2018-05-01T10:34:06-05:00 2017-12-31 010523282 Berry Dunn McNeil & Parker LLC PO Box 1100 Portland ME 041041100 990 2017-01-01 050198580 People's Credit Union PEOP 4018468930 858 West Main Road Middletown RI 02842 Ellen Ford President & CEO 4018468930 2018-04-30 1 Joseph R Byrne CPA P01289281 2077752387 2018-04-30 2017 2022-09-23 18:48:47Z Ellen Ford 858 West Main Road Middletown RI 02842 21987339 0 X www.peoplescu.com X Cooperative Financial Institution 1922 RI State chartered credit union 9 9 136 0 50433 41612 0 0 19300344 20818962 781096 746081 0 0 20081440 21565043 0 0 0 0 7706563 7864610 0 0 0 9992046 10505515 17698609 18370125 2382831 3194918 458960691 460751260 417231797 415585626 41728894 45165634 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 12,862 loans to members. The outstanding loan balance at 12/31/17 was $393,523,764. People's maintains savings accounts for members. Total outstanding savings accounts at 12/31/17 was 30,393 for $257,586,733. People's maintains demand deposit accounts for members. Total outstanding demand deposit accounts at 12/31/17 was 19,692 for $120,495,627. People's offers safe deposit boxes to members. The number of safe deposit boxes rented is 1,206. 0 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 1 3848 0 1 136 1 1 1 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 Sean Daly 4018468930 858 West Main Road Middletown RI 02842 Louann Lawrence Chair 1.00 X X 14800 0 0 Edward T Lopes Jr Vice Chair 1.00 X X 12400 0 0 William L Douglas Jr Treasurer 1.00 X X 12800 0 0 Christopher S Ottiano MD Secretary 1.00 X X 12400 0 0 Alyson Adkins Director 1.00 X 10400 0 0 William Dennis Director 1.00 X 10000 0 0 David F Faucher Director 1.00 X 10800 0 0 Terri Marcucci Fitch Director 1.00 X 10400 0 0 Thomas Vignali Director 1.00 X 10800 0 0 Ellen N Ford President & CEO 40.00 X 406674 0 37465 Amy Martel EVP & COO 40.00 X 211610 0 13541 Sean Daly EVP & CFO 40.00 X 116448 0 3175 Lynette Dawley VP Lending 40.00 X 120294 0 30534 Kari Reardon Mortgage Loan Officer 40.00 X 126910 0 8017 Jane McDurman VP Retail & Member Experience 40.00 X 109462 0 16283 Christopher Eden VP IT & Operations 40.00 X 107031 0 20494 1303229 0 129509 7 0 1 0 COCC Inc 100 Executive Blvd Southington CT 06489 Data Processing Services 1276392 US Banccorp DBA Elan 4 Station Square Ste 620 Pittsburgh PA 15219 ATM & Debit Card Services 495446 John M Floyd & Associates Inc 125 N Burnett Dr Baytown TX 77520 Banking Consulting Services 172165 WJAR TV PO Box 206270 Dallas TX 75320 Marketing & Advertising 167100 Wolf & Company 99 High St Boston MA 02110 Internal Audit & Compliance 148867 11 Loan Interest 522100 16507423 16507423 Fee & Service Income 522100 4311539 4261106 50433 20818962 679975 679975 16924 471478 0 422296 16924 49182 66106 66106 21565043 20768529 50433 746081 893713 5106585 329285 1036859 498168 48799 202998 399469 788528 57406 1661310 36581 233135 2043037 728944 138204 Bad Debt Expense 1896487 Miscellaneous Expenses 1444789 ATM Debit Expense 815262 UBI Tax 10566 18370125 X 13947265 22754467 590051 697642 392353701 386742618 798902 805894 22444210 10612943 12339524 11831267 21917188 19887598 3565500 4586900 3183756 3175113 10264804 10269761 458960691 460751260 4479499 5144988 45197129 33646350 367555169 376794288 417231797 415585626 X 0 0 0 0 41728894 45165634 41728894 45165634 458960691 460751260 X 3194918 175206 66616 X 0 1 X 1 0 3519847 3519847 14117435 6250064 7867371 13245 10111 3134 4789983 4352768 437215 3700 3700 11831267 Deposits 376794288 376794288 21806865 175206 66616 241822 21565043 0 21565043 18370125 0 18370125 0 18370125 Part XI, Line 2d - Other Adjustments: Unrealized Gain on Post Retirement Plans 66,616. X 1 1 X X 0 0 0 Ellen N Ford President & CEO 336993 0 34389 0 35292 0 35130 0 2335 0 444139 0 0 0 Amy Martel EVP & COO 177463 0 11569 0 22578 0 12241 0 1300 0 225151 0 0 0 Lynette Dawley VP Lending 113443 0 6028 0 823 0 14966 0 15568 0 150828 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 11b The Form 990 is reviewed by the CFO and by the Board of Directors. 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. The Organization also makes its governing documents and conflict of interest policy available to public upon request. Form 990, Part X, Line 10: Land, Buildings, and Equipment Section 1.263(a)-3(n) Election: People's Credit Union 858 West Main Road Middletown, RI 02842 EIN 05-0198580 People's Credit Union is electing to capitalize repair and maintenance costs under Regulation Section 1.263(a)-3(n). Form 990, Part XI, line 9: Unrealized Gain on Post Retirement Plans 66,616.