2024-11-12T15:07:14-06:00 2023-12-31 810781371 J TENBRINK & ASSOCIATES 11272 S RIDGEVIEW RD OLATHE KS 660616454 990 2023-01-01 440623480 RIVER REGION CREDIT UNION RIVE 5736354185 3124 WEST EDGEWOOD DRIVE JEFFERSON CITY MO 651096865 RICHARD NICHOLS PRESIDENT/CEO 5736354185 2024-11-12 1 0 GERALD TENBRINK P00638199 9138946214 2024-11-12 2023 2024-10-15 13:58:12Z RICHARD NICHOLS 3124 WEST EDGEWOOD DRIVE JEFFERSON CITY MO 651096865 29456576 0 X WWW.RRCU.ORG X 1954 MO TO PROVIDE HIGH QUALITY FINANCIAL SERVICES FOR OUR MEMBERS/OWNERS, ENHANCING THEIR FINANCIAL WELL-BEING WHILE MAINTAINING THE FINANCIAL STRENGTH OF THE CREDIT UNION. 11 11 108 14 80294 0 0 391883 20567893 26962773 789600 2069609 39597 32311 21397090 29456576 26000 32000 0 0 6981538 7841299 0 0 0 8499819 17025591 15507357 24898890 5889733 4557686 454310727 508385975 415181220 464428470 39129507 43957505 TO PROVIDE HIGH QUALITY FINANCIAL SERVICES FOR OUR MEMBERS/OWNERS, ENHANCING THEIR FINANCIAL WELL-BEING WHILE MAINTAINING THE FINANCIAL STRENGTH OF THE CREDIT UNION. 0 0 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. 0 1 1 0 0 0 0 1 0 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 1 9739 0 1 108 1 1 1 0 0 0 0 0 0 0 X 11 11 0 0 1 0 1 1 1 1 1 0 1 1 1 1 1 1 0 1 1 1 1 1 X GALEN WILHOIT 5736354185 3124 WEST EDGEWOOD DRIVE JEFFERSON CITY MO 651096865 KEVIN ROBINSON CHAIRMAN 1.00 X 0 0 0 ALLEN FLOYD VICE CHAIRMAN 1.00 X 0 0 0 JERRY FERGUSON SECRETARY 1.00 X 0 0 0 DAVE WILLIAMS TREASURER 1.00 X 0 0 0 CHRIS LEUCKEL BOARD MEMBER 1.00 X 0 0 0 WILLIAM BORENGASSER BOARD MEMBER 1.00 X 0 0 0 RICHARD COFFEY BOARD MEMBER 1.00 X 0 0 0 DIANNA SILVESTER BOARD MEMBER 1.00 X 0 0 0 JIM BUSCH BOARD MEMBER 1.00 X 0 0 0 MARTHA NEWMAN BOARD MEMBER 1.00 X 0 0 0 SCOTT THIERET BOARD MEMBER 1.00 X 0 0 0 RICHARD NICHOLS PRESIDENT/CEO 40.00 X 558745 0 233302 GALEN WILHOIT EVP/CHIEF FINANCIAL OFFICER 40.00 X 245285 0 35392 LOUIE DELK CHIEF MEMBER EXPERIENCE OFFICER 40.00 X 197989 0 47441 ANGE DAIPRAI VP-OPERATIONS 40.00 X 94242 0 27399 DANA ALDERMAN VP-BUSINESS DEVELOPMENT 40.00 X 89983 0 20456 DONNA TOEBBEN VP-HUMAN RESOURCES 40.00 X 106149 0 24261 DAVE MILLER VP-RESIDENTIAL LENDING 40.00 X 108246 0 20121 JD MOORE VP-INFORMATION TECHNOLOGY 40.00 X 137695 0 23090 LISA WOLKEN VP-REAL ESTATE LOAN ORIGINATION 40.00 X 153382 0 24722 CRAIG DUNN VP-REAL ESTATE LENDING 40.00 X 161488 0 9409 CHAD KUESTER VP-SPECIALIZED LENDING 40.00 X 102708 0 20180 WILL LEMEN DEALER SERVICES MANAGER 40.00 X 147874 0 33085 2103786 0 518858 10 0 1 0 0 391883 391883 INTEREST ON LOANS 522100 21823717 21823717 FEES & OTHER INCOME 522100 5093688 5058762 34926 WARRANTY & OTHER INSURANCE 524298 45368 45368 26962773 2069609 2069609 32311 32311 29456576 28984399 80294 0 32000 2441685 4131317 281868 561343 425086 37804 87326 888192 1177672 1171090 