Dec, 31, 2023 — RIVERFALL CREDIT UNION is a federally insured state chartered credit union headquartered in TUSCALOOSA, AL with 4 branch locations and about $162.35 million in total assets. Opened 71 years ago in 1953, RIVERFALL CREDIT UNION has about 13,843 members and employs 39 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | RIVERFALL CREDIT UNION |
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Address: (Main Office) | 2520 6th St TUSCALOOSA, AL 35401-1702 |
Phone: | (205) 759-1505 |
Fax: | (205) 758-3696 |
Website: | https://riverfallcu.com |
Branches: | 4 branch locations |
Members: | 13,843 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 60942 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1953 |
Last Audited: | Sep 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $162,354,259 |
CEO/Manager: | Scott Ryan |
Chairperson: | Gregory N Guy |
ASSETS: | $ Amount |
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Cash & Equivalents | 16,447,670 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 27,668,846 |
Unsecured Loans | 4,284,710 |
Other Loans | 61,656,199 |
TOTAL LOANS | 93,609,755 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -531,693 |
Land And Building | 5,830,766 |
Other Fixed Assets | 943,201 |
NCUSIF Deposit | 1,381,113 |
All Other Assets | 294,940 |
TOTAL ASSETS | 162,354,259 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 729,048 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 26,411,977 |
Regular shares | 54,175,885 |
All Other Shares & Deposits | 66,626,780 |
TOTAL SHARES & DEPOSITS | 147,214,642 |
TOTAL LIABILITIES | 147,943,690 |
Regular Reserve | 0 |
Other Reserves | -7,289,946 |
Undivided Earnings | 21,700,515 |
TOTAL EQUITY | 14,410,569 |
TOTAL LIABILITIES, SHARES, & EQUITY | 162,354,259 |
INCOME & EXPENSE | |
Loan Income | 4,808,805 |
Investment Income | 1,338,564 |
Other Income | 1,146,687 |
Total Employee Compensation & Benefits | 2,162,859 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 3,344,140 |
Non-operating Income & (Expense) | -137,237 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 384,494 |
Cost of Funds | 1,613,508 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 668,854 |
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