GREENWOOD CREDIT UNION INC: Form 990, tax year 2024

View the entire original 990 at ProPublica ↗

Organization: GREENWOOD CREDIT UNION INC (EIN 05-0254228)
Tax period: 2024-01-01 to 2024-12-31
Filed: 2025-11-03
IRS object ID: 202513079349302741
Schema version: 2024v5.0
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	2025-11-03T15:48:57-05:00	ReturnTs
Tax Period End	2024-12-31	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	MYSTIC ACCOUNTING GROUP 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	06355	ZIPCd

Field	Value	IRS element (for citing)
Return Type	990	ReturnTypeCd
Tax Period Begin	2024-01-01	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	2700 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	PersonTitleTxt
Phone	4015622700	PhoneNum
Signature	2025-11-03	SignatureDt
Discuss With Paid Preparer	Yes (true)	DiscussWithPaidPreparerInd

Field	Value	IRS element (for citing)
IRS Responsible Prty Info Curr	Yes (true)	IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	THEODOROS POULOPOULOS	PreparerPersonNm
PTIN	P02260731	PTIN
Phone	8605361040	PhoneNum
Preparation	2025-11-03	PreparationDt

Field	Value	IRS element (for citing)
Tax	2024	TaxYr
Build TS	2025-03-06 01:10:19Z	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	2700 POST ROAD	AddressLine1Txt
City	WARWICK	CityNm
State Abbreviation	RI	StateAbbreviationCd
ZIP	02886	ZIPCd

Field	Value	IRS element (for citing)
Gross Receipts	$53,648,132	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	9	VotingMembersGoverningBodyCnt
Voting Members Independent	8	VotingMembersIndependentCnt
Total Employee	93	TotalEmployeeCnt
Total Gross UBI	$11,970	TotalGrossUBIAmt
CY Contributions Grants	$0	CYContributionsGrantsAmt
PY Program Service Revenue	$41,858,409	PYProgramServiceRevenueAmt
CY Program Service Revenue	$51,196,177	CYProgramServiceRevenueAmt
PY Investment Income	$1,746,450	PYInvestmentIncomeAmt
CY Investment Income	$2,451,955	CYInvestmentIncomeAmt
CY Other Revenue	$0	CYOtherRevenueAmt
PY Total Revenue	$43,604,859	PYTotalRevenueAmt
CY Total Revenue	$53,648,132	CYTotalRevenueAmt
CY Grants And Similar Paid	$0	CYGrantsAndSimilarPaidAmt
CY Benefits Paid To Members	$0	CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid	$8,379,632	PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid	$9,204,399	CYSalariesCompEmpBnftPaidAmt
CY Total Prof Fndrsng Expns	$0	CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense	$0	CYTotalFundraisingExpenseAmt
PY Other Expenses	$31,185,950	PYOtherExpensesAmt
CY Other Expenses	$39,510,728	CYOtherExpensesAmt
PY Total Expenses	$39,565,582	PYTotalExpensesAmt
CY Total Expenses	$48,715,127	CYTotalExpensesAmt
PY Revenues Less Expenses	$4,039,277	PYRevenuesLessExpensesAmt
CY Revenues Less Expenses	$4,933,005	CYRevenuesLessExpensesAmt
Total Assets BOY	$868,582,162	TotalAssetsBOYAmt
Total Assets EOY	$865,510,015	TotalAssetsEOYAmt
Total Liabilities BOY	$794,240,866	TotalLiabilitiesBOYAmt
Total Liabilities EOY	$786,235,714	TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY	$74,341,296	NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY	$79,274,301	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, 2024, THE CREDIT UNION HAD 85,875 SHARE/DEPOSIT ACCOUNTS AND 39,251 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	Yes (true)	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	23489	IRPDocumentCnt
IRP Document W2 G	0	IRPDocumentW2GCnt
Backup Wthld Compliance	Yes (true)	BackupWthldComplianceInd
Employee	93	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	9	GoverningBodyVotingMembersCnt
Independent Voting Member	8	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	2700 POST ROAD	AddressLine1Txt
City	WARWICK	CityNm
State Abbreviation	RI	StateAbbreviationCd
ZIP	02886	ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (13 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)	$754,024	$0	$39,018
ANDREW BROWN
CFO	40.00	Yes (X)	$281,614	$0	$11,128
HOLLY FERRARA
SENIOR VP/CL	40.00		$236,348	$0	$35,257	Yes (X)
JENNIFER LAFRANCE
SVP/COO	40.00	Yes (X)	$228,182	$0	$34,682
THERESA BROPHY
SVP, HUMAN R	40.00		$148,095	$0	$29,762	Yes (X)
MARIANNE VARATTA
DIRECTOR	40.00		$32,025	$0	$12,087		Yes (X)
KAREN SD GRANDE ESQ
CHAIRPERSON/	5.00	Yes (X)	$29,000	$0	$0		Yes (X)
SANDRA POWELL
BOARD SECRET	1.00	Yes (X)	$24,200	$0	$0		Yes (X)
PHILIP SLOCUM
VICE CHAIR/D	4.00	Yes (X)	$23,500	$0	$0		Yes (X)
MICHAEL TIKOIAN
BOARD TREASU	1.00	Yes (X)	$18,200	$0	$0		Yes (X)
BRIAN MCGUIRK
DIRECTOR	1.00		$16,400	$0	$0		Yes (X)
CARRIE BRIDGES FELIZ
DIRECTOR	1.00		$13,900	$0	$0		Yes (X)
ROSS NELSON
DIRECTOR	1.00		$12,300	$0	$0		Yes (X)

