Riverview Credit Union
- Assets
- $7.5m
- Revenue
- $385.0k
- Investments
- $0.0
- Employees
- 2
- Location
- South Saint Paul, MN
- Founding
- 09/1944
- Data as of
- 12/2023
- EIN
- 41-6031223
Organization Overview
Riverview Credit Union is located in South Saint Paul, MN. The organization was established in 1944. 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 12/2023, Riverview Credit Union employed 2 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Riverview 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 12/2023, Riverview Credit Union generated $385.0k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.9% each year. All expenses for the organization totaled $330.7k during the year ending 12/2023. While expenses have increased by 3.8% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE COURTEOUS, PROFESSIONAL, AND COMPETITIVE FINANCIAL SERVICES TO MEET THE NEEDS OF OUR MEMBERS WHILE MAINTAINING ACCURATE AND EFFICIENT OPERATIONS TO SAFEGUARD OUR MEMBERS ASSETS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CREDIT UNION HAS VARIOUS TYPES OF DEPOSIT ACCOUNTS AVAILABLE FOR OUR MEMBERS. WE OPENED 15 NEW DEPOSIT ACCOUNTS IN 2023. AS OF 12/31/23 WE HAD 503 MEMBERS.
THE CREDIT UNION HAS SEVERAL TYPES OF LOAN PROGRAMS AVAILABLE FOR OUR MEMBERS. WE FUNDED 75 NEW LOANS DURING 2023. AS OF 12/31/23 WE HAD 253 LOANS RECEIVABLE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Julia Havens President & | OfficerTrustee | 40 | $118,056 |
Tamara Snaza Chair | OfficerTrustee | 0.5 | $0 |
Richard Bauer Vice Chair | OfficerTrustee | 0.5 | $0 |
Warren Mitchell Secretary | OfficerTrustee | 0.5 | $0 |
Steven Hirte Director | 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 | $347,924 |
| Investment income | $36,704 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $378 |
| 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 | $385,006 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $118,056 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $42,210 |
| Pension plan accruals and contributions | $9,616 |
| Other employee benefits | $2,915 |
| Payroll taxes | $12,484 |
| 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 | $3,313 |
| Advertising and promotion | $2,355 |
| Office expenses | $49,769 |
| Information technology | $33,747 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $369 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,883 |
| Interest | $22 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,560 |
| Insurance | $11,863 |
| All other expenses | $36,000 |
| Total functional expenses | $330,662 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $31,847 |
| Savings and temporary cash investments | $729,710 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $6,620,166 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $12,411 |
| Net Land, buildings, and equipment | $3,208 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $34,000 |
| Intangible assets | $0 |
| Other assets | $66,843 |
| Total assets | $7,498,185 |
| Accounts payable and accrued expenses | $22,757 |
| 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 | $6,240,131 |
| Total liabilities | $6,262,888 |
| 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 | $1,235,297 |
| Total liabilities and net assets/fund balances | $7,498,185 |