2016-05-16T15:21:20-05:00 2015-12-31 030210880 AM PEISCH & COMPANY LLP 1020 MEMORIAL DRIVE ST JOHNSBURY VT 05819 990 2015-01-01 030196668 RIVER VALLEY CREDIT UNION RIVE 8022544800 PO BOX 8366 NORTH BRATTLEBORO VT 05304 JEFFREY MORSE CHIEF FINANCIAL OFFICER 8022544800 2016-05-16 1 RICHARD F LYON P00281531 8027485654 2015 2016-09-27 15:27:22Z JILL FORTIER PO BOX 8366 NORTH BRATTLEBORO VT 05304 6259334 0 X WWW.RIVERCU.COM X 1946 VT OPERATE A STATE CHARTERED CREDIT UNION FOR THE BENEFIT OF MEMBERS. 10 10 60 0 65224 -49871 0 0 3717543 4053635 8793 13936 2126971 2134032 5853307 6201603 0 0 169130 157745 2781945 2887410 0 0 0 2481640 2474141 5432715 5519296 420592 682307 84893192 90429024 78825217 83678742 6067975 6750282 TO OPERATE A STATE CHARTERED CREDIT UNION TO PROVIDE LOAN AND DEPOSIT SERVICES FOR THE BENEFIT OF ITS MEMBERS. 0 0 5519296 6136379 PROGRAM SERVICES RELATE TO DAILY OPERATIONS OF A LOCALLY CONTROLLED, FULL SERVICE CREDIT UNION. WE MAKE LOANS, ACCEPT DEPOSIT ACCOUNTS, AND CONTINUALLY AND EFFICIENTLY PROVIDE OTHER RELEVANT FINANCIAL SERVICES TO A MEMBER BASE OF APPROXIMATELY 16,498 INDIVIDUALS. 5519296 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 36 0 60 1 1 1 0 0 0 0 0 0 0 X 10 10 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 VT X JEFFREY J MORSE 8022544800 820 PUTNEY ROAD BRATTLEBORO VT 053048366 DEBORAH CARPENTER VICE CHAIR 1.00 X 0 0 0 RUSSELL FARRAR DIRECTOR 1.00 X 0 0 0 JAMES BEDARD SECRETARY 1.00 X 0 0 0 LARRY KRAFT DIRECTOR 1.00 X 0 0 0 SAMANTHA BOVAT DIRECTOR 1.00 X 0 0 0 RICHARD CARROLL DIRECTOR 1.00 X 0 0 0 MICHAEL COONEY CHAIRPERSON 2.00 X 0 0 0 MICHAEL ROGERS TREASURE 2.00 X 0 0 0 ROBIN SWEETAPPLE DIRECTOR 1.00 X 0 0 0 JAMES VALENTE SUPERVISORY 2.00 X 0 0 0 EUGENE WHITNEY SUPERVISORY 2.00 X 0 0 0 GEORGE ATHENS SUPERVISORY 1.00 X 0 0 0 JOHN JAMISON SUPERVISORY 1.00 X 0 0 0 KAREN CEDERGREN VP-BRANCH ADMINISTRATION 50.00 X 73038 0 2869 STEPHEN DUCLOS VP-MORTGAGE LENDING 50.00 X 97813 0 3842 KIMBERLEY GOUGER VP-CONSUMER LENDING 50.00 X 39135 0 1499 JILL FORTIER VP-CFO 50.00 X 76225 0 3015 JEFFREY MORSE CEO/PRESIDENT 50.00 X 194218 0 6655 480429 0 17880 1 0 1 0 GPI CONTRUCTION INC 436 CANAL STREET SUITE 101 BRATTLEBORO VT 05301 BUILDING CONSTRUCTION 381280 BLUE CROSS BLUE SHIELD PO BOX 1950 BRATTLEBORO VT 05302 HEALTH INSURANCE 371997 2 INTEREST INCOME 522100 4053635 4053635 4053635 13936 13936 53282 57731 -4449 -4449 -4449 SERVICE FEES 522100 1047723 1047723 CARD PROCESSING FEES 522100 575226 575226 NSF AND OVERDRAFT FEES 522100 217774 217774 297758 228085 69673 2138481 6201603 6136379 65224 0 157745 157745 480429 480429 1656073 1656073 62261 62261 500124 500124 188523 188523 1963 1963 139232 139232 249337 249337 307438 307438 32355 32355 53428 53428 185628 185628 56337 56337 DEBIT CARD FEES 367974 367974 PROVISION FOR LOAN LOSS 286500 286500 OTHER 162166 162166 PROFESS. & OUTSIDE SERV 137789 137789 493994 493994 5519296 5519296 0 0 4181474 3818960 2424712 2724395 54169 67798 73514274 78645876 204460 233957 5531712 1984354 3188802 3547358 1325301 1390680 84893192 90429024 157828 176985 5500000 3000000 73167389 80501757 78825217 83678742 X 0 0 0 0 6067975 6750282 6067975 6750282 84893192 90429024 682307 0 X X 0 1 X 1 0 484863 484863 3973563 1114577 2858986 39622 36612 3010 1033664 833165 200499 3547358 MEMBER DEPOSITS 80501757 80501757 X 6259334 57731 57731 6201603 0 6201603 5577027 57731 57731 5519296 0 5519296 PART X, LINE 2: GENERALLY ACCEPTED ACCOUNTING STANDARDS PRESCRIBE A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, AND PROVIDES GUIDANCE ON DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE, AND TRANSITION. THE CREDIT UNION IS NOT AWARE OF ANY SUCH UNCERTAIN TAX POSITIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 57,731. