Coastal1 Credit Union
501(c)(14)
Only null% goes to programs Strong reserves Growing revenue
Coastal1 Credit Union is a 501(c)(14) organization based in Pawtucket, Rhode Island, registered in 1951, with $157,722,319 in FY2024 revenue. CharityIndex grades it A.
1200 Central Ave, Pawtucket, RI, 02861 EIN 05-0197075 Since 1951
Revenue (FY2024)
$157.7M
▲ 15.0% vs prior year
Expenses (FY2024)
$149.1M
Net assets
$326.3M
Employees
341
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
—Program efficiency40% of the ratingNo expense breakdown in filings
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. Not scored for Coastal1 Credit Union— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
AFinancial health25% of the rating26 mo reserves · +5% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Coastal1 Credit Union: 26 mo reserves · +5% margin earns a A on this criterion. See the exact thresholds →
AGovernance25% of the rating5 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Coastal1 Credit Union: 5 of 6 checks met earns a A on this criterion. See the exact thresholds →
BTransparency10% of the rating3 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Coastal1 Credit Union: 3 of 5 disclosure signals earns a B on this criterion. See the exact thresholds →
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Mission
Coastal1 credit union is organized for the benefit of its members. the credit union is committed to serving the financial needs of its members.
Contact & location
- Address
- 1200 Central Ave, Pawtucket, RI, 02861
- City
- Pawtucket
- State
- Rhode Island
- Category
- —
- Subcategory
- —
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $60.7M (FY2013) to $157.7M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $3.0BNet assets $326.3M
Operating margin
5.5%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$3.3B
Total liabilities
$3.0B
Net assets
$326.3M
Salaries & benefits
$31.2M
21% of expenses
Board members
12
0 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $157,722,319▲15.0% | $149,070,531▲21.2% | $326,250,449▲2.5% | $3,342,555,316▲0.6% | 990 |
| 2023 | $137,130,775▲29.9% | $122,999,124▲66.6% | $318,171,435▲3.8% | $3,322,745,503▲6.1% | 990 |
| 2022 | $105,557,200▲14.8% | $73,835,056▲30.2% | $306,669,328▲6.0% | $3,132,689,831▲10.3% | 990 |
| 2021 | $91,925,616▼0.1% | $56,688,643▼21.0% | $289,343,921▲12.5% | $2,840,412,596▲7.0% | 990 |
| 2020 | $92,008,258▼1.0% | $71,765,315▼7.2% | $257,127,260▲9.1% | $2,654,417,449▲10.0% | 990 |
| 2019 | $92,968,318▲11.0% | $77,322,712▲18.4% | $235,679,580▲7.5% | $2,413,396,599▲4.2% | 990 |
| 2018 | $83,722,247▲15.2% | $65,305,659▲15.3% | $219,235,442▲9.2% | $2,316,022,211▲8.5% | 990 |
| 2017 | $72,652,510▲9.7% | $56,642,369▲9.1% | $200,808,656▲8.6% | $2,134,179,464▲9.3% | 990 |
| 2016 | $66,246,313▲3.7% | $51,919,737▲1.9% | $184,855,614▲8.1% | $1,952,363,580▲8.6% | 990 |
| 2015 | $63,883,034▲2.5% | $50,974,087▲4.1% | $171,045,968▲8.4% | $1,797,939,996▲7.3% | 990 |
| 2014 | $62,315,913▲2.6% | $48,945,218▲0.9% | $157,774,115▲9.4% | $1,675,053,139▲7.6% | 990 |
| 2013 | $60,713,786 | $48,507,652▼2.5% | $144,251,961▲9.7% | $1,556,571,716▲11.2% | 990 |
| 2012 | — | $49,742,782▼5.7% | $131,439,210▲9.4% | $1,399,273,704▲6.6% | 990 |
| 2011 | — | $52,724,955▼6.1% | $120,162,456▲6.4% | $1,312,255,891▲5.5% | 990 |
| 2010 | — | $56,166,636 | $112,908,607 | $1,243,663,243 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: Brian Azar — $719,670 (0.48% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Brian Azar | President/ceo | 40 | $719,670 |
| Valerie J Pimenta | Evp/cfo (retired 12/2024) | 40 | $427,543 |
| Jeffrey Kolarik | Svp/cio | 40 | $343,231 |
| Kevin Farrell | Svp/commercial Lending | 40 | $335,257 |
| Patricia Webb | Svp/residental & Retail Lendin | 40 | $302,195 |
| Donna Gregson | Evp Retail | 40 | $296,212 |
| Robert Gotti | Svp/business Development | 40 | $291,439 |
| Mark Mclaughlin | Vp/mortgage Origination | 40 | $275,958 |
| Kathleen Doherty | Senior Vice President | 40 | $268,063 |
| Ken Fredriksen | Evp/cfo (started 8/19/2024) | 40 | $125,610 |
| Ronald W Leclair | Chairman | 12 | $84,000 |
| Lynn Am Weinstein | Vice Chairman | 7 | $63,000 |
| John B Richer Jr | Treasurer | 7 | $60,500 |
| Paul F Lefebvre | Secretary | 7 | $60,500 |
| Kevin Tracey | Director | 5 | $34,570 |
| Dr Frank P Casarella | Director | 5 | $28,000 |
| John Z Luo Md | Director | 5 | $28,000 |
| Lawrence J Monastesse | Director | 5 | $28,000 |
| Linda C Moffat | Director | 5 | $28,000 |
| Mario Carlucci | Director | 5 | $28,000 |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Kevin P Leary DBA Kevinlearynet | Web Design | $129,437 |
Grants made · $49K in FY2024
5 grants totaling $49K in FY2024. All grants made by Coastal1 Credit Union →
| Recipient | Purpose | Amount |
|---|---|---|
| Pawtucket Central Falls Development Corporation | Charitable contributions | $10,000 |
| St Raphael Academy | Charitable contributions | $10,000 |
| Learning Community Charter School Inc | Charitable contributions | $10,000 |
| Mt St Charles Academy Inc | Charitable contributions | $10,000 |
| Young Mens Christian Association of Pawt Ri | Charitable contributions | $8,500 |
Frequently asked questions
- Is Coastal1 Credit Union a legitimate nonprofit?
- Yes. Coastal1 Credit Union is a 501(c)(14) organization registered with the U.S. Internal Revenue Service under EIN 05-0197075, based in Pawtucket, Rhode Island.
- What is Coastal1 Credit Union's EIN?
- Coastal1 Credit Union's Employer Identification Number (EIN) is 05-0197075.
- How much revenue does Coastal1 Credit Union report?
- Coastal1 Credit Union reported $157,722,319 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- What financial grade does Coastal1 Credit Union have?
- CharityIndex grades Coastal1 Credit Union A, based on financial health (reserves and operating margin).
- How much does Coastal1 Credit Union's highest-paid employee make?
- The highest reported compensation on Coastal1 Credit Union's latest Form 990 is $719,670, paid to Brian Azar (President/ceo).
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Data for Coastal1 Credit Union (EIN 05-0197075) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.