AMERICAN EAGLE FINANCIAL CREDIT UN… - Form 990 Financial Data

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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

1935

Legal Domicile

Principal Officer

HOWARD BRADY

Phone

8008420145

Tax Period

2024-01-01 to 2024-12-31

AMERICAN EAGLE FINANCIAL CREDIT UNION, founded in 1935, is a major nonprofit in the Public & Societal Benefit sector that reported $127.1M in total revenue in fiscal year 2024. Revenue grew 14% year-over-year, indicating healthy expansion. Expenses of $116.5M left a modest 8% surplus.

Mission

OUR MISSION IS TO ENRICH THE LIVES OF OUR MEMBERS AND COMMUNITIES TO CREATE A WORLD WHERE FINANCIAL FREEDOM IS A REALITY. OUR VALUES ARE CARING, TRUST AND DEPENDABILITY.

Program Service Accomplishments

Program 1

DURING 2024, AMERICAN EAGLE FINANCIAL CREDIT UNION (AEFCU), A STATE-CHARTERED CREDIT UNION LOCATED IN THE STATE OF CONNECTICUT, PROVIDED FINANCIAL SERVICES TO MEMBERS WHO LIVE, WORK, WORSHIP, OR...

DURING 2024, AMERICAN EAGLE FINANCIAL CREDIT UNION (AEFCU), A STATE-CHARTERED CREDIT UNION LOCATED IN THE STATE OF CONNECTICUT, PROVIDED FINANCIAL SERVICES TO MEMBERS WHO LIVE, WORK, WORSHIP, OR ATTEND SCHOOL IN THE HARTFORD, TOLLAND, NEW HAVEN, AND MIDDLESEX COUNTIES IN CONNECTICUT. AEFCU CONTINUED TO FULFILL ITS EXEMPT STATUS BY PROVIDING CREDIT AT FAIR AND REASONABLE RATES OF INTEREST, OFFERING COMPETITIVE SHARE DEPOSIT PRODUCTS, AND PROVIDING MEMBERS WITH THE OPPORTUNITY TO IMPROVE THEIR ECONOMIC CONDITION. IN 2024, MEMBERSHIP GREW FROM 183,386 TO 187,792 MEMBERS. THERE WERE 7,757 LOANS GRANTED DURING THE YEAR TOTALING APPROXIMATELY $245,033,000. DEPOSITS GREW FROM 367,429 ACCOUNTS TO 375,355 ACCOUNTS. TOTAL DEPOSITS AS OF DECEMBER 31, 2024 APPROXIMATED $2,255,432,000. AEFCU ALSO CONDUCTED SEMINARS FOR ITS MEMBERSHIP THAT RANGED FROM FINANCIAL LITERACY TO FIRST TIME HOME BUYING.

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $88,355,137

Investment Income $39,056,422

Other Revenue $-302,057

TOTAL REVENUE $127,109,502

Expense Breakdown

Grants Paid $186,552

Salaries & Benefits $38,083,802

Fundraising Expenses $0

Other Expenses $78,231,874

TOTAL EXPENSES $116,502,228

Year-over-Year Comparison

	2024	2023	Change
Revenue	$127,109,502	$111,975,380	+0.1%
Expenses	$116,502,228	$98,956,335	+0.2%
Net Income	$10,607,274	$13,019,045	-0.2%

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

Governance

Voting Members

Independent Members

Employees

362

Volunteers

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

$1,261,144

Total Directors

$94,241

Key Employees

$2,136,861

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RAYMOND C GANDY	CHAIRPERSON	2.00	Director	$8,485	$0	$8,485
MICHAEL W HAWMAN	1ST VICE CHAIRPERSON	2.00	Director	$21,010	$0	$21,010
ALLISON W BURCH	2ND VICE CHAIRPERSON	2.00	Director	$2,094	$0	$2,094
MARK P ALLEN	DIRECTOR	2.00	Director	$16,322	$0	$16,322
MICHAEL ROGERS	DIRECTOR	2.00	Director	$4,725	$0	$4,725
MICHAEL P DEPASQUALE	DIRECTOR	2.00	Director	$15,318	$0	$15,318
JOSEPH PLOSZAY	SECRETARY	2.00	Director	$1,238	$0	$1,238
KENNETH D STEVENSON	DIRECTOR	2.00	Director	$7,291	$0	$7,291
JOSEPH R CAMPOSEO	DIRECTOR	2.00	Director	$3,324	$0	$3,324
ANGELA BULL	DIRECTOR	2.00	Director	$4,798	$0	$4,798
ANN LISA BURGARELLA	DIRECTOR	2.00	Director	$9,636	$0	$9,636
HOWARD BRADY	PRESIDENT/CEO	40.00	Officer	$822,937	$31,749	$854,686
LARRY MICHAUD	SVP/CFO	40.00	Officer	$364,119	$42,339	$406,458
BRIAN KENNEDY	EVP/CS&RO	40.00	Key Emp	$510,023	$45,765	$555,788
DIANNA WILSON	SVP/CX&LO	40.00	Key Emp	$366,012	$62,169	$428,181
TERESA KNOX	EVP/COO	40.00	Key Emp	$354,946	$19,267	$374,213
JAMES EVANS	SVP/CIO	40.00	Key Emp	$342,977	$62,754	$405,731
RYAN MCELENEY	SVP/CP&CO	40.00	Key Emp	$316,531	$56,417	$372,948
PAMELA VILLANOVA	SVP DIGITAL SOLUTIONS	40.00	Highest	$243,354	$52,265	$295,619
ANN-MARIE KATZER	SVP RETAIL DELIVERY	40.00	Highest	$241,067	$44,259	$285,326
ANN RILEY	VICE PRESIDENT PROCESS EXCELLENCE	40.00	Highest	$218,535	$50,583	$269,118
KHALED AHMED	VP INFORMATION TECHNOLOGY	40.00	Highest	$209,071	$58,465	$267,536
CHRISTINE WILLEY	VP ENTERPRISE RISK & SECURITY OFFICER	40.00	Highest	$203,520	$37,944	$241,464

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
2024	$127,109,502	$116,502,228	$2,553,224,116	$10,607,274
2023	$111,975,380	$98,956,335	$2,699,085,948	$13,019,045
2022	$96,740,977	$70,211,485	$2,508,286,522	$26,529,492
2021	$80,581,273	$71,393,640	$2,355,398,570	$9,187,633
2020	$82,222,999	$80,975,037	$2,185,404,432	$1,247,962
2019	$90,739,788	$79,908,583	$2,045,638,926	$10,831,205
2018	$79,778,985	$66,775,538	$1,809,998,115	$13,003,447

AMERICAN EAGLE FINANCIAL CREDIT UNION