2024-09-05T12:02:10-04:00 2023-12-31 472604526 MYSTIC ACCOUNTING GROUP LLP PO BOX 397 MYSTIC CT 06355 990 2023-01-01 046061145 RIVER WORKS CREDIT UNION RIVE 7815990096 947 WESTERN AVE LYNN MA 01905 JAMES DONAHUE CEO/TREASURER 7815990096 2029-09-05 true false NANETTE A BANCROFT CPA P01315598 8605361040 2024-09-05 2023 2024-08-08 14:25:15Z JAMES DONAHUE 947 WESTERN AVE LYNN MA 01905 6428970 false X RWCU.COM X 1936 MA CREDIT UNION MEMBER SERVICE/THRIFT 9 8 25 8 9732 0 3304417 5176618 284676 590440 985086 661912 4574179 6428970 0 0 1989357 2074801 0 0 2409957 3488254 4399314 5563055 174865 865915 112516103 123514563 97306993 107439538 15209110 16075025 THE PROMOTION OF THRIFT AMONG ITS MEMBERS BY THE ACCUMULATION OF THEIR SAVINGS AND THE LOANING OF SUCH SAVINGS BACK TO ITS MEMBERS AT A MODERATE RATE OF INTEREST. false false MAINTENANCE OF MEMBER SHARE AND DEPOSIT ACCOUNTS, THE PAYMENT OF INTEREST THEREON. NUMBER OF DEPOSIT ACCOUNTS IS 9,979. NUMBER OF LOAN ACCOUNTS IS 1,070. false false false false false false false true false true false false false true false true false false false false false false false false false false false false true false false false false true false false false false false false false false false true 2411 0 25 true true true false false false false false false false X 9 8 false false false false true true true true true false false true true false false true true true true false MA X JAMES DONAHUE 7815990096 947 WESTERN AVE LYNN MA 01905 JAMES DONAHUE CEO/TREASURE 40.00 X X 211058 0 32975 KEVIN J CHILES CHAIRPERSON 10.00 X X 0 0 0 PAUL T CROWLEY VICE CHAIRPE 10.00 X X 4292 0 0 GEORGE HONOR DIRECTOR 10.00 X 0 0 0 PAUL BARRON SECRETARY/DI 10.00 X X 0 0 0 KEVIN MONAHAN DIRECTOR 10.00 X 0 0 0 KEITH KENYON DIRECTOR 10.00 X 0 0 0 NILSON GARCIA DIRECTOR 10.00 X 0 0 0 COLLEEN TWINEM AVP OPERATIO 40.00 X 143387 0 8260 PETER KOPOULOS CFO 40.00 X 128895 0 7433 487632 48668 6 false true false CONNECTICUT ONLINE - COCC 100 EXECUTIVE BLVD SOUTHINGTON CT 06489 DATA PROCESSING 531486 1 INTEREST ON LOANS 522100 5176618 5176618 5176618 590440 590440 FEE AND SERVICE CHARGES 900099 663132 663132 ATM SURCHARGES 900099 9732 9732 OTHER NON INTEREST INCOME -10952 -10952 661912 6428970 6419238 9732 958058 847727 35101 100554 133361 47964 102194 91324 621589 324745 21677 1349680 133557 51860 PROFESSIONAL FEES 252863 MISCELLANEOUS COSTS 247575 LOAN SERVICING COSTS 188920 ATM EXPENSE 86189 -31883 5563055 0 0 0 4989036 7125992 9439030 5975580 91424689 102053761 74777 95583 4815036 2948543 874897 1866493 1156700 1156700 203957 203957 4353017 5036497 112516103 123514563 1884583 2935024 271978 216303 95150432 104288211 97306993 107439538 X 15209110 16075025 15209110 16075025 112516103 123514563 865915 X false true X true false false true X 1244667 1244667 2265433 1858444 406989 226312 226312 1078624 863787 214837 1866493 MEMBER SHARES AND DEPOSITS 104288211 104288211 6428970 6428970 6428970 5563055 5563055 5563055 SCHEDULE D, PAGE 2, PART IV, LINE 2B MORTGAGE ESCROW ACCOUNTS HELD FOR THE PAYMENT OF REAL ESTATE TAXES FOR MUNICIPALITIES. X X false false false JAMES DONAHUE CEO/TREASURER 211058 31688 1287 244033 COLLEEN TWINEM AVP OPERATIONS 143387 7169 1091 151647 AMY BERBINE DAUGHTER W-2 EMPLOYEE false SCHEDULE L, PART V THE CREDIT UNION EXTENDS CREDIT IN LOANS TO ITS EMPLOYEES AND BOARD OF DIRECTORS USING THE SAME GUIDELINES AS AVAILABLE TO ALL MEMBERS. FORM 990, PAGE 6, PART VI, LINE 6 THE CREDIT UNION IS OWNED BY ITS MEMBERS. FORM 990, PAGE 6, PART VI, LINE 7A CREDIT UNION MEMBERS ELECT THEIR VOLUNTEER BOARD OF DIRECTORS WHO ARE ALSO MEMBERS OF THE CREDIT UNION. ONE MEMBER, ONE VOTE. FORM 990, PAGE 6, PART VI, LINE 7B ANY MAJOR CHANGES TO THE CREDIT UNION'S BY-LAWS MUST BE APPROVED BY THE MEMBERSHIP. FORM 990, PAGE 6, PART VI, LINE 11B THE CFO PREPARES FINANCIAL DOCUMENTS FOR THE 990. THE CREDIT UNION'S OUTSIDE CPA AUDITOR REVIEWS THE INFORMATION AND MAKES ANY NECESSARY ADJUSTMENTS WITH THE PREPARATION OF THE 990. THE 990 IS THEN REVIEWED BY THE CEO AND CFO PRIOR TO THE ELECTRONIC FILING OF THE REPORT. THE 990 IS AVAILABLE FOR THE BOARD AND SUPERVISORY COMMITTEE TO REVIEW. FORM 990, PAGE 6, PART VI, LINE 15A PROFESSIONAL CREDIT UNION COMPENSATION SURVEYS ARE OBTAINED AND PROVIDED TO THE BOARD. THE BOARD USES THIS INFORMATION IN CONJUNCTION WITH REVIEW OF THE PERFORMANCE OF THE CEO TO DETERMINE AN APPROPRIATE COMPENSATION AMOUNT. THE BOARD VOTES ON THE CEO'S COMPENSATION. FORM 990, PAGE 6, PART VI, LINE 15B BOARD COMMITTEE REVIEWS ECONOMY AND PERFORMANCE AND MAKES A RECOMMENDATION TO THE BOARD OF DIRECTORS. THE BOARD OF DIRECTORS VOTES TO APPROVE ANY WAGE INCREASE. FORM 990, PAGE 6, PART VI, LINE 19 THE CREDIT UNION'S BYLAWS ARE AVAILABLE UPON REQUEST. FINANCIAL STATEMENTS ARE POSTED IN THE CREDIT UNION'S MAIN LOBBY AND ARE AVAILABLE UPON REQUEST. THEY CAN ALSO BE VIEWED ON NCUA'S WEBSITE.