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 1,515th largest credit union in the nation. It was established in 1938 and as of September of 2022, it had grown to 20 employees and 6,971 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: gconway | Mar 6, 2019
No customer service, poor communication from the top down
Health
A
Data as of Q3 2022
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 24501 |
| Year Chartered | 1938 |
| Employees | 20 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.34% |
| Return on Equity - YTD | 3.08% |
| Annual Interest Income | $2.6MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2022vs Q3 2021 | $144.8MM$142.8MM |
| Loans | Q3 2022vs Q3 2021 | $70.5MM$66.5MM |
| Deposits | Q3 2022vs Q3 2021 | $128.1MM$125.9MM |
| Equity Capital | Q3 2022vs Q3 2021 | $16.0MM$16.2MM |
| Loan Loss Allowance | Q3 2022vs Q3 2021 | $380.00K$338.00K |
| Unbacked Noncurrent Loans | Q3 2022vs Q3 2021 | $260.00K$103.00K |
| Real Estate Owned | Q3 2022vs Q3 2021 | $0$0 |