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RIVERTOWN COMMUNITY FEDERAL CREDIT UNION

Dec, 31, 2023 — RIVERTOWN COMMUNITY FEDERAL CREDIT UNION is a federal credit union headquartered in GRANDVILLE, MI with 2 branch locations and about $77.16 million in total assets. Opened 75 years ago in 1949, RIVERTOWN COMMUNITY FEDERAL CREDIT UNION has about 5,190 members and employs 16 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:RIVERTOWN COMMUNITY FEDERAL CREDIT UNION
Address:
(Main Office)
PO BOX 249
GRANDVILLE, MI 49468
Phone:(616) 406-2480
Fax:(616) 534-3597
Website:https://www.rivertowncu.org
Branches:2 branch locations
Members:5,190
Credit Union Type:Federal Credit Union
Charter Number:6164
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1949
Last Audited:Jun 01, 2022
FHLB Member:No
Low Income Designation:No
Assets:$77,162,990
CEO/Manager:Kristopher A Lewis
Chairperson:Greg Golembiewski

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 5,624,939
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 18,703,071
 Unsecured Loans 3,773,499
 Other Loans 17,939,316
 TOTAL LOANS 40,415,886
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -266,653
 Land And Building 2,125,747
 Other Fixed Assets 135,715
 NCUSIF Deposit 633,344
 All Other Assets 0
  TOTAL ASSETS 77,162,990
LIABILITIES & CAPITAL:  
 Dividends Payable 28,010
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 824,784
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 10,414,279
 Regular shares 21,515,574
 All Other Shares & Deposits 33,748,740
  TOTAL SHARES & DEPOSITS 65,678,593
  TOTAL LIABILITIES 66,531,387
 Regular Reserve 0
 Other Reserves 0
 Undivided Earnings 10,631,603
  TOTAL EQUITY 10,631,603
  TOTAL LIABILITIES, SHARES, & EQUITY 77,162,990
INCOME & EXPENSE  
 Loan Income 1,439,122
 Investment Income 341,280
 Other Income 378,824
 Total Employee Compensation & Benefits 719,335
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,081,660
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 42,958
 Cost of Funds 112,810
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 450,129
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