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Wave Federal Credit Union


Overview / Commentary
www.wavefcu.org
401-781-1020
480 Greenwich Ave
Warwick, RI 02886

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 1,519th largest credit union in the nation. It was established in 1938 and as of June of 2022, it had grown to 20 employees and 6,938 members at 2 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 in the Rhode Island communities of Charlestown, Coventry, Hopkinton, Cranston, East Greenwich, Exeter, North Kingstown, Pawtucket, Providence, Richmond, West Warwick, South Kingstown, Warwick, West Greenwich or Westerly.
See current membership details

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Reviews (1)

WAVE Credit Union Is Not The Way To Go!

Posted by: |

No customer service, poor communication from the top down

2


Health
A+

Data as of Q2 2022

Learn why bank health matters

Health Grade Components

Overall
NCUA #24501
Year Chartered1938
Employees20
Primary Regulator
Profit Margin
Return on Assets - YTD0.38%
Return on Equity - YTD3.41%
Annual Interest Income$1.7MM
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$144.9MM$138.8MM
LoansQ2 2022vs Q2 2021$67.6MM$65.5MM
DepositsQ2 2022vs Q2 2021$128.0MM$121.9MM
Equity CapitalQ2 2022vs Q2 2021$16.2MM$15.6MM
Loan Loss AllowanceQ2 2022vs Q2 2021$354.00K$328.00K
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$58.00K$98.00K
Real Estate OwnedQ2 2022vs Q2 2021$0$0
Rates
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Always verify rates and promotions with the bank or credit union. We are not Wave Federal 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.

Wave Federal Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.30%*$50k*-E Savings
OTHER TIERS: 0.15% → $2k - $10k | 0.20% → $10k - $25k | 0.25% → $25k - $50k
0.15%$5-E-Share Account
0.10%$5-IRA Share Account
0.10%$5-Roth IRA Account
0.10%$5-Educational IRA Account
0.05%$5-Share Account
0.05%$5-Holiday Club Account
0.05%$5-Vacation Club Account

Wave Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.30%*$50k*-Navigator Checking
OTHER TIERS: 0.15% → Up to $10k | 0.20% → $10k - $25k | 0.25% → $25k - $50k
0.05%$5-Select Checking
0.05%$5-Classic Checking

Wave Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.75%$1k-14 Month CD Special
0.90%$1k-60 Month CD
0.70%$1k-48 Month CD
0.60%$1k-36 Month CD
0.50%$2.5k-24 Month CD
0.45%$1k-18 Month CD
0.40%$2.5k-9 Month CD
0.40%$1k-12 Month CD
0.40%$1k-15 Month CD
0.30%$2.5k-6 Month CD
0.25%$2.5k-3 Month CD

Wave Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.75%$1k-14 Month IRA Special
0.90%$1k-60 Month IRA
0.70%$1k-48 Month IRA
0.60%$1k-36 Month IRA
0.50%$2.5k-24 Month IRA
0.45%$1k-18 Month IRA
0.40%$2.5k-9 Month IRA
0.40%$1k-12 Month IRA
0.40%$1k-15 Month IRA
0.30%$2.5k-6 Month IRA
0.25%$2.5k-3 Month IRA
Locations


Wave Federal Credit Union Locations
Branch Office480 Greenwich AveWarwick, RI 02886-1606
Branch Office1217 Warwick AveWarwick, RI 02888-4109

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