River Valley Credit Union Inc
- Assets
- $417.8m
- Revenue
- $18.2m
- Investments
- $6.4m
- Employees
- 121
- Location
- Miamisburg, OH
- Founding
- 04/1969
- Data as of
- 12/2021
- EIN
- 31-0547898
Organization Overview
River Valley Credit Union Inc is located in Miamisburg, OH. The organization was established in 1969. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, River Valley Credit Union Inc employed 121 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. River Valley Credit Union Inc is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.
For the year ending 12/2021, River Valley Credit Union Inc generated $18.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $14.8m during the year ending 12/2021. While expenses have increased by 0.7% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
A NON-PROFIT FINANCIAL INSTITUTION THAT IS OWNED AND OPERATED ENTIRELY BY ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED FINANCIAL SERVICES TO ITS MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John E Bowen President/ceo | Officer | 40 | $283,951 |
Lee Spivey Svp/cfo | Officer | 40 | $176,902 |
Suzanne M Roush SVP Operations | Officer | 40 | $157,225 |
Robert L Delong Jr SVP Lending | Officer | 40 | $157,220 |
Eric Gagliano SVP Sales/marketing | Officer | 40 | $155,269 |
Peggy Mowry Svp/cio | Officer | 40 | $145,346 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $17,188,880 |
| Investment income | $999,446 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $18,188,326 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,658,210 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,875,525 |
| Pension plan accruals and contributions | $699,094 |
| Other employee benefits | $657,581 |
| Payroll taxes | $383,539 |
| Fees for services: Management | $32,243 |
| Fees for services: Legal | $60,000 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $58,999 |
| Advertising and promotion | $360,000 |
| Office expenses | $1,585,343 |
| Information technology | $545,179 |
| Royalties | $0 |
| Occupancy | $516,321 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $24,210 |
| Interest | $1,775,629 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $636,746 |
| Insurance | $156,743 |
| All other expenses | $0 |
| Total functional expenses | $14,776,286 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,609,514 |
| Savings and temporary cash investments | $12,848,009 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $319,504,788 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $667,954 |
| Net Land, buildings, and equipment | $4,657,545 |
| Investments—publicly traded securities | $64,270,006 |
| Investments—other securities | $6,378,388 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,887,317 |
| Total assets | $417,823,521 |
| Accounts payable and accrued expenses | $4,181,589 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $9,135,115 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $361,922,605 |
| Total liabilities | $375,239,309 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $42,584,212 |
| Total liabilities and net assets/fund balances | $417,823,521 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that River Valley Credit Union Inc has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Ohio Credit Union Foundation Columbus, OH PURPOSE: COVID-19 RELIEF GRANT | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Credit Unions Chartered In The State Of Michigan Frankenmuth, MI | $1,071,337,170 | $67,769,311 |
Credit Unions Chartered In The State Of Michigan Grand Blanc, MI | $1,236,875,968 | $71,459,461 |
Credit Unions Chartered In The State Of Michigan Midland, MI | $2,159,950,542 | $56,115,396 |
42 Kemba Credit Union Inc West Chester, OH | $1,395,836,820 | $59,675,729 |
Credit Unions Chartered In The State Of Michigan Traverse City, MI | $896,646,295 | $51,854,069 |
Beacon Credit Union Wabash, IN | $1,514,735,601 | $47,143,377 |
Credit Unions Chartered In The State Of Michigan Ann Arbor, MI | $1,323,805,807 | $50,830,621 |
Credit Unions Chartered In The State Of Michigan Kalamazoo, MI | $829,123,274 | $44,270,339 |
Indiana University Credit Union Bloomington, IN | $1,349,340,515 | $48,794,263 |
Credit Unions Chartered In The State Of Michigan Saginaw, MI | $1,097,457,613 | $44,555,752 |
Financial Center First Credit Union Indianapolis, IN | $817,315,000 | $38,154,429 |
Belco Community Credit Union Harrisburg, PA | $811,601,260 | $40,862,040 |