Rivermark Community Credit Union
- Assets
- $1.3b
- Revenue
- $59.1m
- Investments
- $1.4m
- Employees
- 269
- Location
- Beaverton, OR
- Founding
- 10/1944
- Data as of
- 12/2021
- 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 12/2021, Rivermark Community Credit Union employed 269 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 12/2021, Rivermark Community Credit Union generated $59.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.6% each year. All expenses for the organization totaled $47.1m during the year ending 12/2021. While expenses have increased by 5.8% 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
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 87,983 MEMBERS, INCLUDING SHARE DEPOSITS AND LOANS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Seth Schaefer President & CEO | Officer | 40 | $1,185,213 |
Joel C Jenkins Mortgage Originator | 40 | $357,441 | |
Aben A Hill Clo, Credit Officer | Officer | 40 | $293,655 |
Cori N Poland Chief Experience Officer | Officer | 40 | $286,995 |
Joseph Brian Griffis CFO | Officer | 40 | $282,771 |
Stephanie L Strimling Chief Innovation Officer | Officer | 40 | $201,651 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fiserv Inc Financial Software And Hardware | 12/30/21 | $3,423,912 |
Ncr Corporation Online Banking | 12/30/21 | $1,221,785 |
Carroll & Associates Llp Professional Services/contract Negotiato | 12/30/21 | $951,500 |
Financial Technology Solutions Atm/ptk Maintenance, Software And Machin | 12/30/21 | $602,256 |
First Choice Appraisal Management Home Appraisals For Mortgage Application | 12/30/21 | $389,510 |
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 | $48,775,141 |
| Investment income | $5,354,928 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,932,956 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $59,063,025 |
| 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. | $3,847,721 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $18,402,193 |
| Pension plan accruals and contributions | $579,313 |
| Other employee benefits | $2,357,090 |
| Payroll taxes | $1,965,859 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $101,831 |
| Fees for services: Accounting | $145,880 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,243,989 |
| Advertising and promotion | $1,663,894 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,241,096 |
| Travel | $81,572 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,549,902 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,486,482 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $47,068,779 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $18,403,534 |
| Savings and temporary cash investments | $46,882,888 |
| 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 | $562,799,511 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,284,016 |
| Net Land, buildings, and equipment | $10,762,948 |
| Investments—publicly traded securities | $577,918,160 |
| Investments—other securities | $1,381,600 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $61,475,790 |
| Total assets | $1,282,908,447 |
| Accounts payable and accrued expenses | $16,220,624 |
| Grants payable | $0 |
| Deferred revenue | $1,753,017 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $2,847,077 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $500,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,147,950,884 |
| Total liabilities | $1,169,271,602 |
| 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 | $113,636,845 |
| Total liabilities and net assets/fund balances | $1,282,908,447 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
California Credit Union Glendale, CA | $4,290,889,688 | $164,391,792 |
Credit Unions In The State Of California Sunnyvale, CA | $11,067,829,708 | $197,844,755 |
Educational Employees Credit Union Fresno, CA | $4,681,848,243 | $140,033,802 |
Oregon Community Credit Union Eugene, OR | $2,826,121,126 | $182,242,816 |
Provident Credit Union Redwood City, CA | $3,536,838,918 | $114,626,988 |
Valley Strong Credit Union Bakersfield, CA | $3,451,789,893 | $131,789,936 |
Technology Credit Union San Jose, CA | $4,123,158,923 | $173,209,130 |
Credit Unions In The State Of California San Diego, CA | $3,476,522,108 | $114,723,458 |
Premier America Credit Union Chatsworth, CA | $3,406,612,540 | $107,505,968 |
Altura Credit Union Riverside, CA | $2,322,631,067 | $106,884,732 |
Credit Unions In The State Of Washington Olympia, WA | $2,172,440,238 | $102,241,429 |
Credit Unions In The State Of Washington Tacoma, WA | $2,549,084,611 | $105,611,575 |