Introduction to Afena

The credit union first came into existence in 1958 and has been operating for the last 64 years. Afena is based in the state of Indiana and is also the 45th largest credit union operating in the state; this is calculated based on its total assets. Unlike banks, credit unions like Afena are not insured by the Federal Deposit Insurance Corporation (FDIC) but instead receive deposit insurance from the National Credit Union Administration (NCUA), which operates in a similar fashion to the FDIC. The company has a total of 3 branches and employs a total of 30 employees.

Overview of the Credit Union’s Assets and Liabilities

The credit union currently has total assets of $83 million, total deposits of $74 million and net loans outstanding of $57 million. On average its members had a total of $9,199 deposited with the credit union – this is a helpful metric to monitor as it provides us with an idea of the level of engagement of the credit union’s membership base. The credit union also has a loan to deposit ratio of 77% which is higher than the average credit union of similar size. The loan to deposit ratio is a good way to assess how liquid a bank or credit union’s balance sheet is. Lastly, Afena’s loan portfolio mainly consists of auto loans and mortgages and lines of credit which represent 55% and 27% of its loan book and had outstanding balances of $31 million and $15 million, respectively.

Contact and Other Helpful Information

  • Main Office Address: 424 N Bradner Ave, Marion, IN 46952-3336
  • Website:
  • Phone: (765) 664-8089
  • Charter Number: 12153
  • Charter Year: 1958
  • Employees: 30
  • Routing Number: N/A
  • Membership: Afena has a membership base of 8,003 which is significantly smaller than the average credit union operating in the state of Indiana. The average credit union in the state has 19,458 members. Over the past three years, the credit union’s total base of members has increased by 3%.

Afena: Financial Overview


Detailed above is a chart showing the progression of four important balance sheet items over the past year for Afena. Assets and total loans for the credit union have increased by 17.5% and grown by 11.6%, respectively. In addition, the company’s auto loans, which as noted earlier is the largest portion of the loan book, has expanded by 7.0%. Lastly, the credit union’s deposits have grown by 22.1%. We like to look at a credit union’s net worth to get a sense of the performance of the entity over the years for its members. Afena has a total net worth of $7 million while the average credit union in the United States has a net worth of $41 million. This implies that the credit union has a net worth per member of $936 which is below the national average of $1,606.

Overview of the Credit Union’s Performance Metrics


In the above chart we have displayed three statistics that are important in evaluating a credit union’s performance and shown how Afena compares on these metrics, in addition to detailing how the credit union performed on each metric in the prior year. Starting with the company’s return on assets, on this metric Afena is well above the average credit union in its peer set and over the past year ROA has improved substantially with a total change of 0.41%. Return on assets tells us how productive a company is being with its asset base. The delinquency rate is a measure of what percentage of an entity’s loan book has fallen past due i.e. is delinquent. All else equal, a higher rate implies a worse performing loan portfolio. In the case of Afena its delinquency rate is approximately inline with its peers and over the past 12 months the credit union’s delinquency rate has improved substantially. The net worth ratio for the credit union is 9.0% and has declined compared with the prior year figure of 9.6%. The credit union is also below its peer group average of 10.2% on this metric. Finally, based on the NCUA guidelines, the company’s net worth ratio would classify it as well capitalized.


Our final rating for Afena, after assessing the credit union on what we consider to be the important metrics, is 2.7 out of 5.0, which is above average. Finally, please note that the rating information presented is based on our proprietary scoring system. None of the work presented is intended to be investment advice or advice of any sort and is presented purely for informational purposes.