SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                    FORM 10-K 405

                  Annual Report Pursuant to Section 13 or 15(d)
                     of the Securities Exchange Act of 1934

For the fiscal year ended: December 31, 2001  Commission file numbers:33-99506,
                                               33-99508,33-90012, 333-33269,
                                               333-45785, 333-63989

                                  People's Bank
                                  on behalf of
                     People's Bank Credit Card Master Trust
             (Exact Name of Registrant as Specified in its Charter)

         Connecticut                                   06-1213065
(State or Other Jurisdiction of           (I.R.S. Employer Identification No.)
Incorporation or Organization)

           850 Main Street
       Bridgeport, Connecticut                                  06604
(Address of Principal Executive Offices)                      (Zip Code)


       Registrant's telephone number, including area code: (203) 338-7171

           Securities registered pursuant to Section 12(b) of the Act:
                                     None.

           Securities registered pursuant to Section 12(g) of the Act:

  Certificates (the "Certificates") representing undivided interests in certain
     assets of the People's Bank Credit Card Master Trust. On June 30, 1993,
      February 7, 1994, October 18, 1994, March 6, 1995, November 17, 1995,
             August 8, 1997, February 6, 1998 and September 22, 1999
      Registration Statements on Form S-1, as amended, were filed with the
     Securities and Exchange Commission (the "Commission") registering the
 Certificates pursuant to Section 12(g) of the Securities Exchange Act
                              of 1934 (the "Act").

     Indicate by check mark whether the registrant (1) has filed all reports
   required to be filed by Section 13 or 15(d) of the Securities Exchange Act
     of 1934 (the "Act") during the preceding 12 months (or for such shorter
       period that the registrant was required to file such reports), and
     (2) has been subject to such filing requirements for the past 90 days.

                                    Yes X    No

     Indicate by check mark if disclosure of delinquent filers pursuant to
      Item 405 of Regulation S-K is not contained herein, and will not be
     contained, to the best of registrant's knowledge, in definitive proxy
       statements incorporated by reference in Part III of this Form 10-K
                      or any amendment to this Form 10-K. [X]



   State the aggregate market value of the voting and non-voting common stock
 held by non-affiliates of the registrant. The aggregate market value shall be
   computed by reference to the price at which the common equity was sold, or
   the average bid and asked priced of such common equity, as of a specified
                date within 60 days prior to the date of filing.
                   (See definition of affiliate in Rule 405.)

                                 Not Applicable.

                                     PART I

Item 1.    Business.

           Omitted.

Item 2.    Properties.

           Omitted.

Item 3.    Legal Proceedings.

           The registrant knows of no material pending legal proceedings
           involving the People's Bank Credit Card Master Trust (the "Trust"),
           People's Bank (in its capacity as transferor and servicer of
           receivables transferred to the Trust) ("People's"), Bankers Trust
           Company (in its capacity as Trustee) ( the "Trustee") or People's
           Structured Finance Corp., a wholly owned special purpose subsidiary
           of People's ("PSFC"), as holder of the Exchangeable Transferor
           Certificate representing the undivided interest in the assets of
           the Trust not represented by  Certificates, other than routine
           litigation incidental to the business of the Trust, People's (in
           such capacity), the Trustee (in such capacity) or PSFC.

Item 4.    Submission of Matters to a Vote of Security Holders.

           None.

                                     PART II

Item 5.    Market for Registrant's Common Equity and Related Stockholder
           Matters.

           (a) To People's knowledge, there is no established public trading
           market for the Certificates.  The Certificates are represented by
           one or more certificates registered in the name of Cede & Co.
           ("Cede"), the nominee of The Depository Trust Company ("DTC"),
           and PSFC.

Item 6.    Selected Financial Data.

           Omitted.

Item 7.    Management's Discussion and Analysis of Financial Condition and
           Results of Operation.

           Omitted.

Item 7A.   Quantitative and Qualitative Disclosures About Market Risk.

           Omitted.

Item 8.    Financial Statements and Supplementary Data.

           Omitted.

Item 9.    Changes in and Disagreements with Accountants on Accounting and
           Financial Disclosure.

