WESTERLY COMMUNITY CREDIT UNION: Form 990, tax year 2010

View the entire original 990 at ProPublica ↗

Organization: WESTERLY COMMUNITY CREDIT UNION (EIN 05-0255222)
Tax period: 2010-01-01 to 2010-12-31
Filed: 2011-05-09
IRS object ID: 201121299349301607
Schema version: 2010v3.2
Source: Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header
Form 990
Schedule D
Schedule O

Return header ReturnHeader

Field	Value	IRS element (for citing)
Timestamp	2011-05-09T15:13:55-00:00	Timestamp
Tax Period End Date	2010-12-31	TaxPeriodEndDate

Preparer Firm PreparerFirm

Preparer Firm Business Name PreparerFirmBusinessName

Field	Value	IRS element (for citing)
Business Name Line1	Root and Associates CPA	BusinessNameLine1

Preparer Firm US Address PreparerFirmUSAddress

Field	Value	IRS element (for citing)
Address Line1	225 Newman Avenue	AddressLine1
City	Rumford	City
State	RI	State
ZIP Code	02916	ZIPCode

Field	Value	IRS element (for citing)
Return Type	990	ReturnType
Tax Period Begin Date	2010-01-01	TaxPeriodBeginDate

Filer Filer

Field	Value	IRS element (for citing)
EIN	050255222	EIN

Name Name

Field	Value	IRS element (for citing)
Business Name Line1	Westerly Community Credit Union	BusinessNameLine1

Field	Value	IRS element (for citing)
Name Control	WEST	NameControl
Phone	4015962044	Phone

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	122 Granite Street	AddressLine1
City	Westerly	City
State	RI	State
ZIP Code	028912400	ZIPCode

Officer Officer

Field	Value	IRS element (for citing)
Name	Robert Falso	Name
Title	CFO	Title
Date Signed	2011-05-09	DateSigned
Authorize Third Party	true	AuthorizeThirdParty

Preparer Preparer

Field	Value	IRS element (for citing)
Name	David Root	Name
Phone	4012288770	Phone
Date Prepared	2011-05-09	DatePrepared
Self Employed	X	SelfEmployed

Field	Value	IRS element (for citing)
Tax Year	2010	TaxYear
Build TS	2016-02-24 21:20:13Z	BuildTS

Form 990 IRS990

Name Of Principal Officer Business NameOfPrincipalOfficerBusiness

Field	Value	IRS element (for citing)
Business Name Line1	Robert Falso	BusinessNameLine1

Address Principal Officer US AddressPrincipalOfficerUS

Field	Value	IRS element (for citing)
Address Line1	122 Granite Street	AddressLine1
City	Westerly	City
State	RI	State
ZIP Code	02891	ZIPCode

