Elm River Credit Union

Organization Overview

Elm River Credit Union is located in Kindred, ND. The organization was established in 1955. 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, Elm River Credit Union employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Elm River 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 12/2021, Elm River Credit Union generated $1.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $855.0k during the year ending 12/2021. While expenses have increased by 1.9% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

PROVIDE SERVICES TO MEMBERS INCLUDING SAVINGS, IRA'S, CD'S, SHARE DRAFT ACCOUNTS, VARIOUS TYPES OF LOANS. ALSO, DEBIT CARDS, VISA CREDIT CARDS, AND ONLINE FINANCIAL SERVICES, MOBILE APP, AND BILL PAY.

Describe the Organization's Program Activity:

Part 3 - Line 4a

LOAN INCOME


FEES AND CHARGES


VISA DEBIT AND CREDIT CARDS


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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$0
Investment income $13,751
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $157,035
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $1,166,734

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