           None.

                                    PART III

Item 10.   Directors and Executive Officers of the Registrant.

           Omitted.

Item 11.   Executive Compensation.

           Omitted.

Item 12.   Security Ownership of Certain Beneficial Owners and Management.

           The Certificates are represented by one or more certificates
           registered in the name of Cede, the nominee of DTC, and an
           investor holding an interest in the Trust is not entitled to
           receive a Certificate representing such interest except in limited
           circumstances set forth in the Amended and Restated Pooling and
           Servicing Agreement, dated as of March 18, 1997, between People's
           and the Trustee, amending and restating in its entirety the Pooling
           and Servicing Agreement, dated as of June 1, 1993.  Accordingly,
           Cede is the holder of record of the Certificates, which it holds on
           behalf of brokers, dealers, banks, and other direct participants in
           the DTC system. Such direct participants may hold Certificates for
           their own accounts or for the accounts of their customers.  The name
           and address of Cede is:

           Cede & Co.
           c/o The Depository Trust Company
           Seven Hanover Square
           New York, NY  10004

           PSFC owns the Exchangeable Transferor Certificate, representing the
           undivided interest in the assets of the Trust not represented by
           Certificates.  The address of PSFC is:

           PSFC
           850 Main Street
           Bridgeport, CT  06604

Item 13.   Certain Relationships and Related Transactions.

           To People's knowledge there have not been, and there are not
           currently proposed any transaction or series of transactions
           relating to the Trust, to which either the Trust, People's, as
           transferor or servicer, PSFC, or the Trustee, on behalf of the
           Trust, is a party with any Certificateholder who owns of
           record or beneficially more than five percent of the Certificates.

                                     PART IV

Item 14.   Exhibits, Financial Statement Schedules, and Report on Form 8-K.

           (a) Exhibits

               99.1  Management Report on Internal Control Over
                     Financial Reporting for the Credit Card Services Division
                     of People's Bank and Management Report on People's Bank's
                     Compliance with Article IV, Section 4.2 of the Pooling
                     and Servicing Agreement.

               99.2  Independent Accountants' Report on Management's Assertion
                     Concerning Internal Control Over Financial Reporting for
                     the Credit Card Services Division of People's Bank.

               99.3  Independent Accountants' Report on Management's Assertion
                     Concerning People's Bank's Compliance with Article IV,
                     Section 4.2 of the Pooling and Servicing Agreement.

               99.4  Aggregate Annual Report for People's Credit Card Master
                     Trust for the Year Ended December 31, 2001.

               99.5  Monthly Servicer's Certificates (incorporated by reference
                     to Exhibit 20 of Current Reports on Form 8-K dated
                     February 15, 2001; March 20, 2001; April 20, 2001; May 18,
                     2001; June 20, 2001; July 20, 2001; August 17, 2001;
                     September 25, 2001; October 22, 2001; November 27, 2001;
                     December 18, 2001; and January 23, 2002).

           (b) Reports on Form 8-K


               1. People's Bank Credit Card Master Trust Current Report on
                  Form 8-K for the month of September dated October 22, 2001.

               2. People's Bank Credit Card Master Trust Current Report on
                  Form 8-K for the month of October dated November 27, 2001.

               3. People's Bank Credit Card Master Trust Current Report on
                  Form 8-K for the month of November dated December 18, 2001.

               4. People's Bank Credit Card Master Trust Current Report on
                  Form 8-K for the month of December dated January 23, 2002.


                                   SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.

PEOPLE'S BANK
as originator of the Trust (Registrant)


By:      /s/John A. Klein
             John A. Klein
         President and Chief Executive Officer


Pursuant to the requirements of the Securities Exchange Act of 1934, this
report has been signed below on March 21, 2002 by the following persons on
behalf of the registrant and in the capacities indicated.

