Dec, 31, 2023 — RIVER COMMUNITY CREDIT UNION is a federally insured state chartered credit union headquartered in OTTUMWA, IA with 1 branch location and about $28.90 million in total assets. Opened 96 years ago in 1928, RIVER COMMUNITY CREDIT UNION has about 3,566 members and employs 6 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | RIVER COMMUNITY CREDIT UNION |
|---|---|
| Address: (Main Office) | 644 W 2nd St OTTUMWA, IA 52501-2358 |
| Phone: | (641) 684-6302 |
| Fax: | (641) 684-7921 |
| Website: | https://www.rivercommunitycu.org |
| Branches: | 1 branch locations |
| Members: | 3,566 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 64986 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1928 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $28,902,435 |
| CEO/Manager: | Nathan P Bissell |
| Chairperson: | Cory Benge |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 5,751,091 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 6,126,937 |
| Unsecured Loans | 1,035,697 |
| Other Loans | 14,117,012 |
| TOTAL LOANS | 21,279,646 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -52,085 |
| Land And Building | 64,222 |
| Other Fixed Assets | 21,711 |
| NCUSIF Deposit | 226,526 |
| All Other Assets | 0 |
| TOTAL ASSETS | 28,902,435 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 74,196 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 226,133 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 2,718,862 |
| Regular shares | 6,679,065 |
| All Other Shares & Deposits | 15,353,056 |
| TOTAL SHARES & DEPOSITS | 24,750,983 |
| TOTAL LIABILITIES | 25,051,312 |
| Regular Reserve | 0 |
| Other Reserves | 1,129,500 |
| Undivided Earnings | 2,721,623 |
| TOTAL EQUITY | 3,851,123 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 28,902,435 |
| INCOME & EXPENSE | |
| Loan Income | 1,056,980 |
| Investment Income | 208,042 |
| Other Income | 254,115 |
| Total Employee Compensation & Benefits | 364,985 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 469,275 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 22,256 |
| Cost of Funds | 412,217 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 303,646 |
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