Field	Value	IRS element (for citing)
Total Reportable Comp From Org	$1,817,788	TotalReportableCompFromOrgAmt
Total Other Compensation	$161,934	TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K	6	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
FISERV
PO BOX 934057	ATLANTA	GA	31193	SOFTWARE	$2,051,398
BLUE CROSS
PO BOX 1057	PROVIDENCE	RI	02901	HEALTH INSURANC	$1,135,582	444 WESTMINSTER ST
AERO MECHANICAL INC
10 LEAH STREET	JOHNSTON	RI	02919	GEN CONTRACTOR	$256,724
CITY OF WARWICK
PO BOX 981027	BOSTON	MA	02298	RE TAXES	$236,453
CYBERSTATE RESOURCES INC
63 BLEACHERY CT	WARWICK	RI	02886	IT SERVICES	$204,868

Field	Value	IRS element (for citing)
Cntrct Rcvd Greater Than100 K	12	CntrctRcvdGreaterThan100KCnt

Program Service Revenue ProgramServiceRevenueGrp (5 entries)

DescDesc	Total Revenue ColumnTotalRevenueColumnAmt	Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt	BusinessBusinessCd	Unrelated Business RevenueUnrelatedBusinessRevenueAmt
INTEREST ON LOANS	$46,997,757	$46,997,757
MEMBER SERVICE FEES	$3,797,953	$3,797,953
GAIN ON SALE OF LOANS	$320,444	$320,444
GAIN ON REO SALES	$68,053	$68,053
NONMEMBER ATM FEES	$11,970		522100	$11,970

Field	Value	IRS element (for citing)
Total Program Service Revenue	$51,196,177	TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$2,451,955	TotalRevenueColumnAmt
Exclusion	$2,451,955	ExclusionAmt

Total Revenue TotalRevenueGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$53,648,132	TotalRevenueColumnAmt
Related Or Exempt Func Income	$51,184,207	RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue	$11,970	UnrelatedBusinessRevenueAmt
Exclusion	$2,451,955	ExclusionAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

Field	Value	IRS element (for citing)
Total	$1,694,644	TotalAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

Field	Value	IRS element (for citing)
Total	$5,650,126	TotalAmt

Pension Plan Contributions PensionPlanContributionsGrp

Field	Value	IRS element (for citing)
Total	$341,819	TotalAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

