2025-11-03T15:48:57-05:00 2024-12-31 472604526 MYSTIC ACCOUNTING GROUP LLP PO BOX 397 MYSTIC CT 06355 990 2024-01-01 050254228 GREENWOOD CREDIT UNION INC GREE 4017394600 2700 POST ROAD WARWICK RI 02886 ANDREW BROWN CFO 4015622700 2025-11-03 true true THEODOROS POULOPOULOS P02260731 8605361040 2025-11-03 2024 2025-03-06 01:10:19Z FREDERICK REINHARDT 2700 POST ROAD WARWICK RI 02886 53648132 false X WWW.GREENWOODCU.ORG X 1948 RI 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. 9 8 93 11970 0 41858409 51196177 1746450 2451955 0 43604859 53648132 0 0 8379632 9204399 0 0 31185950 39510728 39565582 48715127 4039277 4933005 868582162 865510015 794240866 786235714 74341296 79274301 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. false false 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. false false false false false false false true false true false false true true true true false false false false false false false false false false false false true false false false false false false false false false false false false false false true 23489 0 true 93 true true true false false false false false false false X 9 8 false false false false true true true true true false true true false true true true false true true true false X X ANDREW BROWN 4017394600 2700 POST ROAD WARWICK RI 02886 FREDERICK REINHARDT CEO 40.00 X 754024 0 39018 ANDREW BROWN CFO 40.00 X 281614 0 11128 HOLLY FERRARA SENIOR VP/CL 40.00 X 236348 0 35257 JENNIFER LAFRANCE SVP/COO 40.00 X 228182 0 34682 THERESA BROPHY SVP, HUMAN R 40.00 X 148095 0 29762 MARIANNE VARATTA DIRECTOR 40.00 X 32025 0 12087 KAREN SD GRANDE ESQ CHAIRPERSON/ 5.00 X X 29000 0 0 SANDRA POWELL BOARD SECRET 1.00 X X 24200 0 0 PHILIP SLOCUM VICE CHAIR/D 4.00 X X 23500 0 0 MICHAEL TIKOIAN BOARD TREASU 1.00 X X 18200 0 0 BRIAN MCGUIRK DIRECTOR 1.00 X 16400 0 0 CARRIE BRIDGES FELIZ DIRECTOR 1.00 X 13900 0 0 ROSS NELSON DIRECTOR 1.00 X 12300 0 0 1817788 161934 6 false true false FISERV PO BOX 934057 ATLANTA GA 31193 SOFTWARE 2051398 BLUE CROSS PO BOX 1057 444 WESTMINSTER ST PROVIDENCE RI 02901 HEALTH INSURANC 1135582 AERO MECHANICAL INC 10 LEAH STREET JOHNSTON RI 02919 GEN CONTRACTOR 256724 CITY OF WARWICK PO BOX 981027 BOSTON MA 02298 RE TAXES 236453 CYBERSTATE RESOURCES INC 63 BLEACHERY CT WARWICK RI 02886 IT SERVICES 204868 12 INTEREST ON LOANS 46997757 46997757 MEMBER SERVICE FEES 3797953 3797953 GAIN ON SALE OF LOANS 320444 320444 GAIN ON REO SALES 68053 68053 NONMEMBER ATM FEES 522100 11970 11970 51196177 2451955 2451955 53648132 51184207 11970 2451955 1694644 5650126 341819 997996 519814 145606 1063248 27555881 664391 OPERATIONS EXPENSE 3881021 DATA PROCESSING EXPENSE 3691062 CREDIT LOSSES PROVISION 2509519 48715127 0 0 0 7184205 4241062 13783000 22450000 755387408 757962481 3389744 3431629 23834732 9971762 13970414 13862970 7499792 14072636 12978936 53294963 50582937 868582162 865510015 3683752 4034937 1557879 1361869 788999235 780838908 794240866 786235714 X 74341296 79274301 74341296 79274301 868582162 865510015 4933005 X false true X true false false true X 316913 316913 17016496 4408339 12608157 4753034 4176022 577012 1748289 1387401 360888 13862970 OTHER ASSETS 43549081 NCUA DEPOSIT 7016184 ASSETS HELD FOR SALE 17672 50582937 MEMBERS' SAVINGS ACCOUNTS 678557240 MEMBERS' SHARE ACCOUNTS 94950292 ADVANCES - FHLB 7331376 780838908 X 53648132 53648132 53648132 48715127 48715127 48715127 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. false true false FREDERICK REINHARDT CEO 350224 75800 328000 17250 21768 793042 ANDREW BROWN CFO 201614 20000 60000 11128 292742 HOLLY FERRARA SENIOR VP/CLO 199148 37200 12350 22907 271605 JENNIFER LAFRANCE SVP/COO 201182 27000 11908 22774 262864 THERESA BROPHY SVP, HUMAN RESOURCES 129095 19000 7948 21814 177857 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. 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.