      Signatures                              Title

  /s/John A. Klein            President, Chief Executive Officer and Director
  John A. Klein

  /s/Donald T. Heroman        Executive Vice President& Chief Financial Officer
  Donald T. Heroman

  /s/Vincent J. Calabrese     First Vice President, Controller and Chief
  Vincent J. Calabrese          Accounting Officer

  /s/Collin P. Baron          Director
  Collin P. Baron

  /s/George P. Carter         Director
  George P. Carter

  /s/Joseph E. Clancy         Director
  Joseph E. Clancy

  /s/Jerry Franklin           Director
  Jerry Franklin

  /s/Eunice S. Groark         Director
  Eunice S. Groark

  /s/Betty Ruth Hollander     Director
  Betty Ruth Hollander

  /s/Saul Kwartin             Director
  Saul Kwartin

  /s/Jeremiah J. Lowney, Jr.  Director
  Jeremiah J. Lowney, Jr.

  /s/Jack E. McGregor         Director
  Jack E. McGregor

                              Director
  James A. Thomas


                                   EXHIBIT INDEX

     No.

     99.1  Management Report on Internal Control Over Financial
           Reporting for the Credit Card Services Division of People's Bank and
           Management Report on People's Bank's Compliance with Article IV,
           Section 4.2 of the Pooling and Servicing Agreement.

     99.2  Independent Accountants' Report on Management's Assertion Concerning
           Internal Control Over Financial Reporting for the Credit
           Card Services Division of People's Bank.

     99.3  Independent Accountants' Report on Management's Assertion Concerning
           People's Bank's Compliance with Article IV, Section 4.2 of the
           Pooling and Servicing Agreement.

     99.4  Aggregate Annual Report for People's Credit Card Master Trust for
           the Year Ended December 31, 2001.

     99.5  Monthly Servicer's Certificates (incorporated by reference
           to Exhibit 20 of Current Reports on Form 8-K dated
           February 15, 2001; March 20, 2001; April 20, 2001; May 18, 2001;
           June 20, 2001; July 20, 2001; August 17, 2001; September 25, 2001;
           October 22, 2001; November 27, 2001; December 18, 2001; and
           January 23, 2002).




                        People's Credit Card Master Trust

              Management Report on Internal Control Over Financial
        Reporting for the Credit Card Services Division of People's Bank
            and Management Report on People's Bank Compliance with
         Article IV, Section 4.2 of the Pooling and Servicing Agreement

                          As of December 31, 2001

              Management Report on Internal Control Over Financial
        Reporting for the Credit Card Services Division of People's Bank

Management of People's Bank ("People's") is responsible for establishing and
maintaining effective internal control over financial reporting for the
Credit Card Services division of People's, inclusive of the accounts
transferred to and serviced for the People's Bank Credit Card Master Trust,
that is sufficient for the prevention and detection of misstatements due to
errors or fraud in amounts that would be material to People's consolidated
financial statements.  This internal control contains monitoring mechanisms,
and actions are taken to correct deficiencies identified.

There are inherent limitations in any internal control, including the
possibility of human error and the circumvention or overriding of controls.
Accordingly, even effective internal control can provide only reasonable
assurance with respect to the preparation of financial information.
Further, because of changes in conditions, the effectiveness of any internal
control may vary over time.

Management assessed whether the internal control over financial reporting for
People's Credit Card Services division as of December 31, 2001 was sufficient
for the prevention and detection of misstatements due to errors or fraud in
amounts that would be material to People's consolidated financial statements.
The assessment was based on criteria for effective internal control over
financial reporting described in Internal Control - Integrated Framework
issued by the Committee of Sponsoring Organizations of the Treadway
Commission.  Based on this assessment, management believes that, as of
December 31, 2001, the Credit Card Services division of People's maintained
effective internal control over financial reporting that was sufficient for
the prevention and detection of misstatements due to errors or fraud in
amounts that would be material to People's consolidated financial statements.

         Management Report on People's Bank's Compliance with Article IV,
               Section 4.2 of the Pooling and Servicing Agreement

Management of People's Bank ("People's") is responsible for complying with
the provisions of Article IV, Section 4.2 of the Amended and Restated
Pooling and Servicing Agreement dated March 18, 1997 (as heretofore amended,
supplemented or otherwise modified including the applicable supplements
dated July 1, 1996, March 18, 1997, September 1, 1997, April 1, 1998 and
September 29, 1999) by and between People's as transferor and servicer,and
Bankers Trust Company as trustee (the "Agreement").  Management of People's
is also responsible for establishing and maintaining effective internal
control over compliance with the aforementioned requirements.

