GREENWOOD CREDIT UNION INC: Form 990, tax year 2020

View the entire original 990 at ProPublica ↗

Organization: GREENWOOD CREDIT UNION INC (EIN 05-0254228)
Tax period: 2020-01-01 to 2020-12-31
Filed: 2021-11-10
IRS object ID: 202133149349302053
Schema version: 2020v4.0
Source: Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header
Form 990
Schedule D
Schedule J
Schedule O

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2021-11-10T08:54:43-06:00	ReturnTs
Tax Period End	2020-12-31	TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Field	Value	IRS element (for citing)
Preparer Firm EIN	472604526	PreparerFirmEIN

Preparer Firm Name PreparerFirmName

Field	Value	IRS element (for citing)
Business Name Line1	GARVEY STEELE & BANCROFT LLP	BusinessNameLine1Txt

Preparer US Address PreparerUSAddress

Field	Value	IRS element (for citing)
Address Line1	PO BOX 397	AddressLine1Txt
City	MYSTIC	CityNm
State Abbreviation	CT	StateAbbreviationCd
ZIP	063550397	ZIPCd

Field	Value	IRS element (for citing)
Return Type	990	ReturnTypeCd
Tax Period Begin	2020-01-01	TaxPeriodBeginDt

Filer Filer

Field	Value	IRS element (for citing)
EIN	050254228	EIN

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	GREENWOOD CREDIT UNION INC	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Business Name Control	GREE	BusinessNameControlTxt
Phone	4017394600	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	2669 POST ROAD	AddressLine1Txt
City	WARWICK	CityNm
State Abbreviation	RI	StateAbbreviationCd
ZIP	02886	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	ANDREW BROWN	PersonNm
Person Title	CFO/SR. VP	PersonTitleTxt
Phone	4015622700	PhoneNum
Signature	2021-11-10	SignatureDt
Discuss With Paid Preparer	Yes (true)	DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

Field	Value	IRS element (for citing)
Person First	ANDREW	PersonFirstNm
Person Last	BROWN	PersonLastNm

Field	Value	IRS element (for citing)
SSN	999009999	SSN

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	MICHAEL R GARVEY CPA	PreparerPersonNm
PTIN	P00264137	PTIN
Phone	8605369831	PhoneNum
Preparation	2021-11-10	PreparationDt

Field	Value	IRS element (for citing)
Tax	2020	TaxYr
Build TS	2022-09-23 18:48:47Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Principal Officer	FREDERICK REINHARDT	PrincipalOfficerNm

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	2669 POST ROAD	AddressLine1Txt
City	WARWICK	CityNm
State Abbreviation	RI	StateAbbreviationCd
ZIP	02886	ZIPCd

