River Works Credit Union

Overview / Commentary
947 Western Ave
Lynn, MA 01905

River Works Credit Union is headquartered in Lynn and is the 56th largest credit union in the state of Massachusetts. It is also the 1,666th largest credit union in the nation. It was established in 1936 and as of June of 2021, it had grown to 22 employees and 5,722 members at 2 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 Grade Components

NCUA #66346
Year Chartered1936
Primary Regulator
Profit Margin
Return on Assets - YTD0.41%
Return on Equity - YTD3.22%
Annual Interest Income$1.5MM
Assets and Liabilities
AssetsQ2 2021vs Q2 2020$116.7MM$110.1MM
LoansQ2 2021vs Q2 2020$66.6MM$66.6MM
DepositsQ2 2021vs Q2 2020$100.4MM$95.1MM
Equity CapitalQ2 2021vs Q2 2020$14.8MM$14.2MM
Loan Loss AllowanceQ2 2021vs Q2 2020$269.00K$272.00K
Unbacked Noncurrent LoansQ2 2021vs Q2 2020$39.00K$129.00K
Real Estate OwnedQ2 2021vs Q2 2020$0$0
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

River Works Credit Union Savings Account Rates

0.30%$25-IRA Accumulator
0.05%$25-Share Savings Account
0.05%$25-Holiday Club
0.05%$25-Fuel Club
0.05%$25-Vacation Club

River Works Credit Union Money Market Rates

0.30%*$25k*-Money Market Account
OTHER TIERS: 0.10% $1.5k - $10k | 0.15% $10k - $25k

River Works Credit Union Checking Account Rates

0.10%*$10k*-Preferred Checking
OTHER TIERS: 0.05% $2.5k - $10k

River Works Credit Union CD Rates

0.75%$500-48 Month CD
0.75%$500-60 Month CD
0.50%$500-24 Month CD
0.50%$500-36 Month CD
0.50%$500-30 Month CD
0.40%$500-18 Month CD
0.30%$500-6 Month CD
0.30%$500-12 Month CD
0.25%$500-3 Month CD

River Works Credit Union IRA Rates

0.75%$25k-48 Month IRA
0.50%$500-24 Month IRA
0.50%$500-36 Month IRA
0.40%$500-18 Month IRA

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

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