2012-08-06T10:20:47-05:00 2011-12-31 010523282 Berry Dunn McNeil & Parker LLC PO Box 1100 Portland ME 041041100 990 2011-01-01 050198580 People's Credit Union PEOP 4018468930 858 West Main Road Middletown RI 02842 Brian Hennessey 4018468930 2012-08-03 1 Barbara J McGuan CPA P00219457 2077752387 2012-08-02 2011 2016-02-24 21:20:13Z Ellen Ford 858 West Main Road Middletown RI 02842 20460962 0 X www.peoplescu.com X Cooperative Financial Institution 1922 RI State chartered credit union 9 9 122 0 199012 167598 0 0 16904401 16030452 953122 1964629 0 0 17857523 17995081 0 0 0 0 6359807 5896696 0 0 0 12567976 11624239 18927783 17520935 -1070260 474146 376462255 372498774 335049942 333010471 41412313 39488303 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 6,955 loans to members. The outstanding loan balance at 12/31/11 was $272,625,905. People's maintains savings accounts for members. Total outstanding savings accounts at 12/31/11 was 23,913 for $214,114,461. People's maintains demand deposit accounts for members. Total outstanding demand deposit accounts at 12/31/11 was 16,719 for $74,044,847. People's offers safe deposit boxes to members. The number of safe deposit boxes rented is 1,267. 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 0 1 16755 0 1 122 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 6400 0 0 David Faucher 1.00 X X 10600 0 0 John Greichen 1.00 X 6200 0 0 Terri Marcucci Fitch 1.00 X X 8600 0 0 Edward P Gosling III 1.00 X 4800 0 0 Louann Lawrence 1.00 X X 8600 0 0 Edward T Lopes Jr 1.00 X X 8600 0 0 John J Trifero 1.00 X 6600 0 0 William L Douglas Jr 1.00 X 6600 0 0 Christopher S Ottiano 1.00 X 8000 0 0 Ellen Ford 40.00 X 232340 0 39899 Brian Hennessey 40.00 X 138348 0 36664 Amy Martel 40.00 X 148889 0 20997 594577 0 97560 3 0 1 0 FIS PO Box 4535 Carol Streams IL 601974535 System Processor 618075 Vantiv Holding LLC 8500 Governors Hill Dr Symmes Township OH 45249 ATM/Debit Card Svcs. 455268 Diebold PO Box 643543 Pittsburgh PA 152643543 Security Services 407967 S1 Corporation 99944 Collection Center Dr Chicago IL 60693 Architect/Proj. Mgmt. 302577 4 Loan Interest 522100 13378315 13378315 Fee & Service Income 522100 2652137 2453125 199012 16030452 1725062 1725062 2125006 580442 1902172 563709 222834 16733 239567 239567 17995081 15831440 199012 1964629 617137 4135448 63802 667526 412783 22711 218603 259725 315270 65574 1978983 27395 148138 3052239 762556 696495 UBI Tax 80827 Bad Debt Expense 2100000 NYCE - ATM 432364 Online Banking 249462 1213897 17520935 8325723 10461623 6422127 3431936 184010 249827 255271715 269163041 313900 435491 21291017 6656181 14836767 14634836 75148897 62342192 5356300 4636300 10602816 7143528 376462255 372498774 680562 765004 42825351 43945353 291544029 288300114 335049942 333010471 X 0 0 0 0 41412313 39488303 41412313 39488303 376462255 372498774 X 474146 -2398156 X X 0 1 1 X 0 3519847 3519847 13400242 3543248 9856994 9605 6060 3545 4358960 3106873 1252087 2363 2363 14634836 Deposits 288300114 288300114 17995081 17520935 474146 -384520 -2013636 -2398156 -1924010 15596925 -384520 -2013636 -2398156 17995081 0 17995081 17520935 0 17520935 0 17520935 Part XI, Line 8 - Other Adjustments: Unrecognized loss on post retirement plans -2,013,636. Part XII, Line 2d: Unrecognized loss on post retirement plans -2,013,636 X 1 1 X X 0 0 0 Ellen Ford 221556 0 1127 0 9657 0 6851 0 33048 0 272239 0 0 0 Brian Hennessey 137796 0 0 0 552 0 21547 0 15117 0 175012 0 0 0 Amy Martel 145073 0 0 0 3816 0 11275 0 9722 0 169886 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 5: Net unrealized losses on investments: -384,520. Unrecognized loss on post retirement plans -2,013,636. Total to Form 990, Part XI, Line 5: -2,398,156. 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.