Field	Value	IRS element (for citing)
Gross Receipts	$30,056,335	GrossReceiptsAmt
Group Return For Affiliates	false	GroupReturnForAffiliatesInd
Organization501c	Yes (X)	Organization501cInd
Website Address	WWW.GREENWOODCU.ORG	WebsiteAddressTxt
Type Of Organization Corp	Yes (X)	TypeOfOrganizationCorpInd
Formation	1948	FormationYr
Legal Domicile State	RI	LegalDomicileStateCd
Activity Or Mission	THE CREDIT UNION IS AN ASSOCIATION OWNED BY ITS MEMBER DEPOSITORS. INTEREST INCOME FROM LOANS AND INVESTMENTS ALLOW THE CREDIT UNION TO PROVIDE LOW COST FINANCIAL SERVICES TO ITS MEMBERS.	ActivityOrMissionDesc
Voting Members Governing Body	10	VotingMembersGoverningBodyCnt
Voting Members Independent	0	VotingMembersIndependentCnt
Total Employee	87	TotalEmployeeCnt
Total Gross UBI	$46,883	TotalGrossUBIAmt
CY Contributions Grants	$0	CYContributionsGrantsAmt
PY Program Service Revenue	$25,684,222	PYProgramServiceRevenueAmt
CY Program Service Revenue	$28,637,103	CYProgramServiceRevenueAmt
PY Investment Income	$1,111,298	PYInvestmentIncomeAmt
CY Investment Income	$1,419,232	CYInvestmentIncomeAmt
PY Other Revenue	$58,817	PYOtherRevenueAmt
CY Other Revenue	$0	CYOtherRevenueAmt
PY Total Revenue	$26,854,337	PYTotalRevenueAmt
CY Total Revenue	$30,056,335	CYTotalRevenueAmt
CY Grants And Similar Paid	$0	CYGrantsAndSimilarPaidAmt
CY Benefits Paid To Members	$0	CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid	$5,553,189	PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid	$6,385,341	CYSalariesCompEmpBnftPaidAmt
CY Total Prof Fndrsng Expns	$0	CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense	$0	CYTotalFundraisingExpenseAmt
PY Other Expenses	$18,334,512	PYOtherExpensesAmt
CY Other Expenses	$19,444,973	CYOtherExpensesAmt
PY Total Expenses	$23,887,701	PYTotalExpensesAmt
CY Total Expenses	$25,830,314	CYTotalExpensesAmt
PY Revenues Less Expenses	$2,966,636	PYRevenuesLessExpensesAmt
CY Revenues Less Expenses	$4,226,021	CYRevenuesLessExpensesAmt
Total Assets BOY	$580,210,494	TotalAssetsBOYAmt
Total Assets EOY	$649,024,883	TotalAssetsEOYAmt
Total Liabilities BOY	$530,691,175	TotalLiabilitiesBOYAmt
Total Liabilities EOY	$595,279,543	TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY	$49,519,319	NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY	$53,745,340	NetAssetsOrFundBalancesEOYAmt
Mission	THE CREDIT UNION IS AN ASSOCIATION OWNED BY ITS MEMBER DEPOSITORS. INTEREST INCOME FROM LOANS AND INVESTMENTS ALLOW THE CREDIT UNION TO PROVIDE LOW COST FINANCIAL SERVICES TO ITS MEMBERS.	MissionDesc
Significant New Program Srvc	false	SignificantNewProgramSrvcInd
Significant Change	false	SignificantChangeInd
Desc	INVESTMENT INCOME FROM LOANS AND INVESTMENTS PROVIDE FUNDS NECESSARY TO PROVIDE LOW COST FINANCIAL PRODUCTS TO MEMBER OWNERS. AT DECEMBER 31, 2020, THE CREDIT UNION HAD 95,639 SHARE/DEPOSIT ACCOUNTS AND 41,902 LOAN ACCOUNTS.	Desc
Described In Section501c3	false	DescribedInSection501c3Ind
Schedule B Required	false	ScheduleBRequiredInd
Political Campaign Acty	false	PoliticalCampaignActyInd
Subject To Proxy Tax	false	SubjectToProxyTaxInd
Donor Advised Fund	false	DonorAdvisedFundInd
Conservation Easements	false	ConservationEasementsInd
Collections Of Art	false	CollectionsOfArtInd
Credit Counseling	Yes (true)	CreditCounselingInd
Donor Rstr Or Quasi Endowments	false	DonorRstrOrQuasiEndowmentsInd
Report Land Building Equipment	Yes (true)	ReportLandBuildingEquipmentInd
Report Investments Other Sec	false	ReportInvestmentsOtherSecInd
Report Program Related Invst	false	ReportProgramRelatedInvstInd
Report Other Assets	Yes (true)	ReportOtherAssetsInd
Report Other Liabilities	Yes (true)	ReportOtherLiabilitiesInd
Include FIN48 Footnote	false	IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt	Yes (true)	IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt	false	ConsolidatedAuditFinclStmtInd
School Operating	false	SchoolOperatingInd
Foreign Office	false	ForeignOfficeInd
Foreign Activities	false	ForeignActivitiesInd
More Than5000 K To Org	false	MoreThan5000KToOrgInd
More Than5000 K To Individuals	false	MoreThan5000KToIndividualsInd
Professional Fundraising	false	ProfessionalFundraisingInd
Fundraising Activities	false	FundraisingActivitiesInd
Gaming Activities	false	GamingActivitiesInd
Operate Hospital	false	OperateHospitalInd
Grants To Organizations	false	GrantsToOrganizationsInd
Grants To Individuals	false	GrantsToIndividualsInd
Schedule J Required	Yes (true)	ScheduleJRequiredInd
Tax Exempt Bonds	false	TaxExemptBondsInd
Loan Outstanding	false	LoanOutstandingInd
Grant To Related Person	false	GrantToRelatedPersonInd
Business Rln With Org Mem	false	BusinessRlnWithOrgMemInd
Business Rln With Fam Mem	false	BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent	false	BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri	false	DeductibleNonCashContriInd
Deductible Art Contribution	false	DeductibleArtContributionInd
Terminate Operations	false	TerminateOperationsInd
Partial Liquidation	false	PartialLiquidationInd
Disregarded Entity	false	DisregardedEntityInd
Related Entity	false	RelatedEntityInd
Related Organization Ctrl Ent	false	RelatedOrganizationCtrlEntInd
Activities Conducted Prtshp	false	ActivitiesConductedPrtshpInd
Schedule O Required	Yes (true)	ScheduleORequiredInd
IRP Document	37	IRPDocumentCnt
IRP Document W2 G	0	IRPDocumentW2GCnt
Backup Wthld Compliance	Yes (true)	BackupWthldComplianceInd
Employee	87	EmployeeCnt
Employment Tax Returns Filed	Yes (true)	EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over Limit	Yes (true)	UnrelatedBusIncmOverLimitInd
Form990 T Filed	Yes (true)	Form990TFiledInd
Foreign Financial Account	false	ForeignFinancialAccountInd
Prohibited Tax Shelter Trans	false	ProhibitedTaxShelterTransInd
Taxable Party Notification	false	TaxablePartyNotificationInd
Nondeductible Contributions	false	NondeductibleContributionsInd
Indoor Tanning Services	false	IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt	false	SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc	false	SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VI	Yes (X)	InfoInScheduleOPartVIInd
Governing Body Voting Members	10	GoverningBodyVotingMembersCnt
Independent Voting Member	0	IndependentVotingMemberCnt
Family Or Business Rln	false	FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties	false	DelegationOfMgmtDutiesInd
Change To Org Documents	false	ChangeToOrgDocumentsInd
Material Diversion Or Misuse	false	MaterialDiversionOrMisuseInd
Members Or Stockholders	Yes (true)	MembersOrStockholdersInd
Election Of Board Members	Yes (true)	ElectionOfBoardMembersInd
Decisions Subject To Approva	Yes (true)	DecisionsSubjectToApprovaInd
Minutes Of Governing Body	Yes (true)	MinutesOfGoverningBodyInd
Minutes Of Committees	Yes (true)	MinutesOfCommitteesInd
Officer Mailing Address	false	OfficerMailingAddressInd
Local Chapters	Yes (true)	LocalChaptersInd
Policies Reference Chapters	Yes (true)	PoliciesReferenceChaptersInd
Form990 Provided To Gvrn Body	false	Form990ProvidedToGvrnBodyInd
Conflict Of Interest Policy	Yes (true)	ConflictOfInterestPolicyInd
Annual Disclosure Covered Prsn	Yes (true)	AnnualDisclosureCoveredPrsnInd
Regular Monitoring Enfrc	Yes (true)	RegularMonitoringEnfrcInd
Whistleblower Policy	false	WhistleblowerPolicyInd
Document Retention Policy	Yes (true)	DocumentRetentionPolicyInd
Compensation Process CEO	Yes (true)	CompensationProcessCEOInd
Compensation Process Other	Yes (true)	CompensationProcessOtherInd
Investment In Joint Venture	false	InvestmentInJointVentureInd
Other Website	Yes (X)	OtherWebsiteInd
Upon Request	Yes (X)	UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Field	Value	IRS element (for citing)
Person	ANDREW BROWN	PersonNm
Phone	4017394600	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	2669 POST ROAD	AddressLine1Txt
City	WARWICK	CityNm
State Abbreviation	RI	StateAbbreviationCd
ZIP	02886	ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (15 entries)

