Ripco Credit Union
- Assets
- $186.9m
- Revenue
- $7.4m
- Investments
- $33.4m
- Employees
- 53
- Location
- Rhinelander, WI
- Founding
- Data as of
- 12/2021
- EIN
- 39-0571035
Organization Overview
Ripco Credit Union is located in Rhinelander, WI. As of 12/2021, Ripco Credit Union employed 53 individuals. Ripco 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, Ripco Credit Union generated $7.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.6% each year. All expenses for the organization totaled $6.5m during the year ending 12/2021. While expenses have increased by 5.4% per year over the past 7 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THROUGH OUR "ATTITUDE OF EXCELLENCE" RIPCO CREDIT UNION DELIVERS EXCEPTIONAL FINANCIAL SERVICES WHILE BUILDING LIFELONG RELATIONSHIPS - ONE MEMBER AT A TIME.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RIPCO CREDIT UNION SERVES OVER 12,000 MEMBERS, PROVIDING A WIDE RANGE OF DEPOSIT AND LOAN PRODUCTS AT COMPETITIVE RATES. WE STRIVE FOR INNOVATION THROUGH OUR PRODUCTS AND SERVICES IN ADDITION TO OFFERING EXCEPTIONAL CUSTOMER SERVICE.
RIPCO CONTINUES TO PROMOTE FINANCIAL LITERACY FOR CHILDREN AND YOUNG ADULTS THROUGH OUR CUSTOMIZED YOUTH ACCOUNTS. THE HONEY POT PROGRAM ENGAGES CHILDREN TO SAVE BY OFFERING A GIFT BAG AT ACCOUNT OPENING THAT INCLUDES FUN, EDUCATIONAL ITEMS. HONEY POT PROMOTIONS AND EVENTS ARE ALSO PROVIDED THROUGHOUT THE YEAR. SMART START CHECKING ENCOURAGES YOUNG ADULTS AGES 15 TO 25 TO BUILD FINANCIAL INDEPENDENCE THROUGH EDUCATION, LOW FEES, AND REIMBURSEMENT OF ATM FEES UP TO $10/MONTH. IN ADDITION, RIPCO HAS EXTENDED SERVICES TO YOUNG ADULTS THROUGH OUR LOCAL HIGH SCHOOL BRANCH THAT IS OPEN DURING LUNCH HOURS AND STAFFED BY STUDENTS.
RIPCO THRIVES ON THE CREDIT UNION CULTURE OF "PEOPLE HELPING PEOPLE". WE HAVE TWO CERTIFIED BUDGET COUNSELORS ON STAFF WHO PROVIDE FREE SERVICES TO THOSE IN NEED OF ADDITIONAL FINANCIAL ASSISTANCE. WE ALSO OFFER A WIDE WAGE OF FINANCIAL LITERACY RESOURCES ON OUR WEBSITE INCLUDING INFORMATION ON FINANCIAL WELLNESS AND BUDGETING TOOLS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Liza Edinger President/ceo (thru August) | Officer | 40 | $169,423 |
James Levandoski VP Of Lending | 40 | $122,504 | |
Veronika Baron Interim President/ceo | Officer | 40 | $114,888 |
Stephanie Laska VP Of Finance | 40 | $102,180 | |
Steven Ferch Chairman | OfficerTrustee | 1 | $3,000 |
Maggie Steffen Secretary | OfficerTrustee | 1 | $1,800 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
First Data Processing Inc Debit Card Processor | 12/30/21 | $334,155 |
Cuanswers Core Data Processor | 12/30/21 | $296,854 |
Pscu Credit Card Processor | 12/30/21 | $142,073 |
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 | $6,441,001 |
| Investment income | $754,422 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $12,604 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,425,527 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,550 |
| 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. | $357,853 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,159,860 |
| Pension plan accruals and contributions | $159,105 |
| Other employee benefits | $427,136 |
| Payroll taxes | $184,459 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $26,679 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $359,401 |
| Advertising and promotion | $137,749 |
| Office expenses | $496,158 |
| Information technology | $122,285 |
| Royalties | $0 |
| Occupancy | $214,377 |
| Travel | $661 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $91,920 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $383,156 |
| Insurance | $42,157 |
| All other expenses | $101,398 |
| Total functional expenses | $6,480,367 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,842,078 |
| Savings and temporary cash investments | $16,588,941 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $290,277 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $91,053,700 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $170,749 |
| Net Land, buildings, and equipment | $5,989,802 |
| Investments—publicly traded securities | $30,468,568 |
| Investments—other securities | $33,395,751 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,142,433 |
| Total assets | $186,942,299 |
| Accounts payable and accrued expenses | $1,246,808 |
| Grants payable | $0 |
| Deferred revenue | $59,074 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | -$19,082 |
| 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 | $169,058,557 |
| Total liabilities | $170,345,357 |
| 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 | $16,596,942 |
| Total liabilities and net assets/fund balances | $186,942,299 |
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