2023-04-21T14:09:54-05:00 2022-12-31 251622758 MAHER DUESSEL CPA'S 503 MARTINDALE STREET SUITE 600 PITTSBURGH PA 15212 990 2022-01-01 251113410 ARMCO CREDIT UNION ARMC 7242842020 101 HOLLYWOOD DRIVE PO BOX 1589 BUTLER PA 160031589 RANDALL W CYPHER CEO 7242842020 2023-04-21 1 RANDALL CYPHER 999009999 0 TIMOTHY J MORGUS P00229535 4124715500 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z RANDALL W CYPHER 101 HOLLYWOOD DRIVE BUTLER PA 160031589 20970795 0 X WWW.ARMCOCU.COM X 1935 PA THE CREDIT UNION IS AN ASSOCIATION OF MEMBERS DEDICATED TO SERVICING MEMBERS'FINANCIAL NEEDS THROUGH THE PROVISION OF SAVINGS ACCOUNTS, LOANS, AND OTHER FINANCIAL SERVICES. 9 9 108 15 17868471 0 1051 46 16318120 17868471 361425 1504945 18494 1597333 16699090 20970795 0 0 0 0 5905879 6640534 0 0 0 6941115 7680836 12846994 14321370 3852096 6649425 508350519 531376072 445571294 461947422 62779225 69428650 THE CREDIT UNION IS AN ASSOCIATION OF MEMBERS DEDICATED TO SERVICING MEMBERS' FINANCIAL NEEDS THROUGH THE PROVISION OF SAVINGS ACCOUNTS, LOANS, AND OTHER FINANCIAL SERVICES. 0 0 14321370 17868471 THE CREDIT UNION HAS ACHIEVED STEADY GROWTH IN ASSETS AND MEMBERSHIP THROUGH OFFERING VARIOUS FINANCIAL VEHICLES AND OPPORTUNTITIES TO ITS MEMBERS. 14321370 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 9605 0 108 0 1 1 0 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X THOMAS DALLER 7242842020 101 HOLLYWOOD DRIVE BUTLER PA 16001 SARAH RATTIGAN BOARD MEMBER 1.00 X 0 0 0 DAVID E HILLIARD BOARD MEMBER 1.00 X 0 0 0 VICTORIA HINTERBERGER BOARD MEMBER 1.00 X 0 0 0 MATTHEW J STEWART BOARD MEMBER 1.00 X 0 0 0 IAN D FERGUSON BOARD MEMBER 1.00 X 0 0 0 LORI E ALTMAN BOARD MEMBER 1.00 X 0 0 0 JAMES A HRABOSKY PRESIDENT OF THE BOARD 1.00 X X 0 0 0 JOHN D GIBSON JR VICE PRESIDENT 1.00 X X 0 0 0 DAVID R BACHER TREASURER/SECRETARY 1.00 X X 0 0 0 RANDALL W CYPHER CEO 40.00 X 273927 0 45935 DENNIS FEHL EXECUTIVE VICE PRESIDENT 40.00 X 159887 0 37950 JOSEPH MALLOY ASSISTANT MANAGER 40.00 X 95653 0 16942 RAY MUTH IT MANAGER 40.00 X 129069 0 38304 658536 0 139131 3 0 1 0 JACK HENRY & ASSOCIATES INC PO BOX 609 MONETT MO 65708 COMPUTER SOFTWARE 374353 DIEBOLD PO BOX 643543 PITTSBURGH PA 15264 ATM SERVICES 229097 PINNACLE DATA SYSTEMS LLC PO BOX 102017 BIRMINGHAM AL 35210 IT SERVICES 174835 FINANCIAL DIMENSIONS INC 7025 CLAIRTON RD WEST MIFFLIN PA 15122 APPRAISAL SERVICES 165273 4 46 46 INTEREST ON LOANS 522100 13644781 13644781 FEES AND CHARGES 522100 3353344 3353344 INSURANCE 522100 818015 818015 SERVICE INCOME ON LOANS 522100 52331 52331 17868471 1504945 1504945 AMORTIZATION OF PENSION LIABILITY 522100 1582321 1582321 NON-MEMBER ATM FEES 522100 15012 15012 1597333 20970795 1597333 17868471 1504945 X 529467 4261562 328799 1140727 379979 59154 45568 1472867 232421 210992 706192 426830 3650 1442504 593131 72044 OTHER EXPENSES 959466 PROVISION FOR LOAN LOSS 628356 LOAN SERVICING 588211 POSTAGE AND SHIPPING 239450 