Dec, 31, 2023 — RIVER VALLEY CREDIT UNION is a federally insured state chartered credit union headquartered in AMES, IA with 2 branch locations and about $103.32 million in total assets. Opened 63 years ago in 1961, RIVER VALLEY CREDIT UNION has about 6,623 members and employs 15 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 VALLEY CREDIT UNION |
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Address: (Main Office) | 2811 E 13th St AMES, IA 50010 |
Phone: | (515) 232-1654 |
Fax: | (515) 232-4835 |
Website: | https://www.rvcu.org |
Branches: | 2 branch locations |
Members: | 6,623 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 61664 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1961 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $103,318,792 |
CEO/Manager: | Brian D Godwin |
Chairperson: | Jeffrey J Starnes |
ASSETS: | $ Amount |
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Cash & Equivalents | 8,310,832 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 22,567,972 |
Unsecured Loans | 953,934 |
Other Loans | 49,869,476 |
TOTAL LOANS | 73,391,382 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -109,115 |
Land And Building | 666,458 |
Other Fixed Assets | 255,188 |
NCUSIF Deposit | 818,738 |
All Other Assets | 0 |
TOTAL ASSETS | 103,318,792 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 44,478 |
Notes & Interest Payable | 800,000 |
Accounts Payable & Other Liabilities | 99,228 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 18,939,174 |
Regular shares | 24,892,007 |
All Other Shares & Deposits | 47,293,360 |
TOTAL SHARES & DEPOSITS | 91,124,541 |
TOTAL LIABILITIES | 92,068,247 |
Regular Reserve | 0 |
Other Reserves | 2,875,325 |
Undivided Earnings | 8,375,220 |
TOTAL EQUITY | 11,250,545 |
TOTAL LIABILITIES, SHARES, & EQUITY | 103,318,792 |
INCOME & EXPENSE | |
Loan Income | 2,911,480 |
Investment Income | 819,785 |
Other Income | 171,165 |
Total Employee Compensation & Benefits | 1,132,802 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 988,995 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 35,051 |
Cost of Funds | 1,033,165 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 863,406 |
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