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RHODE ISLAND CREDIT UNION

Dec, 31, 2023 — RHODE ISLAND CREDIT UNION is a federally insured state chartered credit union headquartered in PROVIDENCE, RI with 7 branch locations and about $400.91 million in total assets. Opened 78 years ago in 1946, RHODE ISLAND CREDIT UNION has about 28,007 members and employs 100 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:RHODE ISLAND CREDIT UNION
Address:
(Main Office)
160 Francis St
PROVIDENCE, RI 02903-1118
Phone:(401) 751-7440
Fax:(401) 751-0189
Website:https://www.ricreditunion.org
Branches:7 branch locations
Members:28,007
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:67269
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1946
Last Audited:Dec 01, 2022
FHLB Member:Yes
Low Income Designation:No
Assets:$400,909,586
CEO/Manager:David B Suvall
Chairperson:Jane F Correia

Call Report

  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 4,439,603
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 122,537,968
 Unsecured Loans 18,706,177
 Other Loans 142,549,591
 TOTAL LOANS 283,793,736
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -1,600,000
 Land And Building 8,029,005
 Other Fixed Assets 2,332,929
 NCUSIF Deposit 3,478,371
 All Other Assets 38,000
  TOTAL ASSETS 400,909,586
LIABILITIES & CAPITAL:  
 Dividends Payable 38,243
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 4,667,135
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 82,100,759
 Regular shares 168,487,726
 All Other Shares & Deposits 107,921,222
  TOTAL SHARES & DEPOSITS 358,509,707
  TOTAL LIABILITIES 363,215,085
 Regular Reserve 0
 Other Reserves 2,927,120
 Undivided Earnings 34,767,381
  TOTAL EQUITY 37,694,501
  TOTAL LIABILITIES, SHARES, & EQUITY 400,909,586
INCOME & EXPENSE  
 Loan Income 12,673,338
 Investment Income 1,177,481
 Other Income 1,573,373
 Total Employee Compensation & Benefits 7,195,785
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 6,662,075
 Non-operating Income & (Expense) 159,831
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 455,888
 Cost of Funds 2,375,164
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -72,520
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