TitleTitleTxt	Average Hours Per WeekAverageHoursPerWeekRt	OfficerOfficerInd	Reportable Comp From OrgReportableCompFromOrgAmt	Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt	Other CompensationOtherCompensationAmt	Highest Compensated EmployeeHighestCompensatedEmployeeInd	Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd
FREDERICK REINHARDT
CEO	40.00	Yes (X)	$344,700	$0	$31,380
SHANNON MELCHIONE
MTG LOAN OFF	40.00		$314,546	$0	$12,249	Yes (X)
JOSEPH LAJOIE
CFO/SR VP	40.00	Yes (X)	$228,141	$0	$17,373
HOLLY FERRARA
VP RETAIL LE	40.00		$196,094	$0	$26,580	Yes (X)
MARIANNE VARATTA
SENIOR VP/DI	40.00	Yes (X)	$173,879	$0	$24,062		Yes (X)
THOMAS AHERN
CHAIRMAN/DIR	5.00	Yes (X)	$36,600	$0	$0		Yes (X)
KAREN SD GRANDE ESQ
V CHAIRMAN/D	4.00	Yes (X)	$24,600	$0	$0		Yes (X)
KATHLEEN HITTNER MD
SECRETARY/DI	3.00	Yes (X)	$22,200	$0	$0		Yes (X)
PHILIP SLOCUM
DIRECTOR	1.00		$16,950	$0	$0		Yes (X)
BRIAN MC GURIK
DIRECTOR	1.00		$15,000	$0	$0		Yes (X)
SANDRA POWELL
DIRECTOR	1.00		$12,900	$0	$0		Yes (X)
PETER D'ORSI JR
TREASURER/DI	3.00	Yes (X)	$12,450	$0	$0		Yes (X)
R NELSON
DIRECTOR	1.00		$12,000	$0	$0		Yes (X)
MICHAEL TIKOIAN
DIRECTOR	1.00		$5,700	$0	$0		Yes (X)
ANDREW BROWN
CFO/SR. VP	40.00	Yes (X)	$0	$0	$0

