Dec, 31, 2023 — ARMSTRONG ASSOCIATES FEDERAL CREDIT UNION is a federal credit union headquartered in FORD CITY, PA with 2 branch locations and about $72.08 million in total assets. Opened 66 years ago in 1958, ARMSTRONG ASSOCIATES FEDERAL CREDIT UNION has about 8,066 members and employs 19 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | ARMSTRONG ASSOCIATES FEDERAL CREDIT UNION |
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Address: (Main Office) | 414 Ford St FORD CITY, PA 16226 |
Phone: | (724) 763-1172 |
Fax: | (724) 763-9375 |
Website: | https://www.myaafcu.com |
Branches: | 2 branch locations |
Members: | 8,066 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 12438 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1958 |
Last Audited: | Sep 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $72,084,991 |
CEO/Manager: | Allan D King |
Chairperson: | Peter Hess |
ASSETS: | $ Amount |
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Cash & Equivalents | 7,669,272 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 10,603,398 |
Unsecured Loans | 6,394,960 |
Other Loans | 20,649,230 |
TOTAL LOANS | 37,647,588 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -198,552 |
Land And Building | 532,501 |
Other Fixed Assets | 90,940 |
NCUSIF Deposit | 653,123 |
All Other Assets | 0 |
TOTAL ASSETS | 72,084,991 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 461,991 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 9,548,416 |
Regular shares | 51,442,209 |
All Other Shares & Deposits | 2,041,921 |
TOTAL SHARES & DEPOSITS | 63,032,546 |
TOTAL LIABILITIES | 63,494,537 |
Regular Reserve | 0 |
Other Reserves | 1,405,000 |
Undivided Earnings | 7,185,454 |
TOTAL EQUITY | 8,590,454 |
TOTAL LIABILITIES, SHARES, & EQUITY | 72,084,991 |
INCOME & EXPENSE | |
Loan Income | 1,676,263 |
Investment Income | 1,329,524 |
Other Income | 338,047 |
Total Employee Compensation & Benefits | 1,136,646 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,358,809 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 157,138 |
Cost of Funds | 700,622 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 435,841 |
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