Credit Unions Near Me
National Credit Union Service Organization

OCEAN STATE CREDIT UNION

Jun, 30, 2024 — OCEAN STATE CREDIT UNION is a federally insured state chartered credit union headquartered in COVENTRY, RI with 4 branch locations and about $337.27 million in total assets. Opened 75 years ago in 1950, OCEAN STATE CREDIT UNION has about 22,940 members and employs 55 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:OCEAN STATE CREDIT UNION
Address:
(Main Office)
2006 Nooseneck Hill Rd
COVENTRY, RI 02816
Phone:(401) 397-1900
Fax:(401) 397-1912
Website:https://www.oceanstatecu.org
Branches:4 branch locations
Members:22,940
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:66595
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1950
Last Audited:Sep 01, 2021
FHLB Member:Yes
Low Income Designation:No
Assets:$337,266,168
CEO/Manager:David Root
Chairperson:MICHAEL D AIRHART

Call Report

  • First Time Homebuyer Program
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 33,976,067
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 93,309,005
 Unsecured Loans 3,954,444
 Other Loans 151,783,018
 TOTAL LOANS 265,582,247
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -188,008
 Land And Building 6,797,146
 Other Fixed Assets 541,370
 NCUSIF Deposit 2,789,903
 All Other Assets 0
  TOTAL ASSETS 337,266,168
LIABILITIES & CAPITAL:  
 Dividends Payable 105,548
 Notes & Interest Payable 10,000,000
 Accounts Payable & Other Liabilities 4,780,880
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 54,423,687
 Regular shares 118,345,841
 All Other Shares & Deposits 113,231,915
  TOTAL SHARES & DEPOSITS 286,001,443
  TOTAL LIABILITIES 300,887,871
 Regular Reserve 0
 Other Reserves 5,055,399
 Undivided Earnings 31,322,898
  TOTAL EQUITY 36,378,297
  TOTAL LIABILITIES, SHARES, & EQUITY 337,266,168
INCOME & EXPENSE  
 Loan Income 7,564,261
 Investment Income 436,243
 Other Income 1,622,457
 Total Employee Compensation & Benefits 3,287,533
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 4,035,774
 Non-operating Income & (Expense) 18,553
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 162,501
 Cost of Funds 1,084,668
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 1,476,219
↑ Back to Top

Other Credit Unions

NATCO EMPLOYEES FEDERAL CREDIT UNION
155 Brookside Ave
WEST WARWICK, RI 02893
COVENTRY TEACHERS FEDERAL CREDIT UNION
9 FOSTER DR
COVENTRY, RI 02816
PAWTUCKET MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION
137 Roosevelt Ave
PAWTUCKET, RI 02860
POSTAL EMPLOYEES REGIONAL FEDERAL CREDIT UNION
40 Montgomery St
PAWTUCKET, RI 02860
COMMUNITY & TEACHERS FEDERAL CREDIT UNION
1169 S Broadway
EAST PROVIDENCE, RI 02914-4931
WOODLAWN FEDERAL CREDIT UNION
744 Main st
PAWTUCKET, RI 02860
CRANSTON MUNICIPAL EMPLOYEES CREDIT UNION
1615 Pontiac Ave
CRANSTON, RI 02920
POSTAL GOVERNMENT EMPLOYEES FEDERAL CREDIT UNION
179 W RIVER ST
PROVIDENCE, RI 02904-2610
WAVE FEDERAL CREDIT UNION
480 Greenwich Ave
WARWICK, RI 02886-1606
RHODE ISLAND CREDIT UNION
160 Francis St
PROVIDENCE, RI 02903-1118