River Works Credit Union

Organization Overview

River Works Credit Union, operating under the name Riverworks Credit Union, is located in Lynn, MA. The organization was established in 1945. 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 12/2021, Riverworks Credit Union employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Riverworks 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, Riverworks Credit Union generated $5.0m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.4%) each year. All expenses for the organization totaled $4.5m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

CREDIT UNION MEMBER SERVICE/THRIFT

Describe the Organization's Program Activity:

Part 3 - Line 4a

MAINTENANCE OF MEMBER SHARE AND DEPOSIT ACCOUNTS, THE PAYMENT OF INTEREST THEREON


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Board, Officers & Key Employees

Name (title)Compensation
James Donahue
Treasurer
$160,438
Colleen Twinem
Director/executive Vice President
$120,904
Paul Barron
Secretary/director
$0
Paul Crowley
Vice Chairperson
$0
Kevin J Chiles
Director
$0
Keith Kenyon
Director
$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$4,780,515
Investment income $228,131
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $5,008,646

Peer Organizations

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