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Overview / Commentary
401-846-8930
858 W Main Rd
Middletown, RI 02842

People's Credit Union is headquartered in Middletown and is the 4th largest credit union in the state of Rhode Island. It is also the 574th largest credit union in the nation. It was established in 1922 and as of March of 2014, it had grown to 107 employees and 29,427 members. People's Credit Union has a A+ health rating.

Field of Membership Restrictions

Membership in People's Credit Union is available to corporations, partnerships, sole proprietorships, voluntary associations, fraternal organizations, trusts, limited liability companies and individuals regardless of residence or occupation. - See Details

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Health

Data for Q1 2014

Institution Health

A+

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 People's Credit Union had $2.99 million in non-current loans and owned real-estate with $44.69 million in equity and loan loss allowances on hand to cover it. This gives People's Credit Union a Texas Ratio of 6.70% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
B+

The Texas Ratio for People's Credit Union decreased slightly from 8.91% as of March 31, 2013 to 6.70% as of March 31, 2014, resulting in a positive change of 24.88%.This indicates that the balance sheet and financial strength for People's Credit Union has improved slightly in recent periods.

Deposit Growth

GRADE:
A+

In the past year, People's Credit Union has increased its total deposits by $16.37 million, resulting in 5.33% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth People's Credit Union has shown is excellent.

Capitalization

GRADE:
A

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. People's Credit Union has $387.57 million in assets with $44.69 million in equity, resulting in a capitalization level of 11.53%, which is excellent.

Institution Statistics

Overall
NCUA #65861
Year Chartered1922
Employees107
Primary Regulator
Assets and Liabilities
Assets$387.57 million
Loans$303.40 million
Deposits$323.66 million
Equity Capital$40.90 million
Loan Loss Allowance$3.79 million
Unbacked Noncurrent Loans$2.81 million
Real Estate Owned$187,000
Historic Data - March 2013
Assets$375.39 million
Equity Capital$39.38 million
Loan Loss Allowance$3.43 million
Unbacked Noncurrent Loans$2.81 million
Real Estate Owned$655,000
Profit Margin - Quarterly
Net Interest Margin1.12%
Return on Assets0.25%
Return on Equity2.36%
Interest Income$3.53 million
Rates

Always verify rates and promotions with the bank or credit union. We are not People's Credit Union, we are a rate comparison website and can not provide official rates or promotions.

People's Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.25%$50k-Personal Premium Savings
0.10%$50k-Business Premium Savings
0.05%$100-Business Savings
0.05%$100-IRA Account
0.05%--Holiday Club Account
0.05%--Basic Savings
0.05%$100-Roth IRA Account
0.05%$100-Coverdell Education Savings Account

People's Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.25%$75k-Business Money Market
0.25%$75k-Personal Money Market

People's Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.05%--Interest Checking
0.05%--Business Interest Checking

People's Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
2.00%$500-60 Month CD
2.00%$500-Business 60 Month CD
1.50%$500-48 Month CD
1.50%$500-Business 48 Month CD
1.05%$500-36 Month CD
1.05%$500-Business 36 Month CD
0.70%$500-24 Month CD
0.70%$500-Business 24 Month CD
0.55%$500-18 Month CD
0.55%$500-Business 18 Month CD
0.35%$500-12 Month CD
0.35%$500-Business 12 Month CD
0.30%$500-9 Month CD
0.30%$500-Business 9 Month CD
0.20%$500-6 Month CD
0.20%$500-Business 6 Month CD
0.15%$500-3 Month CD
0.15%$500-4 Month CD
0.15%$500-Business 3 Month CD
0.15%$500-Business 4 Month CD

People's Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
2.00%$500-60 Month IRA
1.50%$500-48 Month IRA
1.05%$500-36 Month IRA
0.70%$500-24 Month IRA
0.55%$500-18 Month IRA
0.35%$500-12 Month IRA
0.30%$500-9 Month IRA
0.20%$500-6 Month IRA
0.15%$500-3 Month IRA
0.15%$500-4 Month IRA
Locations


People's Credit Union Locations
Branch Office43 Memorial BlvdNewport, RI 02840
Branch Office150 Old Tower Hill RdWakefield, RI 02879
Branch Office50 Gooding AveBristol, RI 02809
Branch Office7490 Post RdN Kingstown, RI 02852
Branch Office2537 E Main RdPortsmouth, RI 02871
Branch Office858 W Main RdMiddletown, RI 02842