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The Rhode Island Division of Taxation has posted a plain-language summary of key tax provisions that were enacted in the 2022 session of the Rhode Island General Assembly. Most of the tax changes were enacted in the budget bill for the 2023 fiscal year. Some of the changes were enacted in stand-alone legislation. View a copy of the Division's Summary of Legislative Changes: https://tax.ri.gov/sites/g/files/xkgbur541/files/2022-07/ADV_2022_17_summary_of_legislative_changes.pdf Under the Dome New Law 2022 Wrap Up
We, at the Chamber, hope you are enjoying your summer. The House and Senate have been transmitting bills periodically to Governor McKee for his consideration. As explained earlier, this is a normal process to avoid inundating the Governor with hundreds of bills to sign, veto or allow to go into law without his signature, within a seven-day period. It is finally time to release a list of 30 new laws passed in 2022 that touch the business community. There are many other laws that passed this year, but in the interest of time and space, we have limited the report to these 30 new laws. We have included the names of the sponsors of each bill to assist you in your election considerations this year. Labor Laws Senate Bill No. 2242 Chapter 074, Burke, Archambault, DiMario, Valverde, Coyne, Ciccone, Raptakis, McCaffrey, Cano, AN ACT RELATING TO LABOR AND LABOR RELATIONS -- MINIMUM WAGES (Repeals § 28-12-9 of the general laws which provides that the director of labor and training may approve of wages below the minimum wage for those persons whose earning capacity is impaired due to physical or mental disability.) House Bill No. 7511 Chapter 073, Shekarchi, Ackerman, Bennett, McNamara, Shanley, Messier, Azzinaro, Kennedy, Serpa, Batista, AN ACT RELATING TO LABOR AND LABOR RELATIONS -- MINIMUM WAGES (Repeals § 28-12-9 of the general laws which provides that the director of labor and training may approve of wages below the minimum wage for those persons whose earning capacity is impaired due to physical or mental disability.) Senate Bill No. 2246 SUB A Chapter 246, Kallman, Coyne, Sosnowski, Goodwin, Acosta, Zurier, Mack, Cano, DiPalma, Seveney, AN ACT RELATING TO LABOR AND LABOR RELATIONS - TIP PROTECTION (Prohibits employers from receiving any portion of the tips given by customers to their tipped employees, with limited exceptions for credit card service charges.) House Bill No. 7510 SUB A Chapter 245, Morales, Felix, Williams, Alzate, Kislak, Tanzi, Speakman, Henries, Vella-Wilkinson, McEntee, AN ACT RELATING TO LABOR AND LABOR RELATIONS - TIP PROTECTION (Prohibits employers from receiving any portion of the tips given by customers to their tipped employees, with limited exceptions for credit card service charges.) Senate Bill No. 2412 SUB A as amended Chapter 233, Cano, Quezada, Lawson, Kallman, Ciccone, Burke, DiPalma, Murray, Acosta, Euer, AN ACT RELATING TO PUBLIC PROPERTY AND WORKS -- BUILDING SERVICE WORK (Requires that janitors and security guards employed, pursuant to state contracts worth more than one thousand dollars ($1,000) of janitorial or security services, be paid a standard compensation rate.) House Bill No. 7200 SUB A as amended Chapter 232, Diaz, Slater, Amore, Morales, Biah, Alzate, Cortvriend, Kazarian, Batista, AN ACT RELATING TO PUBLIC PROPERTY AND WORKS -- BUILDING SERVICE WORK (Requires that janitors and security guards employed, pursuant to state contracts worth more than one thousand dollars ($1,000) of janitorial or security services, be paid a standard compensation rate.) Senate