2021-09-01T03:21:51-00:00 2020-12-31 Root & Associates 701 Winthrop St 115 Taunton MA 02780 990 2020-01-01 050263842 Ocean State Credit Union COVE 4013971900 2006 Nooseneck Hill Road Coventry RI 02816 David Root CEO CEO 2021-09-01 true David Root XXX-XX-XXXX David Root P00547525 4014874417 2021-09-01 X 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z David Root 2006 Nooseneck Hill Road Coventry RI 02816 15493652 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 70 0 0 12532795 15074444 737747 396648 110 13270542 15471202 0 0 4319823 4067007 0 0 7319113 8382735 11638936 12449742 1631606 3021460 290170256 323002035 261959906 291716897 28210350 31285138 X To provide low cost financial services to member depositors. false false 12449742 15471202 Interest and fees on loans and investments allow the Credit Union to provide low cost financial services to its members. 12449742 false false false false false false false false false true false false false 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 23 0 false 70 true false false false 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 true true true false true true true false X David Root 4013922310 2006 Nooseneck Hill Road Coventry RI 02816 David L Root President/CEO 040.00 X X 345769 0 0 Thomas Carroll Mortgage Lending 040.00 X 240398 0 0 Ginnie Sosnicki COO 040.00 X 158372 0 0 Claudia Flanagan Consumer Lending 040.00 X 103440 0 0 Michael Airhart Chairman 002.00 X X 14500 0 0 Bruce B Hecker Secretary 002.00 X X 12000 0 0 William A Sheldon Director 002.00 X X 12000 0 0 James Rowe Treasurer 002.00 X 12000 0 0 Paul E Skaling Director 002.00 X X 11700 0 0 Leo R Blais Director 002.00 X 10900 0 0 Robert H McGuire Director 002.00 X 10900 0 0 Richard P Sullivan Director 002.00 X 10900 0 0 Therese S Stafford Director 002.00 X 10900 0 0 Gerard R Cayer Director 002.00 X 10900 0 0 Richard Audet Director 002.00 X 6150 0 0 James Crosby Director 002.00 X 4750 0 0 Parker Capwell Director 002.00 X 950 0 0 976529 4 false true false D3 Logic Inc 2220 Plainfield Pike Cranston RI 02921 Statement preparation and mailing 288533 United Health Care PO Box 94017 Palantine IL 60094 iNSURANCE 370703 Cusomized Service Concepts 18 Cote Avenue Gulftown NH 03045 Data Processing 196839 FiServ 455 Winding Brook Road Glastonbury CT 02854 Software and Support 523312 Sinclair Broadcast Group PO Box 206270 Dallas TX 75320 Television 5 Interest and fees on loans 522291 10218618 10218618 Other fees and charges 900099 2192918 2192918 Sale of consumer mortgages 522291 2676995 2676995 Other operating income 531120 2071 2071 15074444 396648 396648 22560 22450 110 110 15471202 15471092 0 0 0 0 976529 976529 0 2198560 2198560 188424 188424 457367 457367 246127 246127 0 5584 5584 152110 152110 0 0 0 334900 334900 710283 710283 0 0 803756 803756 28464 28464 0 0 3226372 3226372 0 467368 467368 102120 102120 Allowance for Loan Losses 136029 136029 Equipment Maint and Leasing 603022 603022 Collection and OREO expenses 414717 414717 IT Services 705145 705145 692865 692865 12449742 12449742 32956657 44046302 23533174 17434130 223840474 250638922 561198 582432 13499835 8540906 4675270 4958929 4603483 5341320 290170256 323002035 405845 430902 20000000 20000000 241554061 271285995 261959906 291716897 X 28210350 31285138 28210350 31285138 290170256 323002035 3021460 53328 X false true X true false false 1242403 1242403 7911249 4693621 3217628 4346183 3847285 498898 4958929 Financial derivatives and other financial products Closely-held equity interests Federal income taxes Member Deposits 271285995 Accrued Interest Payable 271285995 X false false false David L Root President/CEO Ginnie Sosnicki COO Thomas Carroll Mortgage Lending Form 990, Part III, Line 4 Interest on loans allows credit union to provide low cost financial services to its members Form 990, Part VI, Section b, Line 11 The Board of Directors reviews the Form 990 prior to its filing Form 990, Part VI, Section b, Line 15 The compensation committee of the Board of Directors approves the CEO bonus annually. Compensation is set via a contract with the CEO. Form 990, Part VI, Section C, Line 19 The Credit Unions financial statements are posted montly in each branch and provided at the annual meeting. Copies of all policies are available to members upon request.