Rivermark Community Credit Union
- Assets
- $1.4b
- Revenue
- $65.3m
- Investments
- $9.0m
- Employees
- 371
- Location
- Beaverton, OR
- Founding
- 10/1944
- Data as of
- 12/2022
- EIN
- 93-6024307
Organization Overview
Rivermark Community Credit Union is located in Beaverton, OR. The organization was established in 1944. 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 12/2022, Rivermark Community Credit Union employed 371 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Rivermark Community 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 12/2022, Rivermark Community Credit Union generated $65.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.2% each year. All expenses for the organization totaled $58.2m during the year ending 12/2022. While expenses have increased by 7.9% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
CONDUCTING CREDIT UNION FINANCIAL SERVICES FOR A MEMBER OWNED FINANCIAL COOPERATIVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED FINANCIAL SERVICES TO 88,569 MEMBERS, INCLUDING SHARE DEPOSITS AND LOANS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kim Bickford Board Chair | OfficerTrustee | 4 | $17,500 |
Dennis Fullan Board Member | Trustee | 2 | $16,000 |
Gloria Zabel Board Vice Chair | OfficerTrustee | 2 | $15,500 |
Josh Stephenson Secretary | OfficerTrustee | 2 | $15,500 |
Bill Roberts Jr Board Member | Trustee | 2 | $14,000 |
Brett Bryant Board Member | Trustee | 2 | $14,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fiserv Inc Financial Software And Hardware | 12/30/22 | $2,122,866 |
Ncr Corporation Online Banking | 12/30/22 | $1,233,439 |
Financial Technology Solutions Atm/ptk Maintenance, Software And Machin | 12/30/22 | $1,095,488 |
Dovenmuehle Mortgage Inc Mortgage Sub-servicer | 12/30/22 | $559,595 |
R&h Construction Construction Contractor | 12/30/22 | $436,656 |
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 | $55,466,465 |
| Investment income | $8,900,658 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $883,561 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $65,250,684 |
| 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. | $2,821,122 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $1,046,091 |
| Other salaries and wages | $17,094,145 |
| Pension plan accruals and contributions | $3,120,273 |
| Other employee benefits | $2,324,653 |
| Payroll taxes | $2,096,801 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $85,900 |
| Fees for services: Accounting | $142,476 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,270,601 |
| Advertising and promotion | $1,594,636 |
| Office expenses | $2,983,361 |
| Information technology | $3,496,525 |
| Royalties | $0 |
| Occupancy | $1,470,547 |
| Travel | $571,795 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $31 |
| Interest | $4,560,256 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,415,267 |
| Insurance | $0 |
| All other expenses | $786,481 |
| Total functional expenses | $58,236,378 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,550,800 |
| Savings and temporary cash investments | $34,498,362 |
| 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 | $817,784,080 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,861,684 |
| Net Land, buildings, and equipment | $11,182,849 |
| Investments—publicly traded securities | $448,174,250 |
| Investments—other securities | $9,010,855 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $62,525,913 |
| Total assets | $1,400,588,793 |
| Accounts payable and accrued expenses | $19,147,523 |
| Grants payable | $0 |
| Deferred revenue | $980,556 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $3,992,014 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $175,000,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,137,453,233 |
| Total liabilities | $1,336,573,326 |
| 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 | $64,015,467 |
| Total liabilities and net assets/fund balances | $1,400,588,793 |