Dec, 31, 2023 — THE PEOPLES CREDIT UNION is a federally insured state chartered credit union headquartered in MIDDLETOWN, RI with 6 branch locations and about $717.58 million in total assets. Opened 102 years ago in 1922, THE PEOPLES CREDIT UNION has about 40,170 members and employs 123 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | THE PEOPLES CREDIT UNION |
|---|---|
| Address: (Main Office) | 858 W Main Rd MIDDLETOWN, RI 02842 |
| Phone: | (401) 846-8930 |
| Fax: | (401) 846-1210 |
| Website: | https://www.peoplescu.com |
| Branches: | 6 branch locations |
| Members: | 40,170 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 65861 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1922 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $717,579,087 |
| CEO/Manager: | Sean G Daly |
| Chairperson: | Christopher S Ottiano |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 22,384,488 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 434,432,930 |
| Unsecured Loans | 4,033,275 |
| Other Loans | 134,841,260 |
| TOTAL LOANS | 573,307,476 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -2,286,128 |
| Land And Building | 15,396,574 |
| Other Fixed Assets | 1,338,222 |
| NCUSIF Deposit | 5,151,436 |
| All Other Assets | 0 |
| TOTAL ASSETS | 717,579,087 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 19,901 |
| Notes & Interest Payable | 84,000,000 |
| Accounts Payable & Other Liabilities | 10,472,834 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 192,071,633 |
| Regular shares | 152,065,390 |
| All Other Shares & Deposits | 213,726,505 |
| TOTAL SHARES & DEPOSITS | 557,863,529 |
| TOTAL LIABILITIES | 652,360,975 |
| Regular Reserve | 0 |
| Other Reserves | -2,066,742 |
| Undivided Earnings | 67,284,854 |
| TOTAL EQUITY | 65,218,112 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 717,579,087 |
| INCOME & EXPENSE | |
| Loan Income | 22,206,281 |
| Investment Income | 2,093,810 |
| Other Income | 2,735,374 |
| Total Employee Compensation & Benefits | 10,289,682 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 10,719,943 |
| Non-operating Income & (Expense) | 64 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -277,042 |
| Cost of Funds | 8,075,004 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,455,783 |
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