Field	Value	IRS element (for citing)
Gross Receipts	12150561	GrossReceipts
Group Return For Affiliates	false	GroupReturnForAffiliates
Organization501c	X	Organization501c
Web Site	Westerlyccu.com	WebSite
Type Of Organization Association	X	TypeOfOrganizationAssociation
Year Formation	1948	YearFormation
State Legal Domicile	RI	StateLegalDomicile
Activity Or Mission Description	Interest earned from loan and investment activities allows the Credit Union to provide low cost financial services to its member owners. Interest earned from loan and investment activities allows the Credit Union to provide low cost financial services to its member owners.	ActivityOrMissionDescription
Nbr Voting Members Governing Body	12	NbrVotingMembersGoverningBody
Nbr Independent Voting Members	12	NbrIndependentVotingMembers
Total Nbr Employees	75	TotalNbrEmployees
Total Gross UBI	0	TotalGrossUBI
Contributions Grants Current Year	0	ContributionsGrantsCurrentYear
Program Service Revenue Prior Year	12675647	ProgramServiceRevenuePriorYear
Program Service Revenue CY	11286775	ProgramServiceRevenueCY
Investment Income Prior Year	1063154	InvestmentIncomePriorYear
Investment Income Current Year	863786	InvestmentIncomeCurrentYear
Other Revenue Current Year	0	OtherRevenueCurrentYear
Total Revenue Prior Year	13738801	TotalRevenuePriorYear
Total Revenue Current Year	12150561	TotalRevenueCurrentYear
Grants And Similar Amnts CY	0	GrantsAndSimilarAmntsCY
Benefits Paid To Members CY	0	BenefitsPaidToMembersCY
Salaries Etc Prior Year	3954706	SalariesEtcPriorYear
Salaries Etc Current Year	4092488	SalariesEtcCurrentYear
Total Prof Fundrsng Exp CY	0	TotalProfFundrsngExpCY
Total Fundrsng Exp Current Year	0	TotalFundrsngExpCurrentYear
Other Expense Prior Year	10259259	OtherExpensePriorYear
Other Expenses Current Year	7018852	OtherExpensesCurrentYear
Total Expenses Prior Year	14213965	TotalExpensesPriorYear
Total Expenses Current Year	11111340	TotalExpensesCurrentYear
Revenues Less Expenses Prior Year	-475164	RevenuesLessExpensesPriorYear
Revenues Less Expenses CY	1039221	RevenuesLessExpensesCY
Total Assets BOY	210948054	TotalAssetsBOY
Total Assets EOY	213056193	TotalAssetsEOY
Total Liabilities BOY	196351306	TotalLiabilitiesBOY
Total Liabilities EOY	196734474	TotalLiabilitiesEOY
Net Assets Or Fund Balances BOY	14596748	NetAssetsOrFundBalancesBOY
Net Assets Or Fund Balances EOY	16321719	NetAssetsOrFundBalancesEOY
Mission Description	To provide low cost financial services to the Credit Union owner depositors.	MissionDescription
Significant New Program Services	false	SignificantNewProgramServices
Significant Change	false	SignificantChange
Expense	11111340	Expense
Description	Interest earned on loans and investments allow the Credit Union to provide low cost financial services to its member owners.	Description
Total Program Service Expense	11111340	TotalProgramServiceExpense
Described In501 C3	false	DescribedIn501C3
Schedule B Required	false	ScheduleBRequired
Political Activities	false	PoliticalActivities
Donor Advised Funds	false	DonorAdvisedFunds
Conservation Easements	false	ConservationEasements
Collections Of Art	false	CollectionsOfArt
Credit Counseling	false	CreditCounseling
Term Or Permanent Endowments	false	TermOrPermanentEndowments
Report Land Bldg Equip	true	ReportLandBldgEquip
Report Invest Oth Securities	false	ReportInvestOthSecurities
Report Prog Rel Invest	false	ReportProgRelInvest
Report Other Assets	false	ReportOtherAssets
Report Other Liabilities	true	ReportOtherLiabilities
Report Fin48 Footnote	false	ReportFin48Footnote
Independent Audit Financial Stmt	true	IndependentAuditFinancialStmt
Consolidated Audit Financial Stmt	false	ConsolidatedAuditFinancialStmt
School	false	School
Foreign Office	false	ForeignOffice
Foreign Activities	false	ForeignActivities
More Than5000 K To Organizations	false	MoreThan5000KToOrganizations
More Than5000 K To Individuals	false	MoreThan5000KToIndividuals
Professional Fundraising	false	ProfessionalFundraising
Fundraising Activities	false	FundraisingActivities
Gaming	false	Gaming
Hospital	false	Hospital
Grants To Organizations	false	GrantsToOrganizations
Grants To Individuals	false	GrantsToIndividuals
Schedule J Required	false	ScheduleJRequired
Tax Exempt Bonds	false	TaxExemptBonds
Invest Tax Exempt Bonds	false	InvestTaxExemptBonds
Escrow Account	false	EscrowAccount
On Behalf Of Issuer	false	OnBehalfOfIssuer
Loan To Officer Or DQP	false	LoanToOfficerOrDQP
Grant To Related Person	false	GrantToRelatedPerson
Bsnss Rltnshp With Organization	false	BsnssRltnshpWithOrganization
Bsnss Rltnshp Thru Family Member	false	BsnssRltnshpThruFamilyMember
Officer Entity With Bsnss Rltnshp	false	OfficerEntityWithBsnssRltnshp
Deductible Non Cash Contributions	false	DeductibleNonCashContributions
Deductible Contributions Of Art	false	DeductibleContributionsOfArt
Terminated	false	Terminated
Partial Liquidation	false	PartialLiquidation
Disregarded Entity	false	DisregardedEntity
Related Entity	false	RelatedEntity
Related Org Controlled Entity	false	RelatedOrgControlledEntity
Transaction Related Entity	false	TransactionRelatedEntity
Activities Conducted Partnership	false	ActivitiesConductedPartnership
Schedule O Required	true	ScheduleORequired
Number Forms Transmitted With1096	6397	NumberFormsTransmittedWith1096
Number W2 G Included	0	NumberW2GIncluded
Compliance With Backup Witholding	true	ComplianceWithBackupWitholding
Number Of Employees	75	NumberOfEmployees
Employment Tax Returns Filed	true	EmploymentTaxReturnsFiled
Unrelated Business Income	false	UnrelatedBusinessIncome
Foreign Financial Account	false	ForeignFinancialAccount
Prohibited Tax Shelter Trans	false	ProhibitedTaxShelterTrans
Taxable Party Notification	false	TaxablePartyNotification
Non Deductible Contributions	false	NonDeductibleContributions
Funds To Pay Premiums	false	FundsToPayPremiums
Premiums Paid	false	PremiumsPaid
Form8899 Filed	false	Form8899Filed
Form1098 C Filed	false	Form1098CFiled
Indoor Tanning Services	false	IndoorTanningServices
Info In Schedule O Part VI	X	InfoInScheduleOPartVI
Nbr Voting Governing Body Members	12	NbrVotingGoverningBodyMembers
Number Independent Voting Members	12	NumberIndependentVotingMembers
Family Or Business Relationship	false	FamilyOrBusinessRelationship
Delegation Of Management Duties	false	DelegationOfManagementDuties
Changes To Organizing Docs	false	ChangesToOrganizingDocs
Material Diversion Or Misuse	false	MaterialDiversionOrMisuse
Members Or Stockholders	true	MembersOrStockholders
Election Of Board Members	true	ElectionOfBoardMembers
Decisions Subject To Approval	true	DecisionsSubjectToApproval
Minutes Of Governing Body	true	MinutesOfGoverningBody
Minutes Of Committees	true	MinutesOfCommittees
Officer Mailing Address	false	OfficerMailingAddress
Local Chapters	true	LocalChapters
Policies Reference Chapters	true	PoliciesReferenceChapters
Form990 Provided To Governing Body	true	Form990ProvidedToGoverningBody
Conflict Of Interest Policy	true	ConflictOfInterestPolicy
Annual Disclosure Covered Persons	true	AnnualDisclosureCoveredPersons
Regular Monitoring Enforcement	true	RegularMonitoringEnforcement
Whistleblower Policy	false	WhistleblowerPolicy
Document Retention Policy	true	DocumentRetentionPolicy
Compensation Process CEO	true	CompensationProcessCEO
Compensation Process Other	true	CompensationProcessOther
Investment In Joint Venture	false	InvestmentInJointVenture
Upon Request	X	UponRequest

