The Yuma, Ariz.-based, $229 million AEA FCU faces millions of dollars in bad loans and a relatively poor net worth ratio, according to its most recent Call Report from the NCUA.
The NCUA posted the Call Report just as the CU announced second-quarter progress with a year-to-date net income of $2.2 million following a $31 million loss last year. AEA FCU was placed under NCUA conservatorship in December 2010.
According to the Call Report, the CU's net worth ratio is at negative 7.74%, a miniscule improvement from its first-quarter net worth ratio of negative 7.77% but still lower than in December 2010, when the number dropped from 2% to negative 7.63%.
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