Civic Intelligence

Richfieldbloomington Credit Union

990 • Fiscal year 2012 • EIN 41-0824021

Jan 01, 2012 to Dec 31, 2012 • Filed on Aug 15, 2013

Organization ProfileWWW.RBCU.ORG

View Organization Page

345 East 77th Street55423
Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Flat

$251,313,092

Flat from 2012

Net Assets

Flat

$21,855,938

Flat from 2012

Liabilities

Flat

$229,457,154

Flat from 2012

Revenue And Expenses

Revenue

-

No earlier filing loaded for comparison.

Expenses

Flat

$12,573,747

Flat from 2012

Net Income

-

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$400M$300M$200M$100M$0Assets 2010: $222,371,111Liabilities 2010: $200,680,300Net Assets 2010: $21,690,8112010Assets 2011: $236,412,946Liabilities 2011: $213,694,441Net Assets 2011: $22,718,5052011Assets 2012: $251,313,092Liabilities 2012: $229,457,154Net Assets 2012: $21,855,9382012Assets 2012: $251,313,092Liabilities 2012: $229,457,154Net Assets 2012: $21,855,9382012Assets 2013: $254,509,694Liabilities 2013: $232,729,184Net Assets 2013: $21,780,5102013Assets 2014: $260,699,520Liabilities 2014: $235,735,037Net Assets 2014: $24,964,4832014Assets 2015: $266,457,842Liabilities 2015: $240,928,272Net Assets 2015: $25,529,5702015Assets 2016: $277,061,730Liabilities 2016: $254,426,781Net Assets 2016: $22,634,9492016Assets 2017: $283,243,766Liabilities 2017: $259,751,932Net Assets 2017: $23,491,8342017Assets 2018: $289,473,840Liabilities 2018: $265,536,114Net Assets 2018: $23,937,7262018Assets 2019: $307,549,200Liabilities 2019: $281,576,931Net Assets 2019: $25,972,2692019Assets 2020: $350,249,139Liabilities 2020: $323,452,944Net Assets 2020: $26,796,1952020Assets 2021: $393,544,128Liabilities 2021: $363,334,002Net Assets 2021: $30,210,1262021Assets 2022: $399,653,229Liabilities 2022: $367,127,824Net Assets 2022: $32,525,4052022Assets 2023: $386,343,958Liabilities 2023: $352,011,648Net Assets 2023: $34,332,3102023Assets 2024: $376,551,920Liabilities 2024: $341,399,769Net Assets 2024: $35,152,1512024

Highlighted filing

2012

Assets$251,313,092
Liabilities$229,457,154
Net Assets$21,855,938
Open 2012 Filing

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$20M$10M$0-$10MExpenses 2010: $12,899,2542010Expenses 2011: $11,466,8292011Expenses 2012: $12,573,7472012Revenue 2012: $11,563,558Expenses 2012: $12,573,747Net Income 2012: -$1,010,1892012Revenue 2013: $11,361,448Expenses 2013: $9,287,343Net Income 2013: $2,074,1052013Revenue 2014: $11,040,204Expenses 2014: $8,828,763Net Income 2014: $2,211,4412014Revenue 2015: $10,728,475Expenses 2015: $9,574,511Net Income 2015: $1,153,9642015Revenue 2016: $11,202,965Expenses 2016: $13,773,386Net Income 2016: -$2,570,4212016Revenue 2017: $11,430,677Expenses 2017: $10,447,208Net Income 2017: $983,4692017Revenue 2018: $11,746,703Expenses 2018: $10,752,916Net Income 2018: $993,7872018Revenue 2019: $12,977,702Expenses 2019: $12,198,185Net Income 2019: $779,5172019Revenue 2020: $13,861,459Expenses 2020: $13,644,511Net Income 2020: $216,9482020Revenue 2021: $17,620,611Expenses 2021: $13,867,144Net Income 2021: $3,753,4672021Revenue 2022: $18,120,740Expenses 2022: $15,133,709Net Income 2022: $2,987,0312022Revenue 2023: $18,658,180Expenses 2023: $16,577,395Net Income 2023: $2,080,7852023Revenue 2024: $19,141,834Expenses 2024: $18,447,257Net Income 2024: $694,5772024

Highlighted filing

2012

Revenue-
Expenses$12,573,747
Net Income-
Open 2012 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2012 to Dec 31, 2012
Signed
Aug 15, 2013
Return Version
2012v2.1
Gross Receipts
$32,030,206
Mission and Program Overview

Mission

To provide lending, savings and other financial services to our qualifying members at terms generally better than available in the marketplace and with a "service based emphasis" that recognizes the members' status as owners.