14321370 3572256 3266791 139741641 75656998 8098608 1778203 326992904 419913210 403417 453787 19490119 7147458 12641845 12342661 3071557 2270795 13828291 15693627 508350519 531376072 896980 1252106 722750 634250 3332530 443951564 456728536 445571294 461947422 X 0 0 0 0 62779225 69428650 62779225 69428650 508350519 531376072 6649425 0 X X 0 1 X 1 0 2188120 2188120 12762358 3332724 9429634 3037709 2384017 653692 1501932 1430717 71215 12342661 MEMBERS' SHARES 456470225 ACCRUED DIVIDENDS PAYABLE 258311 456728536 19388428 0 19388428 1582367 1582367 20970795 14321370 0 14321370 0 14321370 PART XI, LINE 4B - OTHER ADJUSTMENTS: MEMBERSHIP FEES 46. NET CHANGE IN NET PENSION ASSET/LIAB. REPORTED IN OTHER COMPREHENSIVE INCOME 1,582,321. SCHEDULE D, PART XI, LINE 4B PART XI - LINE 4B - OTHER REVENUE THE CREDIT UNION RECEIVED $46 IN MEMBER FEES DURING THE YEAR WHICH ARE INCLUDED ON THE AUDITED FINANCIAL STATEMENTS AS PART OF THE ORGANIZATION'S REGULAR RESERVE MEMBER'S EQUITY ACCOUNTS. IN ADDITION, THE CREDIT UNION REPORTED A CHANGE IN THE NET PENSION LIABILITY OF THE ORGANIZATION TOTALING $-408,374, WHICH IS INCLUDED ON THE AUDITED FINANCIAL STATEMENTS AS PART OF THE ORGANIZATION'S ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) EQUITY ACCOUNT. X X X X 0 0 0 RANDALL W CYPHER CEO 273927 0 0 0 0 0 22333 0 23602 0 319862 0 0 0 DENNIS FEHL EXECUTIVE VICE PRESIDENT 159887 0 0 0 0 0 13038 0 24912 0 197837 0 0 0 RAY MUTH IT MANAGER 129069 0 0 0 0 0 10521 0 27783 0 167373 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION IS A NOT-FOR-PROFIT FINANCIAL COOPERATIVE, OWNED COMPLETELY BY OUR MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE CREDIT UNION ELECT THE BOARD OF DIRECTORS, CREDIT COMMITTEE, AND SUPERVISORY COMMITTEE EACH YEAR AT THE CREDIT UNION'S ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE DECISIONS OF THE ORGANIZATION, SUCH AS APPROVAL OF THE GOVERNING BODY'S ELECTION. FORM 990, PART VI, SECTION B, LINE 11B ONCE THE 990 IS COMPLETE, IT WILL BE PRESENTED TO THE BOARD OF DIRECTORS AT THEIR NEXT REGULARLY SCHEDULED MONTHLY MEETING. FORM 990, PART VI, SECTION B, LINE 12C AS A POTENTIAL CONFLICT OF INTEREST COMES TO OUR ATTENTION, IT IS DISCUSSED AT THE BOARD OF DIRECTORS MEETING. FORM 990, PART VI, SECTION B, LINE 15 AN INDEPENDENT CONSULTING FIRM IS USED, HR VALUE GROUP, TO PROVIDE THE BOARD WITH PAY RANGES FOR SIMILAR FINANCIAL INSTITUTIONS FOR ALL OF OUR PAID POSITIONS, INCLUDING THE CEO AND OTHER MANAGEMENT POSITIONS. THE BOARD DISCUSSES AND VOTES ON THE PAY OF THE CEO AND EXECUTIVE VICE PRESIDENT WHICH IS DOCUMENTED IN THE BOARD MINUTES. SECOND LEVEL MANAGEMENT PAY AND ALL OTHER STAFF ARE SET WITHIN PAY RANGES APPROVED BY THE BOARD AND A TOTAL DOLLAR AMOUNT APPROVED BY THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G OTHER OUTSIDE PROVIDER SERVICE FEES 1,472,867. FORM 990, PART XII, LINE 2C THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.