The Books Are In Care Of TheBooksAreInCareOf

Field	Value	IRS element (for citing)
Name Person	Robert Falso	NamePerson
Telephone Number	4015982044	TelephoneNumber

Address US AddressUS

Field	Value	IRS element (for citing)
Address Line1	122 Granite Street	AddressLine1
City	Westerly	City
State	RI	State
ZIP Code	028912400	ZIPCode

Form990 Part VII Section A Form990PartVIISectionA (15 entries)

TitleTitle	Average Hours Per WeekAverageHoursPerWeek	Individual Trustee Or DirectorIndividualTrusteeOrDirector	Reportable Comp From OrganizationReportableCompFromOrganization	Reportable Comp From Related OrgsReportableCompFromRelatedOrgs	Other CompensationOtherCompensation	Key EmployeeKeyEmployee	Highest Compensated EmployeeHighestCompensatedEmployee
William D Home
Director	002.00	X	7250	0	0
David Sayles
Director	001.00	X	3250	0	0
Robert J Delaney
Director	002.00	X	5750	0	0
M Elizabeth Fusco
Director	001.00	X	3250	0	0
Peter D Griggs
Director	001.00	X	3250	0	0
Danny M Nesmith
Director	002.00	X	5750	0	0
William A Quirk
Director	001.00	X	3250	0	0
Ruth Foster-Morgan
Director	001.00	X	5750	0	0
Joseph Limanni
Director	001.00	X	3250	0	0
Steven Scales
Director	001.00	X	6950	0	0
James G Gleason
Director	001.00	X	3250	0	0
Melessa Hill-Bush
Director	001.00	X	3250	0	0
Stephen White
Employee	040.00		165781	0	0	X	X
Robert Falso
Employee	040.00		120346	0	0	X	X
Michael Lynch
Employee	040.00		101281	0	0	X	X

