River Region Credit Union
- Assets
- $508.4m
- Revenue
- $29.5m
- Investments
- $35.9m
- Employees
- 108
- Location
- Jefferson City, MO
- Founding
- Data as of
- 12/2023
- EIN
- 44-0623480
Organization Overview
River Region Credit Union is located in Jefferson City, MO. As of 12/2023, River Region Credit Union employed 108 individuals. River Region Credit Union 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 12/2023, River Region Credit Union generated $29.5m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 15.6% each year . All expenses for the organization totaled $24.9m during the year ending 12/2023. While expenses have increased by 15.8% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HIGH QUALITY FINANCIAL SERVICES FOR OUR MEMBERS/OWNERS, ENHANCING THEIR FINANCIAL WELL-BEING WHILE MAINTAINING THE FINANCIAL STRENGTH OF THE CREDIT UNION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES FINANCIAL AND FINANCIALLY RELATED SERVICES TO 30,589 MEMBERS.
PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF DECEMBER 31, 2023, THERE WERE 23,826 LOANS OUTSTANDING TOTALING $396,456,697.
PAID DIVIDENDS ON DEPOSITS TOTALING $8,162,758 FOR THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin Robinson Chairman | Trustee | 1 | $0 |
Allen Floyd Vice Chairman | Trustee | 1 | $0 |
Jerry Ferguson Secretary | Trustee | 1 | $0 |
Dave Williams Treasurer | Trustee | 1 | $0 |
Chris Leuckel Board Member | Trustee | 1 | $0 |
William Borengasser Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $391,883 |
| 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 | $391,883 |
| Total Program Service Revenue | $26,962,773 |
| Investment income | $2,069,609 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $32,311 |
| 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 | $29,456,576 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $32,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,441,685 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,131,317 |
| Pension plan accruals and contributions | $281,868 |
| Other employee benefits | $561,343 |
| Payroll taxes | $425,086 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $37,804 |
| Fees for services: Accounting | $87,326 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $888,192 |
| Advertising and promotion | $1,177,672 |
| Office expenses | $1,171,090 |
| Information technology | $589,806 |
| Royalties | $0 |
| Occupancy | $394,820 |
| Travel | $105,760 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $279,830 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $781,401 |
| Insurance | $107,959 |
| All other expenses | $596,650 |
| Total functional expenses | $24,898,890 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,445,469 |
| Savings and temporary cash investments | $38,547,577 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $4,160,394 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $394,509,278 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,068,620 |
| Net Land, buildings, and equipment | $17,072,285 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $35,874,540 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,707,812 |
| Total assets | $508,385,975 |
| Accounts payable and accrued expenses | $5,844,875 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $254,235 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $9,875,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $448,454,360 |
| Total liabilities | $464,428,470 |
| 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 | $43,957,505 |
| Total liabilities and net assets/fund balances | $508,385,975 |