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 1,544th largest credit union in the nation. It was established in 1938 and as of December of 2023, it had grown to 20 employees and 6,784 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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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 Q4 2023
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 24501 |
| Year Chartered | 1938 |
| Employees | 20 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.57% |
| Return on Equity - YTD | 4.64% |
| Annual Interest Income | $5.2MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2023vs Q4 2022 | $138.5MM$141.6MM |
| Loans | Q4 2023vs Q4 2022 | $78.7MM$71.6MM |
| Deposits | Q4 2023vs Q4 2022 | $120.2MM$124.7MM |
| Equity Capital | Q4 2023vs Q4 2022 | $17.3MM$16.2MM |
| Loan Loss Allowance | Q4 2023vs Q4 2022 | $429K$354K |
| Unbacked Noncurrent Loans | Q4 2023vs Q4 2022 | $283K$24K |
| Real Estate Owned | Q4 2023vs Q4 2022 | $0$0 |