost 3 months dealing with this. We heard empty promises, were asked to provide information that we had already given, my personal integrity was questioned by this guy to my husband, even though he had proof that I was telling the truth. His excuse was always, "I'm so busy," or "I played hooky from work to spend time with my son," or "my underwriter was on vacation, etc." Requests for status updates went unanswered, and when we did get our final answer, it was in email form, to my husband only of course. [Name Removed] is an insult to a profession that I have first-hand experience working in, myself having almost 7 years experience in the financial industry.  

4