AEA financial reports available online

July 1, 2010

AEA financial reports available online

Posted: Updated:

Yuma, AZ July 6 -- Many AEA Federal Credit Union members have called KSWT News 13 asking for the credit union's latest financial reports.  They are no longer available on AEA's website.  KSWT News 13 investigated and found them on the National Credit Union Administration website.  You can access them by clicking here. 


AEA Federal Credit Union CEO confirms FBI investigation

Yuma, AZ July 1 -- Rumors have been swirling for weeks about the AEA Federal Credit Union.  Many of customers and employees of AEA have called our newsroom with concerns.  CEO Denise McGregor spoke with KSWT News 13 off-camera Thursday.

She said the FBI is conducting an investigation that involves AEA, but she says she can not elaborate on the details of the investigation.  (The following day, via email, Sweet-McGregor said she never confirmed the FBI investigation.)

In the same phone conversation on Thursday, McGregor also said the credit union's board of directors are still running the AEA. She said they have not been taken over by another entity.

In a release she sent to KSWT, Board Chairman Ray Drysdales says the credit union has a plan to strengthen the credit union's financial foundation.  "Our Board of Directors and executive management team already have implemented a plan that will refocus fiscal and human resources to best serve members and strengthen the Credit Union's financial foundation."

The release also mentions recent layoffs and the closure of the North End location.

When asked if the members money is safe McGregor says they have nothing to worry about.  She says deposits are federally insured up to 250-thousand dollars.

Click here to read the entire release.

Sweet-McGregor will not agree to an on-camera interview with KSWT News 13.


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