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River Works Credit Union


Overview / Commentary
www.rwcu.com
781-599-0096
947 Western Ave
Lynn, MA 01905

River Works Credit Union is headquartered in Lynn and is the 54th largest credit union in the state of Massachusetts. It is also the 1,658th largest credit union in the nation. It was established in 1936 and as of June of 2023, it had grown to 21 employees and 5,459 members at 3 locations. River Works Credit Union's CD rates are 68% higher than the national average, and it 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
A

Data as of Q2 2023

Learn why bank health matters

Health Grade Components

Overall
NCUA #66346
Year Chartered1936
Employees21
Primary Regulator
Profit Margin
Return on Assets - YTD1.09%
Return on Equity - YTD8.2%
Annual Interest Income$2.7MM
Assets and Liabilities
AssetsQ2 2023vs Q2 2022$121.6MM$115.9MM
LoansQ2 2023vs Q2 2022$95.8MM$74.3MM
DepositsQ2 2023vs Q2 2022$103.7MM$99.7MM
Equity CapitalQ2 2023vs Q2 2022$15.9MM$15.0MM
Loan Loss AllowanceQ2 2023vs Q2 2022$0$318.00K
Unbacked Noncurrent LoansQ2 2023vs Q2 2022$649.00K$40.00K
Real Estate OwnedQ2 2023vs Q2 2022$0$0
Rates
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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

APYMINMAXACCOUNT NAMEVIEW DETAILS
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

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

River Works Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%*$10k*-Preferred Checking
OTHER TIERS: 0.05% → $2.5k - $10k

River Works Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.12%$500-6 Month CD Special
2.78%$500-36 Month CD
2.78%$500-48 Month CD
2.78%$500-60 Month CD
2.02%$500-24 Month CD
2.02%$500-30 Month CD
1.76%$500-18 Month CD
1.51%$500-12 Month CD
0.75%$500-3 Month CD

River Works Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.78%$500-36 Month IRA
2.78%$25k-48 Month IRA
2.02%$500-24 Month IRA
1.76%$500-18 Month IRA
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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