Wave Credit Union

480 Greenwich Avenue
Warwick, RI 02886
(401) 781-1020
www.wavefcu.org

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Wave Credit Union is headquartered in Warwick and is the 9^th largest credit union in the state of Rhode Island. It is also the 1,304^th largest credit union in the nation. It was established in 1938 and as of December of 2011, it had grown to 26 employees and 7,807 members. Wave Credit Union has a 5-star health rating.

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See Rates for: Savings | CD | IRA

Wave Credit Union Savings Account Rates

Apy	Min	Max	Product
0.50%	$50k	-	E Savings
0.25%	-	-	E-Share Account
0.15%	-	-	Share Account
0.15%	-	-	Holiday Club Account
0.15%	-	-	Vacation Club Account
0.15%	-	-	IRA Share Account
0.15%	-	-	Roth IRA Account
0.15%	-	-	Educational IRA Account

Wave Credit Union CD Rates

Apy	Min	Max	Product
1.51%	$1k	-	60 Month CD
1.26%	$1k	-	48 Month CD
1.00%	$1k	-	36 Month CD
0.80%	$2,500	-	24 Month CD
0.65%	$1k	-	18 Month CD
0.55%	$1k	-	15 Month CD
0.50%	$1k	-	12 Month CD
0.45%	$2,500	-	9 Month CD
0.40%	$2,500	-	6 Month CD
0.30%	$2,500	-	3 Month CD

Wave Credit Union IRA Rates

Apy	Min	Max	Product
1.51%	$1k	-	60 Month IRA
1.51%	$1k	-	60 Month Roth IRA
1.51%	$1k	-	60 Month CESA
1.26%	$1k	-	48 Month IRA
1.26%	$1k	-	48 Month Roth IRA
1.26%	$1k	-	48 Month CESA
1.00%	$1k	-	36 Month IRA
1.00%	$1k	-	36 Month Roth IRA
1.00%	$1k	-	36 Month CESA
0.80%	$2,500	-	24 Month IRA
0.80%	$2,500	-	24 Month Roth IRA
0.80%	$2,500	-	24 Month CESA
0.65%	$1k	-	18 Month IRA
0.65%	$1k	-	18 Month Roth IRA
0.65%	$1k	-	18 Month CESA
0.55%	$1k	-	15 Month IRA
0.55%	$1k	-	15 Month Roth IRA
0.55%	$1k	-	15 Month CESA
0.50%	$1k	-	12 Month IRA
0.50%	$1k	-	12 Month Roth IRA
0.50%	$1k	-	12 Month CESA
0.45%	$2,500	-	9 Month IRA
0.45%	$2,500	-	9 Month Roth IRA
0.45%	$2,500	-	9 Month CESA
0.40%	$2,500	-	6 Month IRA
0.40%	$2,500	-	6 Month Roth IRA
0.40%	$2,500	-	6 Month CESA
0.30%	$2,500	-	3 Month IRA
0.30%	$2,500	-	3 Month Roth IRA
0.30%	$2,500	-	3 Month CESA

Rates updated: 5/27/2012

Data for Q4 2011

Institution Statistics

WAVE
NCUA #	24501
BankRate Report	View
Year Chartered	1938
Employees	26
Primary Regulator
Assets and Liabilities
Assets	$114.07 million
Loans	$56.26 million
Deposits	$100.56 million
Equity Capital	$13.19 million
Loan Loss Allowance	$1.01 million
Unbacked Noncurrent Loans	$1.14 million
Real Estate Owned	$81,000
Historic Data - December 2010
Assets	$107.26 million
Equity Capital	$12.90 million
Loan Loss Allowance	$771,000
Unbacked Noncurrent Loans	$1.61 million
Real Estate Owned	$361,000
Profit Margin - Quarterly
Net Interest Margin	5.52%
Return on Assets	0.04%
Return on Equity	0.36%
Interest Income	$4.36 million
Non-Interest Income	$557,000

Institution Health

Overall Score:

5 out of 5

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, 2011 Wave Credit Union had $1.22 million in non-current loans and owned real-estate with $14.19 million in equity and loan loss allowances on hand to cover it. This gives Wave Credit Union a Texas Ratio of 8.60% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend
The Texas Ratio for Wave Credit Union decreased significantly from 14.39% as of December 31, 2010 to 8.60% as of December 31, 2011, resulting in a positive change of 40.25%.This indicates that the balance sheet and financial strength for Wave Credit Union has improved significantly in recent periods.
Deposit Growth
In the past year, Wave Credit Union has increased its total deposits by $6.48 million, resulting in 6.88% 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 Wave Credit Union has shown is excellent.
Capitalization
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. Wave Credit Union has $114.07 million in assets with $14.19 million in equity, resulting in a capitalization level of 12.44%, which is excellent.

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