River Works Credit Union


Overview / Commentary
781-599-0096
947 Western Ave
Lynn, MA 01905

River Works Credit Union is headquartered in Lynn and is the 50th largest credit union in the state of Massachusetts. It is also the 1,480th largest credit union in the nation. It was established in 1936 and as of December of 2024, it had grown to 23 employees and 5,371 members at 3 locations. River Works Credit Union has an A health rating.

Field of Membership Restrictions

Membership is open to those who live or work in Middlesex, Essex, and Suffolk Counties; current, future and former employees of General Electric Company in Lynn, Massachusetts and its affiliates (Electric Insurance, G.E. Apparatus Service Center, Butler Services, G.E. Corporate Supply, Fitness System inc., Belcan Corporation); employees, regular members and registered apprentices of IBEW Locals 103, 104, and 223.
See current membership details

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Health

Health Grade Components

Overall
NCUA #66346
Year Chartered1936
Employees23
Primary Regulator
Profit Margin
Return on Assets - YTD0.28%
Return on Equity - YTD2.6%
Annual Interest Income$7.5MM
Assets and Liabilities
AssetsQ4 2024vs Q4 2023$151.4MM$123.6MM
LoansQ4 2024vs Q4 2023$124.2MM$102.3MM
DepositsQ4 2024vs Q4 2023$133.2MM$104.5MM
Equity CapitalQ4 2024vs Q4 2023$16.5MM$16.1MM
Loan Loss AllowanceQ4 2024vs Q4 2023$206K$231K
Unbacked Noncurrent LoansQ4 2024vs Q4 2023$1.4MM$391K
Real Estate OwnedQ4 2024vs Q4 2023$0$0
Rates

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Locations


River Works Credit Union Locations
Main Office947 Western AveLynn, MA 01905-2640
Branch Office256 Freeport StDorchester, MA 02122-2845
Branch Office24 Broadway RT1 SouthLynnfield, MA 01940

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