2011-10-26T12:31:01-05:00 2010-12-31 Berry Dunn McNeil & Parker LLC PO Box 1100 Portland ME 041041100 990 2010-01-01 050198580 People's Credit Union PEOP 4018468930 858 West Main Road Middletown RI 02842 Brian Hennessey 4018468930 2011-10-24 1 Barbara J McGuan CPA 2077752387 2011-10-24 2010 2016-03-07 17:11:31Z Ellen Ford 858 West Main Road Middletown RI 02842 42686457 0 X www.peoplescu.com X Cooperative Financial Institution 1922 RI State chartered credit union 9 9 138 0 214794 181927 0 0 20575650 16904401 1841878 953122 0 0 22417528 17857523 0 0 0 0 6549414 6359807 0 0 0 16064957 12567976 22614371 18927783 -196843 -1070260 402803107 376462255 361949600 335049942 40853507 41412313 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 7,519 loans to members. The outstanding loan balance at 12/31/10 was $258,849,551. People's maintains savings accounts for members. Total outstanding savings accounts at 12/31/10 was 26,792 for $220,192,425. People's maintains demand deposit accounts for members. Total outstanding demand deposit accounts at 12/31/10 was 16,192 for $71,061,587. 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 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 20381 0 1 138 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 6800 0 0 David Faucher 1.00 X X 10800 0 0 John Greichen 1.00 X 6600 0 0 Terri Marcucci Fitch 1.00 X X 8800 0 0 Edward P Gosling III 1.00 X 6800 0 0 Louann Lawrence 1.00 X X 8200 0 0 James F Mahoney 1.00 X 1600 0 0 Edward T Lopes Jr 1.00 X X 8400 0 0 John J Trifero 1.00 X 6800 0 0 William L Douglas Jr 1.00 X 7300 0 0 Ellen Ford 40.00 X 232381 0 63543 Brian Hennessey 40.00 X 101134 0 22384 Amy Martel 40.00 X 157762 0 17877 563377 0 103804 3 0 1 0 FIS PO Box 4535 Carol Streams IL 601974535 System Processor 622240 Vantiv Holding LLC 8500 Governors Hill Dr Symmes Township OH 45249 ATM/Debit Card Services 471436 S1 Corporation 99944 Collection Center Dr Chicago IL 60693 Architect/Proj. Mgmt. 328830 Cathedral Corporation 632 Ellsworth Road Rome NY 13441 Postage & Admin. Svcs. 203603 American Express PO Box 1270 Newark NJ 071011270 Credit Card Vendor 194935 8 Loan Interest 522100 13645807 13645807 Fee & Service Income 522100 3258594 3043800 214794 16904401 2428783 2428783 22778516 574757 24241281 587653 -1462765 -12896 -1475661 -1475661 17857523 16689607 214794 953122 696148 4394321 229991 650640 388707 62148 189136 249169 2024362 549215 37957 150397 3976154 729269 749125 Bad Debt Expense 1871000 ATM Debit Expense 471845 Miscellaneous 268118 Deposit Tax 242818 Online Banking 208015 789248 18927783 6950616 8325723 14094578 6422127 191289 184010 268706226 255271715 367898 313900 20881034 6044267 15154217 14836767 82515945 75148897 5356300 5356300 9466038 10602816 402803107 376462255 916000 680562 63815163 42825351 297218437 291544029 361949600 335049942 X 0 0 0 0 40853507 41412313 40853507 41412313 402803107 376462255 X -1070260 1629066 X X 0 1 1 X 0 3519847 3519847 13348486 3115259 10233227 9605 4688 4917 3909579 2924320 985259 93517 93517 14836767 Deposits 291544029 291544029 17857523 18927783 -1070260 1629066 1629066 558806 19486589 1629066 1629066 17857523 0 17857523 18927783 0 18927783 0 18927783 X 1 1 X X 0 0 0 Ellen Ford 221440 0 1369 0 9572 0 30649 0 32894 0 295924 0 0 0 Amy Martel 149000 0 5000 0 3762 0 9488 0 8389 0 175639 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 gains on investments: 1,629,066. 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.