According to its latest NCUA Call Report data, AEA Federal Credit Union has received a $20 million subordinated note.
A jury is currently hearing testimony in the case involving William Liddle, who was allegedly involved in a loan kickback scheme.
Nearly a year after AEA Federal Credit Union was placed under NCUA conservatorship, the financial institution is in court trying to recover some of the funds it allegedly lost in millions of dollars of soured business loans.
At the close of 2011’s second quarter, a handful of credit unions located in the sand states, where a teetering economy has made it most difficult for financial institutions to thrive, shared hopeful bits of news: net worth ratio improvements, net income increases, loan loss reductions and operating expense cutbacks.
This article will be among the news, features, analysis and insight filling the pages of the next print edition of Credit Union Times.
Credit unions of all sizes are knocking the ROA ball out of the park, according to this data gathered by Callahan & Associates.
PORTLAND, Ore. — When a loan officer was arrested and charged with participating in a business loan kickback scheme that ultimately led to AEA Federal Credit Union’s conservatorship in December 2010, the cooperative’s outcome looked bleak.
Faces sentencing in October; admits paying kickbacks for $22 million in loans for now failed kids park and nightclub.
A new series from the Georgia Department of Banking and Finance addresses the role of boards of directors at credit unions and banks.
January 2012 is the scheduled date for an alleged business loan fraud case involving AEA Federal Credit Union.