2014-02-25T03:25:21-00:00 2013-12-31 Root & Associates 1929 Horton Street North Dighton MA 02764 990 2013-01-01 050263842 Coventry Credit Union COVE 4013971900 2006 Nooseneck Hill Road Coventry RI 02816 David Root CEO President 2014-02-25 true David Root 5086696476 2014-02-25 X 2013 2015-11-30 17:44:51Z David Root 2006 Nooseneck Hill Road Coventry RI 02816 11571077 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 85 57707 -6153 0 12047330 11032755 586467 538322 0 12633797 11571077 0 0 3603022 3780337 0 0 7887568 6917923 11490590 10698260 1143207 872817 220585821 229968547 200889024 209759603 19696797 20208944 To provide low cost financial services to member depositors. false false 10698260 11571077 Interest and fees on loans and investments allow the Credit Union to provide low cost financial services to its members. 10698260 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 true 10855 0 true 85 true true true 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 9750 0 0 Michael D Airhart Vice Chairman 002.00 X 9750 0 0 Thomas F Lacolle Treasurer 002.00 X 4500 0 0 Bruce B Hecker Secretary 002.00 X 9750 0 0 Leo R Blais Director 002.00 X 7700 0 0 Robert H McGuire Director 002.00 X 9100 0 0 Paul E Scaling Director 002.00 X 9100 0 0 Richard Audet Director 002.00 X 9100 0 0 William A Sheldon Director 002.00 X 9750 0 0 Richard P Sullivan Director 002.00 X 9100 0 0 Therese S Stafford Director 002.00 X 9100 0 0 James Rowe Director 002.00 X 9350 0 0 Gerard R Cayer Director 002.00 X 1400 0 0 David L Root President/CEO 040.00 X 325000 0 0 Denise Warburton VP Mortgage Lending 040.00 X 138643 0 0 Ginnie Sosnicki COO 040.00 X 108660 0 0 679753 1 false false false D3 Logic Inc 2220 Plainfield Pike Cranston RI 02921 Statement preparation and mailing 232572 National Grid 300 Erie Blvd Syracuse NY 13202 Utilities 89653 Verizon PO Box 1100 Albany NY 12250 Telephone 226729 Open Solutions Inc 455 Winding Brook Road Glastonbury CT 02854 Software and Support 251133 Mutual Properties Inc 1 James Murphy Highway West Warwick RI 02826 Rent 158760 5 Interest and fees on loans 522291 7328741 7328741 Other fees and charges 900099 2622653 2622653 Sale of consumer mortgages 522291 961964 961964 Gain on sale of assets 522291 61690 61690 Rental income and insurance premiums 531120 57707 57707 11032755 538322 538322 11571077 11513370 57707 0 0 0 0 679753 679753 0 2144028 2144028 96000 96000 394170 394170 466386 466386 686888 686888 21534 21534 57000 57000 0 0 0 240213 240213 110195 110195 568161 568161 0 666015 666015 66388 66388 0 52001 52001 1822128 1822128 0 638348 638348 75059 75059 Allowance for Loan Losses 132990 132990 Equipment Maint and Leasing 810051 810051 Collection and OREO expenses 439689 439689 Deposit Taxes 90000 90000 441263 441263 10698260 10698260 4698767 10069704 61464820 34567086 143475776 174659433 1349964 509581 10527549 5457177 5373695 5070372 4222799 5092371 220585821 229968547 903437 217784 19000000 19000000 180985587 190541819 200889024 209759603 X 19696797 20208944 19696797 20208944 220585821 229968547 872817 -360670 X false true X true false false 1242403 1242403 6195894 2887301 3308593 3089252 2569876 519376 5070372 Financial derivatives and other financial products Closely-held equity interests Federal income taxes Member Deposits 190437819 Accrued Interest Payable 104000 190541819 Form 990, Part VI, Section A, Line 6 The Credit Union is owned by its member depositors. Form 990, Part VI, Section A, Line 7 The members elect the Board of Directors at the Annual Meeting and ratify all actions. Form 990, Part VI, Section A, Line 8 The Board meets on a monthly basis. Minutes of all Board and Committee meetings, as well as 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 management prior to filing and approved by the Board of Directors at its subsequent meeting. Form 990, Part VI, Section B, Line 12a The Supervisory Committee regularly monitors Board activity for possible conflicts of interest and activities prohibited by Rhods Island and Federal Laws governing Credit Unions. Form 990, Part VI, Section B, Line 15 The CEOs salary is approved by the Board via written contractual agreement. Board and Committee compensation is approved annually by the members at the Annual Meeting. Form 990, Part VI, Section C, Line 19 Financial results are posted monthly at each branch office. Members may request copies of Credit Union Policies at any time.