2012-08-14T13:17:31-07:00 2011-12-31 382336859 Cindrich Mahalak & Co 31215 Jefferson Ave St Clair Shores MI 48082 990 2011-01-01 381420780 Rivers Edge Community Credit Union RIVE 3133864500 7240 Park Avenue Allen Park MI 481012040 Thomas F Fisher 3133864500 2012-08-14 1 Julia Lynn Rust P01303137 5862961155 2012-08-14 2011 2016-02-24 21:20:13Z Thomas F Fisher 7240 Park Avenue Allen Park MI 481012040 4571607 0 X www.reccu.org X Credit Union 1949 MI To provide financial services to member owners with a common bond. 7 7 44 7 88767 0 0 0 4072480 3725713 575753 487877 0 0 4648233 4213590 0 0 0 0 1576974 1487150 0 0 0 2856285 2379958 4433259 3867108 214974 346482 82122106 84296538 76015367 77768277 6106739 6528261 X Building lifelong partnerships through personalized banking solutions. 0 1 0 0 0 Provide 12,994 members with Regular Savings, Checking, Money Market and Certificates of Deposit accounts totaling 20,902. 0 0 0 Provide 5,155 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 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1396 0 1 44 1 1 1 0 0 0 0 0 X 7 7 0 0 1 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 Ave Allen Park MI 481012040 James Krizan 2 X 0 0 0 Michael Simms 2 X 0 0 0 Douglas Leonard 2 X 0 0 0 John Weiss 2 X 0 0 0 Nina DiMeglio 2 X 0 0 0 Thomas Crete 2 X 0 0 0 Paul Messimer 2 X 0 0 0 Kip Horvath 2 X 0 0 0 Thomas Fisher 39.50 X 107678 0 27534 Susan Zavicar 39.50 X 55743 0 26086 163421 0 53620 1 0 0 0 0 0 Loan Interest Income 522100 2691878 2691878 0 0 Fee Income 524298 1033835 945068 88767 0 0 0 0 0 3725713 621919 621919 0 0 0 0 0 0 0 0 0 0 0 0 0 223975 0 358017 0 -134042 -134042 -134042 0 0 0 4213590 4124823 88767 0 217041 922247 43526 186692 117644 31876 23934 157042 553440 314510 276400 12880 10980 87470 142376 246891 Loan Servicing 235062 Provision for Loan Loss 200046 Reduction in OREO Value 30121 Examination Fees & Association Dues 28501 28429 3867108 0 0 0 1780513 1817933 1039 213730 399664 47737110 43841427 211005 231198 5242158 2353593 3295884 2888565 22650081 29426201 4985489 4291774 1248294 1398737 82122106 84296538 1263645 1244478 74751722 76523799 76015367 77768277 X 0 0 0 0 6106739 6528261 6106739 6528261 82122106 84296538 X 346482 75040 X 0 1 1 X 0 0 889854 889854 0 2889203 1060353 1828850 0 0 0 0 0 1463101 1293240 169861 0 0 0 0 2888565 Investments 9373201 F CD Investments 20053000 C 29426201 Central Corporate Credit Union 4291774 C 4291774 Member Shares 76523799 76523799 Robert C Zavicar Courier Family relationship with Sue Zavicar, AVP Accounting 13500 Compensation 0 F990_P03_S00_L03 Form 990, Part III, Line 3 The Credit Union moved its Bill Pay program from PSCU to DP vendor. 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_L04 Form 990, Part VI, Section A, Line 4 The Credit Union has eliminated the Supervisory Committee. 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 The credit union decisions that are subject to membership approval are name changes, mergers and field of membership changes. 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 Assistant 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 2011. The President evaluates the management team members based upon the accomplishment of thier 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 2011. 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 principle office upon request. F990_P11_S00_L05 Form 990, Part XI, Line 5 Net Unrealized gains on investments: $62,276;Change in OCI-Post Retirement Benefits: $12,765: rounding: $-1. Total to Form 990, Part XI, Line 5: $75,040.