River Region Credit Union
- Assets
- $392.1m
- Revenue
- $18.9m
- Investments
- $29.2m
- Employees
- 107
- Location
- Jefferson City, MO
- Founding
- Data as of
- 12/2021
- EIN
- 44-0623480
Organization Overview
River Region Credit Union is located in Jefferson City, MO. As of 12/2021, River Region Credit Union employed 107 individuals. River Region 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, River Region Credit Union generated $18.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.1% each year . All expenses for the organization totaled $13.0m during the year ending 12/2021. While expenses have increased by 10.0% 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
TO PROVIDE HIGH QUALITY FINANCIAL SERVICES FOR OUR MEMBERS/OWNERS, ENHANCING THEIR FINANCIAL WELL-BEING WHILE MAINTAINING THE FINANCIAL STRENGTH OF THE CREDIT UNION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES FINANCIAL AND FINANCIALLY RELATED SERVICES TO 27,028 MEMBERS.
PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF DECEMBER 31, 2021, THERE WERE 23,862 LOANS OUTSTANDING TOTALING $301,748,669.
PAID DIVIDENDS ON MEMBER DEPOSITS TOTALING $1,563,057 FOR THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Nichols President/ceo | Officer | 40 | $506,859 |
Galen Wilhoit Chief Financial Officer | Officer | 40 | $200,746 |
Louie Delk Chief Member Experience Officer | Officer | 40 | $184,911 |
Lisa Wolken Vice President - Real Estate | Officer | 40 | $113,598 |
Will Lemen Dealer Services Manager | 40 | $111,209 | |
Dave Miller Vice President - Residential Lending | Officer | 40 | $93,448 |
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 | $18,276,620 |
| Investment income | $565,890 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $32,670 |
| 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 | $18,875,180 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $22,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,820,702 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,219,926 |
| Pension plan accruals and contributions | $207,530 |
| Other employee benefits | $430,758 |
| Payroll taxes | $307,309 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $237,270 |
| Fees for services: Accounting | $63,832 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $7,000 |
| Fees for services: Other | $465,668 |
| Advertising and promotion | $1,035,750 |
| Office expenses | $830,502 |
| Information technology | $518,990 |
| Royalties | $0 |
| Occupancy | $347,459 |
| Travel | $29,012 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $59,906 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $528,404 |
| Insurance | $81,665 |
| All other expenses | $110,558 |
| Total functional expenses | $13,033,041 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,224,102 |
| Savings and temporary cash investments | $29,406,133 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $3,952,199 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $298,986,216 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $460,145 |
| Net Land, buildings, and equipment | $15,947,235 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $29,189,057 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,895,664 |
| Total assets | $392,060,751 |
| Accounts payable and accrued expenses | $3,645,970 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $141,110 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,800,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $352,178,499 |
| Total liabilities | $357,765,579 |
| 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 | $34,295,172 |
| Total liabilities and net assets/fund balances | $392,060,751 |
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