589806 394820 105760 279830 781401 107959 DIVIDENDS ON SHARES 8162758 PROVISION FOR LOAN LOSS 1524857 LOAN SERVICING 783969 FRAUD EXPENSE 335697 596650 24898890 5894712 5445469 22394019 38547577 4054931 4160394 361431480 394509278 605651 1068620 21810281 4737996 17275225 17072285 32782231 35874540 9872478 11707812 454310727 508385975 4193015 5844875 175284 254235 4575000 9875000 406237921 448454360 415181220 464428470 X 0 0 0 0 39129507 43957505 39129507 43957505 454310727 508385975 X 4557686 -10516 280828 X 0 0 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2700 2700 2700 1 CUPAC OF MISSOURI 223 MADISON STREET JEFFERSON CITY MO 65101 431310069 2700 PART I-A, LINE 1: CONTRIBUTION TO A CREDIT UNION PAC 0 1 X 3837483 3837483 13802414 2220502 11581912 3891884 2423670 1468214 278500 93824 184676 17072285 FHLB MEMBERSHIP STOCK 4233200 C CREDIT UNION SERVICE ORGANIZATIONS 1543887 C AFS-FEDERAL AGENCY SEC 8167417 F AFS-CORPORATE BONDS 1788918 F HTM-CERTIFICATES 20141118 C 35874540 SHARES & DEPOSITS 448454360 448454360 PART IV, LINE 2B: THE CREDIT UNION MAINTAINS ESCROW ACCOUNTS FOR INSURANCE AND PROPERTY TAXES RELATED TO SOME MEMBER REAL ESTATE LOANS. 1 $2,000 SCHOLARSHIPS WERE AWARDED TO 16 STUDENTS 16 32000 PART I, LINE 2: THE RIVER REGION EDUCATION SCHOLARSHIP PROGRAM AWARDS $2,000 SCHOLARSHIPS TO COLLEGE BOUND STUDENTS. TO BE ELIGIBLE, AN APPLICANT (OR PARENT) MUST BE A MEMBER OF RIVER REGION CREDIT UNION. THE BOARD-APPOINTED EDUCATION COMMITTEE REVIEWS APPLICATIONS AND SELECTS WINNERS. FUNDS ARE PAID DIRECTLY TO THE WINNERS UPON PROOF OF ENROLLMENT. X X X 0 1 0 RICHARD NICHOLS PRESIDENT/CEO 405249 0 150571 0 2925 0 203632 0 29670 0 792047 0 0 0 GALEN WILHOIT EVP/CHIEF FINANCIAL OFFICER 204906 0 40379 0 0 0 24804 0 10588 0 280677 0 0 0 LOUIE DELK CHIEF MEMBER EXPERIENCE OFFICER 162490 0 35499 0 0 0 21656 0 25785 0 245430 0 0 0 WILL LEMEN DEALER SERVICES MANAGER 132017 0 15857 0 0 0 15718 0 17367 0 180959 0 0 0 LISA WOLKEN VP-REAL ESTATE LOAN ORIGINATION 120202 0 33180 0 0 0 15413 0 9309 0 178104 0 0 0 CRAIG DUNN VP-REAL ESTATE LENDING 123206 0 38282 0 0 0 0 0 9409 0 170897 0 0 0 JD MOORE VP-INFORMATION TECHNOLOGY 130770 0 6925 0 0 0 13905 0 9185 0 160785 0 0 0 PART I, LINE 3 THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS REVIEWS THE PRESIDENT/CEO'S PERFORMANCE AND DETERMINES COMPENSATION USING VARIOUS INFORMATION, INCLUDING SALARY SURVEYS. DELIBERATIONS AND DECISIONS ARE DOCUMENTED IN THE BOARD MINUTES. PART I, LINE 4B RICHARD NICHOLS, PRESIDENT/CEO IS A PARTICIPANT IN A 457(F) DEFERRED COMPENSATION PLAN. IN 2023, THE CREDIT UNION RECORDED $175,632 EXPENSE RELATED TO THIS PLAN AND NO AMOUNTS WERE PAID OUT. IN ADDITION, THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS THROUGH COLLATERAL ASSIGNMENT SPLIT-DOLLAR LIFE INSURANCE