Field	Value	IRS element (for citing)
Total Reportable Comp From Org	$1,415,760	TotalReportableCompFromOrgAmt
Total Other Compensation	$111,644	TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K	5	IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed	false	FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K	Yes (true)	TotalCompGreaterThan150KInd
Compensation From Other Srcs	false	CompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp (5 entries)

Address Line1ContractorAddress/USAddress/AddressLine1Txt	CityContractorAddress/USAddress/CityNm	State AbbreviationContractorAddress/USAddress/StateAbbreviationCd	ZIPContractorAddress/USAddress/ZIPCd	ServicesServicesDesc	CompensationCompensationAmt	Address Line2ContractorAddress/USAddress/AddressLine2Txt
NES GROUP INC
905 S MAIN ST BLDG B STE 201	MANSFIELD	MA	02048	BUILDING PLANS	$2,137,429
FISERV
PO BOX 99924	GRAPEVINE	TX	76099	SOFTWARE	$1,802,853
BLUE CROSS
PO BOX 1057	PROVIDENCE	RI	02901	HEALTH INSURANC	$776,290	444 WESTMINSTER ST
CYBERSTATE
63 BLEACHERY CT	WARWICK	RI	02886	IT SERVICES	$577,356
SWBC
9311 SAN PEDRO AVENUE SUITE 100	SAN ANTONIO	TX	78216	MORTGAGE SVC	$306,118

Field	Value	IRS element (for citing)
Cntrct Rcvd Greater Than100 K	5	CntrctRcvdGreaterThan100KCnt

Program Service Revenue ProgramServiceRevenueGrp (5 entries)

