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Ocean State Credit Union

Popular Accounts at this Credit Union

2.00%5-year CD5 Years CD
2.00%5-year IRA5 Years IRA (Traditional, Roth, CESA)
0.50%1-year CD1 Year CD

Overview / Commentary
2006 Nooseneck Hill Road
Coventry, RI 02816

Ocean State Credit Union is headquartered in Coventry and is the 7th largest credit union in the state of Rhode Island. It is also the 878th largest credit union in the nation. It was established in 1950 and as of September of 2017, it had grown to 42 employees and 24,087 members at 5 locations. Ocean State Credit Union's CD rates are 22% higher than the national average, and it has a B+ health rating.

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Reviews (1)

Good Rates, Nice Customer Service.

Posted by: katkatkat | 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 - YTD0.61%
Return on Equity - YTD6.33%
Annual Interest Income$6.7MM
Assets and Liabilities
AssetsQ3 2017vs Q3 2016$249.2MM$259.9MM
LoansQ3 2017vs Q3 2016$180.0MM$168.8MM
DepositsQ3 2017vs Q3 2016$219.7MM$217.6MM
Equity CapitalQ3 2017vs Q3 2016$24.3MM$22.8MM
Loan Loss AllowanceQ3 2017vs Q3 2016$260.00K$386.00K
Unbacked Noncurrent LoansQ3 2017vs Q3 2016$2.4MM$2.8MM
Real Estate OwnedQ3 2017vs Q3 2016$415.00K$394.00K
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Ocean State Credit Union Savings Account Rates

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

Ocean State Credit Union Money Market Rates

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

Ocean State Credit Union CD Rates

2.50%$5k-5 Year CD Special - New Money Only
2.15%$5k-4 Year CD Special - New Money Only
2.00%$5k-5 Years CD
2.00%$1k-3 Year CD Special - New Money Only
1.95%$1k-2 Year CD Special - New Money Only
1.35%$5k-4 Years CD
1.10%$1k-3 Years CD
1.10%$1k-1 Year CD Special - New Money Only
0.90%$1k-2 Years CD
0.70%$1k-18 Months CD
0.50%$1k-1 Year CD

Ocean State Credit Union IRA Rates

2.50%$500-5 Year IRA CD Special - New Money Only
2.00%$500-5 Years IRA
2.00%$500-3 Year IRA CD Special - New Money Only
1.95%$500-2 Year IRA CD Special - New Money Only
1.10%$500-3 Years IRA
1.10%$500-1 Year IRA CD Special - New Money Only
0.90%$500-2 Years IRA
0.70%$500-18 Months IRA
0.50%$500-1 Year IRA

Ocean State 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