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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 57th largest credit union in the state of Massachusetts. It is also the 1,723rd largest credit union in the nation. It was established in 1936 and as of September of 2022, it had grown to 23 employees and 5,495 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
A

Data as of Q3 2022

Learn why bank health matters

Health Grade Components

Overall
NCUA #66346
Year Chartered1936
Employees23
Primary Regulator
Profit Margin
Return on Assets - YTD0.05%
Return on Equity - YTD0.41%
Annual Interest Income$2.4MM
Assets and Liabilities
AssetsQ3 2022vs Q3 2021$112.9MM$115.6MM
LoansQ3 2022vs Q3 2021$84.5MM$66.8MM
DepositsQ3 2022vs Q3 2021$96.6MM$98.8MM
Equity CapitalQ3 2022vs Q3 2021$15.1MM$14.9MM
Loan Loss AllowanceQ3 2022vs Q3 2021$323.00K$287.00K
Unbacked Noncurrent LoansQ3 2022vs Q3 2021$32.00K$18.00K
Real Estate OwnedQ3 2022vs Q3 2021$0$0
Rates

Rates for River Works Credit Union are currently being reviewed.

Locations


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

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