Credit Unions Near Me
National Credit Union Service Organization

RIVER WORKS CREDIT UNION

Dec, 31, 2023 — RIVER WORKS CREDIT UNION is a federally insured state chartered credit union headquartered in LYNN, MA with 3 branch locations and about $123.56 million in total assets. Opened 88 years ago in 1936, RIVER WORKS CREDIT UNION has about 5,388 members and employs 24 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 211383985
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:5,388
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, 2022
FHLB Member:Yes
Low Income Designation:No
Assets:$123,557,822
CEO/Manager:Jim Donahue
Chairperson:Kevin J Chiles

Call Report

  • First Time Homebuyer Program
  • International Remittances

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 7,397,302
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 92,845,190
 Unsecured Loans 594,456
 Other Loans 8,881,522
 TOTAL LOANS 102,321,168
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -231,094
 Land And Building 1,651,655
 Other Fixed Assets 721,628
 NCUSIF Deposit 952,591
 All Other Assets 0
  TOTAL ASSETS 123,557,822
LIABILITIES & CAPITAL:  
 Dividends Payable 32,934
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 2,945,350
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 17,037,739
 Regular shares 36,365,283
 All Other Shares & Deposits 51,101,493
  TOTAL SHARES & DEPOSITS 104,504,515
  TOTAL LIABILITIES 107,482,799
 Regular Reserve 0
 Other Reserves 0
 Undivided Earnings 16,075,023
  TOTAL EQUITY 16,075,023
  TOTAL LIABILITIES, SHARES, & EQUITY 123,557,822
INCOME & EXPENSE  
 Loan Income 5,112,929
 Investment Income 654,124
 Other Income 674,179
 Total Employee Compensation & Benefits 2,074,801
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 2,238,164
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -99,590
 Cost of Funds 1,349,680
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 865,914
↑ Back to Top

Other Credit Unions

LYNN MUNICIPAL EMPLOYEES CREDIT UNION
3 CITY HALL SQUARE, ROOM 104
LYNN, MA 01901
LYNN TEACHERS CREDIT UNION
33 N COMMON ST
LYNN, MA 01902-4311
REVERE FIREFIGHTERS CREDIT UNION
199 Revere St
REVERE, MA 02151
REVERE FIREFIGHTERS CREDIT UNION
199 Revere St
REVERE, MA 02151
LYNN FIREMENS FEDERAL CREDIT UNION
30 Boston St Ste 9
LYNN, MA 01904
MASSACHUSETTS FAMILY CREDIT UNION
51 Willow St
LYNN, MA 01901
MASSACHUSETTS FAMILY CREDIT UNION
PO BOX 615
LYNN, MA 01903
LYNN POLICE CREDIT UNION
300 Washington St
LYNN, MA 01902
REVERE MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION
281 BROADWAY
REVERE, MA 02151
MALDEN FEDERAL CREDIT UNION
10 Holden St
MALDEN, MA 02148