Major Activities

Activity 2
Provided consumer, mortgage and business loan services to members. Granted 2,401 loans in 2012 which exceeded $41 million dollars in new loan disbursements. Total of all loans outstanding was over $131 million dollars at year end.
Activity 3
Provided outstanding personal and remote access to financial services. In addition to three in-person branches, rbcu members accessed financial service through the use of two sur-charge free atm's, over 4,464 credit cards, nearly 12,339 debit cards and 2,141 atm cards, and nearly 7,706 members using our internet banking site.
Filing and Contact Details

Filer

EIN
41-0824021
Raw XML AppendixShowing 400 of 472 raw XML fields

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IRS990/Activity2/Description0PROVIDED CONSUMER, MORTGAGE AND BUSINESS LOAN SERVICES TO MEMBERS. GRANTED 2,401 LOANS IN 2012 WHICH EXCEEDED $41 MILLION DOLLARS IN NEW LOAN DISBURSEMENTS. TOTAL OF ALL LOANS OUTSTANDING WAS OVER $131 MILLION DOLLARS AT YEAR END.
IRS990/Activity3/Description0PROVIDED OUTSTANDING PERSONAL AND REMOTE ACCESS TO FINANCIAL SERVICES. IN ADDITION TO THREE IN-PERSON BRANCHES, RBCU MEMBERS ACCESSED FINANCIAL SERVICE THROUGH THE USE OF TWO SUR-CHARGE FREE ATM'S, OVER 4,464 CREDIT CARDS, NEARLY 12,339 DEBIT CARDS AND 2,141 ATM CARDS, AND NEARLY 7,706 MEMBERS USING OUR INTERNET BANKING SITE.
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IRS990ScheduleD/Form990ScheduleDPartXIII/Explanation0THE CREDIT UNION IS EXEMPT, UNDER IRC 501(C)(14), FROM FEDERAL AND STATE INCOME TAXES. THE CREDIT UNION ADOPTED THE INCOME TAX STANDARD FOR UNCERTAIN TAX POSITIONS. AS A RESULT, THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF JUNE 30, 2012 AND 2011. THE CREDIT UNION'S TAX YEARS SUBSEQUENT TO 2008 ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES.
IRS990ScheduleD/Form990ScheduleDPartXIII/Explanation1AS ALLOWED BY STATE REGULATORY AUTHORITIES, THE AUDIT IS DONE AS OF JUNE 30. THE REPORTING PERIOD FOR THE AUDIT, THEREFORE, DOES NOT MATCH THE REPORTING PERIOD FOR FORM 990.
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IRS990ScheduleJ/Form990ScheduleJPartII/NamePerson0PATRICK BREKKEN
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IRS990ScheduleJ/Form990ScheduleJPartII/OtherCompensationFilingOrg00
IRS990ScheduleJ/Form990ScheduleJPartII/OtherCompensationRelatedOrgs00
IRS990ScheduleJ/Form990ScheduleJPartII/Title0PRESIDENT
IRS990ScheduleJ/Form990ScheduleJPartII/TotalCompensationFilingOrg0205602
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IRS990/ScheduleJRequired01
IRS990ScheduleJ/SeverancePayment00
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IRS990ScheduleO/GeneralExplanation/Explanation0ELIGIBLE MEMBERSHIP OF RBCU CONSISTS OF PERSONS WHO LIVE IN, WORSHIP IN, ATTEND SCHOOL IN, WORK IN, OR VOLUNTEER IN AND BUSINESSES AND OTHER LEGAL ENTITIES LOCATED IN THE CITIES OF RICHFIELD, BLOOMINGTON AND EDINA AND THE ADJACENT AREAS KNOWN AS THE MINNEAPOLIS-ST. PAUL INTERNATIONAL AIRPORT (MAC) AND FORT SNELLING. ALSO INCLUDED ARE EMPLOYEES AND RETIREES OF ANY AND ALL SCHOOLS LOCATED IN THE CITY OF RICHFIELD AND EMPLOYEES OF BLOOMINGTON INDEPENDENT SCHOOL DISTRICT #271. ELIGIBLE MEMBERSHIP INCLUDES ALL STUDENTS IN GRADES 9 THROUGH 12 ATTENDING RICHFIELD HIGH SCHOOL, BLOOMINGTON JEFFERSON HIGH SCHOOL AND BLOOMINGTON KENNEDY HIGH SCHOOL; EMPLOYEES OF THE CITY OF RICHFIELD AND RBCU; AND OTHER SMALL EMPLOYER GROUPS OR ASSOCIATIONS. IN ADDITION TO A REGULARLY QUALIFIED MEMBER, MEMBERS OF THE SAME HOUSEHOLD, THE SPOUSE OF A MEMBER, THE BLOOD OR ADOPTIVE RELATIVES OF EITHER OF THEM AND THEIR SPOUSES MAY BE MEMBERS.
IRS990ScheduleO/GeneralExplanation/Explanation1ALL MEMBERS IN GOOD STANDING AND AT LEAST 18 YEARS OLD RECEIVE ONE VOTE IN ANNUAL ELECTIONS OF THE BOARD OF DIRECTORS.
IRS990ScheduleO/GeneralExplanation/Explanation2CHARTER CHANGES MUST BE APPROVED BY THE MEMBERSHIP.
IRS990ScheduleO/GeneralExplanation/Explanation3FORM 990 WILL BE REVIEWED BY THE CREDIT UNION'S CFO AND THEN BE SUBMITTED TO THE PRESIDENT FOR FINAL APPROVAL.
