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Coventry Credit Union

Popular Accounts at this Credit Union

2.05%5-year CD5 Years CD
2.05%5-year IRA5 Years IRA (Traditional, Roth, CESA)
0.70%1-year CD1 Year CD

Overview / Commentary
2006 Nooseneck Hill Road
Coventry, RI 02816

Coventry Credit Union is headquartered in Coventry and is the 6th largest credit union in the state of Rhode Island. It is also the 836th largest credit union in the nation. It was established in 1950 and as of December of 2015, it had grown to 52 employees and 25,499 members at 5 locations. Coventry Credit Union's money market rates are 25% higher than the national average, and it has a B+ health rating.

Related Posts

Coventry Credit Union (RI) Raises Rate On 5-Year CD - 1/18/2016

Coventry Credit Union (Rhode Island) raised the rate on its 5-year CD (2.40% APY). The minimum opening deposit is $5K, with no balance cap. Also available as an IRA.

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Reviews (1)

Good Rates, Nice Customer Service.

Posted by: trudy | Mar 6, 2011

I'm a relatively new customer of Coventry Credit Union, but I have been very happy with their customer service and their rates.

They have an IRA specialist who visits the branch near my house several days a week.  I had some extensive discussions with her that were very helpful.  They also handled transferring my accounts from another financial institution quickly and with no trouble and kept me informed about the progress, always important when your money is in the ether somewhere.

They have comparatively high rates, certainly compared to banks and brokerage CDs.  At the time I transferred my accounts, in late 2010, their 5 year CDs were at 3%.  The rates have dropped some, but their 6 year CDs are still, in March 2011, available at 2.85%.

They're a Rhode Island credit union, and are expanding their number of branches.  Currently they have five, which is pretty good coverage for this state.  The branch near my house is new and very convenient.


Health Grade Components

NCUA #66595
Year Chartered1950
Primary Regulator
Profit Margin
Return on Assets - YTD0.43%
Return on Equity - YTD4.8%
Annual Interest Income$8.4MM
Assets and Liabilities
AssetsQ4 2015vs Q4 2014$246.8MM$232.1MM
LoansQ4 2015vs Q4 2014$158.0MM$144.5MM
DepositsQ4 2015vs Q4 2014$205.6MM$192.0MM
Equity CapitalQ4 2015vs Q4 2014$21.9MM$20.7MM
Loan Loss AllowanceQ4 2015vs Q4 2014$427.00K$508.00K
Unbacked Noncurrent LoansQ4 2015vs Q4 2014$2.6MM$3.3MM
Real Estate OwnedQ4 2015vs Q4 2014$825.00K$0
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Coventry Credit Union Savings Account Rates

0.15%--Mortgage Escrow
0.10%--Share Account
0.10%--Deposit Account
0.10%--Statement Savings Account
0.10%--Traditional IRA Share Account
0.10%--Roth IRA Share Account
0.10%--Education IRA Savings Account

Coventry Credit Union Money Market Rates

0.55%*$75k*-Money Market Account
OTHER TIERS: 0.45% $2,500 - $50k | 0.50% $50k - $75k
0.40%*$200k*-Buiness Money Market Account
OTHER TIERS: 0.10% $2,500 - $25k | 0.20% $25k - $50k | 0.30% $50k - $200k

Coventry Credit Union CD Rates

2.05%$5k-5 Years CD
1.60%$5k-4 Years CD
1.25%$1k-3 Years CD
1.20%$1k-2 Years CD
0.70%$1k-1 Year CD
0.70%$1k-18 Months CD

Coventry Credit Union IRA Rates

2.05%$500-5 Years IRA
1.25%$500-3 Years IRA
1.20%$500-2 Years IRA
0.70%$500-1 Year IRA
0.70%$500-18 Months IRA

Coventry Credit Union Locations
Branch Office1076 MAIN STCOVENTRY, RI 02816
Branch Office7373 POST RdNORTH KINGSTOWN, RI 02852
Branch Office2006 Nooseneck Hill RdCoventry, RI 02816
Branch Office744 MAIN STWEST WARWICK, RI 02893
Branch Office1584 Nooseneck Hill RdCoventry, RI 02816