The Credit Union Difference

People's Credit Union is a community credit union that has served the people of Rhode Island since 1922. 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.

Why People's Credit Union?

We're Owned By Our Members

People's Credit Union is owned by its members and is a not-for-profit, cooperative financial institution. Members combine their savings to create a pool of funds from which other members can borrow. Unlike banks, credit unions do not have stock holders. All People's Credit Union members are encouraged to attend the Annual Meeting, where you may vote to elect a volunteer Board of Directors who oversee the Credit Union's operations. Each member in good standing receives one vote, regardless of their account balance.

We Exist to Serve, Not Make A Profit

Income earned on loans, investments and fees is returned to members in the form of higher savings rates, lower loan rates and additional products and services. Funds on deposit at a credit union are federally insured by the National Credit Union Association (NCUA), an agency of the U.S. government.

Money Invested In Your Community

People's Credit Union is a local institution and community oriented, providing friendly, helpful, and efficient assistance to our membership. As a community credit union we subscribe to the philosophy of "people helping people" by financially supporting many other not-for-profit charitable agencies and organizations within the communities we serve.

Helping Members Meet Their Goals

We understand that every situation is unique and we pride ourselves on working with members to find the best match for their financial needs. People's Credit Union offers a complete range of products and services with all the convenience features you've come to expect from a financial institution, so we know that you'll be satisfied.

Come see for yourself what the Credit Union Difference is all about - call or visit any of our branch locations today to open your account.

The History of People’s Credit Union













 
 		One of the constants about People's Credit Union over our 87 year history is that we’ve never changed our name. We’ve also never changed our commitment to our members, and have stayed true to the credit union philosophy of “people helping people.”

On February 1, 1922 seven people joined together to form what is now People's Credit Union. After six years the Credit Union already had more than 1,400 members with assets reaching $100,000 and by 1937 we had outgrown our original office and moved further up Thames Street to the former Savings Bank of Newport Building.

In 1960, we opened our first branch office in Middletown at Two Mile Corner and our expansion continued in 1963 when we merged with Jamestown Credit Union. In 1966 the Two Mile Corner branch was closed and reopened at our current headquarters location of 858 West Main Road, in the heart of Aquidneck Island.

In 1974 we began servicing the residents of Portsmouth and Island Park at our Park Avenue Branch. Between 1977 and 1978, People’s merged with both Tiverton Credit Union and Portsmouth Credit Union, further strengthening our presence in the area.

In the 1980’s we continued to expand and in 1981 merged with Newport Hospital Employees’ Federal Credit Union. In 1988 we moved into the Borden-Carey Building at Newport Hospital and also opened our downtown Bristol Branch at 555 Hope Street to better serve our members in the East Bay.

In 1992 we merged with the Rhode Island State Grange Credit Union in North Kingstown which led to the creation of our first branch in the West Bay. Our current North Kingstown office located on Post Road was opened in 1994. Four years later, two in-store supermarket branches were opened to serve the communities of Wakefield and East Greenwich. We expanded our Wakefield branch to its own freestanding building at our current location on Old Tower Hill Road to replace the two in-store branches.

In 2007, we combined our Thames Street and Newport Hospital offices and opened our facility at 43 Memorial Boulevard, providing an even more convenient and state-of-the-art branch for our Newport members. We continued our branch improvements in 2008 by relocating our Hope Street office in Bristol to a new free-standing facility on Gooding Avenue.

We are currently continuing our modernization by building a new facility on Post Road in North Kingstown, which will replace the current branch location. We look forward to continuing our history of providing the best possible service and facilities to our existing members while always keeping an eye towards future growth.