Management has performed an evaluation of People's compliance with the
aforementioned requirements of Article IV, Section 4.2 of the Agreement, as
of December 31, 2001.  Based on this evaluation, management believes that,
as of December 31, 2001, People's was in compliance with the aforementioned
requirements of Article IV, Section 4.2 of the Agreement.


/s/John A.Klein
Chairman, Chief Executive Officer and President


/s/Donald T. Heroman
Executive Vice President & Chief Financial Officer


March 21, 2002




                        People's Credit Card Master Trust

       Independent Accountants' Report on Management's Assertion Concerning
              Internal Control Over Financial Reporting for the
               Credit Card Services Division of People's Bank


                         Independent Accountants' Report

People's Bank
850 Main Street
Bridgeport, Connecticut 06604

Bankers Trust Company
Four Albany Street, 10th Floor
New York, New York 10006


We have examined the assertion made by the management of People's Bank
("People's") that its Credit Card Services division (which includes the
accounts transferred to and serviced for the People's Bank Credit Card Master
Trust) maintained effective internal control over financial reporting as of
December 31, 2001 that was sufficient for the prevention and detection of
misstatements due to errors or fraud in amounts that would be material to
People's consolidated financial statements.  This assertion is included in the
accompanying Management Report on Internal Control Over Financial Reporting
for the Credit Card Services Division of People's Bank, dated March 21, 2002,
and is based on criteria established in Internal Control - Integrated
Framework issued by the Committee of Sponsoring Organizations of the Treadway
Commission.  Management of People's is responsible for maintaining effective
internal control over financial reporting.  Our responsibility is to express
an opinion on management's assertion based on our examination.

Our examination was conducted in accordance with attestation standards
established by the American Institute of Certified Public Accountants and,
accordingly, included obtaining an understanding of the internal control over
financial reporting, testing and evaluating the design and operating
effectiveness of the internal control, and performing such other procedures
as we considered necessary in the circumstances.  We believe that our
examination provides a reasonable basis for our opinion.

Because of inherent limitations in any internal control, misstatements due
to errors or fraud may occur and not be detected.  Also, projections of any
evaluation of internal control over financial reporting to future periods
are subject to the risk that the internal control may become inadequate because
of changes in conditions, or that the degree of compliance with the policies
or procedures may deteriorate.

In our opinion, management's assertion that the Credit Card Services division
of People's maintained effective internal control over financial reporting as
of December 31, 2001 that was sufficient for the prevention and detection
of misstatements due to errors or fraud in amounts that would be material to
People's consolidated financial statements is fairly stated, in all material
respects, based on criteria described in Internal Control - Integrated
Framework issued by the Committee of Sponsoring Organizations of the Treadway
Commission.

/s/ KPMG LLP


Stamford, Connecticut
March 21, 2002



                        People's Credit Card Master Trust

      Independent Accountants' Report on Management's Assertion Concerning
                  People's Bank's Compliance with Article IV,
               Section 4.2 of the Pooling and Servicing Agreement


                        Independent Accountants' Report

People's Bank
850 Main Street
Bridgeport, Connecticut 06604

Bankers Trust Company
Four Albany Street, 10th Floor
New York, New York 10006


We have examined the assertion made by the management of People's Bank
("People's") that, as of December 31, 2001, People's was in compliance
with the requirements of Article IV, Section 4.2 of the Amended and
Restated Pooling and Servicing Agreement dated March 18, 1997 (as heretofore
amended, supplemented or otherwise modified including the applicable
supplements dated July 1, 1996, March 18, 1997, September 1, 1997, April 1,
1998 and September 29, 1999) by and between People's as transferor and
servicer, and Bankers Trust Company as trustee (the "Agreement").  This
assertion is included in the accompanying Management Report on People's Bank
Compliance with Article IV, Section 4.2 of the Pooling and Servicing
Agreement, dated March 21, 2002.  Management of People's is responsible for
compliance with the aforementioned requirements.  Our responsibility is to
express an opinion on management's assertion about People's compliance based
on our examination.

