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Greenwood Credit Union


Overview / Commentary
401-739-4600
2669 Post Rd
Warwick, RI 02886-3039

Greenwood Credit Union is headquartered in Warwick and is the 3rd largest credit union in the state of Rhode Island. It is also the 526th largest credit union in the nation. It was established in 1948 and as of March of 2019, it had grown to 59 employees and 67,861 members at 1 location. Greenwood Credit Union's money market rates are 3X the national average, and it has an A health rating.

Field of Membership Restrictions

Membership in Greenwood Credit Union is open to anyone (regardless of residency status) by opening and maintaining a Share Account, with a minimum of a $5.00 balance
See current membership details

Related Posts

Greenwood CU 5-Yr. CD 3.75% May No Longer Be Available - 12/6/2018

Greenwood's 5-year CD with an APY of 3.75% is still listed on the credit union website's home page. However, the rate sheet lists an APY of 3.00%. https://www.greenwoodcu.org/gcu-rates/certificate-of-deposits/

12-Month CD At Greenwood Credit Union - 11/6/2018

Greenwood Credit Union (easy membership) has added 160 bps to its 12-month CD. Minimum deposit is $1k, with no stated balance cap.

Greenwood Credit Union Adds 30-Month CD - 8/27/2018

Greenwood Credit Union (easy membership) has added a 30-month CD that earns 3.25% APY. Minimum opening deposit is $1k, with no stated balance cap.

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Good Place, Nice People

Posted by: katkatkat | Jul 9, 2015

I'm a new customer as of about two months ago. Everyone was very pleasant and helpful. They have the highest interest rates on CDs in this area, at least at the present time.

Update 2019: I am surprised to read some of the bad reviews about them here. I think some are based on the customer's ignorance of banking laws, for example, not realizing that federal regulations now require stringent identity checks when opening a deposit account at a bank or credit union one has not done business with before,

I have always found Greenwood to be pleasant and helpful.

IRA CD Requires A Physical Visit At A Branch Location

Posted by: mountain52 | Apr 2, 2019

You are not able to open an IRA CD online. Per the representative, the IRA CD requires a visit to a branch location.

You Can Apply Online And Don't Need To Go To Their Office.

Posted by: Greg56770 | Nov 7, 2018

I called Greenwood and was told the entire CD application process can be completed online. Not required to go to a Greenwood bank office. The CDs are open to everyone but you need to join their union by opening a savings acct for $5.00.

My issue - You can withdraw the monthly interest but only to a Greenwood saving acct. And then you have to request for a check to be sent to you. They will not do an ACH to your local bank acct.

A Bit Deceptive Membership Process

Posted by: syncomm1 | Apr 30, 2018

The signup process was easy enough and the first rep I spoke with (who answered quickly) was courteous and helpful.
The deception is this: their Field of Membership page does not clearly say that an office visit to RI is necessary.
When I go to the end of the application process (after answering all the credit check questions, and starting the funding process) and had a question, I phoned. The rep basically told me that I had to go into a branch to join or no dice. Then she sounded angry at me, as though I committed a breach, and then just hung up. No apology for having a vague policy ON THEIR OWN SITE or wasting my time.

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Health

Health Grade Components

Overall
NCUA #66594
Year Chartered1948
Employees59
Primary Regulator
Profit Margin
Return on Assets - YTD0.65%
Return on Equity - YTD7.68%
Annual Interest Income$5.5MM
Assets and Liabilities
AssetsQ1 2019vs Q1 2018$561.2MM$496.8MM
LoansQ1 2019vs Q1 2018$465.1MM$413.5MM
DepositsQ1 2019vs Q1 2018$494.7MM$416.6MM
Equity CapitalQ1 2019vs Q1 2018$47.5MM$44.2MM
Loan Loss AllowanceQ1 2019vs Q1 2018$1.0MM$974.00K
Unbacked Noncurrent LoansQ1 2019vs Q1 2018$1.9MM$1.1MM
Real Estate OwnedQ1 2019vs Q1 2018$272.00K$0
Rates
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Always verify rates and promotions with the bank or credit union. We are not Greenwood Credit Union; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Greenwood Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%$25-Share 1 Savings
0.50%$100-Day-to-Day IRA
0.25%$1-Holiday Club
0.25%$1-Vacation Club
0.25%$1-Deposit Savings

Greenwood Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.50%*$150k*-Money Market Savings
OTHER TIERS: 0.50% $2.5k - $50k | 1.00% $50k - $150k

Greenwood Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%$1k-Interest Checking

Greenwood Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.85%$1k-60 Month CD
2.80%$1k-48 Month CD
2.75%$1k-36 Month CD
2.75%$1k-30 Month CD
2.50%$1k-24 Month CD
2.35%$1k-18 Month CD
2.25%$1k-12 Month CD
0.50%$1k-3 Month CD
0.50%$1k-6 Month CD

Greenwood Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.85%$1k-60 Month IRA Certificate
2.80%$1k-48 Month IRA Certificate
2.75%$1k-36 Month IRA Certificate
2.75%$1k-30 Month IRA Certificate
2.50%$1k-24 Month IRA Certificate
2.35%$1k-18 Month IRA Certificate
2.25%$1k-12 Month IRA Certificate
0.50%$1k-3 Month IRA Certificate
0.50%$1k-6 Month IRA Certificate
Locations


Greenwood Credit Union Locations
Branch Office2669 Post RdWarwick, RI 02886-3039

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