2015-03-27T02:31:07-00:00 2014-12-31 Root & Associates 1929 Horton Street North Dighton MA 02764 990 2014-01-01 050263842 Coventry Credit Union COVE 4013971900 2006 Nooseneck Hill Road Coventry RI 02816 David Root CEO CEO 2015-03-27 true David Root 5086696476 2015-03-27 X 2014 2016-03-07 17:11:31Z David Root 2006 Nooseneck Hill Road Coventry RI 02816 11124509 false X Coventrycu.org X Credit Union 1950 RI The Credit Union is a co-operative owned by its member depositors. Income relaized from investment and loan activities enable the Credit Union to provide low cost financial services to its members. 12 12 74 0 -21101 0 11032755 10518760 538322 605749 0 11571077 11124509 0 0 3780337 3629078 0 0 6917923 6893877 10698260 10522955 872817 601554 229968547 232012055 209759603 211265569 20208944 20746486 To provide low cost financial services to member depositors. false false 10522955 Interest and fees on loans and investments allow the Credit Union to provide low cost financial services to its members. 10522955 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 false false false false false false false false false false false false false false false false false false true 10476 0 true 74 true true true 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 Thomas F Lacolle Treasurer 002.00 X 0 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 Scaling Director 002.00 X 7700 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 Director 002.00 X 9000 0 0 Gerard R Cayer Director 002.00 X 8400 0 0 David L Root President/CEO 040.00 X 300000 0 34000 Denise Warburton VP Mortgage Lending 040.00 X 107858 0 0 Ginnie Sosnicki COO 040.00 X 114370 0 0 623928 34000 3 false false false D3 Logic Inc 2220 Plainfield Pike Cranston RI 02921 Statement preparation and mailing 243242 National Grid 300 Erie Blvd Syracuse NY 13202 Utilities 96706 Verizon PO Box 1100 Albany NY 12250 Telephone 119050 FiServ 455 Winding Brook Road Glastonbury CT 02854 Software and Support 250349 Mutual Properties Inc 1 James Murphy Highway West Warwick RI 02826 Rent 161658 5 Interest and fees on loans 522291 7329319 7329319 Other fees and charges 900099 2785221 2785221 Sale of consumer mortgages 522291 339930 339930 Gain on sale of assets 522291 26659 26659 Rental income and insurance premiums 531120 37631 37631 10518760 605749 605749 11124509 11124509 0 0 0 0 119200 119200 0 2514004 2514004 120000 120000 434886 434886 440988 440988 0 35156 35156 115201 115201 0 0 0 204805 204805 603334 603334 610838 610838 0 664055 664055 69755 69755 0 0 1778541 1778541 0 534695 534695 94683 94683 Allowance for Loan Losses 479288 479288 Equipment Maint and Leasing 563726 563726 Collection and OREO expenses 390080 390080 Deposit Taxes 77459 77459 672261 672261 10522955 10522955 10069704 13058293 34567086 29858844 174659433 179078542 509581 466446 10854626 5991873 5070372 4862753 5092371 4687177 229968547 232012055 217784 206481 19000000 19000000 190541819 192059088 209759603 211265569 X 20208944 20746486 20208944 20746486 229968547 232012055 601554 -64012 X false true X true false false 1242403 1242403 6379793 3352525 3211167 3232430 2966425 409183 4862753 Financial derivatives and other financial products Closely-held equity interests Federal income taxes Member Deposits 191958155 Accrued Interest Payable 100933 192059088 Form 990, Part VI, Section A, Line 6 and 7 The Credit Union is owned by its member depositors. Members elect members of the Board of Directors at the Annual Meeting and ratify all Board actions at that time. Form 990, Part VI, Section A, Line 8 The Board of Directors meets monthly. Minutes of the meetings of the Board, Committees and the Annual Meeting are taken and retained by the Credit Union. Form 990, Part VI, Section B, Line 11 The Form 990 is reviewed by management prior to its filing and is reviewed and approved by the Board at its subsequent meeting. Form 990, Part VI, Section 12, Line A The Supervisory Committee regularly monitors Board activity for possible conflicts of interest and activities prohibited by Federal and Rhode Island laws governing Credit Union. Form 990, Part VI, Section B, Line 15 The CEOs salary is approved by the Board via a written contractual agreement. Board and Committee members stipends are approved annually by the members at the Annual Meeting. Form 990, Part VI, Section C, Line 19 Financial statements are posted monthly after Board ratification at each branch office. Members may request copies of Credit Union policies at any time.