2016-11-14T15:01:33-06:00 2015-12-31 472604526 GARVEY STEELE & COMPANY LLP PO BOX 397 MYSTIC CT 063552938 990 2015-01-01 050254228 GREENWOOD CREDIT UNION INC GREE 4017394600 2669 POST ROAD WARWICK RI 02886 JAMES IRVING CEO/DIRECTOR 4015622700 2016-08-12 true MICHAEL R GARVEY CPA P00264137 8605369831 2016-11-14 2015 2017-02-10 21:41:12Z JAMES IRVING 2669 POST ROAD WARWICK RI 02886 15828563 false X WWW.GREENWOODCU.ORG X 1948 RI THE CREDIT UNION IS AN ASSOCIATION OWNED BY ITS MEMBER DEPOSITORS. INTEREST INCOME FROM LOANS AND INVESTMENTS ALLOW THE CREDIT UNION TO PROVIDE LOW COST FINANCIAL SERVICES TO ITS MEMBERS. 9 9 78 0 0 13837935 14393519 1369108 1435044 0 15207043 15828563 0 0 4444160 4605759 0 0 8720912 9083015 13165072 13688774 2041971 2139789 411192226 427424983 374183469 388276437 37008757 39148546 THE CREDIT UNION IS AN ASSOCIATION OWNED BY ITS MEMBER DEPOSITORS. INTEREST INCOME FROM LOANS AND INVESTMENTS ALLOW THE CREDIT UNION TO PROVIDE LOW COST FINANCIAL SERVICES TO ITS MEMBERS. false false INVESTMENT INCOME FROM LOANS AND INVESTMENTS PROVIDE FUNDS NECESSARY TO PROVIDE LOW COST FINANCIAL PRODUCTS TO MEMBER OWNERS. false false false false false false false true false true false false false true false true 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 true 41 0 true 78 true false false false false false false X 9 9 false false false false true true false true true false true true true true true true false true true true false X X GREENWOOD CREDIT UNION GREENWOOD CREDIT UNION 4017394600 2669 POST ROAD 2669 POST ROAD WARWICK RI 02886 JAMES IRVING CEO/DIRECTOR 40.00 X X 277619 0 74555 MARIANNE VARATTA SENIOR VP/DI 40.00 X 125046 0 44611 WILLIAM WALASKA CHAIRMAN/DIR 4.00 X X 28500 0 0 THOMAS AHERN V CHAIR/DIRE X X 25950 0 0 JOHN BAMFORD TREASURER/DI 2.00 X X 24950 0 0 KAREN SD GRANDE ESQ SECRETARY/DI 2.00 X 24400 0 0 PETER D'ORSI JR ASST SEC/DIR 2.00 X X 20650 0 0 ANTHONY MAROUCHOC DIRECTOR 2.00 X 11950 0 0 KATHLEEN HITTNER MD DIRECTOR 2.00 X 10900 0 0 SANDRA POWELL DIRECTOR 2.00 X 800 0 0 JOSEPH LAJOIE CFO/SR VP 40.00 X 172067 0 18389 LARS FARNHAM VP INDIRECT 40.00 X 128254 0 19619 HOLLY FERRARA VP COMM LEND 40.00 X 125464 0 23030 976550 180204 6 false true false LEE MASON PO BOX 270 NORTHVILLE NY 12134 1127614 FISERV PO BOX 99924 GRAPEVINE TX 76099 842622 BLUE CROSS PO BOX 1057 444 WESTMINSTER ST PROVIDENCE RI 02901 604979 CYBERSTATE 63 BLEACHERY CT WARWICK RI 02886 215748 D3 LOGIC INC 89 COMMERCIAL WAY E PROVIDENCE RI 02914 MARKETING 175209 5 INTEREST ON LOANS 12000653 12000653 MEMBER SERVICE FEES 1866663 1866663 GAIN ON SALE OF LOANS 490717 490717 GAIN ON SALE OF ASSETS 35486 35486 14393519 1435044 1435044 15828563 15828563 4605759 511412 409819 4269754 345944 OPERATIONS EXPENSE 2056185 DATA PROCESSING EXPENSE 1488401 PROVISION FOR LOAN LOSSES 1500 13688774 0 0 0 2293861 3308381 4773585 3946618 296120539 337201396 344046 372710 8503342 5243464 3192889 3259878 86509491 59366347 17957815 19969653 411192226 427424983 28798371 28488686 860181 1108532 344524917 358679219 374183469 388276437 X 37008757 39148546 37008757 39148546 411192226 427424983 2139789 X false true X true false false false 316913 316913 4425376 2407692 2017684 2661075 2269775 391300 1099978 565997 533981 3259878 MEMBERS' SAVINGS ACCOUNTS 246193755 MEMBERS' SHARE ACCOUNTS 112485464 358679219 15828563 15828563 15828563 13688774 13688774 13688774 X true true X false false false JAMES IRVING CEO/DIRECTOR 229169 30000 18450 42000 32555 352174 MARIANNE VARATTA SENIOR VP/DIRECTOR 92596 20000 12450 24000 20611 169657 JOSEPH LAJOIE CFO/SR VP 142267 25000 4800 8610 9779 190456 SCHEDULE J, PART III A BUDGET FOR COMPANION TRAVEL TO CONFERENCES AND SEMINARS IS APPROVED BY THE MEMBERS EACH YEAR AT THE ANNUAL MEETING. FORM 990, PAGE 6, PART VI, LINE 6 THE CREDIT UNION IS OWNED BY ITS MEMEBER DEPOSITORS. FORM 990, PAGE 6, PART VI, LINE 7A THE BOARD MEMBERS ARE ELECTED DURING ANNUAL MEETINGS FOR THE TERM OF 3 YEARS. VACANCY OCCURING BETWEN ANNUAL MEETINGS IS FILLED BY THE VOTE OF THE MAJORITY OF THE DIRECTORS. DIRECTORS SO APPOINTED HOLD OFFICE UNTIL NEXT ANNUAL MEETING. THE BOARD ELECTS A CHAIRPERSON, A PRESIDENT AND A VICE- PRESIDENT. FORM 990, PAGE 6, PART VI, LINE 11B FORM 990 IS PROVIDED TO MANAGEMENT FOR APPROVAL PRIOR TO SUBMISSION. THE BOARD OF DIRECTORS MAY REVIEW THE FORM 990 AT THE MEETING SUBSEQUENT TO THE FILING DATE. FORM 990, PAGE 6, PART VI, LINE 12C THE SUPERVISORY COMMITTEE MONITORS THE BOARD OF DIRECTORS TO ASSURE COMPLIANCE WITH CREDIT UNION POLICY AND ADHERENCE TO RHODE ISLAND GENERAL LAW GOVERNING CREDIT UNION OPERATIONS. FORM 990, PAGE 6, PART VI, LINE 15A THE BOARD APPROVES ANNUALLY THE COMPENSATION AWARDED TO THE KEY OFFICERS AND EMPLOYEES OF THE CREDIT UNION. FORM 990, PAGE 6, PART VI, LINE 15B THE BOARD APPROVES ANNUALLY THE COMPENSATION AWARDED TO THE KEY OFFICERS AND EMPLOYEES OF THE CREDIT UNION. FORM 990, PAGE 6, PART VI, LINE 19 THE CREDIT UNION'S FINANCIAL RESULTS ARE POSTED AT THE BRANCH ON A MONTHLY BASIS. POLICIES ARE AVAILABLE TO MEMBERS UPON REQUEST.