2011-05-03T08:52:22-07:00 2010-12-31 Cindrich Mahalak & Co 31215 Jefferson Ave St Clair Shores MI 48082 990 2010-01-01 381420780 Rivers Edge Community Credit Union RIVE 3133864500 7240 Park Avenue Allen Park MI 481012040 Thomas F Fisher 3133864500 2011-05-03 1 Rachelle M Piwko 5862961155 2010-05-03 2010 2016-02-24 21:20:13Z Thomas F Fisher 7240 Park Avenue Allen Park MI 481012040 4950458 0 X www.reccu.org X Credit Union 1949 MI To provide financial services to member owners with a common bond. 7 7 41 10 72451 -1852 0 0 4366522 4072480 648424 575753 0 0 5014946 4648233 0 0 0 0 1546701 1576974 0 0 0 3983939 2856285 5530640 4433259 -515694 214974 81890347 82122106 76100899 76015367 5789448 6106739 Building lifelong partnerships through personalized banking solutions. 0 0 0 0 0 Provide 13,452 members with Regular Savings, Checking, Money Market and Certificates of Deposit accounts totaling 21,650. 0 0 0 Provide 5,330 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 products. 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 1830 0 1 41 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 Ave Allen Park MI 481012040 James Krizan 2.0 X 0 0 0 Michael Simms 2 X 0 0 0 Douglas Leonard 2 X 0 0 0 Michael Anderson 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 Thomas Fisher 39.50 X 108261 0 25117 Susan Zavicar 39.50 X 55562 0 23446 163823 0 48563 1 0 0 0 0 0 Loan Interest 522100 2945057 2945057 0 0 Fee Income 524298 1127423 1054972 72451 0 0 0 0 0 4072480 601978 601978 0 0 0 0 0 0 0 0 0 0 0 0 0 276000 0 302225 0 -26225 -26225 -26225 0 0 0 4648233 4575782 72451 0 212386 1019799 51044 177113 116632 49823 19470 196304 570897 344993 323182 9075 11809 197843 181119 249943 Provision for Loan Loss 301106 Loan Servicing 255885 MCSD Impairment 62061 Reduction in OREO Value 28419 Miscellaneous Operating Expenses 23063 31293 4433259 0 0 0 2076149 1780513 144662 213730 50029474 47737110 180008 211005 5679134 2383250 3051415 3295884 15546283 22650081 9030674 4985489 1831682 1248294 81890347 82122106 1711213 1263645 74389686 74751722 76100899 76015367 X 0 0 0 0 5789448 6106739 5789448 6106739 81890347 82122106 X 214974 102317 X 0 1 1 X 0 0 1136054 1136054 0 3007516 986956 2020560 0 0 0 0 0 1535564 1396294 139270 0 0 0 0 3295884 Investments 13947081 F Investments 8703000 C 22650081 Central Corporate Credit Union 4985489 C 4985489 Member Shares 74751722 74751722 Robert C Zavicar Courier Family relationship with Sue Zavicar, AVP of Accounting 15000 compensation as courier 0 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, Parts 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 Credit union decisions that are subject to membership approval are name changes, mergers and field of membership changes. Michigan by-laws are followed for whenever a vote is required of the membership. F990_P06_S0B_L11a Form 990, Part VI, Section B, Line 11a 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 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. 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 March 2010. 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 avaialble for public inspection during regular business hours at the principal office upon request. F990_P11_S00_L05 Form 990, Part XI, Line 5 Net unrealized gains on investments: $162,041, Unrealized Loss Post Retirement Benefits: $-59,724. Total to Form 990, Part XI, Line 5: $102,317.