2019-05-20T11:07:41-00:00 2018-12-31 Root & Associates 701 Winthrop St 115 Taunton MA 02780 990 2018-01-01 050263842 Ocean State Credit Union COVE 4013971900 2006 Nooseneck Hill Road Coventry RI 02816 David Root CEO CEO 4014874417 2019-05-20 true David Root 4014874417 2019-05-20 X 72.92.227.75 2019-06-18 14:40:29 ED P EC4873EEA6EAF0E85F39C29ECDF01DB5610CAC76 EC4873EEA6EAF0E85F39C29ECDF01DB5610CAC76 2018 2019-02-21 02:37:17Z David Root 2006 Nooseneck Hill Road Coventry RI 02816 12318962 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 22560 -9890 0 11236892 11784977 592362 533985 22560 0 11851814 12318962 0 0 3731106 3820619 0 0 6539313 6665704 10270419 10486323 1581395 1832639 248426040 270458405 223741748 243959379 24684292 26499026 To provide low cost financial services to member depositors. false false 10453873 12318962 Interest and fees on loans and investments allow the Credit Union to provide low cost financial services to its members. 10453873 false false false false false false false false false true false false false true false 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 false false false true 7048 0 true 66 true true true false 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 Roger JLaliberte Chairman 002.00 X 9000 0 0 Michael D Airhart Vice Chairman 002.00 X 9000 0 0 Bruce B Hecker Secretary 002.00 X 9000 0 0 Leo R Blais Director 002.00 X 7700 0 0 Robert H McGuire Director 002.00 X 7700 0 0 Paul E Skaling Director 002.00 X 8400 0 0 Richard Audet Director 002.00 X 8400 0 0 William A Sheldon Director 002.00 X 9000 0 0 Richard P Sullivan Director 002.00 X 8400 0 0 Therese S Stafford Director 002.00 X 8400 0 0 James Rowe Treasurer 002.00 X 9000 0 0 Gerard R Cayer Director 002.00 X 8400 0 0 David L Root President/CEO 040.00 X X 330000 0 44100 Ginnie Sosnicki COO 040.00 X 134300 0 0 Thomas Carroll Mortgage Originator 040.00 X 112522 0 0 679222 44100 3 false true false D3 Logic Inc 2220 Plainfield Pike Cranston RI 02921 Statement preparation and mailing 186135 Coventry Tax Collector Town Hall Coventry RI 02816 Property Taxes 148079 NES Group 903 S Main Street Mansfield MA 02048 Construction 154046 FiServ 455 Winding Brook Road Glastonbury CT 02854 Software and Support 380177 Sinclair Broadcast Group PO Box 206270 Dallas TX 75320 Television 134625 5 Interest and fees on loans 522291 8951072 8951072 Other fees and charges 900099 2302287 2302287 Sale of consumer mortgages 522291 222539 222539 Other operating income 531120 309304 309304 22560 22560 11784977 533985 533985 12318962 12296402 22560 0 0 0 0 723322 723322 0 2331479 2331479 132000 132000 410968 410968 222850 222850 0 25747 25747 138695 138695 0 0 0 285976 285976 626101 626101 1222565 1222565 0 597335 597335 130247 130247 0 73337 73337 1718613 1718613 0 409026 409026 121682 121682 Allowance for Loan Losses 6782 6782 Equipment Maint and Leasing 644099 644099 Collection and OREO expenses 321968 321968 Postage 145471 145471 198060 165610 32450 10486323 10453873 32450 2893216 2180897 27127602 27964370 207964626 228903471 583749 502296 12418813 7671205 4878346 4747608 4978501 6159763 248426040 270458405 206253 538995 5000000 20000000 218535495 223420384 223741748 243959379 X 24684292 26499026 24684292 26499026 248426040 270458405 1832639 -17905 X false X true X true false true false 1242403 1242403 7359470 4154228 3205242 3816940 3516977 299963 4747608 Financial derivatives and other financial products Closely-held equity interests Federal income taxes Member Deposits 223420384 Accrued Interest Payable 223420384 false true X X false false false false false false false false false David L Root President/CEO 300000 30000 36600 7500 374100 Form 990, Part VI, Section B, Line 11A The Form 990 is reviewed by the Board of Directors prior to its filing. Form 990, Part VI, Section B, Line 12 The Supervisoy Committee regularly monitors Board activity for possible conflicts of interest and activities prohibited by Rhode Island and federal laws governing credit unions. Form 990, Part VI, Section B, Line 15 The CEOs salary is approved by the Board via a written contractual agreement. Board and Committee compensation is approved by the members at the Annual Meeting.