Rave Financial is headquartered in Beaumont and is the 32nd largest credit union in the state of Texas. It is also the 420th largest credit union in the nation. It was established in 1935 and as of September of 2024, it had grown to 305 employees and 80,568 members at 13 locations. Rave Financial has an A health rating.
Membership in Rave Financial is open to those who live, work, worship, or attend school in the Texas counties of Chambers, Hardin, Jasper, Jefferson, Liberty, Newton, Orange, Galveston, Tyler, Harris, Polk, Montgomery, San Jacinto, Sabine, Angelina or San Augustine.
See current membership details
| Overall | |
|---|---|
| NCUA # | 68735 |
| Year Chartered | 1935 |
| Employees | 305 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.34% |
| Return on Equity - YTD | 2.57% |
| Annual Interest Income | $37.3MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2024vs Q3 2023 | $1.08B$1.09B |
| Loans | Q3 2024vs Q3 2023 | $820MM$816.5MM |
| Deposits | Q3 2024vs Q3 2023 | $841.7MM$838.3MM |
| Equity Capital | Q3 2024vs Q3 2023 | $144.8MM$139.4MM |
| Loan Loss Allowance | Q3 2024vs Q3 2023 | $10.2MM$13MM |
| Unbacked Noncurrent Loans | Q3 2024vs Q3 2023 | $5MM$4.7MM |
| Real Estate Owned | Q3 2024vs Q3 2023 | $0$0 |
Rates for Rave Financial are currently being reviewed.