Our examination was conducted in accordance with attestation standards
established by the American Institute of Certified Public Accountants and,
accordingly, included examining, on a test basis, evidence about People's
compliance with the aforementioned requirements and performing such other
procedures as we considered necessary in the circumstances. We believe that
our examination provides a reasonable basis for our opinion.  Our examination
does not provide a legal determination on People's compliance with the
aforementioned requirements.

In our opinion, management's assertion that, as of December 31, 2001, People's
was in compliance with the aforementioned requirements of Article IV, Section
4.2 of the Agreement is fairly stated, in all material respects.

This report is intended solely for the information and use of People's and
Bankers Trust Company.  It is not intended to be, and should not be, used by
anyone other than these specified parties.

/s/ KPMG LLP


Stamford, Connecticut
March 21, 2002


              PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1996-1
                            2001 ANNUAL TAX STATEMENT

Total Class A Distributions For The Year Ended 12/31/01:      $335,334,552.17
Total Class A Distributions Per $1,000 of Original Investment:        $884.79

Total Class B Distributions For The Year Ended 12/31/01:          $989,764.37
Total Class B Distributions Per $1,000 of Original Investment:         $47.13

Class A Distributions Allocated To Certificate Principal:     $324,857,142.84
Class A Distributions of Principal Per $1,000 of Original Investment: $857.14

Class B Distributions Allocated to Certificate Principal                $0.00
Class B Distributions of Principal Per $1,000 of Original Investment:   $0.00

Class A Distributions Allocated To Certificate Interest:       $10,477,409.33
Class A Distributions of Interest Per $1,000 of Original Investment:   $27.64

Class B Distributions Allocated to Certificate Interest           $989,764.37
Class B Distributions of Interest Per $1,000 of Original Investment:   $47.13

              PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1997-1
                            2001 ANNUAL TAX STATEMENT

Total Class A Distributions For The Year Ended 12/31/01:       $19,251,070.34
Total Class A Distributions Per $1,000 of Original Investment:         $45.30

Total Class B Distributions For The Year Ended 12/31/01:        $1,597,573.98
Total Class B Distributions Per $1,000 of Original Investment:         $47.34

Total Collateral Interest Distributions For The Year
 Ended 12/31/01:                                               $20,507,380.66
Total Collateral Interest Distributions Per $1,000 of
 Original Investment:                                                 $497.15

Class A Distributions Allocated To Certificate Principal:               $0.00
Class A Distributions of Principal Per $1,000 of Original Investment:   $0.00

Class B Distributions Allocated to Certificate Principal                $0.00
Class B Distributions of Principal Per $1,000 of Original Investment:   $0.00

Collateral Interest Distributions Allocated to Collateral
 Principal:                                                    $19,107,629.43
Collateral Interest Distributions of Principal Per $1,000 of
 Original Investment:                                                 $463.22

Class A Distributions Allocated To Certificate Interest:       $19,251.070.34
Class A Distributions of Interest Per $1,000 of Original Investment:   $45.30

Class B Distributions Allocated to Certificate Interest         $1,597,573.98
Class B Distributions of Interest Per $1,000 of Original Investment:   $47.34

Collateral Interest Distributions Allocated to Collateral
 Interest:                                                      $1,399,751.23
Collateral Interest Distributions of Interest Per $1,000 of
 Original Investment:                                                  $33.93

              PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1997-2
                            2001 ANNUAL TAX STATEMENT

Total Class A Distributions For The Year Ended 12/31/01:       $19,294,396.74
Total Class A Distributions Per $1,000 of Original Investment:         $45.40

Total Class B Distributions For The Year Ended 12/31/01:        $1,601,014.61
Total Class B Distributions Per $1,000 of Original Investment:         $47.44

Total Collateral Interest Distributions For The Year
 Ended 12/31/01:                                                $1,528,222.72
Total Collateral Interest Distributions Per $1,000 of
 Original Investment:                                                  $37.05

