2025-05-22T08:56:02-05:00 2024-12-31 010523282 Berry Dunn McNeil & Parker LLC 2211 Congress St Portland ME 04102 990 2024-01-01 050198580 People's Credit Union PEOP 4018468930 858 West Main Road Middletown RI 02842 Patricia Carlin Head of Finance and Risk 4018468930 2025-05-21 1 1 Joseph R Byrne P01289281 2077752387 2025-05-21 2024 2025-03-06 01:10:19Z Sean Daly 858 West Main Road Middletown RI 02842 35000261 0 X www.peoplescu.com X Cooperative Financial Institution 1922 RI State chartered credit union 11 11 139 0 42700 32292 0 0 27829077 31801752 2434293 3197076 0 0 30263370 34998828 49633 82885 0 0 10389136 10687454 0 0 0 18368818 23761889 28807587 34532228 1455783 466600 717003402 747015309 651785291 679569720 65218111 67445589 X The priority of People's Credit Union is to offer value added products and services for the benefit of our existing and prospective members. We are committed to providing convenient delivery of our products and services in a friendly, welcoming, and responsive environment. To ensure ongoing confidence and trust, we will continue to promote our financial strength as an organization. 0 0 People's is a member-owned organization committed to providing superior financial services to the community. People's provided 15,852 loans to members. The outstanding loan balance at 12/31/24 was $597,695,524. People's maintains savings accounts for members. Total outstanding savings accounts at 12/31/24 was 31,130 for $394,201,465. People's maintains demand deposit accounts for members. Total outstanding demand deposit accounts at 12/31/24 was 24,195 for $182,968,244. People's offers safe deposit boxes to members. The number of safe deposit boxes rented is 1,000. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 5714 0 1 139 1 1 1 0 0 0 0 0 0 0 X 11 11 0 0 0 0 1 1 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 RI X Patricia Carlin 4018468930 858 West Main Road Middletown RI 02842 Christopher S Ottiano MD Board Chair 2.00 X X 14800 0 0 Edward T Lopes Jr Board Vice Chair 2.00 X X 11733 0 0 Thomas W Vignali CPA Board Treasurer 2.00 X X 12000 0 0 Toni Lyn McGowan Board Secretary 2.00 X X 12800 0 0 Alyson Adkins Board Member 2.00 X 11467 0 0 Timothy J DelGiudice Board Member 2.00 X 7600 0 0 William L Douglas Jr Board Member 2.00 X 10800 0 0 Terri Marcucci Fitch Board Member 2.00 X 10800 0 0 Steven Kozlowski Board Member 2.00 X 7200 0 0 Frank Newsome Board Member 2.00 X 11103 0 0 John Trifero Board Member 2.00 X 10800 0 0 Louann Lawrence Past Board Member 2.00 X 3200 0 0 Sean Daly Head of People's Credit Union 40.00 X 450935 0 23550 Patricia Carlin Head of Finance & Risk 40.00 X 160406 0 6105 Margaret McGill Past Head of Finance & Risk 40.00 X 250272 0 16988 William DeWitt Head of Member Delivery & Marketing 40.00 X 235495 0 41338 Timothy Jermain Head of Lending 40.00 X 237996 0 25304 Karen Parent Head of HR & Talent 40.00 X 179624 0 41006 Christopher Eden Head of IS & Technology 40.00 X 160767 0 18876 John Banks Head of Mortgage Operations 40.00 X 127948 0 3827 1927746 0 176994 13 0 1 0 COCC Inc 100 Executive Blvd Southington CT 06489 Data Processing Services 1511490 Alkami Technology 5601 Granite Parkway Suite 120 De Plano TX 75024 Information Technology 703623 Think Stack 11307 York Rd Ste B Cockeysville MD 210301963 Information Technology 407414 Fiserv Inc PO Box 934057 Atlanta GA 311934057 Data Processing Services 310996 Baker Hill Solutions LLC 1320 City Center Drive 300 Carmel IN 46032 Consultants 250725 11 Loan Interest 522100 25831781 25831781 Fee & Service Income 522100 5969971 5927271 42700 31801752 3198509 3198509 1433 -1433 -1433 -1433 