2022-10-18T11:04:37-00:00 2021-12-31 036364018 Root & Associates 701 Winthrop St 115 Taunton MA 02780 990 2021-01-01 050263842 Ocean State Credit Union % David L Root COVE 4013971900 2006 Nooseneck Hill Road Coventry RI 02816 David Root CEO 4013971900 2022-10-18 true David Root XXX-XX-XXXX David Root P00547525 4014874417 2022-10-18 X 2 AAL1 IAL1 2021 2022-09-23 18:48:47Z David Root 2006 Nooseneck Hill Road Coventry RI 02816 14903508 false X Coventrycu.org X Credit Union 1950 RI The Credit Union is a co-operative owned by its member depositors. Income realized from investment and loan activities enable the Credit Union to provide low cost financial services to its members. 12 12 66 0 0 15074444 14666672 396648 236836 110 0 15471202 14903508 0 0 4067007 4127557 0 0 8382735 7097229 12449742 11224786 3021460 3678722 323002035 328452290 291716897 293475413 31285138 34976877 To provide low cost financial services to member depositors. false false 11224786 14903508 Interest and fees on loans and investments allow the Credit Union to provide low cost financial services to its members. 11224786 false false false false false false false false false true false false true true true false false false false false false false false false false false false false true false false false false false false false false false false false false false false false false true 0 0 false 66 true false false false false false false false false false false false false X 12 12 false false false false true true true true true false true true true false false true true true false false X David Root 4013922310 2006 Nooseneck Hill Road Coventry RI 02816 David L Root President/CEO 040.00 X X 330000 0 0 Thomas Carroll Mortgage Lending 040.00 X 201718 0 0 Ginnie Sosnicki COO 040.00 X 173738 0 0 Claudia Flanagan Consumer Lending 040.00 X 106603 0 0 Michael Airhart Chairman 002.00 X X 15600 0 0 Bruce B Hecker Secretary 002.00 X X 12600 0 0 Paul E Skaling Director 002.00 X X 12600 0 0 William A Sheldon Director 002.00 X X 12600 0 0 James Rowe Treasurer 002.00 X 12600 0 0 Parker Capwell Director 002.00 X 11400 0 0 Robert H McGuire Director 002.00 X 11400 0 0 Richard P Sullivan Director 002.00 X 11400 0 0 Therese S Stafford Director 002.00 X 11400 0 0 Gerard R Cayer Director 002.00 X 11400 0 0 James Crosby Director 002.00 X 11400 0 0 Leo R Blais Director 002.00 X 10450 0 0 956909 4 false true false D3 Logic Inc 2220 Plainfield Pike Cranston RI 02921 Statement preparation and mailing 198699 United Health Care PO Box 94017 Palantine IL 60094 iNSURANCE 382239 State of Rhode Island 1 Capitol Hill Providence RI 02908 Deposit Taxes 133424 FiServ 455 Winding Brook Road Glastonbury CT 02854 Software and Support 723156 Windstream PO Box 9001013 Louiville KY 40290 Internet Services 154147 5 Interest and fees on loans 522291 10185530 10185530 Other fees and charges 900099 2181416 2181416 Sale of consumer mortgages 522291 1516512 1516512 Gain on sale of assets 522291 7124 7124 Other operating income 531120 776090 776090 14666672 236836 236836 14903508 14903508 0 0 0 0 956909 956909 0 2317758 2317758 166963 166963 440195 440195 245732 245732 0 6025 6025 170110 170110 0 0 0 284956 284956 447015 447015 0 0 696179 696179 19095 19095 0 0 0 0 486156 486156 100989 100989 Mortgage Servicing 590125 590125 Equipment Maint and Leasing 607793 607793 Collection and OREO expenses 197933 197933 IT Services 834020 834020 2656833 2656833 11224786 11224786 44046302 17434130 50203956 250638922 249518737 582432 543116 13829385 9027062 4958929 4802323 5341320 23384158 323002035 328452290 430902 1054791 20000000 10000000 271285995 282420622 291716897 293475413 X 31285138 34976877 31285138 34976877 323002035 328452290 3678722 13017 X X false true X true false false 1242403 1242403 7944392 4958757 2985635 4642590 4068305 574285 4802323 Financial derivatives and other financial products Closely-held equity interests Investment 10315646 Accrued Interest 626668 NCUA Deposit 2834732 457F Investment 7063490 Mortgage Servicing Asset 2197861 Other Assets 345761 23384158 Federal income taxes Member Deposits 282420622 Accrued Interest Payable 282420622 true X false false false false false false false David L Root President/CEO 300000 30000 330000 Ginnie Sosnicki COO 173738 173738 Thomas Carroll Mortgage Lending 201718 201718 Part 1 Line 3 A Compensation Committee of the Board of Directors determines the salary and bonus paid to the CEO Form 990, Part VI, Section b, Line 11a The Board reviews the Form 990 at its monthly meeting prior to its filing Form 990, Part VI, Section b, Line 15 The Board has a Compensation Committee for this purpose Form 990, Part VI, Section c, Line 19 The members review such information at the Annual Meeting Form 990, Part XII, Section 2, Line c The Supervisory Committee appointed by the Board retains the independent audit firm and reviews the audited financial statements with such firm