Jun, 30, 2024 — RHODE ISLAND CREDIT UNION is a federally insured state chartered credit union headquartered in PROVIDENCE, RI with 7 branch locations and about $401.48 million in total assets. Opened 79 years ago in 1946, RHODE ISLAND CREDIT UNION has about 28,992 members and employs 80 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: | 28,992 |
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, 2021 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $401,484,834 |
CEO/Manager: | David B Suvall |
Chairperson: | Jane F Correia |
ASSETS: | $ Amount |
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Cash & Equivalents | 6,762,474 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 121,519,822 |
Unsecured Loans | 16,707,243 |
Other Loans | 140,265,591 |
TOTAL LOANS | 278,492,656 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -900,000 |
Land And Building | 6,008,190 |
Other Fixed Assets | 907,760 |
NCUSIF Deposit | 3,382,711 |
All Other Assets | 500 |
TOTAL ASSETS | 401,484,834 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 1,623 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 5,528,394 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 86,898,499 |
Regular shares | 196,662,356 |
All Other Shares & Deposits | 74,002,877 |
TOTAL SHARES & DEPOSITS | 357,563,732 |
TOTAL LIABILITIES | 363,093,749 |
Regular Reserve | 0 |
Other Reserves | 3,130,371 |
Undivided Earnings | 35,260,714 |
TOTAL EQUITY | 38,391,085 |
TOTAL LIABILITIES, SHARES, & EQUITY | 401,484,834 |
INCOME & EXPENSE | |
Loan Income | 7,902,998 |
Investment Income | 742,136 |
Other Income | 1,171,552 |
Total Employee Compensation & Benefits | 4,769,785 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 4,716,291 |
Non-operating Income & (Expense) | 1,705,342 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 153,444 |
Cost of Funds | 258,573 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 2,377,704 |
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