2 Rivers Area Credit Union

Organization Overview

2 Rivers Area Credit Union is located in Kankakee, IL. The organization was established in 1951. 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, 2 Rivers Area Credit Union employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 2 Rivers Area 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, 2 Rivers Area Credit Union generated $1.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.8% each year. All expenses for the organization totaled $1.4m during the year ending 12/2022. While expenses have increased by 6.8% per year over the past 8 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

ILLINOIS STATE CHARTERED CREDIT UNION OPERATED FOR THE MUTUAL BENEFIT OF ITS MEMBERS

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE CREDIT UNION MAKES AND SERVICES CONSUMER LOANS AND REAL ESTATE LOANS TO MEMBERS. THE NUMBER OF LOANS OUTSTANDING AT 12/31/22 IS 1,786 FOR A TOTAL OF $14,157,274.


THE CREDIT UNION PAYS OUT DIVIDENDS ON ITS MEMBERS' SHARE DEPOSIT ACCOUNTS AT A MARKET RATE OF INTEREST. THE NUMBER OF SHARE ACCOUNTS AT 12/31/22 IS 7,201 FOR A TOTAL OF $22,037,819.


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Board, Officers & Key Employees

Name (title)Compensation
Danita Swanson
President/manager
$94,615
Mary Westover
Chairman
$0
Brad Kuntz
Secretary
$0
John Hogan
Treasurer
$0
John Absher
Vice-Chair
$0
Thomas Maass
Director
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Illinois Credit Union League
Debit Card Costs
$161,637
Fiserv Inc
Accounting Software Fees
$155,872
View All Vendors

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$1,310,043
Investment income $110,006
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 $1,420,049

Grants Recieved

Over the last fiscal year, we have identified 1 grants that 2 Rivers Area Credit Union has recieved totaling $6,000.

Awarding OrganizationAmount
Illinois Credit Union Foundation

Naperville, IL

PURPOSE: COVID 19 Assist and MBD Grant

$6,000
View Grant Recipient Profile

Peer Organizations

Organization NameAssets
University Of Illinois Community Credit Union
Champaign, IL
$22,792,231
Land Of Lincoln Credit Union
Decatur, IL
$20,389,555
Heritage Credit Union
Deforest, WI
$20,193,229
Siu Credit Union
Carbondale, IL
$19,509,001
Healthcare Associates Credit Union
Naperville, IL
$19,024,406
Financial Plus Credit Union
Ottawa, IL
$18,435,940
Streator Onized Credit Union
Streator, IL
$20,466,912
Arsenal Credit Union
Arnold, MO
$18,878,245
Kane County Teachers Credit Union
Elgin, IL
$16,257,755
Via Credit Union
Marion, IN
$18,473,040
First Northern Credit Union
Chicago, IL
$14,919,062
Abri Credit Union
Romeoville, IL
$14,619,681

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