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RHODE ISLAND CREDIT UNION

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
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
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

Call Report

  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
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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