Bill No. 2418 SUB A Chapter 082, Gallo, Pearson, Goodwin, Lombardo, Murray, AN ACT RELATING TO LABOR AND LABOR RELATIONS -- EMPLOYMENT OF WOMEN AND CHILDREN (Requires children who seek a special limited work permit to successfully complete a worker rights' training program established and funded by the department of labor and training.) House Bill No. 6652 Chapter 081, Noret, Casimiro, Vella-Wilkinson, Alzate, Solomon, Craven, Amore, Casey, S Lima, J Lombardi, AN ACT RELATING TO LABOR AND LABOR RELATIONS -- EMPLOYMENT OF WOMEN AND CHILDREN (Same as 21H-5619 -- Requires children who seek a special limited work permit to successfully complete a training program which shall address workers' rights, workplace health and safety, and workers' compensation, to be established and funded by the DLT.) Senate Bill No. 2551 SUB B Chapter 272, Kallman, McCaffrey, Gallo, DiMario, Ruggerio, Miller, Lawson, Valverde, Seveney, Lombardo, AN ACT RELATING TO STATE AFFAIRS AND GOVERNMENT -- REBUILD RHODE ISLAND TAX CREDIT (Defines "construction worker" and provides for wage and benefits in accordance with chapter 13 of title 37.) House Bill No. 7985 SUB A Chapter 271, Potter, Alzate, Slater, Diaz, Bennett, J Lombardi, Amore, Henries, Morales, O'Brien, AN ACT RELATING TO STATE AFFAIRS AND GOVERNMENT -- REBUILD RHODE ISLAND TAX CREDIT (Requires that all entities receiving tax credits from the state pay their workers the prevailing wage or other payments pursuant to § 37-13. This act would also allow the revocation of the tax credits for violation of this act.) These bills are identical. Senate Bill No. 2666 SUB A Chapter 116, DiPalma, Seveney, Cano, Quezada, Gallo, AN ACT RELATING TO LABOR AND LABOR RELATIONS -- DEPARTMENT OF LABOR AND TRAINING--DIGITAL CREDENTIALING (Mandates the department of labor and training to require publicly funded workforce and training programs to supplement all paper-based credentials with verified electronic credentials.) House Bill No. 8056 SUB A Chapter 115, Messier, Fellela, Barros, Baginski, Alzate, AN ACT RELATING TO LABOR AND LABOR RELATIONS -- DEPARTMENT OF LABOR AND TRAINING--DIGITAL CREDENTIALING (Mandates the department of labor and training to require publicly funded workforce and training programs to supplement all paper-based credentials with verified electronic credentials.) Senate Bill No. 2816 SUB A Chapter 118, (Dept. of Labor and Training) Goodwin, AN ACT RELATING TO LABOR AND LABOR RELATIONS -- EMPLOYMENT SECURITY -- GENERAL PROVISIONS (Extends until June 30, 2023, an increase in the total amount of earnings a partial-unemployment insurance claimant can receive before being entirely disqualified for unemployment insurance benefits.) House Bill No. 7863 SUB A Chapter 117, (Dept. of Labor and Training) McEntee, Caldwell, Morales, AN ACT RELATING TO LABOR AND LABOR RELATIONS -- EMPLOYMENT SECURITY--GENERAL PROVISIONS (Extends until June 30, 2023, an increase in the total amount of earnings a partial-unemployment insurance claimant can receive before being entirely disqualified for unemployment insurance benefits.) Senate Bill No. 2977 Chapter 248, Ciccone, F Lombardi, McCaffrey, Goodwin, de la Cruz, AN ACT RELATING TO LABOR AND LABOR RELATIONS -- WORKERS' COMPENSATION (This act is the annual workers' compensation omnibus.) House Bill No. 8259 Chapter 247, Williams, AN ACT RELATING TO LABOR AND LABOR RELATIONS -- WORKERS' COMPENSATION (This act is the annual workers' compensation omnibus.) Environmental Laws Senate Bill No. 2044 SUB A Chapter 293, Seveney, DiPalma, Euer, DiMario, Cano, Kallman, Coyne, Miller, Pearson, McCaffrey, AN