Field	Value	IRS element (for citing)
Total Reportable Comp From Org	441608	TotalReportableCompFromOrg
Number Individuals GT100 K	3	NumberIndividualsGT100K
Formers Listed	false	FormersListed
Total Comp GT150 K	false	TotalCompGT150K
Compensation From Other Sources	false	CompensationFromOtherSources

Contractor Compensation ContractorCompensation (4 entries)

Address Line1AddressOfContractor/AddressUS/AddressLine1	CityAddressOfContractor/AddressUS/City	StateAddressOfContractor/AddressUS/State	ZIP CodeAddressOfContractor/AddressUS/ZIPCode	Description Of ServicesDescriptionOfServices	CompensationCompensation
Jack Henry & Associates
PO Box 503328	St Louis	MO	63150	Data Processing	429791
United Healthcare
PO Box 1057	Providence	RI	02901	Insurance	332444
Diebold Inc
145 Waterman Street	East Providence	RI	02914	ATM, Equipment Servicing	149956
Northeast Member Business Services
PO Box 544	Keene	NH	03431	Computer	588025

Field	Value	IRS element (for citing)
Number Of Contractors GT100 K	4	NumberOfContractorsGT100K

Program Service Revenue ProgramServiceRevenue (3 entries)

DescriptionDescription	Total Revenue ColumnTotalRevenueColumn	Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome
Interest on Loans to Members	9199651	9199651
Fees from Services	1759008	1759008
Gain on Sales of Mortgages	328116	328116

Field	Value	IRS element (for citing)
Total Program Service Revenue	11286775	TotalProgramServiceRevenue

Investment Income InvestmentIncome

Field	Value	IRS element (for citing)
Total Revenue Column	863786	TotalRevenueColumn
Related Or Exempt Function Income	863786	RelatedOrExemptFunctionIncome

Total Revenue TotalRevenue

Field	Value	IRS element (for citing)
Total Revenue Column	12150561	TotalRevenueColumn
Related Or Exempt Function Income	12150561	RelatedOrExemptFunctionIncome

Grants To Domestic Orgs GrantsToDomesticOrgs

Field	Value	IRS element (for citing)
Total	0	Total

Grants To Domestic Individuals GrantsToDomesticIndividuals

Field	Value	IRS element (for citing)
Total	0	Total

Foreign Grants ForeignGrants

Field	Value	IRS element (for citing)
Total	0	Total

Benefits To Members BenefitsToMembers

Field	Value	IRS element (for citing)
Total	0	Total

Comp Current Officers Directors CompCurrentOfficersDirectors

Field	Value	IRS element (for citing)
Total	441608	Total
Program Services	441608	ProgramServices

Comp Disqual Persons CompDisqualPersons

Field	Value	IRS element (for citing)
Total	0	Total

Other Salaries And Wages OtherSalariesAndWages

Field	Value	IRS element (for citing)
Total	2564915	Total
Program Services	2564915	ProgramServices

Pension Plan Contributions PensionPlanContributions

Field	Value	IRS element (for citing)
Total	319668	Total
Program Services	319668	ProgramServices

Other Employee Benefits OtherEmployeeBenefits

Field	Value	IRS element (for citing)
Total	528217	Total
Program Services	528217	ProgramServices

Payroll Taxes PayrollTaxes

Field	Value	IRS element (for citing)
Total	238080	Total
Program Services	238080	ProgramServices

Fees For Services Management FeesForServicesManagement

Field	Value	IRS element (for citing)
Total	0	Total

Fees For Services Legal FeesForServicesLegal

Field	Value	IRS element (for citing)
Total	92450	Total
Program Services	92450	ProgramServices

Fees For Services Accounting FeesForServicesAccounting

Field	Value	IRS element (for citing)
Total	82000	Total
Program Services	82000	ProgramServices

