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P.O. Box 186
Central Falls, RI 02863

Dexter Credit Union is headquartered in Central Falls and is the 8th largest credit union in the state of Rhode Island. It is also the 1,293rd largest credit union in the nation. It was established in 1948 and as of December of 2013, it had grown to 36 employees and 9,647 members. Dexter Credit Union has a C+ health rating.

Field of Membership Restrictions

Must be a member of a fraternal organization, volunteer association, partnership or corporation. - See Details

Reviews (1)

Unsubstantiated Funds Were Taken From My Account Without My Permission.

Unsubstantiated funds were taken from my
 checking account without my consent by Dexter Credit Union.
When pulling up to a drive through the cone was not sitting properly
and when I went to take it from the cradle it slipped and fell on the ground.
The manager watched from the window as I sat in my car waiting for help
 and she did nothing. Finally I put my car in reverse so i could get out and retrieve it.
And has luck would have it my tire caught the top if it and cracked it.
 They are charging me forty dollars. I don't recall signing anything
 that implied I was responsible for their consumables.


Data for Q4 2013

Institution Health


Texas Ratio


The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 Dexter Credit Union had $2.5 million in non-current loans and owned real-estate with $8.46 million in equity and loan loss allowances on hand to cover it. This gives Dexter Credit Union a Texas Ratio of 29.55% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Dexter Credit Union increased slightly from 20.96% as of December 31, 2012 to 29.55% as of December 31, 2013, resulting in a negative change of 41.04%. This indicates that the balance sheet and financial strength for Dexter Credit Union has declined slightly in recent periods.

Deposit Growth


In the past year, Dexter Credit Union has increased its total deposits by $2.47 million, resulting in 2.32% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Dexter Credit Union has shown is above average.



Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Dexter Credit Union has $123.75 million in assets with $8.46 million in equity, resulting in a capitalization level of 6.84%, which is below average.

Institution Statistics

NCUA #65746
Year Chartered1948
Primary Regulator
Assets and Liabilities
Assets$123.75 million
Loans$81.98 million
Deposits$108.99 million
Equity Capital$7.71 million
Loan Loss Allowance$749,000
Unbacked Noncurrent Loans$2.01 million
Real Estate Owned$488,000
Historic Data - December 2012
Assets$120.75 million
Equity Capital$9.91 million
Loan Loss Allowance$288,000
Unbacked Noncurrent Loans$2.01 million
Real Estate Owned$188,000
Profit Margin - Quarterly
Net Interest Margin4.33%
Return on Assets-0.71%
Return on Equity-11.39%
Interest Income$4.30 million

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Dexter Credit Union Savings Account Rates

0.10%$100-Share Savings Account
0.10%$100-IRA Account

Dexter Credit Union Money Market Rates

0.30%$100k-Xtra Money Market Account
0.10%$500-Money Market Account

Dexter Credit Union Checking Account Rates

0.25%$1k-Interest Checking Account

Dexter Credit Union CD Rates

1.25%$1k-60 Month CD
1.00%$1k-36 Month CD
1.00%$1k-48 Month Step up CD
0.65%$1k-30 Month CD
0.60%$1k-18 Month CD
0.60%$1k-24 Month CD
0.50%$1k-12 Month CD
0.45%$1k-15 Month CD
0.40%$1k-10 Month CD
0.35%$1k-13 Month CD
0.25%$1k-6 Month CD
0.25%$1k-7 Month CD
0.25%$1k-9 Month CD
0.25%$1k-8 Month CD
0.25%$1k-11 Month CD
0.10%$1k-3 Month CD

Dexter Credit Union IRA Rates

1.25%$500-60 Month IRA
1.00%$500-36 Month IRA
0.65%$500-30 Month IRA
0.60%$500-18 Month IRA
0.60%$500-24 Month IRA
0.50%$500-12 Month IRA
0.45%$500-15 Month IRA
0.40%$500-10 Month IRA
0.35%$500-13 Month IRA
0.25%$500-6 Month IRA
0.25%$500-7 Month IRA
0.25%$500-9 Month IRA
0.25%$500-8 Month IRA
0.25%$500-11 Month IRA
0.10%$500-3 Month IRA

Dexter Credit Union Locations
Branch Office934 Dexter StCentral Falls, RI 02863
Branch Office135 Danielson PikeNorth Scituate, RI 02857