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December 18, 2015
NCUA returns control of A.E.A. FCU
NCUA returned control of A.E.A. Federal Credit Union, based in Yuma, Ariz., to its members on Friday.
The credit union had been under conservatorship since December 2010 due to member business loan problems and declining finances. In January, NCUA reported that A.E.A. had improved its financial performance and member services.
"Much of the credit for this success goes to the hard work of A.E.A.'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."
A.E.A. was chartered in 1942, serves more than 34,000 members and has assets of more than $243 million. It is the second credit union to leave NCUA conservatorship in 2015.
The credit union had been under conservatorship since December 2010 due to member business loan problems and declining finances. In January, NCUA reported that A.E.A. had improved its financial performance and member services.
"Much of the credit for this success goes to the hard work of A.E.A.'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."
A.E.A. was chartered in 1942, serves more than 34,000 members and has assets of more than $243 million. It is the second credit union to leave NCUA conservatorship in 2015.
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