Class A Distributions Allocated To Certificate Principal:               $0.00
Class A Distributions of Principal Per $1,000 of Original Investment:   $0.00

Class B Distributions Allocated to Certificate Principal                $0.00
Class B Distributions of Principal Per $1,000 of Original Investment:   $0.00

Collateral Interest Distributions Allocated to Collateral Principal:    $0.00
Collateral Interest Distributions of Principal Per $1,000 of
 Original Investment:                                                   $0.00

Class A Distributions Allocated To Certificate Interest:       $19,294,396.74
Class A Distributions of Interest Per $1,000 of Original Investment:   $45.40

Class B Distributions Allocated to Certificate Interest         $1,601,014.61
Class B Distributions of Interest Per $1,000 of Original Investment:   $47.44

Collateral Interest Distributions Allocated to Collateral
 Interest:                                                      $1,528,222.72
Collateral Interest Distributions of Interest Per $1,000 of
 Original Investment:                                                  $37.05

              PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1998-1
                            2001 ANNUAL TAX STATEMENT

Total Class A Distributions For The Year Ended 12/31/01:       $15,606,680.07
Total Class A Distributions Per $1,000 of Original Investment:         $45.50

Total Class B Distributions For The Year Ended 12/31/01:        $1,283,564.19
Total Class B Distributions Per $1,000 of Original Investment:         $47.54

Total Collateral Interest Distributions For The Year
 Ended 12/31/01:                                                  $979,264.43
Total Collateral Interest Distributions Per $1,000 of
 Original Investment:                                                  $32.64

Class A Distributions Allocated To Certificate Principal:               $0.00
Class A Distributions of Principal Per $1,000 of Original Investment:   $0.00

Class B Distributions Allocated to Certificate Principal                $0.00
Class B Distributions of Principal Per $1,000 of Original Investment:   $0.00

Collateral Interest Distributions Allocated to Collateral Principal:    $0.00
Collateral Interest Distributions of Principal Per $1,000 of
 Original Investment:                                                   $0.00

Class A Distributions Allocated To Certificate Interest:       $15,606,680.07
Class A Distributions of Interest Per $1,000 of Original Investment:   $45.50

Class B Distributions Allocated to Certificate Interest         $1,283,564.19
Class B Distributions of Interest Per $1,000 of Original Investment:   $47.54

Collateral Interest Distributions Allocated to Collateral
 Interest:                                                        $979,264.43
Collateral Interest Distributions of Interest Per $1,000 of
 Original Investment:                                                  $32.64

              PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1999-1
                            2001 ANNUAL TAX STATEMENT

Total Class A Distributions For The Year Ended 12/31/01:       $15,896,035.78
Total Class A Distributions Per $1,000 of Original Investment:         $47.03

Total Class B Distributions For The Year Ended 12/31/01:        $1,449,596.34
Total Class B Distributions Per $1,000 of Original Investment:         $49.99

Total Collateral Interest Distributions For The Year Ended
 12/31/01:                                                      $6,619,376.46
Total Collateral Interest Distributions Per $1,000 of Original
 Investment:                                                          $200.59

Class A Distributions Allocated To Certificate Principal:               $0.00
Class A Distributions of Principal Per $1,000 of Original Investment:   $0.00

Class B Distributions Allocated to Certificate Principal                $0.00
Class B Distributions of Principal Per $1,000 of Original Investment:   $0.00

Collateral Interest Distributions Allocated to Collateral
 Principal:                                                     $5,525,885.56
Collateral Interest Distributions of Principal Per $1,000 of
 Original Investment:                                                 $167.45

Class A Distributions Allocated To Certificate Interest:       $15,896,035.78
Class A Distributions of Interest Per $1,000 of Original Investment:   $47.03

Class B Distributions Allocated to Certificate Interest         $1,449,596.34
Class B Distributions of Interest Per $1,000 of Original Investment:   $49.99

Collateral Interest Distributions Allocated to Collateral
 Interest:                                                      $1,093,490.90
Collateral Interest Distributions of Interest Per $1,000 of
 Original Investment:                                                  $33.14