Mar, 31, 2022 — WAVE FEDERAL CREDIT UNION is a federal credit union headquartered in WARWICK, RI with 2 branch locations and about $147.09 million in total assets. Opened 84 years ago in 1938, WAVE FEDERAL CREDIT UNION has about 6,912 members and employs 22 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | WAVE FEDERAL CREDIT UNION |
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Address: (Main Office) | 480 Greenwich Ave WARWICK, RI 02886-1606 |
Phone: | (401) 781-1020 |
Fax: | (401) 562-1290 |
Website: | https://www.wavefcu.org |
Branches: | 2 branch locations |
Members: | 6,912 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 24501 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1938 |
Last Audited: | Dec 01, 2021 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $147,090,034 |
CEO/Manager: | David P Dupere |
Chairperson: | Kenneth M Mallette, Jr. |
ASSETS: | $ Amount |
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Cash & Equivalents | 28,984,874 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 53,510,652 |
Unsecured Loans | 2,423,145 |
Other Loans | 9,512,942 |
TOTAL LOANS | 65,446,739 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -380,236 |
Land And Building | 3,352,272 |
Other Fixed Assets | 353,180 |
NCUSIF Deposit | 1,191,099 |
All Other Assets | 0 |
TOTAL ASSETS | 147,090,034 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 694,332 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 31,338,214 |
Regular shares | 68,277,395 |
All Other Shares & Deposits | 30,587,108 |
TOTAL SHARES & DEPOSITS | 130,202,717 |
TOTAL LIABILITIES | 130,897,049 |
Regular Reserve | 0 |
Other Reserves | 4,498,712 |
Undivided Earnings | 11,694,273 |
TOTAL EQUITY | 16,192,985 |
TOTAL LIABILITIES, SHARES, & EQUITY | 147,090,034 |
INCOME & EXPENSE | |
Loan Income | 648,265 |
Investment Income | 160,127 |
Other Income | 174,514 |
Total Employee Compensation & Benefits | 364,549 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 504,429 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 19,293 |
Cost of Funds | 60,413 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 236,679 |
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