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ARMSTRONG ASSOCIATES FEDERAL CREDIT UNION

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
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
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

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
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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