Jun, 30, 2024 — THE PEOPLES CREDIT UNION is a federally insured state chartered credit union headquartered in MIDDLETOWN, RI with 6 branch locations and about $686.08 million in total assets. Opened 103 years ago in 1922, THE PEOPLES CREDIT UNION has about 41,197 members and employs 120 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: | 41,197 |
| 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, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $686,084,464 |
| CEO/Manager: | Sean G Daly |
| Chairperson: | Christopher S Ottiano |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 25,028,659 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 431,621,018 |
| Unsecured Loans | 4,572,462 |
| Other Loans | 108,392,464 |
| TOTAL LOANS | 544,585,944 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -3,367,021 |
| Land And Building | 14,293,543 |
| Other Fixed Assets | 1,305,922 |
| NCUSIF Deposit | 5,005,265 |
| All Other Assets | 23,600 |
| TOTAL ASSETS | 686,084,464 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 204 |
| Notes & Interest Payable | 55,600,000 |
| Accounts Payable & Other Liabilities | 6,280,803 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 239,260,469 |
| Regular shares | 204,652,665 |
| All Other Shares & Deposits | 123,555,354 |
| TOTAL SHARES & DEPOSITS | 567,468,488 |
| TOTAL LIABILITIES | 629,349,495 |
| Regular Reserve | 0 |
| Other Reserves | -7,238,962 |
| Undivided Earnings | 63,973,931 |
| TOTAL EQUITY | 56,734,969 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 686,084,464 |
| INCOME & EXPENSE | |
| Loan Income | 13,200,756 |
| Investment Income | 1,194,880 |
| Other Income | 2,025,154 |
| Total Employee Compensation & Benefits | 7,606,573 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 6,928,928 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 335,000 |
| Cost of Funds | 633,780 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 3,506,338 |
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