Rimrock Credit Union
- Assets
- $55.1m
- Revenue
- $1.5m
- Investments
- $22.6m
- Employees
- 11
- Location
- Billings, MT
- Founding
- Data as of
- 12/2021
- EIN
- 81-0269867
Organization Overview
Rimrock Credit Union is located in Billings, MT. As of 12/2021, Rimrock Credit Union employed 11 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 12/2021, Rimrock Credit Union generated $1.5m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 4.9% each year. All expenses for the organization totaled $1.3m during the year ending 12/2021. While expenses have increased by 3.0% per year over the past 5 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
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 3,655 MEMBERS WITH A WIDE VARIETY OF FINANCIAL SERVICES. AT YEAR-END THEY HELD 1,908 LOANS FOR A TOTAL OF $16,091,755.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Wade Mcfadden CEO | Officer | 40 | $146,307 |
Brandi Hickey Clo | Officer | 40 | $81,290 |
Shawn Bettise Secretary | OfficerTrustee | 2 | $0 |
Jim Kraft President | OfficerTrustee | 2 | $0 |
Janet Massey Treasurer | OfficerTrustee | 2 | $0 |
Mark Koerber Vice President | OfficerTrustee | 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 | $1,277,153 |
| Investment income | $231,961 |
| 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 | $1,509,114 |
| 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. | $227,596 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $164,650 |
| Pension plan accruals and contributions | $30,152 |
| Other employee benefits | $51,230 |
| Payroll taxes | $28,315 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,365 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $321,756 |
| Advertising and promotion | $106,082 |
| Office expenses | $74,978 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $47,057 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,226 |
| Interest | $100,725 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $73,906 |
| Insurance | $19,301 |
| All other expenses | $0 |
| Total functional expenses | $1,313,904 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $397,709 |
| Savings and temporary cash investments | $13,770,020 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $101,428 |
| Loans from Disqualified Persons | $6,206 |
| Notes and loans receivable | $15,898,651 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,526,554 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $22,605,339 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $766,626 |
| Total assets | $55,072,533 |
| Accounts payable and accrued expenses | $131,200 |
| 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 | $16,429 |
| Total liabilities | $147,629 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $48,179,806 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $6,745,098 |
| Total liabilities and net assets/fund balances | $55,072,533 |
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