2017-04-25T02:41:16-00:00 2016-12-31 Root & Associates 1929 Horton Street North Dighton MA 02764 990 2016-01-01 050263842 Coventry Credit Union COVE 4013971900 2006 Nooseneck Hill Road Coventry RI 02816 David Root CEO CEO 4013922310 2017-04-25 true David Root 5086696476 2017-04-25 X 72.92.227.75 2017-04-25 18:31:45 ED P 54F2BEC34DDCFECC685A8EB6A3F037B38E3D225C 54F2BEC34DDCFECC685A8EB6A3F037B38E3D225C 2016 2021-01-29 14:40:06Z David Root 2006 Nooseneck Hill Road Coventry RI 02816 11832863 false X Coventrycu.org X Credit Union 1950 RI The Credit Union is a co-operative owned by its member depositors. Income relaized from investment and loan activities enable the Credit Union to provide low cost financial services to its members. 12 12 64 0 0 11253389 11275859 484245 557004 0 11737634 11832863 0 0 3795641 3375911 0 0 6892598 7332650 10688239 10708561 1049395 1124302 246777584 257756254 224907950 234688926 21869634 23067328 To provide low cost financial services to member depositors. false false 10708561 11832863 Interest and fees on loans and investments allow the Credit Union to provide low cost financial services to its members. 10708561 false false false false false false false false false true false false false true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true 6779 0 true 64 true true true false false false false false false false false false false false false false false X 12 12 false false false false true true true true true false true true true true true true false true true true false X David Root 4013922310 2006 Nooseneck Hill Road Coventry RI 02816 Roger JLaliberte Chairman 002.00 X 9000 0 0 Michael D Airhart Vice Chairman 002.00 X 8250 0 0 Bruce B Hecker Secretary 002.00 X 9000 0 0 Leo R Blais Director 002.00 X 8400 0 0 Robert H McGuire Director 002.00 X 8400 0 0 Paul E Skaling Director 002.00 X 7700 0 0 Richard Audet Director 002.00 X 8400 0 0 William A Sheldon Director 002.00 X 8400 0 0 Richard P Sullivan Director 002.00 X 8400 0 0 Therese S Stafford Director 002.00 X 8400 0 0 James Rowe Treasurer 002.00 X 8250 0 0 Gerard R Cayer Director 002.00 X X 8400 0 0 David L Root President/CEO 040.00 X X 300000 0 42000 Ginnie Sosnicki COO 040.00 X 118500 0 0 519500 42000 2 false false false D3 Logic Inc 2220 Plainfield Pike Cranston RI 02921 Statement preparation and mailing 226260 Coventry Tax Collector Town Hall Coventry RI 02816 Property Taxes 133363 Mutual Properties 10 State Street Albany NY 12250 Insurance 172166 FiServ 455 Winding Brook Road Glastonbury CT 02854 Software and Support 274781 RI Divisionn of Raxation One Capitol Hill Providence RI 02908 Deposit Tax 118774 5 Interest and fees on loans 522291 7990867 7990867 Other fees and charges 900099 2666561 2666561 Sale of consumer mortgages 522291 575777 575777 Gain on sale of assets 522291 42654 42654 11275859 557004 557004 11832863 11832863 0 0 0 0 519500 519500 0 1428142 1428142 120000 120000 376904 376904 931365 931365 0 49927 49927 100000 100000 0 0 0 220000 220000 516872 516872 561443 561443 0 848121 848121 94695 94695 0 0 2157970 2157970 0 426397 426397 116464 116464 Allowance for Loan Losses 213009 213009 Equipment Maint and Leasing 638398 638398 Collection and OREO expenses 367458 367458 Postage 161474 161474 860422 860422 10708561 10708561 19178302 22436377 22217114 26532330 194007134 198113497 600982 590643 11438370 6887780 4655132 4550590 6118920 5532817 246777584 257756254 205842 506772 19000000 19000000 205702108 215182154 224907950 234688926 X 21869634 23067328 21869634 23067328 246777584 257756254 X 1124302 73392 X false true X true false false 1242403 1242403 6568211 3763600 2931666 3627756 3446035 376521 4550590 Financial derivatives and other financial products Closely-held equity interests Federal income taxes Member Deposits 215182154 Accrued Interest Payable 215182154 Form 990, Part VI, Section A, Line 6-7 The Credit Union is owned by its member depositors. Members elect the Board of Directors at the Annual Meeting and ratify all Board actions at that time. Form 990, Part VI, Section A, Line 8 The Board of Directors meets monthly. Minutes of the meetings of the Board, Supervisory Committee and the Annual Meeting are taken and retained by the Credit Union. Form 990, Part VI, Section B, Line 11 The Form 990 is reviewed by the Board prior to its filing. Form 990, Part VI, Section 12, Line A The Supervisory Committee regularly monitors Board activity for possible conflicts of interest and activities prohibited by Federal and State laws governing credit unions. Form 990, Part VI, Section B, Line 15 The CEOs salary is approved by the Board via a written contractual agreement. Board and Committee members stipends are approved annually by the members at the Annual Meeting. Form 990, Part VI, Section C, Line 19 Financial statements are posted monthly after Board ratification at each branch office. Members may request copies of Credit Union policies at any time. Form 990, Part XI, Line 9 Increase in the fair market value of investments classified as available for sale