DescDesc	Total Revenue ColumnTotalRevenueColumnAmt	Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt	BusinessBusinessCd	Unrelated Business RevenueUnrelatedBusinessRevenueAmt
INTEREST ON LOANS	$23,301,803	$23,301,803
MEMBER SERVICE FEES	$3,886,523	$3,886,523
GAIN ON SALE OF LOANS	$1,336,386	$1,336,386
GAIN ON FIXED ASSETS	$65,508	$65,508
NONMEMBER ATM FEES	$46,883		522100	$46,883

Field	Value	IRS element (for citing)
Total Program Service Revenue	$28,637,103	TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$1,419,232	TotalRevenueColumnAmt
Related Or Exempt Func Income	$1,419,232	RelatedOrExemptFuncIncomeAmt

Total Revenue TotalRevenueGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$30,056,335	TotalRevenueColumnAmt
Related Or Exempt Func Income	$30,009,452	RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue	$46,883	UnrelatedBusinessRevenueAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

Field	Value	IRS element (for citing)
Total	$6,385,341	TotalAmt

Advertising AdvertisingGrp

Field	Value	IRS element (for citing)
Total	$94,069	TotalAmt

Occupancy OccupancyGrp

Field	Value	IRS element (for citing)
Total	$696,242	TotalAmt

Interest InterestGrp

Field	Value	IRS element (for citing)
Total	$10,016,439	TotalAmt

Depreciation Depletion DepreciationDepletionGrp

Field	Value	IRS element (for citing)
Total	$544,550	TotalAmt

Other Expenses OtherExpensesGrp (3 entries)

DescDesc	TotalTotalAmt
OPERATIONS EXPENSE	$3,559,406
DATA PROCESSING EXPENSE	$2,832,994
PROVISION FOR LOAN LOSSES	$1,701,273

Total Functional Expenses TotalFunctionalExpensesGrp

Field	Value	IRS element (for citing)
Total	$25,830,314	TotalAmt
Program Services	$0	ProgramServicesAmt
Management And General	$0	ManagementAndGeneralAmt
Fundraising	$0	FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

Field	Value	IRS element (for citing)
BOY	$4,103,137	BOYAmt
EOY	$9,499,896	EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

Field	Value	IRS element (for citing)
BOY	$4,000,000	BOYAmt
EOY	$22,538,179	EOYAmt

Accounts Receivable AccountsReceivableGrp

Field	Value	IRS element (for citing)
BOY	$488,058,888	BOYAmt
EOY	$536,058,292	EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

Field	Value	IRS element (for citing)
BOY	$1,072,666	BOYAmt
EOY	$2,091,062	EOYAmt

Field	Value	IRS element (for citing)
Land Bldg Equip Cost Or Other Bss	$21,849,699	LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec	$7,266,071	LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

Field	Value	IRS element (for citing)
BOY	$12,163,028	BOYAmt
EOY	$14,583,628	EOYAmt

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

Field	Value	IRS element (for citing)
BOY	$36,437,826	BOYAmt
EOY	$22,503,520	EOYAmt

Other Assets Total OtherAssetsTotalGrp

Field	Value	IRS element (for citing)
BOY	$34,374,949	BOYAmt
EOY	$41,750,306	EOYAmt

Total Assets TotalAssetsGrp

Field	Value	IRS element (for citing)
BOY	$580,210,494	BOYAmt
EOY	$649,024,883	EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

Field	Value	IRS element (for citing)
BOY	$2,730,879	BOYAmt
EOY	$3,660,851	EOYAmt

Escrow Account Liability EscrowAccountLiabilityGrp

Field	Value	IRS element (for citing)
BOY	$774,064	BOYAmt
EOY	$889,013	EOYAmt

Other Liabilities OtherLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$527,186,232	BOYAmt
EOY	$590,729,679	EOYAmt

Total Liabilities TotalLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$530,691,175	BOYAmt
EOY	$595,279,543	EOYAmt

