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 |
| 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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» See also Statement of Financial Condition