White River Credit Union
- Assets
- $51.3m
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 14
- Location
- Rochester, VT
- Founding
- 12/1986
- Data as of
- 12/2022
- EIN
- 03-0182263
Organization Overview
White River Credit Union is located in Rochester, VT. The organization was established in 1986. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2022, White River Credit Union employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. White River 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 12/2022, White River Credit Union generated $2.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $1.9m during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
WHITE RIVER CREDIT UNION IS A MEMBER-OWNED FINANCIAL INSTITUTION PROVIDING VARIED FINANCIAL SERVICES TO MEMBERS IN A CONVENIENT AND PERSONAL MANNER, WHILE MAINTAINING LONG-TERM FINANCIAL SAFETY AND STABILITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMMUNITY BASED CREDIT UNION PROVIDING SAVINGS AND LENDING PRODUCTS TO MEMBERS OF THE COMMUNITY ON AN ONGOING BASIS. CURRENTLY SERVE 4,132 MEMBERS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Wanda Dunham CEO | Officer | 55 | $129,924 |
Andrew West Vice Chairperson, Board Of Directors | OfficerTrustee | 0.5 | $0 |
Diane Shepard Treasurer, Board Or Directors | OfficerTrustee | 0.5 | $0 |
Nancy Harvey Chairperson, Board Of Directors | OfficerTrustee | 1 | $0 |
Priscilla Baker Secretary, Board Of Directors | OfficerTrustee | 0.5 | $0 |
Jonni Spaulding Board Member | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| 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 | $0 |
| Total Program Service Revenue | $1,914,779 |
| Investment income | $180,861 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$2,761 |
| Net Gain/Loss on Asset Sales | -$14,685 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,078,194 |
| 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. | $129,924 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $558,066 |
| Pension plan accruals and contributions | $18,462 |
| Other employee benefits | $95,695 |
| Payroll taxes | $55,048 |
| Fees for services: Management | $0 |
| Fees for services: Legal | -$4,007 |
| Fees for services: Accounting | $81,990 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $5,755 |
| Office expenses | $385,232 |
| Information technology | $111,774 |
| Royalties | $0 |
| Occupancy | $93,545 |
| Travel | $2,172 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $84,921 |
| Insurance | $42,370 |
| All other expenses | $7,628 |
| Total functional expenses | $1,857,104 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $741,993 |
| Savings and temporary cash investments | $19,503,779 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,331 |
| Loans from Officers, Directors, or Controlling Persons | $308,604 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $29,300,219 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $88,488 |
| Net Land, buildings, and equipment | $877,954 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $502,627 |
| Total assets | $51,325,995 |
| Accounts payable and accrued expenses | $712,504 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $47,045,520 |
| Total liabilities | $47,758,024 |
| 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 | $3,567,971 |
| Total liabilities and net assets/fund balances | $51,325,995 |
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|---|---|---|
Bellwether Community Credit Union Manchester, NH | $557,690,894 | $21,955,180 |
Sharon & Cresent United Credit Union Brockton, MA | $438,601,837 | $18,630,554 |
Quincy Credit Union Quincy, MA | $736,275,717 | $20,097,786 |
Holy Rosary Regional Credit Union Rochester, NH | $399,129,935 | $15,434,385 |
Alltrust Credit Union Fairhaven, MA | $299,264,971 | $13,016,630 |
Members Plus Credit Union Medford, MA | $342,620,781 | $10,885,310 |
St Jeans Credit Union Salem, MA | $315,403,428 | $11,808,191 |
Mass Bay Credit Union South Boston, MA | $300,728,924 | $12,109,797 |
Holyoke Credit Union Holyoke, MA | $242,121,845 | $10,425,579 |
Members First Credit Union Of Nh Manchester, NH | $244,669,595 | $9,857,819 |
Southbridge Credit Union Southbridge, MA | $204,683,991 | $8,395,141 |
Community Credit Union Of Lynn Lynn, MA | $151,832,457 | $6,481,422 |