Fees For Services Lobbying FeesForServicesLobbying

Field	Value	IRS element (for citing)
Total	0	Total

Field	Value	IRS element (for citing)
Fees For Services Prof Fundraising		FeesForServicesProfFundraising

Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees

Field	Value	IRS element (for citing)
Total	0	Total

Fees For Services Other FeesForServicesOther

Field	Value	IRS element (for citing)
Total	0	Total

Advertising Advertising

Field	Value	IRS element (for citing)
Total	203621	Total
Program Services	203621	ProgramServices

Office Expenses OfficeExpenses

Field	Value	IRS element (for citing)
Total	190391	Total
Program Services	190391	ProgramServices

Information Technology InformationTechnology

Field	Value	IRS element (for citing)
Total	791153	Total
Program Services	791153	ProgramServices

Royalties Royalties

Field	Value	IRS element (for citing)
Total	0	Total

Occupancy Occupancy

Field	Value	IRS element (for citing)
Total	482602	Total
Program Services	482602	ProgramServices

Travel Travel

Field	Value	IRS element (for citing)
Total	0	Total

Travel Entrtnmnt Public Officials TravelEntrtnmntPublicOfficials

Field	Value	IRS element (for citing)
Total	0	Total

Conferences Meetings ConferencesMeetings

Field	Value	IRS element (for citing)
Total	0	Total

Interest Interest

Field	Value	IRS element (for citing)
Total	2171121	Total
Program Services	2171121	ProgramServices

Payments To Affiliates PaymentsToAffiliates

Field	Value	IRS element (for citing)
Total	0	Total

Depreciation Depletion DepreciationDepletion

Field	Value	IRS element (for citing)
Total	559361	Total
Program Services	559361	ProgramServices

Insurance Insurance

Field	Value	IRS element (for citing)
Total	79224	Total
Program Services	79224	ProgramServices

Other Expenses OtherExpenses (5 entries)

DescriptionDescription	TotalTotal	Program ServicesProgramServices
Allowance for Loan Losses	597901	597901
Loan Servicing and Collection	200736	200736
Equipment Rental and Servicing	120675	120675
Other Real Estate Owned	509906	509906
Other General and Administrative Expenses	483965	483965

All Other Expenses AllOtherExpenses

Field	Value	IRS element (for citing)
Total	453746	Total
Program Services	453746	ProgramServices

Total Functional Expenses TotalFunctionalExpenses

Field	Value	IRS element (for citing)
Total	11111340	Total
Program Services	11111340	ProgramServices

Cash Non Interest Bearing CashNonInterestBearing

Field	Value	IRS element (for citing)
BOY	8558130	BOY
EOY	5286616	EOY

Savings And Temp Cash Investments SavingsAndTempCashInvestments

Field	Value	IRS element (for citing)
BOY	325000	BOY
EOY	325000	EOY

Accounts Receivable AccountsReceivable

Field	Value	IRS element (for citing)
BOY	167323263	BOY
EOY	173937166	EOY

Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges

Field	Value	IRS element (for citing)
BOY	1911549	BOY
EOY	1820131	EOY

Field	Value	IRS element (for citing)
Land Buildings Equipment Basis	14484766	LandBuildingsEquipmentBasis
Land Bldg Equipment Accum Deprec	8217056	LandBldgEquipmentAccumDeprec

Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet

Field	Value	IRS element (for citing)
BOY	5681136	BOY
EOY	6267710	EOY

Investments Pub Traded Securities InvestmentsPubTradedSecurities

Field	Value	IRS element (for citing)
BOY	21935448	BOY
EOY	19477431	EOY

Investments Program Related InvestmentsProgramRelated

Field	Value	IRS element (for citing)
BOY	983300	BOY
EOY	983300	EOY

Other Assets Total OtherAssetsTotal

Field	Value	IRS element (for citing)
BOY	4230228	BOY
EOY	4958839	EOY

Total Assets TotalAssets

Field	Value	IRS element (for citing)
BOY	210948054	BOY
EOY	213056193	EOY

Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses

Field	Value	IRS element (for citing)
BOY	2221105	BOY
EOY	2923216	EOY

Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp

Field	Value	IRS element (for citing)
BOY	12293669	BOY
EOY	16509679	EOY

Other Liabilities OtherLiabilities

Field	Value	IRS element (for citing)
BOY	181836532	BOY
EOY	177301579	EOY

Total Liabilities TotalLiabilities

Field	Value	IRS element (for citing)
BOY	196351306	BOY
EOY	196734474	EOY

Field	Value	IRS element (for citing)
Do Not Follow SFAS117	X	DoNotFollowSFAS117

Retained Earnings Endowment Etc RetainedEarningsEndowmentEtc

Field	Value	IRS element (for citing)
BOY	14596748	BOY
EOY	16321719	EOY

Total Net Assets Fund Balances TotalNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	14596748	BOY
EOY	16321719	EOY

Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	210948054	BOY
EOY	213056193	EOY

Field	Value	IRS element (for citing)
Info In Schedule O Part XI	X	InfoInScheduleOPartXI
Reconcilation Revenue Expenses	1039221	ReconcilationRevenueExpenses
Reconcilation Other Changes	685750	ReconcilationOtherChanges
Method Of Accounting Accrual	X	MethodOfAccountingAccrual
Accountant Compile Or Review	false	AccountantCompileOrReview
FS Audited	true	FSAudited
Audit Committee	true	AuditCommittee
Financial Statement Separate	X	FinancialStatementSeparate
Federal Grant Audit Required	false	FederalGrantAuditRequired

Schedule D IRS990ScheduleD

Field	Value	IRS element (for citing)
Included On FS	false	IncludedOnFS

Land Land

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	1178154	OtherCostOrOtherBasis
Book Value	1178154	BookValue

Buildings Buildings

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	7556276	OtherCostOrOtherBasis
Depreciation	4223412	Depreciation
Book Value	3357168	BookValue

Equipment Equipment

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	4694228	OtherCostOrOtherBasis
Depreciation	4083470	Depreciation
Book Value	676280	BookValue

Other Land Buildings OtherLandBuildings

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	1056108	OtherCostOrOtherBasis
Depreciation	1056108	Depreciation
Book Value	1056108	BookValue

Field	Value	IRS element (for citing)
Total Of Book Value Land Buildings	6267710	TotalOfBookValueLandBuildings

Other Liabilities OtherLiabilities

Field	Value	IRS element (for citing)
Description	Member Savings Accounts	Description
Amount	$177,301,579	Amount

Field	Value	IRS element (for citing)
Total Of Amounts	177301579	TotalOfAmounts
Total Revenue	12150561	TotalRevenue
Total Expenses	11111340	TotalExpenses
Excess Or Deficit For Year	1039221	ExcessOrDeficitForYear
Excess Or Deficit Per FS	1039221	ExcessOrDeficitPerFS
Tot Revenue Etc Audited Fincl Stmt	12150561	TotRevenueEtcAuditedFinclStmt
Revenue Subtotal	12150561	RevenueSubtotal
Total Revenue Per Form990	12150561	TotalRevenuePerForm990
Tot Expenses Etc Audited Fincl Stmt	11111340	TotExpensesEtcAuditedFinclStmt
Expenses Subtotal	11111340	ExpensesSubtotal
Total Expenses Per Form990	11111340	TotalExpensesPerForm990

Schedule O IRS990ScheduleO

General Explanation GeneralExplanation (9 entries)

IdentifierIdentifier	Return ReferenceReturnReference	ExplanationExplanation
Form 990 Part VI	6	The Credit Union is owned by its member depositors.
Form 990 Part VI	7ab	The members elect the Board of Directors and ratify its actions at the Annual Meeting.
Form 990 Part VI	11	The Form 990 is reviewed by management prior to its filing and copies are provided to the Board of Directors at its subsequent meeting.
Form 990 Part VI	12abc	The Supervisory Committee monitors the Board of Directors complience with internal policies and provisions of Rhode Island General Law.
Form 990 Part VI	14	The Credit Union has a record retention policy in accordance with regulations promulgated by the National Credit Union Administration.
Form 990 Part VI	15a	Officers salaries are approved annually by the Board of Directors.
Form 990 Part VI	15b	Fees paid to members of the Board of Directors are approved by the members at the Annual Meeting.
Form 990 Part VI	19	Financial results are posted monthly at each branch office. Credit Union policies are available upon request.
Form 990 Part XI	5	Increase in equity 734,794 for decrease in the unrealized loss on investments classified as available for sale, and a decrease in equity of 49,044 for an increase in the unfunded pension liability.