ALEXANDRIA, Va. (Dec. 18, 2015) – AEA Federal Credit Union of Yuma, Arizona, is once again under the control of its members, the National Credit Union Administration announced today.
“Much of the credit for this success goes to the hard work of AEA’s leadership team, credit union staff and the loyal membership,” NCUA Board Chairman Debbie Matz said. “Working collaboratively with the agency, they were able to bring A.E.A. through a conservatorship, stabilize the credit union and continue providing services to members.”
NCUA placed AEA into conservatorship in December 2010. Under NCUA’s guidance, AEA revamped operations, improved lending controls, reduced expenses and continued to meet member’s needs. Net worth at the credit union continues to grow through strong earnings.
AEA is the second credit union to emerge from NCUA conservatorship in 2015.
Chartered in 1942, AEA Federal Credit Union serves 34,326 members and has assets of more than $243 million. AEA operates five branches, and membership is open to individuals and their family members who live, work, worship or attend school in Yuma and La Paz counties in Arizona.