2020-04-02T10:10:51-05:00 2019-12-31 251622758 MAHER DUESSEL CPA'S 503 MARTINDALE STREET SUITE 600 PITTSBURGH PA 15212 990 2019-01-01 251113410 ARMCO CREDIT UNION ARMC 7242842020 101 HOLLYWOOD DRIVE PO BOX 1589 BUTLER PA 160031589 RANDALL W CYPHER CEO 7242842020 2020-04-02 1 TIMOTHY J MORGUS P00229535 4124715500 209.170.230.42 2020-04-02 10:10:48 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 441EDFA894BD2B99629AEF22657B0EACFD98B388 2019 2020-09-23 17:36:50Z RANDALL W CYPHER 101 HOLLYWOOD DRIVE BUTLER PA 160031589 15615293 0 X WWW.BAECU.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 86 15 14651 0 2027 2213 12204570 14092195 1615928 1506234 119887 14651 13942412 15615293 0 0 0 0 4693381 5157696 0 0 0 5803982 6793602 10497363 11951298 3445049 3663995 345830480 365917704 291526945 307950174 54303535 57967530 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 11951298 14092195 THE CREDIT UNION HAS ACHIEVED STEADY GROWTH IN ASSETS AND MEMBERSHIP THROUGH OFFERING VARIOUS FINANCIAL VEHICLES AND OPPORTUNTITIES TO ITS MEMBERS. 11951298 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 8452 0 86 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 9 9 1 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 RALPH BOOSEL PRESIDENT OF THE BOARD (THRU NOV 2019) 1.00 X X 0 0 0 JAMES A HRABOSKY PRESIDENT OF THE BOARD 1.00 X X 0 0 0 DEBRA A MONTELEONE 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 JOHN D GIBSON JR VICE PRESIDENT 1.00 X X 0 0 0 ROBERT L CLOUSE BOARD MEMBER 1.00 X 0 0 0 DEBORAH J ROGINSKI BOARD MEMBER 1.00 X 0 0 0 DAVID R BACHER TREASURER/SECRETARY 1.00 X X 0 0 0 LORI E ALTMAN BOARD MEMBER 1.00 X 0 0 0 RANDALL W CYPHER CEO 40.00 X 231507 0 51408 DENNIS FEHL EXECUTIVE VICE PRESIDENT 40.00 X 131193 0 41076 362700 0 92484 2 0 1 0 JACK HENRY & ASSOCIATES INC PO BOX 609 MONETT MO 65708 COMPUTER SOFTWARE 482941 DIEBOLD PO BOX 643543 PITTSBURGH PA 15264 ATM SERVICES 191649 PINNACLE DATA SYSTEMS LLC PO BOX 102017 BIRMINGHAM AL 35210 IT SERVICES 163597 ABRIGO PO BOX 677883 DALLAS TX 75267 COMPUTER SOFTWARE 159135 FINANCIAL DIMENSIONS INC 7025 CLAIRTON RD WEST MIFFLIN PA 15122 APPRAISAL SERVICES 142867 5 2213 2213 INTEREST ON LOANS 522100 10676757 10676757 FEES AND CHARGES 522100 2157269 2157269 INSURANCE 522100 699776 699776 SERVICE INCOME ON LOANS 522100 558393 558393 14092195 1506234 1506234 NON-MEMBER ATM FEES 522100 14651 14651 14651 15615293 14092195 14651 1506234 455184 3130150 386157 892749 293456 62039 44177 901182 102513 147880 612758 318553 8157 1682709 340619 61142 AMORTIZATION OF PENSION 1079083 LOAN SERVICING 622699 OTHER EXPENSES 326025 PROVISION FOR LOAN LOSS 286783 197283 11951298 2988326 3442885 89008163 66181956 497094 2623452 239766078 273573824 280438 381433 13935006 5757752 6387964 8177254 1887952 1921594 5014465 9615306 345830480 365917704 841809 994152 885000 885000 289800136 306071022 291526945 307950174 X 0 0 0 0 54303535 57967530 54303535 57967530 345830480 365917704 3663995 0 X 0 1 X 1 0 2188120 2188120 8058501 2811409 5247092 2351065 1893731 457334 1337320 1052612 284708 8177254 MEMBERS' SHARES 305916404 ACCRUED DIVIDENDS PAYABLE 154618 306071022 15613080 0 15613080 2213 2213 15615293 10872215 0 10872215 1079083 1079083 11951298 PART XI, LINE 4B - OTHER ADJUSTMENTS: MEMBERSHIP FEES 2,213. PART XII, LINE 4B - OTHER ADJUSTMENTS: NET CHANGE IN NET PENSION ASSET/LIAB. REPORTED IN OTHER COMPREHENSIVE INCOME 1,079,083. SCHEDULE D, PART XI, LINE 4B PART XI - LINE 4B - OTHER REVENUE THE CREDIT UNION RECEIVED $2,213 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 $-1,079,083, 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 221838 0 5377 0 4292 0 31308 0 20100 0 282915 0 0 0 DENNIS FEHL EXECUTIVE VICE PRESIDENT 125619 0 3064 0 2510 0 17743 0 23333 0 172269 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 BOARD MEMBERS RALPH L. BOOSEL AND LORI E. ALTMAN ARE UNCLE AND NIECE. 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.