Armco Credit Union
- Assets
- $508.4m
- Revenue
- $16.7m
- Investments
- $3.1m
- Employees
- 92
- Location
- Butler, PA
- Founding
- Data as of
- 12/2021
- EIN
- 25-1113410
Organization Overview
Armco Credit Union is located in Butler, PA. As of 12/2021, Armco Credit Union employed 92 individuals. Armco Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.
For the year ending 12/2021, Armco Credit Union generated $16.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 8.2% each year. All expenses for the organization totaled $12.8m during the year ending 12/2021. While expenses have increased by 7.9% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
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.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CREDIT UNION HAS ACHIEVED STEADY GROWTH IN ASSETS AND MEMBERSHIP THROUGH OFFERING VARIOUS FINANCIAL VEHICLES AND OPPORTUNTITIES TO ITS MEMBERS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Randall W Cypher CEO | Officer | 40 | $249,908 |
Dennis Fehl Executive Vice President | Officer | 40 | $140,964 |
James A Hrabosky President Of The Board | OfficerTrustee | 1 | $0 |
John D Gibson Jr Vice President | OfficerTrustee | 1 | $0 |
David R Bacher Treasurer/secretary | OfficerTrustee | 1 | $0 |
David E Hilliard Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Jack Henry & Associates Inc Computer Software | 12/30/21 | $311,540 |
Securitas Electronic Security Inc Electronic Security | 12/30/21 | $220,249 |
Diebold Atm Services | 12/30/21 | $215,390 |
Financial Dimensions Inc Appraisal Services | 12/30/21 | $170,044 |
Pinnacle Data Systems Llc It Services | 12/30/21 | $132,144 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,051 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,051 |
| Total Program Service Revenue | $16,318,120 |
| Investment income | $171,911 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $189,514 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $16,699,090 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $465,846 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,799,359 |
| Pension plan accruals and contributions | $260,837 |
| Other employee benefits | $1,054,434 |
| Payroll taxes | $325,403 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $37,398 |
| Fees for services: Accounting | $43,612 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,167,468 |
| Advertising and promotion | $198,731 |
| Office expenses | $159,273 |
| Information technology | $628,061 |
| Royalties | $0 |
| Occupancy | $340,991 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,656 |
| Interest | $1,174,109 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $521,371 |
| Insurance | $63,222 |
| All other expenses | $224,841 |
| Total functional expenses | $12,846,994 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,572,256 |
| Savings and temporary cash investments | $139,741,641 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,098,608 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $326,992,904 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $403,417 |
| Net Land, buildings, and equipment | $12,641,845 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $3,071,557 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $13,828,291 |
| Total assets | $508,350,519 |
| Accounts payable and accrued expenses | $896,980 |
| Grants payable | $0 |
| Deferred revenue | $722,750 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $443,951,564 |
| Total liabilities | $445,571,294 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $62,779,225 |
| Total liabilities and net assets/fund balances | $508,350,519 |
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