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RIVER VALLEY CREDIT UNION

Dec, 31, 2023 — RIVER VALLEY CREDIT UNION is a federally insured state chartered credit union headquartered in ADA, MI with 2 branch locations and about $120.43 million in total assets. Opened 59 years ago in 1965, RIVER VALLEY CREDIT UNION has about 9,699 members and employs 31 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 272476239
Name:RIVER VALLEY CREDIT UNION
Address:
(Main Office)
7177 Headley St SE
ADA, MI 49301-9900
Phone:(616) 787-7481
Fax:(616) 676-8136
Website:https://www.myrivervalleycu.org
Branches:2 branch locations
Members:9,699
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:62123
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1965
Last Audited:Mar 01, 2023
FHLB Member:Yes
Low Income Designation:No
Assets:$120,427,453
CEO/Manager:Janelle Franke
Chairperson:Kurt Hansen

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 2,210,503
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 25,580,557
 Unsecured Loans 7,921,582
 Other Loans 39,802,561
 TOTAL LOANS 73,304,700
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -619,018
 Land And Building 2,073,269
 Other Fixed Assets 197,732
 NCUSIF Deposit 1,119,081
 All Other Assets 0
  TOTAL ASSETS 120,427,453
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 3,000,000
 Accounts Payable & Other Liabilities 1,201,425
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 21,364,465
 Regular shares 45,879,440
 All Other Shares & Deposits 36,153,856
  TOTAL SHARES & DEPOSITS 103,397,761
  TOTAL LIABILITIES 107,599,186
 Regular Reserve 0
 Other Reserves 74,691
 Undivided Earnings 12,753,576
  TOTAL EQUITY 12,828,267
  TOTAL LIABILITIES, SHARES, & EQUITY 120,427,453
INCOME & EXPENSE  
 Loan Income 3,378,684
 Investment Income 994,440
 Other Income 529,196
 Total Employee Compensation & Benefits 2,156,731
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 2,223,942
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 204,500
 Cost of Funds 322,013
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 1,344,408
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