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947 Western Ave
Lynn, MA 01905-2640

River Works Credit Union is headquartered in Lynn and is the 56th largest credit union in the state of Massachusetts. It is also the 1,515st largest credit union in the nation. It was established in 1936 and as of March of 2014, it had grown to 22 employees and 6,796 members. River Works Credit Union's money market rates are 36% higher than the national average, and it boasts a A+ health rating.

Field of Membership Restrictions

Eligible to anyone who works or lives in Essex, Middlesex or Suffolk Counties or select employer groups. - See Details

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Data for Q1 2014

Institution Health


Texas Ratio


The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 River Works Credit Union had $424,000 in non-current loans and owned real-estate with $11.43 million in equity and loan loss allowances on hand to cover it. This gives River Works Credit Union a Texas Ratio of 3.71% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for River Works Credit Union decreased dramatically from 6.32% as of March 31, 2013 to 3.71% as of March 31, 2014, resulting in a positive change of 41.28%.This indicates that the balance sheet and financial strength for River Works Credit Union has improved dramatically in recent periods.

Deposit Growth


In the past year, River Works Credit Union has increased its total deposits by $10.35 million, resulting in 14.19% 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 River Works Credit Union has shown is excellent.



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. River Works Credit Union has $100.51 million in assets with $11.43 million in equity, resulting in a capitalization level of 11.37%, which is excellent.

Institution Statistics

NCUA #66346
Year Chartered1936
Primary Regulator
Assets and Liabilities
Assets$100.51 million
Loans$71.54 million
Deposits$83.33 million
Equity Capital$11.16 million
Loan Loss Allowance$271,000
Unbacked Noncurrent Loans$326,000
Real Estate Owned$98,000
Historic Data - March 2013
Assets$85.24 million
Equity Capital$10.32 million
Loan Loss Allowance$263,000
Unbacked Noncurrent Loans$326,000
Real Estate Owned$412,000
Profit Margin - Quarterly
Return on Assets1.07%
Return on Equity9.68%
Interest Income$1.11 million

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River Works Credit Union Savings Account Rates

0.30%$25-IRA Accumulator
0.15%$25-Regular Savings Account
0.15%$25-Christmas Club
0.15%$25-Fuel Club
0.15%$25-Vacation Club

River Works Credit Union Money Market Rates

0.60%$100k-Money Market Account

River Works Credit Union Checking Account Rates

0.20%$10k-Preferred Checking

River Works Credit Union CD Rates

1.65%$500-60 Month CD
1.25%$500-48 Month CD
1.10%$500-36 Month CD
0.95%$500-24 Month CD
0.80%$500-18 Month CD
0.65%$500-12 Month CD
0.40%$500-6 Month CD
0.25%$500-3 Month CD

River Works Credit Union IRA Rates

1.45%$25k-48 Month IRA Special
1.30%$500-36 Month IRA
0.95%$500-24 Month IRA
0.90%$500-18 Month IRA

River Works Credit Union Locations
Branch Office947 Western AveLynn, MA 01905-2640
Branch Office96 High StreetBillerica, MA 01821
Branch Office947 Western AveLynn, MA 01905-2640