ACT RELATING TO HEALTH AND SAFETY -- TOXIC PACKAGING REDUCTION ACT (Prohibits the sale or promotional distribution of any food package in Rhode Island which contains perfluoroalkyl and polyfluoroalkyl substances (PFAS), effective January 1, 2024.) House Bill No. 7438 SUB A Chapter 294, Cortvriend, Speakman, Carson, Morales, Marszalkowski, McGaw, Ruggiero, Fogarty, Donovan, Kislak, AN ACT RELATING TO HEALTH AND SAFETY -- TOXIC PACKAGING REDUCTION ACT (Prohibits the sale or promotional distribution of any food package containing perfluoroalkyl and polyfluoroalkyl substances (PFAS), effective January 1, 2024. Provisions of § 23-18.13-3(g)(3) sunset on July 1, 2027.) Senate Bill No. 2274 SUB A as amended Chapter 218, Ruggerio, McCaffrey, Goodwin, Euer, Kallman, DiMario, Gallo, Miller, Sosnowski, Felag, AN ACT RELATING TO PUBLIC UTILITIES AND CARRIERS -- RENEWABLE ENERGY (Increases the percentage of retail electricity sales from renewable energy sources.) House Bill No. 7277 SUB A Chapter 226, Ruggiero, Bennett, Handy, Potter, Hull, Diaz, Kazarian, Speakman, Carson, Donovan, AN ACT RELATING TO PUBLIC UTILITIES AND CARRIERS-RENEWABLE ENERGY (Increases the percentage of retail electricity sales from renewable energy sources.) Senate Bill No. 2446 Chapter 176, Ruggerio, McCaffrey, Goodwin, Gallo, DiMario, Kallman, Miller, Burke, Sosnowski, Lawson, AN ACT RELATING TO HEALTH AND SAFETY - PLASTIC WASTE REDUCTION ACT (Creates the "Plastic Waste Reduction Act" designed to reduce the use of plastic bags by retail establishments by offering recyclable bag options and providing penalties for violations.) House Bill No. 7065 SUB A Chapter 177, McEntee, Cortvriend, Speakman, Donovan, Carson, Caldwell, Craven, Morales, Kislak, Ruggiero, AN ACT RELATING TO HEALTH AND SAFETY -- PLASTIC WASTE REDUCTION ACT (Creates the "Plastic Waste Reduction Act" designed to reduce the use of plastic bags by retail establishments by offering recyclable bag options and providing penalties for violations.) Senate Bill No. 2740 SUB B Chapter 381, Ruggerio, McCaffrey, Goodwin, Euer, AN ACT RELATING TO PUBLIC UTILITIES AND CARRIERS -- LABOR STANDARDS IN RENEWABLE ENERGY PROJECTS (Adds a new chapter known as the Labor Standards in Renewable Energy Projects.) House Bill No. 8074 SUB A Chapter 380, Solomon, AN ACT RELATING TO PUBLIC UTILITIES AND CARRIERS -- LABOR STANDARDS IN RENEWABLE ENERGY PROJECTS (Established labor standards applicable to renewable energy projects and conditions/procedures for applicants related to labor agreements with enforcement by department of labor and training (DLT).) House Bill No. 7611 SUB A Chapter 374, Carson, Alzate, Bennett, Solomon, Cortvriend, Ranglin-Vassell, Giraldo, Abney, Donovan, Speakman, AN ACT RELATING TO STATE AFFAIRS AND GOVERNMENT -- 2021 ACT ON CLIMATE (Establishes the Rhode Island executive climate change coordinating council equity and environmental justice advisory board to advise on decision-making and equitable outcomes.) Health Insurance Related Laws Senate Bill No. 2201 SUB A Chapter 151, Goodwin, McCaffrey, Coyne, Miller, Pearson, Gallo, Ruggerio, AN ACT RELATING TO INSURANCE -- ACCIDENT AND SICKNESS INSURANCE POLICIES -- BIOMARKER TESTING COVERAGE (Requires health insurers, nonprofit hospital service corporations, nonprofit medical service corporations and health maintenance organizations that issue policies that provide coverage for biomarker testing on or after 1/1/23.) House Bill No. 7587 SUB A Chapter 152, Ackerman, McNamara, Serpa, Chippendale, Bennett, Baginski, Filippi, Diaz, Amore, AN ACT RELATING TO INSURANCE -- ACCIDENT AND