2013-05-10T10:46:17-07:00 2012-12-31 382336859 Cindrich Mahalak & Co 31215 Jefferson Ave St Clair Shores MI 48082 990 2012-01-01 381420780 Rivers Edge Community Credit Union RIVE 3133864500 7240 Park Avenue Allen Park MI 481012040 Thomas F Fisher 3133864500 2013-05-10 1 Denise Luckenbacher P01546100 5862961155 2013-05-10 2012 2016-03-07 17:11:31Z Thomas F Fisher 7240 Park Avenue Allen Park MI 481012040 4269071 0 X www.reccu.org X Credit Union 1949 MI To provide financial services to member owners with a common bond. 7 7 47 7 76830 -9231 0 0 3725713 3533754 487877 583193 0 0 4213590 4116947 0 0 0 0 1487150 1634778 0 0 0 2379958 1744204 3867108 3378982 346482 737965 84296538 89330722 77768277 82095976 6528261 7234746 X Building lifelong partnerships through personalized banking solutions. 0 1 0 0 0 Provide 12,898 members with Regular Savings, Checking, Money Market, and Certificates of Deposit accounts totaling 20,802. 0 0 0 Provide 5,226 loans including Vehicle, Personal, Mortgage, Home Equity, Recreational Vehicle, Share Secured and Credit Card loans. 0 0 0 Offer Automated Teller Machines, Bill Payment, Wire Transfers, Money Orders and various insurance programs. 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1011 0 1 47 1 1 1 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 1 1 0 1 0 0 0 1 1 1 0 X Rivers Edge Community Credit Union 3133864500 7240 Park Avenue Allen Park MI 481012040 James Krizan 2 0 X 0 0 0 Michael Simms 2 0 X 0 0 0 Douglas Leonard 2 0 X 0 0 0 John Weiss 2 0 X 0 0 0 Thomas Crete 2 0 X 0 0 0 Paul Messimer 2 0 X 0 0 0 Kip Horvath 2 0 X 0 0 0 Thomas Fisher 39.50 0 X 104829 0 29964 Susan Zavicar 39.50 0 X 57290 0 28064 162119 0 58028 1 0 0 0 0 0 Loan Interest 522100 2429131 2429131 0 0 Fee Income 524298 1104623 1027793 76830 0 0 0 0 0 3533754 555817 555817 0 0 0 0 0 0 0 0 0 0 0 0 0 179500 0 152124 0 27376 27376 27376 0 0 0 4116947 4040117 76830 0 220147 0 1033649 58012 203434 119536 20819 23811 141966 482667 280927 314095 7483 28847 45811 133425 126941 Loan Servicing 227074 Miscellaneous Operating Expenses 66325 Examination Fees & Association Dues 30048 OREO Expenses 7620 -193655 3378982 0 0 0 1817933 1803646 1039 7820 399664 495914 43841427 41206634 231198 252985 5169094 2368597 2888565 2800497 29426201 36817684 4291774 4414725 1398737 1530817 84296538 89330722 1244478 1393528 76523799 80702448 77768277 82095976 X 0 0 0 0 6528261 7234746 6528261 7234746 84296538 89330722 X 737965 107770 0 0 0 -139250 X 0 1 X 1 0 0 889854 889854 0 2905362 1137327 1768035 0 0 0 0 0 1373878 1231270 142608 0 0 0 0 2800497 Investments 8990995 F CD Investments 27826689 C 36817684 Member Shares 80702448 80702448 F990_P03_S00_L03 Form 990, Part III, Line 3 Discontinued outgoing international wire transfer effective 10/1/12 due to regulatory compliance burden/expense and liability exposure. F990_P04_S00_L12a Form 990, Part IV, Line 12a Audited Financial Statements were completed as of September 30. The Credit Union's tax year ends December 31, therefore Schedule D, Sections XI, XII and XIII cannot be completed. F990_P06_S0A_L06 Form 990, Part VI, Section A, Line 6 The Credit Union has a single class of members with equal rights of ownership, governance and voting. F990_P06_S0A_L07a Form 990, Part VI, Section A, Line 7a The Board of Directors is elected at the Annual Meeting. Each board member is elected for a three year term. F990_P06_S0A_L07b Form 990, Part VI, Section A, Line 7b State of Michigan by-laws are followed whenever a vote is required of the membership. F990_P06_S0B_L11b Form 990, Part VI, Section B, Line 11b A review is conducted by the President and Assistance Vice President of Accounting prior to submission to the IRS. The returns are made available to the Board of Directors for review. F990_P06_S0B_L15 Form 990, Part VI, Section B, Line 15 The Board of Director's Chairman has a standard set of questions that each board member answers regarding the President. The data is compiled and a rating is developed based on the responses provided. the salary is determined by using the CUES salary range book. An average salary is then created based on comparable asset size, number of members, geographic location, etc. Last compensation increase was in 2005, last review 2012. The President evaluates the management team members based upon the accomplishment of their job duties as listed in their Core Competency. The Board of Directors sets the salary range each year based upon information supplied by the President and AVP-HR. They create the salary range by reviewing the latest MCUL and CUNA salary survey. The salary is based upon overall performance of the core items and the approved salary range. The last compensation review was completed in 2012. F990_P06_S0C_L19 Form 990, Part VI, Section C, Line 19 Financial Statements are posted in the credit union lobby. Other documents and policies are available for public inspection during regular business hours at the primary office upon request. F990_P11_S00_L09 Form 990, Part XI, Line 9 Change in OCI-Post Retirement Benefits: $-139,250.