Pawtucket Credit Union is headquartered in Pawtucket and is the 2nd largest credit union in the state of Rhode Island. It is also the 125th largest credit union in the nation. It was established in 1926 and as of June of 2020, it had grown to 273 employees and 121,677 members at 16 locations. Pawtucket Credit Union's money market rates are 36% higher than the national average, and it has an A health rating.
Field of Membership Restrictions
Membership is open to those who live or work in Rhode Island, or in nearby communities in Massachusetts or Connecticut. (membership requirements are listed in the online application)
See current membership details
Good Rates, Nice People
Edited from original 2015 review: They have CDs currently (August 2018) at 3%, and the staff is very nice. I have always found them helpful and pleasant to deal with.
a good local bank
having banked with the pawtucket credit union for many years, i feel as though they deliver a consistently good experience to the banker. staff is always helpful and generally personable, and there aren't usually long lines, so you can tell that the credit union is decently staffed.
Bigger Style Credit Union
Pawtucket Credit Union is a great alternative to the "Big Banks". There is no fee for using any credit union (even if its not Pawtucket Credit Union) atms. With a direct deposit their checking accounts are free. They have better then average rates. The only drawback I have is that they do debits before credits.
A big bank diguised as a Credit Union
Pawtucket Credit Union use to be a great credit union. They no longer work with its customers and have higher fees then an average bank. Their accounts have very little interest to offer. The credit union is expanding so fast and developing multiple locations in the State of Rhode Island that it is no longer your local credit union. It is all about getting "new business" and older customers are left in the dust because they aren't new money. Some of their charges on their checking account is a 10.00 a month maintenance fee, 12.00 bank check fee, 35.00 over draw fee. They offer no good savings account for the average joe, as they require thousands of dollars before you get any really kind of interest. They offer no college fund accounts and their CDs have terrible interest. At one time I would recommend Pawtucket Credit Union but I no longer can with the amount of better options available in the state.
Data as of Q2 2020
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 67278 |
| Year Chartered | 1926 |
| Employees | 273 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.66% |
| Return on Equity - YTD | 6.73% |
| Annual Interest Income | $41.1MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2020vs Q2 2019 | $2.55B$2.36B |
| Loans | Q2 2020vs Q2 2019 | $2.18B$2.07B |
| Deposits | Q2 2020vs Q2 2019 | $2.01B$1.88B |
| Equity Capital | Q2 2020vs Q2 2019 | $245.3MM$227.1MM |
| Loan Loss Allowance | Q2 2020vs Q2 2019 | $8.6MM$8.5MM |
| Unbacked Noncurrent Loans | Q2 2020vs Q2 2019 | $5.3MM$4.9MM |
| Real Estate Owned | Q2 2020vs Q2 2019 | $0$0 |