Field	Value	IRS element (for citing)
Total	$997,996	TotalAmt

Payroll Taxes PayrollTaxesGrp

Field	Value	IRS element (for citing)
Total	$519,814	TotalAmt

Advertising AdvertisingGrp

Field	Value	IRS element (for citing)
Total	$145,606	TotalAmt

Occupancy OccupancyGrp

Field	Value	IRS element (for citing)
Total	$1,063,248	TotalAmt

Interest InterestGrp

Field	Value	IRS element (for citing)
Total	$27,555,881	TotalAmt

Depreciation Depletion DepreciationDepletionGrp

Field	Value	IRS element (for citing)
Total	$664,391	TotalAmt

Other Expenses OtherExpensesGrp (3 entries)

DescDesc	TotalTotalAmt
OPERATIONS EXPENSE	$3,881,021
DATA PROCESSING EXPENSE	$3,691,062
CREDIT LOSSES PROVISION	$2,509,519

Total Functional Expenses TotalFunctionalExpensesGrp

Field	Value	IRS element (for citing)
Total	$48,715,127	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	$7,184,205	BOYAmt
EOY	$4,241,062	EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

Field	Value	IRS element (for citing)
BOY	$13,783,000	BOYAmt
EOY	$22,450,000	EOYAmt

Accounts Receivable AccountsReceivableGrp

Field	Value	IRS element (for citing)
BOY	$755,387,408	BOYAmt
EOY	$757,962,481	EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

Field	Value	IRS element (for citing)
BOY	$3,389,744	BOYAmt
EOY	$3,431,629	EOYAmt

Field	Value	IRS element (for citing)
Land Bldg Equip Cost Or Other Bss	$23,834,732	LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec	$9,971,762	LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

Field	Value	IRS element (for citing)
BOY	$13,970,414	BOYAmt
EOY	$13,862,970	EOYAmt

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

Field	Value	IRS element (for citing)
BOY	$7,499,792	BOYAmt

Investments Other Securities InvestmentsOtherSecuritiesGrp

Field	Value	IRS element (for citing)
BOY	$14,072,636	BOYAmt
EOY	$12,978,936	EOYAmt

Other Assets Total OtherAssetsTotalGrp

Field	Value	IRS element (for citing)
BOY	$53,294,963	BOYAmt
EOY	$50,582,937	EOYAmt

Total Assets TotalAssetsGrp

Field	Value	IRS element (for citing)
BOY	$868,582,162	BOYAmt
EOY	$865,510,015	EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

Field	Value	IRS element (for citing)
BOY	$3,683,752	BOYAmt
EOY	$4,034,937	EOYAmt

Escrow Account Liability EscrowAccountLiabilityGrp

Field	Value	IRS element (for citing)
BOY	$1,557,879	BOYAmt
EOY	$1,361,869	EOYAmt

Other Liabilities OtherLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$788,999,235	BOYAmt
EOY	$780,838,908	EOYAmt

Total Liabilities TotalLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$794,240,866	BOYAmt
EOY	$786,235,714	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	$74,341,296	BOYAmt
EOY	$79,274,301	EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$74,341,296	BOYAmt
EOY	$79,274,301	EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$868,582,162	BOYAmt
EOY	$865,510,015	EOYAmt

Field	Value	IRS element (for citing)
Reconcilation Revenue Expnss	$4,933,005	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	Yes (true)	InclEscrowCustodialAcctLiabInd
Explanation Provided	Yes (X)	ExplanationProvidedInd

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	$17,016,496	InvestmentCostOrOtherBasisAmt
Depreciation	$4,408,339	DepreciationAmt
Book Value	$12,608,157	BookValueAmt

Equipment EquipmentGrp

Field	Value	IRS element (for citing)
Investment Cost Or Other Basis	$4,753,034	InvestmentCostOrOtherBasisAmt
Depreciation	$4,176,022	DepreciationAmt
Book Value	$577,012	BookValueAmt

Other Land Buildings OtherLandBuildingsGrp

Field	Value	IRS element (for citing)
Investment Cost Or Other Basis	$1,748,289	InvestmentCostOrOtherBasisAmt
Depreciation	$1,387,401	DepreciationAmt
Book Value	$360,888	BookValueAmt

Field	Value	IRS element (for citing)
Total Book Value Land Buildings	$13,862,970	TotalBookValueLandBuildingsAmt

