Dec, 31, 2023 — RIPCO CREDIT UNION is a federally insured state chartered credit union headquartered in RHINELANDER, WI with 3 branch locations and about $180.87 million in total assets. Opened 92 years ago in 1932, RIPCO CREDIT UNION has about 12,863 members and employs 55 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | RIPCO CREDIT UNION |
|---|---|
| Address: (Main Office) | 121 Sutliff Ave RHINELANDER, WI 54501 |
| Phone: | (715) 365-4800 |
| Fax: | |
| Website: | https://www.ripco.org |
| Branches: | 3 branch locations |
| Members: | 12,863 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 67183 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1932 |
| Last Audited: | Aug 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $180,873,404 |
| CEO/Manager: | Jennifer Grinder |
| Chairperson: | Steven Ferch |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 20,229,778 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 41,756,345 |
| Unsecured Loans | 7,346,895 |
| Other Loans | 61,058,984 |
| TOTAL LOANS | 110,162,224 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -821,062 |
| Land And Building | 4,732,792 |
| Other Fixed Assets | 966,376 |
| NCUSIF Deposit | 1,617,760 |
| All Other Assets | 0 |
| TOTAL ASSETS | 180,873,404 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 114,418 |
| Notes & Interest Payable | 10,000 |
| Accounts Payable & Other Liabilities | 1,976,197 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 44,290,906 |
| Regular shares | 80,728,690 |
| All Other Shares & Deposits | 37,978,762 |
| TOTAL SHARES & DEPOSITS | 162,998,359 |
| TOTAL LIABILITIES | 165,132,882 |
| Regular Reserve | 0 |
| Other Reserves | -858,072 |
| Undivided Earnings | 16,598,594 |
| TOTAL EQUITY | 15,740,522 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 180,873,404 |
| INCOME & EXPENSE | |
| Loan Income | 6,167,999 |
| Investment Income | 1,599,684 |
| Other Income | 744,914 |
| Total Employee Compensation & Benefits | 3,891,923 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 3,671,767 |
| Non-operating Income & (Expense) | 103,308 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 474,216 |
| Cost of Funds | 766,392 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 786,959 |
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