SICKNESS INSURANCE POLICIES -- BIOMARKER TESTING COVERAGE (Requires health insurers, nonprofit hospital service corporations, nonprofit medical service corporations and health maintenance organizations that issue policies that provide coverage for biomarker testing on or after 1/1/23.) Senate Bill No. 2203 SUB B as amended Chapter 423, Lawson, DiMario, Burke, Murray, Cano, Quezada, Valverde, AN ACT RELATING TO INSURANCE (Requires coverage for the treatment of pediatric autoimmune neuropsychiatric disorders associated with streptococcal infections/pediatric acute onset neuropsychiatric syndrome, including, but not limited to, the use of intravenous immunoglobin therapy.) House Bill No. 7503 SUB B as amended Chapter 422, Amore, Henries, AN ACT RELATING TO INSURANCE (Requires coverage for treatment of pediatric autoimmune neuropsychiatric disorders associated with streptococcal infections and pediatric acute onset neuropsychiatric syndrome, including, but not limited to, the use of intravenous immunoglobin therapy.) Senate Bill No. 3035 Chapter 371, Cano, AN ACT RELATING TO INSURANCE -- ACCIDENT AND SICKNESS INSURANCE POLICIES (Provides health care coverage for laparoscopic removal of uterine fibroids, including uterine artery embolization intraoperative ultrasound guidance and monitoring and radiofrequency ablation, commencing January 1, 2023.) House Bill No. 7561 Chapter 370, Vella-Wilkinson, Williams, Noret, Ruggiero, Serpa, Diaz, Casimiro, Baginski, Kazarian, Alzate, AN ACT RELATING TO INSURANCE -- ACCIDENT AND SICKNESS INSURANCE POLICIES (Provides health care coverage for laparoscopic removal of uterine fibroids, including uterine artery embolization intraoperative ultrasound guidance and monitoring and radiofrequency ablation, commencing January 1, 2023.) Parking Lot Requirements Senate Bill No. 2345 Chapter 240, Acosta, Cano, Valverde, DiMario, Zurier, Anderson, Calkin, Mack, Miller, DiPalma, AN ACT RELATING TO MOTOR AND OTHER VEHICLES -- PARKING FACILITIES AND PRIVILEGES (Requires motor vehicle parking spaces in lots with >100 spaces specifically designed for persons transporting young children under the age of 3/baby strollers except for single-family/duplex/townhouse/multifamily residences/industrial zoned properties.) House Bill No. 7743 Chapter 239, Giraldo, Williams, Morales, Alzate, Felix, Barros, Amore, Biah, AN ACT RELATING TO MOTOR AND OTHER VEHICLES -- PARKING FACILITIES AND PRIVILEGES (Requires motor vehicle parking spaces in lots with >100 spaces specifically designed for persons transporting young children under the age of 3/baby strollers except for single-family/duplex/townhouse/multifamily residences/industrial zoned properties.) Business Administrative Laws Senate Bill No. 2093 Chapter 108, F Lombardi, Archambault, McCaffrey, Euer, AN ACT RELATING TO COURTS AND CIVIL PROCEDURE -- PROCEDURE IN PARTICULAR ACTIONS -- RHODE ISLAND COMMERCIAL RECEIVERSHIP ACT (Creates temporary non-liquidating receivership program for businesses with substantial revenue decline after declared emergency/suspended/ceased substantial part of operation resulting by emergency police/regulatory powers.) House Bill No. 7895 Chapter 107, Craven, Caldwell, AN ACT RELATING TO COURTS AND CIVIL PROCEDURE -- PROCEDURE IN PARTICULAR ACTIONS -- RHODE ISLAND COMMERCIAL RECEIVERSHIP ACT (Creates temporary non-liquidating receivership program for businesses with substantial revenue decline after declared emergency/suspended/ceased substantial part of operation resulting by emergency police/regulatory powers.) Senate Bill No. 2645 SUB A Chapter 238, Euer, AN ACT RELATING TO