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Overview / Commentary
947 Western Ave
Lynn, MA 01905

River Works Credit Union is headquartered in LYNN and is the 57th largest credit union in the state of Massachusetts. It is also the 1,547th largest credit union in the nation. It was established in 1936 and as of December of 2013, it had grown to 22 employees and 6,936 members. River Works Credit Union has a A health rating.

Field of Membership Restrictions

Must live or work in Essex, Middlesex or Suffolk County. Also open to those who work at the GE Riverworks plant or any of its affiliated companies. - See Details

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Health

Data for Q4 2013

Institution Health

A
Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. River Works Credit Union has a relatively low asset base.

Texas Ratio

GRADE:
A+

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 River Works Credit Union had $816,000 in non-current loans and owned real-estate with $11.09 million in equity and loan loss allowances on hand to cover it. This gives River Works Credit Union a Texas Ratio of 7.36% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for River Works Credit Union experienced no significant changes from 7.49% as of December 31, 2012 to 7.36% as of December 31, 2013, resulting in a positive change of 1.68%.This indicates that the balance sheet and financial strength for River Works Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
A+

In the past year, River Works Credit Union has increased its total deposits by $7.21 million, resulting in 10.02% 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.

Capitalization

GRADE:
A

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 $94.48 million in assets with $11.09 million in equity, resulting in a capitalization level of 11.73%, which is excellent.

Institution Statistics

Overall
NCUA #66346
Year Chartered1936
Employees22
Primary Regulator
Assets and Liabilities
Assets$94.49 million
Loans$65.07 million
Deposits$79.14 million
Equity Capital$10.86 million
Loan Loss Allowance$228,000
Unbacked Noncurrent Loans$718,000
Real Estate Owned$98,000
Historic Data - December 2012
Assets$83.74 million
Equity Capital$9.99 million
Loan Loss Allowance$267,000
Unbacked Noncurrent Loans$718,000
Real Estate Owned$532,000
Profit Margin - Quarterly
Net Interest Margin4.25%
Return on Assets0.79%
Return on Equity6.84%
Interest Income$3.86 million
Rates

Sorry, we do not have rate data for River Works Credit Union

Locations


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