Overview / Commentary
Wave Federal Credit Union is headquartered in Warwick and is the 8th largest credit union in the state of Rhode Island. It is also the 1,525th largest credit union in the nation. It was established in 1938 and as of June of 2024, it had grown to 21 employees and 6,871 members at 3 locations. Wave Federal Credit Union has an A health rating.
Field of Membership Restrictions
Wave Federal Credit Union is open to those who live, work, worship, or attend school State of Rhode Island or Bristol County Massachusetts.
See current membership details
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Health
A
Data as of Q2 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 24501 |
| Year Chartered | 1938 |
| Employees | 21 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.56% |
| Return on Equity - YTD | 4.51% |
| Annual Interest Income | $3MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2024vs Q2 2023 | $143.8MM$142MM |
| Loans | Q2 2024vs Q2 2023 | $80.1MM$73.8MM |
| Deposits | Q2 2024vs Q2 2023 | $125.2MM$124.4MM |
| Equity Capital | Q2 2024vs Q2 2023 | $17.7MM$16.8MM |
| Loan Loss Allowance | Q2 2024vs Q2 2023 | $419K$399K |
| Unbacked Noncurrent Loans | Q2 2024vs Q2 2023 | $197K$42K |
| Real Estate Owned | Q2 2024vs Q2 2023 | $0$0 |