COMMERCIAL LAW -- GENERAL REGULATORY PROVISIONS -- FILING OF ASSUMED NAME (Requires individuals transacting business in RI under any assumed name to file in person, by mail, or electronically with the office of the city or town clerk the true or real full name(s) of the person(s) transacting business and their email address.) House Bill No. 8001 Chapter 237, Carson, Cortvriend, Donovan, Speakman, Edwards, McGaw, Ruggiero, Abney, AN ACT RELATING TO COMMERCIAL LAW--GENERAL REGULATORY PROVISIONS -- FILING OF ASSUMED NAME (Requires individuals transacting business in RI under any assumed name to file in person, by mail, or electronically with the office of the city or town clerk the true or real full name(s) of the person(s) transacting business and their email address.) Senate Bill No. 2812 Chapter 122, (Secretary of State) F Lombardi, Euer, Archambault, Ciccone, Lombardo, McCaffrey, AN ACT RELATING TO CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS -- UNIFORM LIMITED PARTNERSHIP ACT (Enacts the Rhode Island Limited Partnership Act to govern the law of limited partnerships in this state and repeal chapter 12 of title 7 entitled "Limited Partnerships".) House Bill No. 7603 Chapter 121, (Secretary of State) Amore, AN ACT RELATING TO CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS -- UNIFORM LIMITED PARTNERSHIP ACT (Enacts the Rhode Island Limited Partnership Act to govern the law of limited partnerships in this state and repeal chapter 12 of title 7 entitled "Limited Partnerships".) Senate Bill No. 2813 Chapter 124, (Secretary of State) F Lombardi, Euer, Archambault, Ciccone, Lombardo, McCaffrey, AN ACT RELATING TO CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS -- UNIFORM PARTNERSHIP ACT (Enacts the Uniform Partnership Act to govern the law of partnerships in this state.) House Bill No. 7753 Chapter 123, (Secretary of State) Amore, AN ACT RELATING TO CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS -- UNIFORM PARTNERSHIP ACT (Enacts the Uniform Partnership Act to govern the law of partnerships in this state.) General Business or Industry Specific Laws Senate Bill No. 2132 SUB A Chapter 033, Murray, Raptakis, Seveney, DiMario, Lawson, Kallman, AN ACT RELATING TO ALCOHOLIC BEVERAGES -- RETAIL LICENSES (Holders of Class B licenses shall offer the public food during times alcoholic beverages are sold to the public.) House Bill No. 7417 SUB A Chapter 034 Hawkins, Cardillo, Bennett, O'Brien, Noret, Kazarian, Caldwell, Biah, Phillips, AN ACT RELATING TO ALCOHOLIC BEVERAGES -- RETAIL LICENSES (Holders of Class B licenses shall offer the public food during times alcoholic beverages are sold to the public.) Senate Bill No. 2134 Chapter 002, DiMario, Picard, Acosta, Euer, Lawson, Valverde, DiPalma, Zurier, Murray, Burke, AN ACT RELATING TO TOWNS AND CITIES -- SMALL BUSINESSES -- ZONING ORDINANCES (Imposes one year moratorium on enforcement of municipal ordinance or zoning requirement that penalizes owners of food service establishments/bars for modifications/alternations to their premises in response to an emergency declaration.) House Bill No. 7095 Chapter 001, McEntee, Carson, Alzate, Caldwell, Costantino, Cortvriend, Craven, Morales, Batista, Kazarian, AN ACT RELATING TO TOWNS AND CITIES -- ZONING ORDINANCES (Extends the period for the moratorium imposed on the enforcement of any municipal ordinance or zoning regulation relating to any alterations or modifications made to an establishment in order to comply with emergency declarations until April 1, 2023.) Senate Bill No. 2153 as amended Chapter 004, Gallo, AN ACT RELATING TO ALCOHOLIC