The $238 million AEAFederal Credit Union in Yuma, Ariz., reported net income of$3.8 million for 2014, while operating under a conservatorship.

In 2013, the credit union's net income was $5.23 million and $3.15 million the year before.The 40,000-member AEA also reported a net worth ratio of 5.23%,which grew by 51 basis points from the prior year.

Loans increased by $9.5 million in 2014 compared to the previousyear, led by an increase in auto lending.

“An important factor in AEA's positive performance was theirdetermination and dedication to maintain a strategic focusthroughout 2014,” Elizabeth Whitehead, NCUA Region V director andagent for the conservator, said. “By focusing on three mainobjectives – financial sustainability, community banking and afocus on people – AEA's management team and staff were able to makesignificant and impressive progress toward sustained growth andprofitability.”

Chartered in 1942, AEA was placed into conservatorship in December 2010 by the NCUA to address itsdeclining financial condition that stemmed from problems with itsmember business loan portfolio.

Membership in the credit union is open to individuals who live,work or worship in Yuma or La Paz counties.