Other Assets Org OtherAssetsOrgGrp (3 entries)

DescDesc	Book ValueBookValueAmt
OTHER ASSETS	$43,549,081
NCUA DEPOSIT	$7,016,184
ASSETS HELD FOR SALE	$17,672

Field	Value	IRS element (for citing)
Total Book Value Other Assets	$50,582,937	TotalBookValueOtherAssetsAmt

Other Liabilities Org OtherLiabilitiesOrgGrp (3 entries)

DescDesc	AmtAmt
MEMBERS' SAVINGS ACCOUNTS	$678,557,240
MEMBERS' SHARE ACCOUNTS	$94,950,292
ADVANCES - FHLB	$7,331,376

Field	Value	IRS element (for citing)
Total Liability	$780,838,908	TotalLiabilityAmt
Footnote Text	Yes (X)	FootnoteTextInd
Total Rev Etc Audited Fincl Stmt	$53,648,132	TotalRevEtcAuditedFinclStmtAmt
Revenue Subtotal	$53,648,132	RevenueSubtotalAmt
Total Revenue Per Form990	$53,648,132	TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt	$48,715,127	TotExpnsEtcAuditedFinclStmtAmt
Expenses Subtotal	$48,715,127	ExpensesSubtotalAmt
Total Expenses Per Form990	$48,715,127	TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDesc

ExplanationExplanationTxt

SCHEDULE D, PAGE 2, PART IV, LINE 2B

MORTGAGE ESCROW ACCOUNTS HELD FOR THE PAYMENTS OF REAL ESTATE TAXES FOR MUNICIPALITIES.

SCHEDULE D, PAGE 3, PART X

THE ORGANIZATION HAS ADOPTED THE PROVISIONS OF FASB, ACCOUNTING STANDARDS CODIFICATION 740, INCOME TAXES (740). ASC 740 REQUIRES THAT A TAX POSITION BE RECOGNIZED OR DERECOGNIZED BASED ON A "MORE-LIKELY-THAN-NOT" THRESHOLD. THIS APPLIES TO POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE ORGANIZATION DOES NOT BELIEVE ITS FINANCIAL STATMENTS INCLUDE, OR REFLECT, ANY UNCERTAIN TAX POSITION. TAX YEARS FROM DECEMBER 31, 2020 THROUGH THE CURRENT YEAR REMAIN OPEN FOR EXAMINATION BY THE FEDERAL AND STATE TAX AUTHORITIES.

Schedule J IRS990ScheduleJ

Field	Value	IRS element (for citing)
Severance Payment	false	SeverancePaymentInd
Supplemental Nonqual Rtr Plan	Yes (true)	SupplementalNonqualRtrPlanInd
Equity Based Comp Arrngm	false	EquityBasedCompArrngmInd

Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (5 entries)

TitleTitleTxt	Base Compensation Filing OrgBaseCompensationFilingOrgAmt	Bonus Filing OrganizationBonusFilingOrganizationAmount	Other Compensation Filing OrgOtherCompensationFilingOrgAmt	Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt	Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt	Total Compensation Filing OrgTotalCompensationFilingOrgAmt
FREDERICK REINHARDT
CEO	$350,224	$75,800	$328,000	$17,250	$21,768	$793,042
ANDREW BROWN
CFO	$201,614	$20,000	$60,000	$11,128		$292,742
HOLLY FERRARA
SENIOR VP/CLO	$199,148	$37,200		$12,350	$22,907	$271,605
JENNIFER LAFRANCE
SVP/COO	$201,182	$27,000		$11,908	$22,774	$262,864
THERESA BROPHY
SVP, HUMAN RESOURCES	$129,095	$19,000		$7,948	$21,814	$177,857

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
SCHEDULE J, PAGE 1, PART I, LINE 4	FREDERICK REINHARDT 0 328,000 0 ANDREW BROWN 0 60,000 0
SCHEDULE J, PART III	A BUDGET FOR COMPANION TRAVEL TO CONFERENCES AND SEMINARS IS APPROVED BY THE MEMBERS EACH YEAR AT THE ANNUAL MEETING.

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.