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 57,731. X 0 0 0 JEFFREY MORSE CEO/PRESIDENT 169439 0 24779 0 0 0 6655 0 0 0 200873 0 0 0 DEBORAH CARPENTER DIRECTOR PERSONAL X 91203 52257 0 1 1 KIM GOUGER OFFICER MORTGAGE X 123859 65036 0 1 1 JEFFREY MORSE PRESIDENT/CEO MORTGAGE X 100000 100467 0 1 1 STEPHEN DUCLOS OFFICER MORTGAGE X 250000 239564 0 1 1 JAMES BEDARD DIRECTOR MORTGAGE X 225000 214685 0 1 1 ARTHUR SNARSKI DIRECTOR PERSONAL X 2000 1483 0 1 1 LARRY KRAFT DIRECTOR PERSONAL X 14461 27821 0 1 1 MICHAEL ROGERS DIRECTOR PERSONAL X 20045 6707 0 1 1 JAMES VALENTE SUPERVISORY COMMITTEE PERSONAL X 10000 7252 0 1 1 RUSSELL FARRAR DIRECTOR PERSONAL X 10000 10000 0 1 1 MICHAEL COONEY DIRECTOR PERSONAL X 25000 276 0 1 1 725548 FORM 990, PART VI, SECTION A, LINE 6 ENTITY IS A CREDIT UNION WITH 16,498 MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF RVCU ELECT AT LEAST ONE MEMBER OF THE BOARD OF DIRECTORS FORM 990, PART VI, SECTION A, LINE 7B ENTITY WIDE DECISIONS INCLUDING ELECTION OF OFFICERS, MERGER AND ACQUISITION, AND CHANGES TO BY-LAWS OR GOVERNING DOCUMENTS WOULD REQUIRE MEMBERSHIP APPROVAL. FORM 990, PART VI, SECTION B, LINE 11 FORM 990 IS REVIEWED BY THE CEO AND CFO PRIOR TO FILING. FILING IS REPORTED TO THE BOARD OF DIRECTORS AND MADE AVAILABLE FOR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C RELATED PARTY QUESTIONNAIRES ARE COMPLETED BY DIRECTORS ANNUALLY TO DETERMINE ANY CONFLICTING INTERESTS. FORM 990, PART VI, SECTION B, LINE 15 CEO COMPENSATION IS REVIEWED AND APPROVED BY A COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS. OFFICER COMPENSATION IS INITIATED AND APPROVED BY THE CEO AND CONSIDERED BY THE BOARD IN ANNUAL BUDGET REPORTING. FORM 990, PART VI, SECTION C, LINE 19 RVCU MAKES ITS DOCUMENTS AVAILABLE TO THE PUBLIC BY REQUEST WITH THE EXCEPTION OF THE FINANCIAL STATEMENTS WHICH ARE POSTED IN EACH BRANCH LOBBY. FORM 990, PART VII DEBORAH CARPENTER - 190 CANOE BROOK ROAD, E DUMMERSTON, VT 05346. RUSSELL FARRAR - 2618 FLAMSTEAD ROAD, CHESTER, VT 05143. JAMES BEDARD - 186 MAPLE STREET, BRATTLEBORO, VT 05301. KAREN CEDERGREN - PO BOX 2532, W. BRATTLEBORO, VT 05303. STEPHEN DUCLOS - 20302 DEERBROOK WAY, WOODSTOCK, VT 05091. KIMBERLEY GOUGER - 7 MOSS HOLLOW LANE, NEWFANE, VT 05345. JILL FORTIER - 579 MT HERMAN STATION ROAD, NORTHFIELD, MA 01360. LARRY KRAFT - 12 PINEBROOK LANE F-8, N. SPRINGFIELD, VT 05150. SAMANTHA BOVAT - 270 HILL ROAD, BROOKLINE, VT 05345. RICHARD CARROLL - 93 SOUTHERN HEIGHTS DRIVE, VERNON, VT 05354. JEFFREY MORSE - PO BOX 538-6 NAMASCHAUG LANDING, SPOFFORD, NH 03462. MICHAEL COONEY - 146 NEWFANE ROAD, WARDSBORO, VT 05355. MICHAEL ROGERS - 33 NORCROSS LANDING, W CHESTERFIELD, NH 03466. ROBIN SWEETAPPLE - 84 OAK STREET, BRATTLEBORO, VT 05301. JAMES VALENTE - 92 GREEN STREET, BRATTLEBORO, VT 05301. EUGENE WHITNEY - PO BOX 57, W DUMMERSTON , VT 05357. GEORGE ATHENS - 39 OLIVE STREET, BRATTLEBORO, VT 05301. JOHN JAMISON - 31 VALLEY STREET, BRATTLEBORO, VT 05301. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR.