Overview
What is 2 Rivers Area Credit Union?
2 Rivers Area Credit Union is a nonprofit financial institution, specifically an Illinois state-chartered credit union, situated at 296 West Jeffery Street, Kankakee, IL 60901. The primary goal of this credit union is to serve its members by offering consumer and real estate loans. As of December 31, 2022, they have 1,786 active loans worth a total of $14,157,274. The credit union operates on a mutual benefit basis, meaning that both loans and dividends are provided to its members, ensuring they receive competitive interest rates on their share deposits. With a small team of 7 employees, 2 Rivers Area Credit Union is dedicated to supporting the financial needs of its members.
Official website here: www.2riversacu.com
Is 2 Rivers Area Credit Union legitimate?
2 Rivers Area Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. 2 Rivers Area Credit Union submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $96,078
Professional Fundraising Fees: $0
Other Salaries and Wages: $218,361
For more financial information, click here
Official website here: www.2riversacu.com
What is the mission statement of 2 Rivers Area Credit Union?
The 2 Rivers Area Credit Union, being an Illinois state-chartered institution, is primarily established for the mutual benefit of its members. Its primary activity involves offering loans to its members and returning dividends to those with share deposits, at competitive interest rates. The credit union is actively engaged in providing consumer loans and real estate loans to its members. As of December 31, 2022, the credit union had 1,786 outstanding loans, totaling $14,157,274. In essence, the credit union operates with a focus on serving its members' financial needs, offering them loans and generating returns on their deposits.
Official website here: www.2riversacu.com
Who is the CEO of 2 Rivers Area Credit Union?
Danita Swanson is the Chairman of 2 Rivers Area Credit Union.
Official website here: www.2riversacu.com
What is the revenue of 2 Rivers Area Credit Union?
2 Rivers Area Credit Union's revenue in 2022 was $1,420,049.
Official website here: www.2riversacu.com
Who are the executives of 2 Rivers Area Credit Union and what are their salaries?
The average compensation at 2 Rivers Area Credit Union during 2022 was $44,920. There are 7 employees and 8 volunteers at 2 Rivers Area Credit Union.
Here are 9 key members and their salaries:
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- Compensation: $94,615
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- Other: $1,463
Official website here: www.2riversacu.com
Where can I find the form 990 for 2 Rivers Area Credit Union?
2 Rivers Area Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.2riversacu.com
Learn more at the official website: www.2riversacu.com
Mission Statement of 2 Rivers Area Credit Union
2 Rivers Area Credit Union, as an Illinois state-chartered institution, is dedicated to serving its members for their mutual benefit. Its primary mission involves extending loans to its member base and returning dividends to them at a competitive interest rate, given their share deposits. Essentially, this credit union functions as a financial cooperative, offering financial assistance to its members and rewarding them with dividends based on their savings contributions.
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Impact
October, 2024
2 Rivers Area Credit Union significantly impacts its community by providing vital financial services that promote economic well-being among its members. Located in Kankakee, Illinois, this credit union is dedicated to serving its members through a range of consumer and real estate loans. As of December 31, 2022, the credit union had 1,786 outstanding loans totaling $14,157,274, demonstrating its essential role in fostering financial stability and access to credit for individuals in the area.
By offering loans at competitive interest rates and paying dividends on member deposits, 2 Rivers Area Credit Union actively supports its members’ financial goals and encourages savings. This mutual benefit framework not only empowers members but also strengthens the local economy by facilitating home ownership and consumer spending. Through its operations, the credit union reinforces the importance of community financial institutions and their ability to create positive outcomes for individuals and families.
This information is meant to be a general summary of 2 Rivers Area Credit Union. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $110,006
- Program Service Revenue: $1,310,043
- Gross Receipts: $1,420,049
Assets and Liabilities:
- Total Assets: $25,117,085
- Total Liabilities: $22,405,537
- Net Assets: $2,711,548
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Member loan interest
Revenue
$691,701
Fee income
Revenue
$618,342
Organization Details
Founding Year
1951
Phone
(815) 935-2270Principal Officer
Danita Swanson
Main Address
296 West Jeffery Street, Kankakee, IL, 60901
Website
www.2riversacu.comNTEE Category
Code: W60 - Public benefit
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