ARRANGEMENTS FOR THE FOLLOWING OFFICERS: - RICHARD NICHOLS, PRESIDENT/CEO - GALEN WILHOIT, CHIEF FINANCIAL OFFICER - LOUIE DELK, CHIEF MEMBER EXPERIENCE OFFICER SEE SCHEDULE L FOR THE RELATED LOANS OUTSTANDING AT DECEMBER 31, 2023. RICHARD NICHOLS PRESIDENT/CEO NONRECOURSE SPLIT-DOLLAR PLAN X 1447850 1874536 0 1 1 GALEN WILHOIT EVP/CHIEF FINANCIAL OFFICER NONRECOURSE SPLIT-DOLLAR PLAN X 1159174 1408509 0 1 1 LOUIE DELK CHIEF MEMBER EXPERIENCE OFFICER NONRECOURSE SPLIT-DOLLAR PLAN X 760000 877349 0 1 1 4160394 FORM 990, PART VI, SECTION A, LINE 4 EFFECTIVE JANUARY 1, 2024, THE CREDIT UNION BECAME A 501(C)(1) FEDERALLY CHARTERED CREDIT UNION AND ALL ORGANIZATIONAL DOCUMENTS WERE UPDATED ACCORDINGLY. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION IS MUTUALLY OWNED BY MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS ARE ELECTED BY THE CREDIT UNION MEMBERS. FORM 990, PART VI, SECTION A, LINE 7B CERTAIN SIGNIFICANT CHANGES ARE SUBJECT TO APPROVAL BY THE CREDIT UNION MEMBERS. IN 2023, MEMBERS VOTED TO APPROVE THE BOARD'S RECOMMENDATION TO CONVERT FROM A STATE CHARTERED CREDIT UNION TO A FEDERALLY CHARTERED CREDIT UNION, EFFECTIVE JANUARY 1, 2024. FORM 990, PART VI, SECTION B, LINE 11B THE PRESIDENT/CEO REVIEWS THE FORM 990 WITH CREDIT UNION MANAGEMENT AND THE ACCOUNTING FIRM PREPARING THE RETURN BEFORE PRESENTING IT TO THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C ON AN ANNUAL BASIS, ALL OFFICERS, DIRECTORS AND KEY EMPLOYEES ARE REQUIRED TO REVIEW THE CONFLICT OF INTEREST POLICY, DISCLOSE ANY INTERESTS THAT COULD GIVE RISE TO CONFLICTS, AND SUBMIT A SIGNED STATEMENT TO THAT EFFECT. THESE STATEMENTS ARE MAINTAINED ON FILE AT THE CREDIT UNION. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS REVIEWS THE PRESIDENT/CEO'S PERFORMANCE AND DETERMINES COMPENSATION USING VARIOUS INFORMATION, INCLUDING SALARY SURVEYS. ALL OTHER MANAGEMENT COMPENSATION IS DETERMINED BY THE PRESIDENT/CEO, ALSO USING SALARY SURVEYS, AND IS PRESENTED AS PART OF THE BUDGET PACKAGE TO THE BOARD OF DIRECTORS FOR APPROVAL. DELIBERATIONS AND DECISIONS ARE DOCUMENTED IN THE BOARD MINUTES. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE PRESENTED AT THE ANNUAL MEETING AND ARE AVAILABLE UPON REQUEST. IN ADDITION, THE NCUA WEBSITE POSTS FINANCIAL INFORMATION AS PART OF THE QUARTERLY CALL REPORTS. OTHER DOCUMENTS, POLICIES, AND PROCEDURES ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CECL TRANSITION ADJUSTMENT 314,729. ADJUSTMENTS FOR PRIOR CARD PROCESSOR FEES -33,901. H5 STRATEGIES LLC 627 W MCCARTY ST STE 303 JEFFERSON CITY MO 65101 843959308 CREDIT UNION SERVICE ORGANIZATION PROVIDING MARKETING SERVICES MO UNRELATED -63776 325063 0 0 0.75000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 H5 STRATEGIES LLC R 533434 ACTUAL PAYMENT FOR SERVICES