AAEC CREDIT UNION

EIN: 362364054

ARLINGTON HEIGHTS, IL

Total Revenue
$4,054,418
Total Expenses
$3,294,693
Total Assets
$106,878,953
Net Assets
$13,579,298
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1955
Legal Domicile
IL
Principal Officer
RACHEL M NOLTNER
Phone
8473921922
Tax Period
2024-01-01 to 2024-12-31

AAEC CREDIT UNION, founded in 1955, is a community nonprofit that reported $4.1M in total revenue in fiscal year 2024. Revenue surged 26% from the prior year, signaling strong growth momentum. The organization ran a surplus of $760K, a strong 19% operating margin.

Mission

CREDIT UNION OPERATED FOR MUTUAL PURPOSES TO PROMOTE THRIFT AND PROVIDE LOW COST LOANS TO MEMBERS.

Program Service Accomplishments

Program 1

ENCOURAGE THRIFT AMONG MEMBERS. ENABLE MEMBERS TO IMPROVE THEIR NET WORTH.

Program 2

CREATE A SOURCE OF CREDIT AT A REASONABLE RATE OF INTEREST FOR MEMBERS OF THE CREDIT UNION. AT DECEMBER 31, 2024, THERE WERE 2,171 LOANS AND CREDIT CARDS OUTSTANDING TO MEMBERS.

Program 3

PROVIDE AN OPPORTUNITY FOR MEMBERS TO USE AND CONTROL THEIR OWN MONEY IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $2,876,385
Investment Income $1,178,033
Other Revenue $0
TOTAL REVENUE $4,054,418

Expense Breakdown

Grants Paid $12,411
Salaries & Benefits $839,371
Fundraising Expenses $0
Other Expenses $2,442,911
TOTAL EXPENSES $3,294,693

Year-over-Year Comparison

2024 2023 Change
Revenue $4,054,418 $3,206,186 +0.3%
Expenses $3,294,693 $2,327,645 +0.4%
Net Income $759,725 $878,541 -0.1%
Key Indicators
✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
9
Independent Members
9
Employees
19
Volunteers
9

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
1
$138,200
Total Directors
9
$0
Key Employees
1
$138,200
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
THOMAS ADAM DIRECTOR 1.50
Director
$0 $0 $0
SCOTT GUSTAFSON DIRECTOR 0.50
Director
$0 $0 $0
SEEMA KURUP DIRECTOR 0.50
Director
$0 $0 $0
JOHN MEYERS JR DIRECTOR 0.50
Director
$0 $0 $0
NANCY MILNE DIRECTOR 0.50
Director
$0 $0 $0
JAN PHILLIPS DIRECTOR 1.50
Director
$0 $0 $0
ERIC SWANSON DIRECTOR 0.50
Director
$0 $0 $0
KELLEY ZERFAHS DIRECTOR 0.50
Director
$0 $0 $0
WILLIAM TIMMINS DIRECTOR 0.50
Director
$0 $0 $0
RACHEL M NOLTNER PRESIDENT 40.00
Officer Key Emp Highest
$138,200 $0 $138,200
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 $4,054,418 $3,294,693 $106,878,953 $759,725
2023 $3,206,186 $2,327,645 $98,327,683 $878,541
2022 $2,569,769 $1,800,091 $100,605,056 $769,678
2021 $2,614,877 $1,736,152 $101,236,695 $878,725
2020 $2,652,079 $1,784,646 $92,193,677 $867,433
2019 $2,830,465 $1,926,548 $80,259,682 $903,917
2018 $2,565,197 $1,896,968 $81,884,092 $668,229
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