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 |
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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 |
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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 |
ASSETS: | $ Amount |
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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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