Rimrock Credit Union
- Assets
- $57.4m
- Revenue
- $1.5m
- Investments
- $30.5m
- Employees
- 10
- Location
- Billings, MT
- Founding
- Data as of
- 12/2022
- EIN
- 81-0269867
Organization Overview
Rimrock Credit Union is located in Billings, MT. As of 12/2022, Rimrock Credit Union employed 10 individuals. Rimrock 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, Rimrock Credit Union generated $1.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $1.4m during the year ending 12/2022. While expenses have increased by 3.8% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
CONSUMER (MEMBER) FINANCIAL SERVICES
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN THE CURRENT YEAR THE CREDIT UNION SERVED THE FOLLOWING ELIGIBLE MEMBERS AND THEIR FAMILIES: - EMPLOYEES OF THE CITY OF BILLINGS, YELLOWSTONE COUNTY, YELLOWSTONE CITY COUNTY HEALTH DEPARTMENT, MONTANA-DAKOTA UTILITIES AND SUPERVALUE- ANY PERSON HAVING A VEHICLE LICENSED OR REGISTERED IN THE CITY OF BILLINGS OR YELLOWSTONE COUNTY- ALL PUBLIC EMPLOYEES IN COUNTIES ADJOINING YELLOWSTONE COUNTY, NOT SPECIFICALLY ELIGIBLE IN THE CHARTER OF ANOTHER CREDIT UNION. THE CREDIT UNION SERVED 3,501 MEMBERS WITH A WIDE VARIETY OF FINANCIAL SERVICES. AT YEAR-END THEY HELD 1,916 LOANS FOR A TOTAL OF $18,084,769.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jim Kraft President | OfficerTrustee | 2 | $0 |
Mark Koerber Vice President | OfficerTrustee | 2 | $0 |
Janet Massey Treasurer | OfficerTrustee | 2 | $0 |
Shawn Bettise Secretary | OfficerTrustee | 2 | $0 |
Rick Sayre Director | Trustee | 2 | $0 |
Andrew Ekblad Director | Trustee | 2 | $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 | $1,092,308 |
| Investment income | $409,019 |
| 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 | $1,501,327 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $247,658 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $180,967 |
| Pension plan accruals and contributions | $31,703 |
| Other employee benefits | $52,183 |
| Payroll taxes | $29,752 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,240 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $346,299 |
| Advertising and promotion | $29,680 |
| Office expenses | $82,648 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $58,368 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,639 |
| Interest | $128,872 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $120,012 |
| Insurance | $20,926 |
| All other expenses | $0 |
| Total functional expenses | $1,411,455 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $305,075 |
| Savings and temporary cash investments | $6,107,497 |
| 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 | $17,966,586 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,865,086 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $30,507,339 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $646,822 |
| Total assets | $57,398,405 |
| Accounts payable and accrued expenses | -$36,863 |
| 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 | $22,601 |
| Total liabilities | -$14,262 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $50,606,561 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $6,806,106 |
| Total liabilities and net assets/fund balances | $57,398,405 |