Dec, 31, 2023 — ARMSTRONG ASSOCIATES FEDERAL CREDIT UNION (AAFCU) is a federal credit union headquartered in KITTANNING, PA with 1 branch location and about $17.59 million in total assets. Opened 55 years ago in 1969, ARMSTRONG ASSOCIATES FEDERAL CREDIT UNION (AAFCU) has about 2,206 members and employs 4 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) | 201 N McKean St KITTANNING, PA 16201-1300 |
| Phone: | (724) 548-8722 |
| Fax: | (724) 545-1899 |
| Website: | https://aafcu4u.coop/ |
| Branches: | 1 branch locations |
| Members: | 2,206 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 19745 |
|---|---|
| Membership Type: | Multiple common bond - Primarily federal, state, local government |
| Corporate Credit Union: | No |
| Year Opened: | 1969 |
| Last Audited: | Dec 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $17,592,568 |
| CEO/Manager: | Sandra Garris |
| Chairperson: | James Robinson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 4,896,401 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 2,449 |
| Unsecured Loans | 759,684 |
| Other Loans | 1,623,027 |
| TOTAL LOANS | 2,385,160 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -12,927 |
| Land And Building | 0 |
| Other Fixed Assets | 14,975 |
| NCUSIF Deposit | 155,220 |
| All Other Assets | 0 |
| TOTAL ASSETS | 17,592,568 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 8,341 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 3,132,295 |
| Regular shares | 12,158,519 |
| All Other Shares & Deposits | 0 |
| TOTAL SHARES & DEPOSITS | 15,290,815 |
| TOTAL LIABILITIES | 15,299,156 |
| Regular Reserve | 0 |
| Other Reserves | 534,673 |
| Undivided Earnings | 1,758,739 |
| TOTAL EQUITY | 2,293,412 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 17,592,568 |
| INCOME & EXPENSE | |
| Loan Income | 106,289 |
| Investment Income | 381,086 |
| Other Income | 12,352 |
| Total Employee Compensation & Benefits | 176,943 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 154,907 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 4,969 |
| Cost of Funds | 33,263 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 146,774 |
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