IRS990ScheduleO/GeneralExplanation/Explanation4FORM 990 WLL BE REVIEWED BY THE CREDIT UNON'S CFO AND THEN BE SUBMITTED TO THE PRESIDENT FOR FINAL APPROVAL.
IRS990ScheduleO/GeneralExplanation/Explanation5THE BOARD AND SENIOR MANAGERS ARE REQUIRED TO DISCLOSE ANY AFFILIATIONS IN A SIGNED DOCUMENT ANNUALLY. CONFLICT OF INTEREST POLICY IS INCLUDED IN THE EMPLOYEE HANDBOOK. THE CREDIT UNION IS REVIEWING THE PROCEDURES RELATED TO ENFORCEMENT OF THIS POLICY AND IS LOOKING TO EXPAND REQUIREMENTS IN THE FUTURE.
IRS990ScheduleO/GeneralExplanation/Explanation6THE HR DEPARTMENT COMPARES THE COMPENSATION FOR ALL OFFICERS AND KEY EMPLOYEES TO COMPENSATION SURVEYS OBTAINED THROUGH OUR NATIONAL TRADE ASSOCIATION FOR CREDIT UNIONS IN OUR ASSET CLASS AND GEOGRAPHICAL REGION. ANNUAL ADJUSTMENTS ARE MADE WITH AN EYE TOWARD MAINTAINING TOTAL COMPENSATION FOR EACH INDIVIDUAL NEAR INDUSTRY NORMS CONSIDERING THE POSITION, QUALIFICATIONS AND EXPERIENCE. THE FINAL DECISION ON COMPENSATION IS MADE BY THE CEO FOR ALL OFFICERS AND KEY EMPLOYEES AND THE BOARD OF DIRECTORS FOR THE CEO. THIS PROCESS WAS COMPLETED FOR ALL OFFICERS AND KEY EMPLOYEES IN 2012.
IRS990ScheduleO/GeneralExplanation/Explanation7FINANCIAL STATEMENTS ARE POSTED IN THE CREDIT UNION LOBBY.
IRS990ScheduleO/GeneralExplanation/Explanation8AS ALLOWED BY STATE REGULATORY AUTHORITIES, THE AUDIT IS DONE AS OF JUNE 30. THE REPORTING PERIOD FOR THE AUDIT, THEREFORE, DOES NOT MATCH THE REPORTING PERIOD FOR FORM 990.
IRS990ScheduleO/GeneralExplanation/ReturnReference0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/GeneralExplanation/ReturnReference1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/GeneralExplanation/ReturnReference2FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/GeneralExplanation/ReturnReference3FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/GeneralExplanation/ReturnReference4FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/GeneralExplanation/ReturnReference5FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/GeneralExplanation/ReturnReference6FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/GeneralExplanation/ReturnReference7FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/GeneralExplanation/ReturnReference8FORM 990, PART XII, LINE 2B:
IRS990/ScheduleORequired01
IRS990/School00
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IRS990/TheBooksAreInCareOf/AddressUS/AddressLine109055 LYNDALE AVENUE SOUTH
IRS990/TheBooksAreInCareOf/AddressUS/City0BLOOMINGTON

Document Assets

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Filings

Displayed year

2012 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$251,313,092
Liabilities
$229,457,154
Net assets
$21,855,938
Revenue
-
Expenses
$12,573,747
Net income
-
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$377$341$35.2$19.1$18.4$0.69
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$386$352$34.3$18.7$16.6$2.08
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$400$367$32.5$18.1$15.1$2.99
2021Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$394$363$30.2$17.6$13.9$3.75
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$350$323$26.8$13.9$13.6$0.22
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$308$282$26.0$13.0$12.2$0.78
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$289$266$23.9$11.7$10.8$0.99
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$283$260$23.5$11.4$10.4$0.98
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$277$254$22.6$11.2$13.8$2.57
2015Detailed filing. Detailed filing data is available for this year.$266$241$25.5$10.7$9.57$1.15
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$261$236$25.0$11.0$8.83$2.21
2013Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$255$233$21.8$11.4$9.29$2.07
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$251$229$21.9$12.6
2012Summary only. Only limited summary data is available for this year.$251$229$21.9$11.6$12.6$1.01
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$236$214$22.7$11.5
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$222$201$21.7$12.9