2025-06-05T08:42:16-05:00 2024-12-31 251622758 MAHER DUESSEL CPA'S 503 MARTINDALE STREET SUITE 600 PITTSBURGH PA 15212 990 2024-01-01 251113410 ARMCO CREDIT UNION ARMC 7242842020 101 HOLLYWOOD DRIVE PO BOX 1589 BUTLER PA 160031589 RANDALL W CYPHER CEO 7242842020 2025-06-05 1 0 MICHELLE L BRYAN P01306133 4124715500 2024 2025-03-06 01:10:19Z RANDALL W CYPHER 101 HOLLYWOOD DRIVE BUTLER PA 160031589 31751506 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 9 110 17 15780 0 16 16 23955040 25908366 1177454 5363269 15416 479855 25147926 31751506 0 0 0 0 7312501 8413100 0 0 0 12424855 16130371 19737356 24543471 5410570 7208035 532249153 617085524 458348101 535598261 73901052 81487263 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 24543471 25908366 THE CREDIT UNION HAS ACHIEVED STEADY GROWTH IN ASSETS AND MEMBERSHIP THROUGH OFFERING VARIOUS FINANCIAL VEHICLES AND OPPORTUNTITIES TO ITS MEMBERS. 24543471 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 14770 0 110 0 1 1 0 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 VICE PRESIDENT 1.00 X X 0 0 0 EDWARD NATALI BOARD MEMBER 1.00 X 0 0 0 MATTHEW STEWART BOARD MEMBER 1.00 X 0 0 0 LORI E ALTMAN BOARD MEMBER 1.00 X 0 0 0 JAMES A HRABOSKY PRESIDENT (THRU 9/24) 1.00 X X 41400 0 6913 JOHN D GIBSON JR PRESIDENT OF THE BOARD 1.00 X X 0 0 0 DAVID R BACHER TREASURER/SECRETARY 1.00 X X 0 0 0 CHRISTOPHER LUNN BOARD MEMBER 1.00 X 0 0 0 RANDALL W CYPHER CEO 40.00 X 369941 0 49030 DENNIS FEHL EXECUTIVE VICE PRESIDENT 40.00 X 227398 0 41356 JOSEPH MALLOY GENERAL MANAGER OF OPERATIONS 40.00 X 116404 0 35211 ADAM BOOSEL ASSISTANT EXECUTIVE VICE P 40.00 X 161521 0 31902 RAY MUTH IT MANAGER 40.00 X 157128 0 38143 MARK BUCHEK COMMERCIAL LOAN MANAGER 40.00 X 126785 0 36019 1200577 0 238574 7 0 1 0 JACK HENRY & ASSOCIATES INC PO BOX 609 MONETT MO 65708 COMPUTER SOFTWARE 531006 IMS 245 COMMERCE BLVD LIVERPOOL NY 13088 MAILING SERVICES 231046 DIEBOLD PO BOX 643543 PITTSBURGH PA 15264 ATM SERVICES 171841 CONSOLIDATED COMMUNICATIONS PO BOX 66523 ST LOUIS MO 63166 COMMUNICATION SERVICES 112058 4 X 16 16 INTEREST ON LOANS 522100 20860055 20860055 FEES AND CHARGES 522100 4033112 4033112 INSURANCE 522100 852724 852724 SERVICE INCOME ON LOANS 522100 162475 162475 25908366 5363269 5363269 AMORTIZATION OF PENSION LIABILITY 522100 401188 401188 PROVISION FOR CREDIT LOSSES 522100 62887 62887 NON-MEMBER ATM FEES 522100 15780 15780 479855 31751506 26372441 15780 5363269 713744 5434082 365954 1412628 486692 91661 49730 1729926 246674 214858 845588 445960 10223 9849143 472427 109104 OTHER EXPENSES 1224356 LOAN SERVICING 554229 POSTAGE AND SHIPPING 286492 24543471 3362652 3462011 47036373 162809040 928924 286340 451427439 418558049 489859 430807 20186063 8119335 12257748 12066728 2323453 4405785 14422705 15066764 532249153 617085524 973221 1176657 545750 457250 0 89000 456829130 533875354 458348101 535598261 X 0 0 0 0 73901052 81487263 73901052 81487263 532249153 617085524 X 7208035 378176 X 0 1 X 1 0 2188120 2188120 12791438 3763447 9027991 3604990 2754373 850617 1601515 1601515 0 12066728 MEMBERS' SHARES 532606150 ACCRUED DIVIDENDS PAYABLE 956919 RESERVE FOR UNFUNDED COMMITMENTS 312285 533875354 31350302 0 31350302 401204 401204 31751506 24543471 0 24543471 0 24543471 PART XI, LINE 4B - OTHER ADJUSTMENTS: MEMBERSHIP FEES 16. NET CHANGE IN NET PENSION ASSET/LIAB. REPORTED IN OTHER COMPREHENSIVE INCOME 401,188. PART XII, LINE 4B - OTHER ADJUSTMENTS: NET CHANGE IN NET PENSION ASSET/LIAB. REPORTED IN OTHER COMPREHENSIVE INCOM SCHEDULE D, PART XI, LINE 4B PART XI - LINE 4B - OTHER REVENUE THE CREDIT UNION RECEIVED $16 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 $401,188 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 369941 0 0 0 0 0 25545 0 23485 0 418971 0 0 0 DENNIS FEHL EXECUTIVE VICE PRESIDENT 227398 0 0 0 0 0 15715 0 25641 0 268754 0 0 0 RAY MUTH IT MANAGER 157128 0 0 0 0 0 10835 0 27308 0 195271 0 0 0 ADAM BOOSEL ASSISTANT EXECUTIVE VICE P 161521 0 0 0 0 0 11158 0 20744 0 193423 0 0 0 MARK BUCHEK COMMERCIAL LOAN MANAGER 126785 0 0 0 0 0 8753 0 27266 0 162804 0 0 0 JOSEPH MALLOY GENERAL MANAGER OF OPERATIONS 116404 0 0 0 0 0 8037 0 27174 0 151615 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 VII, SECTION A, LINE 7 EFFECTIVE SEPTEMBER 2024, JAMES HRABOSKY BECAME AN EMPLOYEE OF THE CREDIT UNION AND THE WAGES REPORTED ON THE W-2 RELATE TO COMPENSATION TO HIM IN THE CAPACITY OF BEING AN EMPLOYEE, NOT THAT OF A MEMBER OF THE BOARD. FORM 990, PART XI, LINE 9: EQUITY ACQUIRED IN MERGER 378,176.