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Compensation 990 is an independent service that uses public IRS Form 990 filings as its source data. We clean and standardize this information, but the original filings may contain errors or omissions. Years on this site refer to the organization’s fiscal year end date on the filing.

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Organizations Ocean State Credit Union

Ocean State Credit Union

Fiscal year ending 2021. Filed on October 18, 2022.

2006 Nooseneck Hill Road
Coventry, Rhode Island 02816

Ocean State Credit Union (EIN: 05-0263842) has filed an IRS Form 990 between fiscal years 2016 and 2024. In its fiscal year 2021 IRS Form 990 filing, Ocean State Credit Union, a 501(c)(14) state-chartered credit union or mutual reserve fund, reported compensation for 4 out of 66 total employees. Among the employees shown here, the average compensation is $203,015. The highest compensated employee at Ocean State Credit Union is David L Root with fiscal year 2021 compensation of $330,000.

Revenue, expenses, and employee compensation

Revenue

$14,903,508

Expenses

$11,224,786

Employee compensation

$4,127,557
Revenue, expenses, and employee compensation over time

Reported Compensated Employees

David L Root
President and Chief Executive Officer
$330,000
$330,000 No related compNo other comp
Thomas Carroll
Mortgage Lending
$201,718
$201,718 No related compNo other comp
Ginnie Sosnicki
Chief Operating Officer
$173,738
$173,738 No related compNo other comp
Claudia Flanagan
Consumer Lending
$106,603
$106,603 No related compNo other comp

Benchmark Employee Compensation

Non-Employee Board Members

Michael Airhart
Chair
$15,600
$15,600 No related compNo other comp
Paul E Skaling
Director
$12,600
$12,600 No related compNo other comp
James Rowe
Treasurer
$12,600
$12,600 No related compNo other comp
William A Sheldon
Director
$12,600
$12,600 No related compNo other comp
Bruce B Hecker
Secretary
$12,600
$12,600 No related compNo other comp
Gerard R Cayer
Director
$11,400
$11,400 No related compNo other comp
Robert H McGuire
Director
$11,400
$11,400 No related compNo other comp
Therese S Stafford
Director
$11,400
$11,400 No related compNo other comp
James Crosby
Director
$11,400
$11,400 No related compNo other comp
Richard P Sullivan
Director
$11,400
$11,400 No related compNo other comp
Parker Capwell
Director
$11,400
$11,400 No related compNo other comp
Leo R Blais
Director
$10,450
$10,450 No related compNo other comp

Contractors

FiServ
Software and Support
$723,156
United Health Care
Insurance
$382,239
D3 Logic Inc.
Statement Preparation and Mailing
$198,699
Windstream
Internet
$154,147
State of Rhode Island
Deposit Taxes
$133,424

Mission Statement

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

Revisions to this organization profile

October 28, 2025:
2024 Ocean State Credit Union 990 filed
November 7, 2024:
2023 Ocean State Credit Union 990 filed
October 17, 2023:
2022 Ocean State Credit Union 990 filed

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