2022-05-13T09:59:23-05:00 2021-12-31 010523282 Berry Dunn McNeil & Parker LLC PO Box 1100 Portland ME 041041100 990 2021-01-01 050198580 People's Credit Union PEOP 4018468930 858 West Main Road Middletown RI 02842 Sean Daly President & CEO 4018468930 2022-04-29 1 Sean Daly 999009999 Joseph R Byrne P01289281 2077752387 2022-04-29 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z Sean Daly 858 West Main Road Middletown RI 02842 27407366 0 X www.peoplescu.com X Cooperative Financial Institution 1922 RI State chartered credit union 8 8 141 0 47739 39188 0 0 24305258 24180550 1135990 839836 0 0 25441248 25020386 11150 7372 0 0 9305334 9881869 0 0 0 11224378 9144289 20540862 19033530 4900386 5986856 554490757 619991757 495921937 556680074 58568820 63311683 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 15,241 loans to members. The outstanding loan balance at 12/31/21 was $530,221,890. People's maintains savings accounts for members. Total outstanding savings accounts at 12/31/21 was 28,972 for $317,127,076. People's maintains demand deposit accounts for members. Total outstanding demand deposit accounts at 12/31/21 was 23,154 for $231,545,159. People's offers safe deposit boxes to members. The number of safe deposit boxes rented is 1,094. 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 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 4388 0 1 141 1 1 1 0 0 0 0 0 0 0 X 8 8 0 0 0 0 1 1 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 RI X Margaret McGill 4018468930 858 West Main Road Middletown RI 02842 Edward T Lopes Jr Chair 2.00 X X 15200 0 0 Christopher S Ottiano MD Vice Chair 2.00 X X 13200 0 0 William L Douglas Jr Treasurer 2.00 X X 13200 0 0 Alyson Adkins Director 2.00 X 11200 0 0 Louann Lawrence Director 2.00 X 11200 0 0 Terri Marcucci Fitch Director 2.00 X 10000 0 0 Thomas W Vignali CPA Director 2.00 X 10800 0 0 Toni L McGowan Secretary 2.00 X X 12533 0 0 William P Dennis Esq Past Secretary 2.00 X X 4267 0 0 David P Faucher Past Director 2.00 X 3600 0 0 Sean Daly President & CEO 40.00 X 497646 0 16315 Margaret McGill EVP & CFO 40.00 X 219547 0 27462 William DeWitt EVP, Chief Marketing Officer 40.00 X 240061 0 35164 Cormac McCarthy EVP, Chief Lending Officer 40.00 X 234950 0 36363 Kari Reardon Mortgage Loan Officer 40.00 X 183773 0 16801 Diane Crosby Mortgage Loan Officer 40.00 X 175120 0 22594 Karen Parent SVP HR & Talent 40.00 X 174503 0 37189 1830800 0 191888 13 0 1 0 COCC Inc 100 Executive Blvd Southington CT 06489 Data Processing Services 1735009 Think Stack 1300 Thames Street Suite 20 Baltimore MD 21231 Information Technology 465749 Arkatechture PO Box 678 Portland ME 04101 Data & Analytics 236973 Customized Service Concepts LLC 18 Cote Avenue Suite 13 Goffstown NH 03045 ATM Equipment Sales & Service 209709 Meridianlink Inc PO Box 846822 Los Angeles CA 900846822 Loan Origination Software 166269 12 Loan Interest 522100 17382746 17382746 Fee & Service Income 522100 6797804 6750065 47739 24180550 778785 778785 2444719 3312 2386980 0 57739 3312 61051 61051 25020386 24132811 47739 839836 7372 866170 6596493 273753 1585828 559625 37397 207359 595251 576608 927332 887 2886434 15414 227939 584736 801487 164830 Miscellaneous Expenses 1498855 ATM Debit Expense 508841 Bad Debt Expense 105000 UBI Tax 5919 19033530 X 52440760 56377792 254642 14977299 439058163 454914645 657225 575504 28945956 13168937 15917083 15777019 27028930 51136098 3374700 2129700 3817677 4105568 11941577 19998132 554490757 619991757 6458925 6300907 1790204 1522930 487672808 548856237 495921937 556680074 X 0 0 0 0 58568820 63311683 58568820 63311683 554490757 619991757 X 5986856 -1409184 165191 X 0 1 X 1 0 4155259 4155259 18697661 8183806 10513855 15095 11322 3773 5750806 4973809 776997 327135 327135 15777019 Deposits 548758886 Net Pension Liability 97351 548856237 23776393 -1409184 165191 -1243993 25020386 0 25020386 19033530 0 19033530 0 19033530 Part XI, Line 2d - Other Adjustments: Unrealized Gain on Post Retirement Plans 165,191. X 1 1 X X 0 0 0 Sean Daly President & CEO 395642 0 90000 0 12004 0 16315 0 0 0 513961 0 0 0 William DeWitt EVP, Chief Marketing Officer 209278 0 22461 0 8322 0 9555 0 25609 0 275225 0 0 0 Cormac McCarthy EVP, Chief Lending Officer 204160 0 22468 0 8322 0 11312 0 25051 0 271313 0 0 0 Margaret McGill EVP & CFO 190364 0 19619 0 9564 0 8022 0 19440 0 247009 0 0 0 Karen Parent SVP HR & Talent 159503 0 14190 0 810 0 11855 0 25334 0 211692 0 0 0 Kari Reardon Mortgage Loan Officer 182531 0 0 0 1242 0 16801 0 0 0 200574 0 0 0 Diane Crosby Mortgage Loan Officer 168262 0 0 0 6858 0 14190 0 8404 0 197714 0 0 0 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 165,191.