Rhode Island Credit Union is headquartered in Providence and is the 6th largest credit union in the state of Rhode Island. It is also the 826th largest credit union in the nation. It was established in 1946 and as of June of 2020, it had grown to 82 employees and 29,314 members at 7 locations. Rhode Island Credit Union has an A health rating.
Field of Membership Restrictions
Membership in Rhode Island Credit Union is open to anyone who live or work within the state of Rhode Island or within 50 miles of the Rhode Island border.
See current membership details
Great service
As a retired State of Rhode Island employee, I originally joined the RI State Employees Credit Union way back in the 1980s when I was hired as a state worker. It was a great way to save, borrow, and access lending options. When I first joined, I had $25 per pay period deposited directly from my paycheck into my credit union savings account. It was not a lot of money, but it added up because before I could get the money it was already in the bank. After about a year, I decided to apply for a loan because I needed a new washer and dryer. It was only a small loan but I was approved right away and the interest rate was much lower than I would have gotten if I had used a credit card. Over the years I applied for car loans, home improvement loans, etc. The credit union was always there for me with the lowest rates and excellent service.
Data as of Q2 2020
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 67269 |
| Year Chartered | 1946 |
| Employees | 82 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.2% |
| Return on Equity - YTD | 2.06% |
| Annual Interest Income | $5.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2020vs Q2 2019 | $337.0MM$286.0MM |
| Loans | Q2 2020vs Q2 2019 | $237.3MM$230.8MM |
| Deposits | Q2 2020vs Q2 2019 | $302.6MM$255.6MM |
| Equity Capital | Q2 2020vs Q2 2019 | $31.0MM$27.6MM |
| Loan Loss Allowance | Q2 2020vs Q2 2019 | $1.1MM$910.00K |
| Unbacked Noncurrent Loans | Q2 2020vs Q2 2019 | $609.00K$472.00K |
| Real Estate Owned | Q2 2020vs Q2 2019 | $0$0 |