Dec, 31, 2023 — R.I.A. FEDERAL CREDIT UNION is a federal credit union headquartered in BETTENDORF, IA with 11 branch locations and about $611.32 million in total assets. Opened 89 years ago in 1935, R.I.A. FEDERAL CREDIT UNION has about 40,837 members and employs 142 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | R.I.A. FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 4343 Utica Ridge Rd BETTENDORF, IA 52722 |
| Phone: | (563) 355-3800 |
| Fax: | (563) 355-9680 |
| Website: | https://riafcu.com |
| Branches: | 11 branch locations |
| Members: | 40,837 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 17117 |
|---|---|
| Membership Type: | Multiple common bond - Primarily military |
| Corporate Credit Union: | No |
| Year Opened: | 1935 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $611,317,703 |
| CEO/Manager: | James Watts |
| Chairperson: | John Masengarb |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 37,245,213 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 194,036,298 |
| Unsecured Loans | 76,607,505 |
| Other Loans | 184,437,028 |
| TOTAL LOANS | 455,080,831 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -4,393,699 |
| Land And Building | 12,049,787 |
| Other Fixed Assets | 2,278,279 |
| NCUSIF Deposit | 5,487,766 |
| All Other Assets | 952,966 |
| TOTAL ASSETS | 611,317,703 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 141 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 2,923,349 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 108,936,691 |
| Regular shares | 134,553,024 |
| All Other Shares & Deposits | 326,456,998 |
| TOTAL SHARES & DEPOSITS | 569,946,713 |
| TOTAL LIABILITIES | 572,870,203 |
| Regular Reserve | 0 |
| Other Reserves | -14,986,658 |
| Undivided Earnings | 53,434,158 |
| TOTAL EQUITY | 38,447,500 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 611,317,703 |
| INCOME & EXPENSE | |
| Loan Income | 26,843,900 |
| Investment Income | 3,134,889 |
| Other Income | 2,434,376 |
| Total Employee Compensation & Benefits | 9,203,440 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 12,892,205 |
| Non-operating Income & (Expense) | 77,215 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 6,605,529 |
| Cost of Funds | 7,262,828 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,100,751 |
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