BEVERAGES -- MANUFACTURING AND WHOLESALE LICENSES -- RETAIL LICENSES (Repeals 3/1/22 sunset provision allowing Class B/brew pub licensees to sell wine/beer/mixed drinks with food takeout orders only.) House Bill No. 7209 SUB A Chapter 003, Baginski, McEntee, Caldwell, AN ACT RELATING TO ALCOHOLIC BEVERAGES -- MANUFACTURING AND WHOLESALE LICENSES -- RETAIL LICENSES (Repeals 3/1/22 sunset provision allowing Class B/brew pub licensees to sell wine/beer/mixed drinks with food takeout orders only.) Senate Bill No. 2430 SUB A as amended Chapter 032, Miller, McCaffrey, Goodwin, Ruggerio, Coyne, Pearson, Acosta, Kallman, Archambault, Murray, AN ACT RELATING TO FOOD AND DRUGS -- THE RHODE ISLAND CANNABIS ACT (The Rhode Island Cannabis Act legalizes adult use of cannabis. It provides for licensing of cultivation, manufacture and retail sale of cannabis.) House Bill No. 7593 SUB A as amended Chapter 031, Slater, Hull, Williams, Kazarian, Solomon, McNamara, O'Brien, Potter, Bennett, Morales, AN ACT RELATING TO FOOD AND DRUGS -- THE RHODE ISLAND CANNABIS ACT (The Rhode Island Cannabis Act legalizes adult use of cannabis. It provides for licensing of cultivation, manufacture and retail sale of cannabis.) Senate Bill No. 2432 Chapter 345, Sosnowski, DiPalma, Murray, AN ACT RELATING TO COMMERCIAL LAW -- GENERAL REGULATORY PROVISIONS--DECEPTIVE TRADE PRACTICES (Amends how credit bureaus doing business in Rhode Island may disclose to inquiring users of credit reports by requiring that in addition to the social security number, the name matches the identity of the person who is the subject of the inquiry.) House Bill No. 8346 Chapter 344, Solomon, Casey, AN ACT RELATING TO COMMERCIAL LAW -- GENERAL REGULATORY PROVISIONS--DECEPTIVE TRADE PRACTICES (Amends how credit bureaus doing business in Rhode Island may disclose to inquiring users of credit reports by requiring that in addition to the social security number, the name matches the identity of the person who is the subject of the inquiry.) Senate Bill No. 2492 SUB A Chapter 192, Murray, Raptakis, Bell, Lawson, Seveney, AN ACT RELATING TO ALCOHOLIC BEVERAGES - MANUFACTURING AND WHOLESALE LICENSES (Authorizes manufacturer-breweries to sell up to three (3) drinks on premises per visitor per day, where a drink is defined as up to sixteen ounces (16 oz.).) House Bill No. 7727 SUB A Chapter 193, McEntee, Caldwell, Cortvriend, O'Brien, AN ACT RELATING TO ALCOHOLIC BEVERAGES - MANUFACTURING AND WHOLESALE LICENSES (Authorizes manufacturer-breweries to sell up to three (3) drinks on premises per visitor per day, where a drink is defined as up to sixteen ounces (16 oz.) of beer or one and one-half ounces (1.5 oz.) of spirits.) Senate Bill No. 2511 SUB A as amended Chapter 236, Ciccone, McCaffrey, Burke, Goodwin, AN ACT RELATING TO BUSINESSES AND PROFESSIONS -- HOTELS (Requires online posting of hotel rules. Allows ejection of person for verbally abusing or physically threatening a hotel employee or guest. Permits refusal of service to anyone under the age of 18, unless accompanied by an adult.) House Bill No. 7910 SUB A Chapter 235, Bennett, Carson, McEntee, Baginski, AN ACT RELATING TO BUSINESSES AND PROFESSIONS -- HOTELS (Provides reasons for an innkeeper to remove guests from a hotel, and permits an innkeeper to refuse admission to a person under eighteen (18) years of age.) Senate Bill No. 2855 SUB A Chapter 281, Gallo, Goodwin, Pearson, Lombardo, Ciccone, Miller, AN ACT RELATING TO HEALTH AND SAFETY -- STATE BUILDING CODE (Increases the current levy on construction costs for residential building permits to be deposited into