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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 2024. Filed on October 28, 2025.

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 2024 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 77 total employees. Among the employees shown here, the average compensation is $300,815. The highest compensated employee at Ocean State Credit Union is David L Root with fiscal year 2024 compensation of $634,519.

Revenue, expenses, and employee compensation

Revenue

$17,544,172

Expenses

$16,533,488

Employee compensation

$5,148,641
Revenue, expenses, and employee compensation over time

Reported Compensated Employees

David L Root
CEO Retired
$634,519
$634,519 No related compNo other comp
Michael R Garvey, Cpa
Chief Executive Officer
$289,876
$289,876 No related compNo other comp
Melissa Giroux
Coo/Compliance Risk Officer
$164,940
$164,940 No related compNo other comp
Claudia Flanagan
Director Consumer Lending
$113,926
$113,926 No related compNo other comp

Benchmark Employee Compensation

Non-Employee Board Members

Michael Airhart
Chair
$15,600
$15,600 No related compNo other comp
Bruce B Hecker
Second Chair
$13,650
$13,650 No related compNo other comp
William A Shedon
First Chair
$13,650
$13,650 No related compNo other comp
James Rowe
Treasurer
$13,650
$13,650 No related compNo other comp
Paul E Skaling
Secretary
$12,600
$12,600 No related compNo other comp
James Crosby
Director
$12,350
$12,350 No related compNo other comp
Leo R Blais
Director
$12,350
$12,350 No related compNo other comp
Parker Capwell
Director
$12,350
$12,350 No related compNo other comp
Gerard R Cayer
Director
$12,350
$12,350 No related compNo other comp
Therese S Stafford
Director
$12,350
$12,350 No related compNo other comp
Robert H McGuire
Director
$10,450
$10,450 No related compNo other comp
Richard P Sullivan
Director
$6,650
$6,650 No related compNo other comp

Contractors

Fiserv
Core and Other Software Systems
$952,904
NCR Voyix Corporation
Software
$290,357
Vinyl Concepts
Building Repairs/Maintenance
$230,517
D3 Logic
Printing/Mailing
$201,798
Customized Service Concepts
ATM
$201,561

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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