Royal Credit Union
- Assets
- $4.0b
- Revenue
- $185.3m
- Investments
- $69.3m
- Employees
- 862
- Location
- Eau Claire, WI
- Founding
- Data as of
- 12/2021
- EIN
- 39-6072970
Organization Overview
Royal Credit Union is located in Eau Claire, WI. As of 12/2021, Royal Credit Union employed 862 individuals. Royal 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, Royal Credit Union generated $185.3m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 12.5% each year . All expenses for the organization totaled $120.4m during the year ending 12/2021. While expenses have increased by 8.8% per year over the past 6 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.
Since 2017, Royal Credit Union has awarded 33 individual grants totaling $2,208,818. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO CREATE A POSITIVE IMPACT IN THE LIVES WE TOUCH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THERE WERE 73,798 LOANS GRANTED IN 2021. AS OF 12/31/21, THE CREDIT UNION HAD 189,427 ACCOUNTS COMPRISED OF MORTGAGE, CONSUMER AND BUSINESS LOANS.
WE HAVE DEPOSIT, TRANSACTION AND INVESTMENT ACCOUNTS WITH 251,235 MEMBERS AT 12/31/21. NET ACCOUNT GROWTH DURING 2021 WAS 39,864 ACCOUNTS FOR A TOTAL AT 12/31/21 OF 487,070
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brandon Riechers Ceo/president | Officer | 40 | $986,318 |
Jared Johnson Mortgage Loan Officer | 40 | $683,911 | |
Jon Hehli Evp-Cfo | Officer | 40 | $598,766 |
Jeffrey Sproul Mortgage Loan Officer | 40 | $534,528 | |
Jan Johnson Evp-Organizational Agility | Officer | 40 | $524,463 |
Jacob Spies Regional Mortgage Sales Ma | 40 | $419,649 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Market & Johnson Inc Building Contractor | 12/30/21 | $1,219,216 |
Act Appraisal Inc Appraisals For Mortgage Loans | 12/30/21 | $903,220 |
Kopelowitz Ostrow Pa Attorney/legal Services | 12/30/21 | $360,000 |
Class Valuation Llc Appraisals For Mortgage Loans | 12/30/21 | $330,058 |
Royal Construction Inc Building Contractor | 12/30/21 | $307,201 |
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 | $178,877,257 |
| Investment income | $4,175,579 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,686,620 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $185,328,498 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,951,976 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $14,637,163 |
| Compensation of current officers, directors, key employees. | $5,157,554 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $43,260,592 |
| Pension plan accruals and contributions | $2,032,218 |
| Other employee benefits | $6,320,932 |
| Payroll taxes | $3,597,836 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| 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 | $2,311,609 |
| Advertising and promotion | $4,349,423 |
| Office expenses | $16,033,288 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,326,181 |
| Travel | $196,000 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $410,229 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,512,871 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $120,388,667 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $878,500,771 |
| Savings and temporary cash investments | $7,969,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $22,445,470 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,873,089,044 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,103,607 |
| Net Land, buildings, and equipment | $42,656,483 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $69,308,563 |
| Investments—program-related | $60,633,222 |
| Intangible assets | $13,007,120 |
| Other assets | $75,562,079 |
| Total assets | $4,046,275,359 |
| Accounts payable and accrued expenses | $69,842,008 |
| 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 | $3,594,250,590 |
| Total liabilities | $3,664,092,598 |
| 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 | $382,182,761 |
| Total liabilities and net assets/fund balances | $4,046,275,359 |
Grants Awarded
Over the last fiscal year, Royal Credit Union has awarded $45,450 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
St Paul, MN PURPOSE: EQUIPMENT PURCHASE RELATED TO YOUTH PROGRAMS | $15,000 |
Eau Claire, WI PURPOSE: CARSON PARK TURF | $11,250 |
Wausau, WI PURPOSE: COMMUNITY HEALTH INTERNSHIP PROGRAM | $11,200 |
Eau Claire, WI PURPOSE: ANNUAL DONATION EC/CV PORTION | $8,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Royal Credit Union has recieved totaling $7,750.
| Awarding Organization | Amount |
|---|---|
Wisconsin Credit Union Foundationinc Madison, WI PURPOSE: TO FUND VIRTUAL FINANCIAL EDUCATION FOR YOUNG ADULTS AND TO SUPPORT JAIL-BASED FINANCIAL EDUCATION PROGRAM. | $7,750 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Delta Dental Plan Of Michigan Okemos, MI | $855,270,608 | $992,190,042 |
Mclaren Health Plan Inc Flint, MI | $450,183,476 | $1,045,922,622 |
St Lukes Hospital Of Kansas City Kansas City, MO | $1,771,100,748 | $1,070,641,998 |
Saint Thomas West Hospital St Louis, MO | $949,679,305 | $1,081,181,844 |
St Cloud Hospital St Cloud, MN | $1,702,572,092 | $1,117,982,242 |
Caresource Indiana Inc Dayton, OH | $434,368,652 | $990,208,142 |
Woodmen Of The World Life Insurance Society Omaha, NE | $11,463,649,522 | $1,020,619,814 |
Mercy Hospital Springfield Springfield, MO | $547,925,906 | $1,115,699,805 |
Ssm Health Care Corporation St Louis, MO | $4,485,127,106 | $1,033,534,741 |
Deaconess Hospital Inc Evansville, IN | $1,921,220,397 | $1,102,144,618 |
Ascension St John Hospital St Louis, MO | $469,518,860 | $965,978,781 |
Advocate North Side Health Network Downers Grove, IL | $946,824,836 | $901,672,521 |