People's Credit Union

Nonprofit profile at a glance

EIN
050198580
IRS 990 coverage
2010–2025
Forms available
Form 990 2025, Form 990-N 2009
Location
Middletown, RI, USA
Phone
4018468930
Rating confidence
Limited

Official website

Reported finances

Revenue
$39,099,623
Expenses
$37,350,618
Assets
$807,987,071
Liabilities
$735,362,620

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

18 people listed

Highest reported compensation

  • Sean Daly (Head of People's Credit Union): $490,997 total reported compensation
  • William DeWitt (Head of Member Delivery & Marketing): $300,235 total reported compensation
  • Timothy Jermain (Head of Lending): $291,896 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

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.

What it reported doing in 2025

People's is a member-owned organization committed to providing superior financial services to the community. People's provided 16,260 loans to members. The outstanding loan balance at 12/31/25 was $653,577,173.

Operating model

Revenue model
Earned-program. 93% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 73
  • Accountability: 100
  • Sustainability: 55
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 9th percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 75.1%; rating input score 75; 21st percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 4.5%; rating input score 42; 42nd percentile among comparable filings
  • Total-asset coverage ratio: 21.63; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0.91; rating input score 6; 6th percentile among comparable filings
  • Officer compensation ratio: 5.7%; rating input score 52; 52nd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 5.3% per year; rating input score 100; 43rd percentile among comparable filings
  • Asset growth: 5.7% per year; rating input score 100; 39th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 11 of 11 board members independent · 9 of 9 filing controls reported
  • Programs: 4 filed program accomplishments
  • Leadership: top reported pay $491K · 18 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $3.7M reported
  • Consistency: 13 of 14 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes grants, executive pay, and related organizations
  • Filing history: 16 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Money network: 27 filed money-flow records
  • Related organizations: 10 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Sustainability: Operating margin scored 42/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 6/100.
  • Review — Sustainability: Officer compensation ratio scored 52/100.