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River Works Credit Union


Overview / Commentary
www.rwcu.com
781-599-0096
947 Western Ave
Lynn, MA 01905-2640

River Works Credit Union is headquartered in Lynn and is the 54th largest credit union in the state of Massachusetts. It is also the 1,629th largest credit union in the nation. It was established in 1936 and as of June of 2020, it had grown to 23 employees and 5,751 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 Q2 2020

Learn why bank health matters

Health Grade Components

Overall
NCUA #66346
Year Chartered1936
Employees23
Primary Regulator
Profit Margin
Return on Assets - YTD-0.07%
Return on Equity - YTD-0.51%
Annual Interest Income$1.8MM
Assets and Liabilities
AssetsQ2 2020vs Q2 2019$110.1MM$102.5MM
LoansQ2 2020vs Q2 2019$66.6MM$65.1MM
DepositsQ2 2020vs Q2 2019$95.1MM$87.5MM
Equity CapitalQ2 2020vs Q2 2019$14.2MM$14.1MM
Loan Loss AllowanceQ2 2020vs Q2 2019$272.00K$341.00K
Unbacked Noncurrent LoansQ2 2020vs Q2 2019$129.00K$152.00K
Real Estate OwnedQ2 2020vs Q2 2019$0$0
Rates
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Always verify rates and promotions with the bank or credit union. We are not River Works Credit Union; we are a rate comparison website and cannot provide official rates or promotions.

* 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
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

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.75%$25k-48 Month IRA
0.50%$500-24 Month IRA
0.50%$500-36 Month IRA
0.40%$500-18 Month IRA
Locations


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

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