2013-04-11T07:29:13-00:00 2012-12-31 Root & Associates 1929 Horton Street North Dighton MA 02764 990 2012-01-01 050263842 Coventry Credit Union COVE 4013971900 2006 Nooseneck Hill Road Coventry RI 02816 David Root CEO 4013922310 2013-04-11 true David Root 5086696476 2013-04-11 X 2012 2016-02-25 16:41:14Z David Root 2006 Nooseneck Hill Road Coventry RI 02816 12633797 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 91 52397 -1063 0 11920857 12047330 1573650 586467 0 13494507 12633797 0 0 4178920 3603022 0 0 9428146 7724298 13607066 11327320 -112559 1306477 248464209 220712691 229466262 200624070 18997947 20088621 To provide low cost financial services to member depositors. false false 11327320 12633797 Interest and fees on loans and investments allow the Credit Union to provide low cost financial services to its members. 11327320 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 false false true 12857 0 91 true true true 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 David Root 4013922310 2006 Nooseneck Hill Road Coventry RI 02816 Roger JLaliberte 002.00 X 9000 0 0 Michael D Airhart 002.00 X 9000 0 0 Thomas F Lacolle 002.00 X 9000 0 0 Bruce B Hecker 002.00 X 9000 0 0 Leo R Blais 002.00 X 8400 0 0 Robert H McGuire 002.00 X 8400 0 0 Paul E Scaling 002.00 X 8400 0 0 Richard Audet 002.00 X 8400 0 0 William A Sheldon 002.00 X 9000 0 0 Richard P Sullivan 002.00 X 8400 0 0 Therese S Stafford 002.00 X 8400 0 0 James Rowe 002.00 X 8400 0 0 David L Root 040.00 040.00 X 300000 0 0 403800 1 false false false D3 Logic Inc 2220 Plainfield Pike Cranston RI 02921 Statement preparation and mailing 238471 National Grid 300 Erie Blvd Syracuse NY 13202 Utilities 106632 Verizon PO Box 1100 Albany NY 12250 Telephone 214955 Open Solutions Inc 455 Winding Brook Road Glastonbury CT 02854 Software and Support 265089 Mutual Properties Inc 1 James Murphy Highway West Warwick RI 02826 Rent 155591 7 Interest and fees on loans 522291 7298004 7298004 Other fees and charges 900099 2957166 2957166 Sale of consumer mortgages 522291 1529521 1529521 Gain on sale of assets 522291 210242 210242 Rental income and insurance premiums 531120 52397 52397 12047330 586467 586467 12633797 12581400 52397 0 0 0 0 403800 403800 0 2631479 2631479 96000 96000 293087 293087 178656 178656 0 120897 120897 27000 27000 0 0 0 209588 209588 342554 342554 638571 638571 0 649926 649926 0 0 43870 43870 2169008 2169008 0 651597 651597 96913 96913 Allowance for Loan Losses 279461 279461 Equipment Maint and Leasing 653138 653138 Collection and OREO expenses 499217 499217 Mortgage servicing 667868 667868 674690 674690 11327320 11327320 3492132 4698767 75921587 61591690 156467446 143475776 1516474 1349964 12492560 7118865 5872700 5373695 5193870 4222799 248464209 220712691 638847 638483 26500000 19000000 202327415 180985587 229466262 200624070 X 18997947 20088621 18997947 20088621 248464209 220712691 1306477 -215803 X false true X true false false 1242403 1242403 6252216 2891006 3361210 4997941 4227859 770082 5373695 Financial derivatives and other financial products Closely-held equity interests Federal income taxes Member Deposits 180873483 Accrued Interest Payable 112104 180985587 Form 990 Part VI A 6 The Credit Union is owned by its member depositors. Form 990 Part VI A 7 The members elect the Board at the Annual Meeting and ratify its actions. Form 990 Part VI A 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 B 11 The Form 990 is reviewed by management prior to its filing and approved by the Board of Directors at its subsequent meeting. Form 990 Part VI B The Supervisory Committee regularly monitors Board activity for possible conflicts of interest and activites prohibited by Rhode Island and Fderal Laws governing credit unions. Form 990 Part VI B 15 The CEOs salary is approved by the Board via written contractual agreement. Board and Committee compensation are approved by the members at the Annual Meeting. Form 990 Part VI C 19 Financial results are posted monthly at each branch office. Members may request copies of the Credit Unions policies at any time.