an exempt restricted receipts account to be used for training grants, including programs for local and state building officials and minority businesses.) House Bill No. 7332 SUB A Chapter 280, McNamara, AN ACT RELATING TO HEALTH AND SAFETY -- STATE BUILDING CODE (Increases the levy on total construction costs that cities and towns may charge for building permits and directs that fifty percent (50%) each of the levy be transmitted monthly to the department of labor and training for workforce training.) Senate Bill No. 2794 Chapter 339, (Dept. of Business Regulation) Sosnowski, AN ACT RELATING TO FINANCIAL INSTITUTIONS -- CREATION AND EXPANSION (Amends a number of provisions in the general laws relative to financial institutions by eliminating unnecessary requirements and/or clarifying language in order to reduce certain burdens on businesses operating in Rhode Island.) House Bill No. 7781 SUB A Chapter 338, (Dept. of Business Regulation) Solomon, AN ACT RELATING TO FINANCIAL INSTITUTIONS -- CREATION AND EXPANSION (Amends a number of provisions in the general laws relative to financial institutions by eliminating unnecessary requirements and/or clarifying language in order to reduce certain burdens on businesses operating in Rhode Island.) PEOPLE’S CREDIT UNION DESIGNATED BY FORBES ONE OF THE BEST CREDIT UNIONS IN RI AND THE COUNTRY FOR THE SECOND CONSECUTIVE YEAR MIDDLETOWN, RI (July 5, 2022): People’s Credit Union has been ranked by Forbes as one the best-in-state and nationwide credit unions for the second year in a row. As part of their annual survey of the Best Credit Unions in each state, Forbes went directly to their customers, partnering with market research firm Statista to conduct in-depth interviews of more than 26,000 U.S. citizens from all fifty states on their banking relationships. Respondents answered a detailed battery of questions focused on six separate facets of the relationship: Trust, terms & conditions (including reasonable and transparent fees), branch services, digital services, customer service, and financial advice. Based on a scale of 1-100, overall scores ranged from 73.95 and 92.54, with 171 unique credit unions nationwide qualifying to earn best-in-state accolades, representing just 3.4% of all U.S credit unions. People’s Credit Union was the only Credit Union in Rhode Island to exceed Forbes’ criteria to be included in the ranking two years in a row. “Earning this distinction two years in a row is a real testament to our team, without whom nothing even close to this designation would be possible,” stated Sean Daly, President & Chief Executive Officer for People’s Credit Union… “As Forbes points out, ’credit unions are the unheralded lifeblood of the U.S. economy…,’ and at People’s we know that to be true now more than ever,” Daly concluded. Forbes in partnership with research firm Statista published their annual financial institution ranking report in June 2022. ABOUT PEOPLE’S CREDIT UNION People’s offers a complete range of services including online and mobile banking, savings and checking accounts, personal loans, mortgages, business accounts, business loans, and financial services. Headquartered in Rhode Island, People’s Credit Union is a member-owned, state chartered, federally insured, community credit union established in 1922. Membership is open to all individuals. Deposits are insured up to $250,000 by the National Credit Union Administration (NCUA), an agency of the federal government. For more information about People’s Credit Union visit www.peoplescu.com. ### |
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