2013-05-06T15:15:33-05:00 2012-12-31 010523282 Berry Dunn McNeil & Parker LLC PO Box 1100 Portland ME 041041100 990 2012-01-01 050198580 People's Credit Union PEOP 4018468930 858 West Main Road Middletown RI 02842 Brian Hennessey 4018468930 2013-05-03 1 Barbara J McGuan CPA P00219457 2077752387 2013-05-02 2012 2016-03-07 17:11:31Z Ellen Ford 858 West Main Road Middletown RI 02842 22612805 0 X www.peoplescu.com X Cooperative Financial Institution 1922 RI State chartered credit union 9 9 147 0 197950 166671 0 0 16030452 17224256 1964629 1425559 0 0 17995081 18649815 0 0 0 0 5896696 6082755 0 0 0 11624239 11641920 17520935 17724675 474146 925140 372498774 388053473 333010471 348922170 39488303 39131303 X The priority of People's Credit Union is to offer value added products and services for the benefit of our existing and prospective members. We are committed to providing convenient delivery of our products and services in a friendly, welcoming, and responsive environment. To ensure ongoing confidence and trust, we will continue to promote our financial strength as an organization. 0 0 People's is a member-owned organization committed to providing superior financial services to the community. People's provided 7,230 loans to members. The outstanding loan balance at 12/31/12 was $290,968,335. People's maintains savings accounts for members. Total outstanding savings accounts at 12/31/12 was 22,722 for $218,959,542. People's maintains demand deposit accounts for members. Total outstanding demand deposit accounts at 12/31/12 was 17,725 for $83,232,761. People's offers safe deposit boxes to members. The number of safe deposit boxes rented is 1,278. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 14011 0 1 147 1 1 1 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 0 1 1 0 1 1 0 1 1 1 1 1 1 1 0 RI X Brian Hennessey EVP & CFO 4018468930 858 West Main Road Middletown RI 02842 Joseph E Rosa 1.00 X 6600 0 0 David Faucher 1.00 X X 10600 0 0 John Greichen 1.00 X 6600 0 0 Terri Marcucci Fitch 1.00 X X 8200 0 0 Louann Lawrence 1.00 X X 8600 0 0 Edward T Lopes Jr 1.00 X X 8400 0 0 John J Trifero 1.00 X 6600 0 0 William L Douglas Jr 1.00 X 6200 0 0 Christopher S Ottiano 1.00 X 6000 0 0 Ellen Ford 40.00 X 231161 0 44433 Brian Hennessey 40.00 X 152078 0 38213 Amy Martel 40.00 X 165675 0 30383 Peter Murray 40.00 X 122290 0 40209 Melissa Burton 40.00 X 102156 0 20634 841160 0 173872 5 0 1 0 FIS PO Box 4535 Carol Stream IL 601974535 Data Processing Services 589508 Vantiv Holding 8500 Governors Hill Dr Symnes Township OH 45249 ATM/Debit Card Svcs. 391479 Mass Mutual Financial Group PO Box 92483 Chicago IL 60675 Member Advisors 180000 Next Step 4630 S Kirkman Road 612 Orlando FL 32811 Consulting 154654 BCPI PO Box 231 Walpole MA 02081 E-Mail Archiving Service 146332 9 Loan Interest 522100 13703908 13703908 Fee & Service Income 522100 3520348 3322398 197950 17224256 1214722 1214722 3595779 578048 3411750 551240 184029 26808 210837 210837 18649815 17026306 197950 1425559 729743 4316529 576204 460279 28539 281471 276061 307055 207468 2054025 27209 148796 2519921 806179 273387 UBI Tax 47336 Bad Debt Expense 1950000 Miscellaneous 879441 NYCE - ATM 403577 1431455 17724675 10461623 29688567 3431936 2761282 249827 192498 269163041 283349317 435491 731042 21593274 7462360 14634836 14130914 62342192 39885364 4636300 4425400 7143528 12889089 372498774 388053473 765004 1171610 43945353 44988479 288300114 302762081 333010471 348922170 X 0 0 0 0 39488303 39131303 39488303 39131303 372498774 388053473 X 925140 -746383 -535757 X X 0 1 X 1 0 3519847 3519847 13452939 4011635 9441304 9605 7432 2173 4610883 3443293 1167590 14130914 Deposits 302762081 302762081 17367675 -746383 -535757 -1282140 18649815 0 18649815 17724675 0 17724675 0 17724675 Part XI, Line 2d - Other Adjustments: Unrecognized loss on post retirement plans -535,757. X 1 1 X X 0 0 0 Ellen Ford 222696 0 729 0 7736 0 6918 0 37515 0 275594 0 0 0 Brian Hennessey 137526 0 14000 0 552 0 21967 0 16246 0 190291 0 0 0 Amy Martel 146635 0 15200 0 3840 0 11792 0 18591 0 196058 0 0 0 Peter Murray 119805 0 2250 0 235 0 15817 0 24392 0 162499 0 0 0 Form 990, Part VI, Section A, line 6 People's Credit Union is owned by its members. Form 990, Part VI, Section A, line 7a All People's Credit Union members are encouraged to attend the annual meeting, where they may vote to elect the volunteer Board of Directors who oversee the Credit Union's operations. Each member in good standing receives one vote, regardless of their account balance. Form 990, Part VI, Section B, line 11 The Form 990 is reviewed by the CFO. Form 990, Part VI, Section B, line 12c The Board of Directors, Supervisory Committee and all employees certify annually as to potential conflicts of interest. Form 990, Part VI, Section B, line 15 Peer information is obtained through surveys and utilized in determining compensation, which is approved by a committee. Form 990, Part VI, Section C, line 19 Consolidated financial statements are posted in each branch lobby. Financial information is reported quarterly to the federal regulator and available to the public on their website. Changes in Net Assets or Fund Balances: Form 990, Part XI, line 9: Unrecognized loss on post retirement plans -535,757. Oversight of Audit Form 990, Part XI, Line 2c: The Supervisory Committee makes sure the annual audit is conducted, and works directly with the auditors. They assure that findings of an annual audit are discussed by the board of directors and appropriate changes are implemented. This process has not changed from the prior year.