Field	Value	IRS element (for citing)
Org Does Not Follow FASB117	Yes (X)	OrgDoesNotFollowFASB117Ind

Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp

Field	Value	IRS element (for citing)
BOY	$49,519,319	BOYAmt
EOY	$53,745,340	EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$49,519,319	BOYAmt
EOY	$53,745,340	EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$580,210,494	BOYAmt
EOY	$649,024,883	EOYAmt

Field	Value	IRS element (for citing)
Reconcilation Revenue Expnss	$4,226,021	ReconcilationRevenueExpnssAmt
Method Of Accounting Accrual	Yes (X)	MethodOfAccountingAccrualInd
Accountant Compile Or Review	false	AccountantCompileOrReviewInd
FS Audited	Yes (true)	FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

Field	Value	IRS element (for citing)
Separate Basis Fincl Stmt	Yes (X)	SeparateBasisFinclStmtInd

Field	Value	IRS element (for citing)
Audit Committee	Yes (true)	AuditCommitteeInd
Federal Grant Audit Required	false	FederalGrantAuditRequiredInd

Schedule D IRS990ScheduleD

Field	Value	IRS element (for citing)
Agent Trustee Etc	false	AgentTrusteeEtcInd
Incl Escrow Custodial Acct Liab	false	InclEscrowCustodialAcctLiabInd

Land LandGrp

Field	Value	IRS element (for citing)
Investment Cost Or Other Basis	$316,913	InvestmentCostOrOtherBasisAmt
Book Value	$316,913	BookValueAmt

Buildings BuildingsGrp

Field	Value	IRS element (for citing)
Investment Cost Or Other Basis	$15,783,222	InvestmentCostOrOtherBasisAmt
Depreciation	$3,107,726	DepreciationAmt
Book Value	$12,675,496	BookValueAmt

Equipment EquipmentGrp

Field	Value	IRS element (for citing)
Investment Cost Or Other Basis	$4,017,126	InvestmentCostOrOtherBasisAmt
Depreciation	$3,252,711	DepreciationAmt
Book Value	$764,415	BookValueAmt

Other Land Buildings OtherLandBuildingsGrp

Field	Value	IRS element (for citing)
Investment Cost Or Other Basis	$1,732,438	InvestmentCostOrOtherBasisAmt
Depreciation	$905,634	DepreciationAmt
Book Value	$826,804	BookValueAmt

Field	Value	IRS element (for citing)
Total Book Value Land Buildings	$14,583,628	TotalBookValueLandBuildingsAmt

Other Assets Org OtherAssetsOrgGrp (3 entries)

DescDesc	Book ValueBookValueAmt
OTHER ASSETS	$36,599,797
NCUA DEPOSIT	$5,121,464
ASSETS HELD FOR SALE	$29,045

Field	Value	IRS element (for citing)
Total Book Value Other Assets	$41,750,306	TotalBookValueOtherAssetsAmt

Other Liabilities Org OtherLiabilitiesOrgGrp (3 entries)

DescDesc	AmtAmt
MEMBERS' SAVINGS ACCOUNTS	$470,752,266
MEMBERS' SHARE ACCOUNTS	$111,612,713
ADVANCES - FHLB	$8,364,700

Field	Value	IRS element (for citing)
Total Liability	$590,729,679	TotalLiabilityAmt
Total Rev Etc Audited Fincl Stmt	$30,056,335	TotalRevEtcAuditedFinclStmtAmt
Revenue Subtotal	$30,056,335	RevenueSubtotalAmt
Total Revenue Per Form990	$30,056,335	TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt	$25,830,314	TotExpnsEtcAuditedFinclStmtAmt
Expenses Subtotal	$25,830,314	ExpensesSubtotalAmt
Total Expenses Per Form990	$25,830,314	TotalExpensesPerForm990Amt

