According to its latest NCUA Call Report data, AEA Federal Credit Union has received a $20 million subordinated note.
The liability, shares and equity page of the report dated Jan. 27, showed the note was deposited in December 2011 and includes unsecured secondary capital. Subtracting the note from AEA's balance sheet appears to push its net worth to negative 6.6%.
The NCUA placed the $230 million, 42,000-member AEA in conservatorship in December 2010 due to inadequate capital, insufficient earnings and a financially troubled loan portfolio, the agency said at the time.
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