34998828 31759052 42700 3197076 82885 1032559 7953815 64484 941732 694864 28613 255295 454716 772499 645028 392702 3030534 42062 133255 13018905 1233211 94884 Data Processing 2151410 Miscellaneous Expenses 1202669 Deposit Tax Expense 297706 UBI Tax 8400 34532228 X 15174646 26976404 5736670 2049315 563646474 596147056 695133 572793 32753322 14957689 16734796 17795633 76639383 63382747 3910500 4046300 7375075 8365456 27090725 27679605 717003402 747015309 9921762 8347806 1854198 2054909 640009331 669167005 651785291 679569720 X 0 0 0 0 65218111 67445589 65218111 67445589 717003402 747015309 X 466600 526594 1234284 X 0 1 X 1 0 5734117 5734117 20138912 9474903 10664009 15095 12272 2823 6588812 5470514 1118298 276386 276386 17795633 Deposits 577167005 Federal Home Loan Bank Advances 92000000 669167005 36759706 526594 1234284 1760878 34998828 0 34998828 34532228 0 34532228 0 34532228 Part XI, Line 2d - Other Adjustments: Unrealized Gain on Post Retirement Plans 1,234,284. 0 Farm Fresh Rhode Island 10 Sims Avenue Providence RI 02909 204625643 501(c)(3) 10000 0 Donation to organization as Day of Purpose Partner Bike Newport 62 Broadway Newport RI 02840 453804746 501(c)(3) 10000 0 Bike Garage Sponsorship 2 0 Part I, Line 2: The Organization has made donations to various 501(c)(3) organizations. The Organization did not monitor the use of funds to these organizations. X 1 1 X X 1 0 0 Sean Daly Head of People's Credit Union 444505 0 0 0 6430 0 23550 0 0 0 474485 0 0 0 William DeWitt Head of Member Delivery & Marketing 225826 0 105 0 9564 0 17614 0 23724 0 276833 0 0 0 Margaret McGill Past Head of Finance & Risk 73869 0 0 0 176403 0 11837 0 5151 0 267260 0 0 0 Timothy Jermain Head of Lending 234432 0 0 0 3564 0 7200 0 18104 0 263300 0 0 0 Karen Parent Head of HR & Talent 178382 0 0 0 1242 0 14082 0 26924 0 220630 0 0 0 Christopher Eden Head of IS & Technology 159988 0 0 0 779 0 11509 0 7367 0 179643 0 0 0 Patricia Carlin Head of Finance & Risk 158664 0 0 0 1742 0 4673 0 1432 0 166511 0 0 0 Part I, Line 4a Margaret McGill, Past Head of Finance & Risk, received severance pay of $173,304 during 2024. Form 990, Part VI, Section A, line 6 People's Credit Union is owned by its members. Form 990, Part VI, Section A, line 7a All People's Credit Union members are encouraged to attend the annual meeting, where they may vote to elect the volunteer Board of Directors who oversee the Credit Union's operations. Each member in good standing receives one vote, regardless of their account balance. Form 990, Part VI, Section B, line 11b The Form 990 is reviewed by the CFO and by the Board of Directors. Form 990, Part VI, Section B, line 12c The Board of Directors, Supervisory Committee and all employees certify annually as to potential conflicts of interest. Form 990, Part VI, Section B, line 15 Peer information is obtained through surveys and utilized in benchmarking compensation. Form 990, Part VI, Section C, line 19 Consolidated financial statements are posted in each branch lobby. Financial information is reported quarterly to the federal regulator and available to the public on their website. The Organization also makes its governing documents and conflict of interest policy available to public upon request. Form 990, Part X, Line 10: Land, Buildings, and Equipment Section 1.263(a)-3(n) Election: People's Credit Union 858 West Main Road Middletown, RI 02842 EIN 05-0198580 People's Credit Union is electing to capitalize repair and maintenance costs under Regulation Section 1.263(a)-3(n). Form 990, Part XI, line 9: Unrealized Gain on Post Retirement Plans 1,234,284. Adoption of ASU No. 2016-13