Schedule J IRS990ScheduleJ

Field	Value	IRS element (for citing)
Travel For Companions	Yes (X)	TravelForCompanionsInd
Written Policy Ref T And E Expnss	Yes (true)	WrittenPolicyRefTAndEExpnssInd
Substantiation Required	Yes (true)	SubstantiationRequiredInd
Board Or Committee Approval	Yes (X)	BoardOrCommitteeApprovalInd
Severance Payment	false	SeverancePaymentInd
Supplemental Nonqual Rtr Plan	false	SupplementalNonqualRtrPlanInd
Equity Based Comp Arrngm	false	EquityBasedCompArrngmInd

Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (5 entries)

TitleTitleTxt	Base Compensation Filing OrgBaseCompensationFilingOrgAmt	Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt	Total Compensation Filing OrgTotalCompensationFilingOrgAmt	Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt	Other Compensation Filing OrgOtherCompensationFilingOrgAmt
FREDERICK REINHARDT
CEO	$344,700	$31,380	$376,080
SHANNON MELCHIONE
MTG LOAN OFFICER	$314,546	$12,249	$326,795
JOSEPH LAJOIE
CFO/SR VP	$228,141	$12,573	$245,514	$4,800
HOLLY FERRARA
VP RETAIL LENDING	$196,094	$26,580	$222,674
MARIANNE VARATTA
SENIOR VP/DIRECTOR	$160,079	$24,062	$197,941		$13,800

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	SCHEDULE J, PART III	FormAndLineReferenceDesc
Explanation	A BUDGET FOR COMPANION TRAVEL TO CONFERENCES AND SEMINARS IS APPROVED BY THE MEMBERS EACH YEAR AT THE ANNUAL MEETING.	ExplanationTxt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (8 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
FORM 990, PAGE 6, PART VI, LINE 6	THE CREDIT UNION IS OWNED BY ITS MEMEBER DEPOSITORS.
FORM 990, PAGE 6, PART VI, LINE 7A	THE BOARD MEMBERS ARE ELECTED DURING ANNUAL MEETINGS FOR THE TERM OF 3 YEARS. VACANCY OCCURING BETWEN ANNUAL MEETINGS IS FILLED BY THE VOTE OF THE MAJORITY OF THE DIRECTORS. DIRECTORS SO APPOINTED HOLD OFFICE UNTIL NEXT ANNUAL MEETING. THE BOARD ELECTS A CHAIRPERSON, A PRESIDENT AND A VICE- PRESIDENT.
FORM 990, PAGE 6, PART VI, LINE 7B	MEMBERS VOTE FOR BOARD OF DIRECTORS AND ON CERTAIN MATTERS PRESENTED AT THE ANNUAL MEETING OF THE CREDIT UNION
FORM 990, PAGE 6, PART VI, LINE 11B	FORM 990 IS PROVIDED TO MANAGEMENT FOR APPROVAL PRIOR TO SUBMISSION. THE BOARD OF DIRECTORS MAY REVIEW THE FORM 990 AT THE MEETING SUBSEQUENT TO THE FILING DATE.
FORM 990, PAGE 6, PART VI, LINE 12C	THE SUPERVISORY COMMITTEE MONITORS THE BOARD OF DIRECTORS TO ASSURE COMPLIANCE WITH CREDIT UNION POLICY AND ADHERENCE TO RHODE ISLAND GENERAL LAW GOVERNING CREDIT UNION OPERATIONS.
FORM 990, PAGE 6, PART VI, LINE 15A	THE BOARD APPROVES ANNUALLY THE COMPENSATION AWARDED TO THE CEO OF THE CREDIT UNION.
FORM 990, PAGE 6, PART VI, LINE 15B	THE BOARD APPROVES ANNUALLY THE COMPENSATION AWARDED TO THE CEO OF THE CREDIT UNION. OFFICERS AND KEY EMPLOYEE COMPENSATION IS DRIVEN BY THE BUDGET WITH THE CEO'S INPUT.
FORM 990, PAGE 6, PART VI, LINE 19	THE CREDIT UNION'S FINANCIAL RESULTS ARE POSTED AT THE BRANCH ON A MONTHLY BASIS. POLICIES ARE AVAILABLE TO MEMBERS UPON REQUEST.