Rhode Island Credit Union is headquartered in Providence and is the 7th largest credit union in the state of Rhode Island. It is also the 860th largest credit union in the nation. It was established in 1946 and as of September of 2019, it had grown to 74 employees and 26,774 members at 6 locations. Rhode Island Credit Union's money market rates are 70% higher than the national average, and it 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
Related Posts
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 Q3 2019
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 67269 |
| Year Chartered | 1946 |
| Employees | 74 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.4% |
| Return on Equity - YTD | 4.05% |
| Annual Interest Income | $8.5MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2019vs Q3 2018 | $281.9MM$275.9MM |
| Loans | Q3 2019vs Q3 2018 | $229.2MM$217.2MM |
| Deposits | Q3 2019vs Q3 2018 | $249.6MM$244.7MM |
| Equity Capital | Q3 2019vs Q3 2018 | $27.9MM$26.8MM |
| Loan Loss Allowance | Q3 2019vs Q3 2018 | $1.1MM$800.00K |
| Unbacked Noncurrent Loans | Q3 2019vs Q3 2018 | $614.00K$397.00K |
| Real Estate Owned | Q3 2019vs Q3 2018 | $0$0 |