NonprofitsOcean State Credit Union

Ocean State Credit Union

COVENTRY, RI

Total revenue

$17.5M

Total expenses

$16.5M

Net assets

$38.9M

Grants received

EIN

050263842

Tax year

2024

Mission

To provide high quality, low cost financial services to its members

Financials

FY 2024

Revenue

Contributions & grants
Program service revenue$15.8M
Investment income$1.7M
Other revenue
Total revenue$17.5M

Expenses

Grants paid
Salaries & benefits$5.1M
Fundraising
Other expenses$11.4M
Total expenses$16.5M
Total assets$343.7M
Net assets$38.9M

People

16 listed

NameRoleCompensation

David L Root

CEO Retired

Board

$635K

40 hrs/wk

Michael R Garvey CPA

CEO

Board

$290K

39 hrs/wk

Michael Airhart

Chairman

Board

$16K

2 hrs/wk

William A Shedon

First Chair

Board

$14K

2 hrs/wk

Bruce B Hecker

Second Chair

Board

$14K

2 hrs/wk

James Rowe

Treasurer

Board

$14K

2 hrs/wk

Paul E Skaling

Secretary

Board

$13K

2 hrs/wk

Leo R Blais

Director

Board

$12K

2 hrs/wk

Parker Capwell

Director

Board

$12K

2 hrs/wk

Gerard R Cayer

Director

Board

$12K

2 hrs/wk

James Crosby

Director

Board

$12K

2 hrs/wk

Therese S Stafford

Director

Board

$12K

2 hrs/wk

Robert H McGuire

Director

Board

$10K

2 hrs/wk

Richard P Sullivan

Director

Board

$7K

2 hrs/wk

Melissa Giroux

COO/Compliance Risk Officer

Staff

$165K

40 hrs/wk

Claudia Flanagan

Director Consumer Lending

Staff

$114K

40 hrs/wk

Independent contractors

FiServ

Core and other software systems

$953K

NCR Voyix

Software

$290K

Vinyl Concepts

Building repairs/maintenance

$231K

D3 Logic

Printing/Mailing

$202K

Customized Service Concepts

ATM services

$202K

Details

EIN050263842
Subsection14
Ruling date1994-03
Formed1950
Employees77
OCEAN STATE CREDIT UNION — Mission, Financials & Grants Received | Grantivo