Sep, 30, 2025 — RIVER WORKS CREDIT UNION is a federally insured state chartered credit union headquartered in LYNN, MA with 3 branch locations and about $185.33 million in total assets. Opened 90 years ago in 1936, RIVER WORKS CREDIT UNION has about 5,497 members and employs 25 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | RIVER WORKS CREDIT UNION |
|---|---|
| Address: (Main Office) | 947 Western Ave LYNN, MA 01905-2640 |
| Phone: | (781) 599-0096 |
| Fax: | (781) 596-2280 |
| Website: | https://www.rwcu.com |
| Branches: | 3 branch locations |
| Members: | 5,497 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 66346 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1936 |
| Last Audited: | Dec 01, 2024 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $185,329,722 |
| CEO/Manager: | Jim Donahue |
| Chairperson: | Kevin J Chiles |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 23,150,709 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 135,940,195 |
| Unsecured Loans | 449,177 |
| Other Loans | 7,487,185 |
| TOTAL LOANS | 143,876,556 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -235,853 |
| Land And Building | 1,590,942 |
| Other Fixed Assets | 547,268 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 1,128,257 |
| All Other Assets | 0 |
| TOTAL ASSETS | 185,329,722 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 11,274 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,638,687 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 20,745,532 |
| Regular shares | 38,193,847 |
| All Other Shares & Deposits | 107,731,114 |
| TOTAL SHARES & DEPOSITS | 166,670,493 |
| TOTAL LIABILITIES | 168,333,582 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 16,996,140 |
| TOTAL EQUITY | 16,996,140 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 185,329,722 |
| INCOME & EXPENSE | |
| Loan Income | 6,021,516 |
| Investment Income | 983,325 |
| Other Income | 535,161 |
| Total Employee Compensation & Benefits | 1,785,641 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 2,127,558 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 17,346 |
| Cost of Funds | 3,092,574 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 492,093 |
| ↑ Back to Top | |