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RHODE ISLAND CREDIT UNION

Mar, 31, 2022 — RHODE ISLAND CREDIT UNION is a federally insured state chartered credit union headquartered in PROVIDENCE, RI with 7 branch locations and about $397.53 million in total assets. Opened 76 years ago in 1946, RHODE ISLAND CREDIT UNION has about 28,620 members and employs 79 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:http://www.ricreditunion.org
Branches:7 branch locations
Members:28,620
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, 2021
FHLB Member:Yes
Low Income Designation:No
Assets:$397,526,399
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 36,798,575
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 115,237,786
 Unsecured Loans 16,872,332
 Other Loans 115,710,835
 TOTAL LOANS 247,820,953
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -900,000
 Land And Building 6,151,846
 Other Fixed Assets 1,062,549
 NCUSIF Deposit 3,332,630
 All Other Assets 500
  TOTAL ASSETS 397,526,399
LIABILITIES & CAPITAL:  
 Dividends Payable 1,781
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 4,029,750
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 87,697,957
 Regular shares 196,098,506
 All Other Shares & Deposits 72,859,443
  TOTAL SHARES & DEPOSITS 356,655,906
  TOTAL LIABILITIES 360,687,437
 Regular Reserve 0
 Other Reserves 3,042,872
 Undivided Earnings 33,796,090
  TOTAL EQUITY 36,838,962
  TOTAL LIABILITIES, SHARES, & EQUITY 397,526,399
INCOME & EXPENSE  
 Loan Income 2,529,323
 Investment Income 201,101
 Other Income 382,512
 Total Employee Compensation & Benefits 1,608,997
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,490,311
 Non-operating Income & (Expense) 794,411
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 48,807
 Cost of Funds 82,214
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 913,080
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