TellerScore

Wave Federal Credit Union is a federal credit union headquartered in Warwick, Rhode Island, in business for about 88 years. At the end of Q2 2026 it reported $156.8M in total assets and $136.8M in member shares and deposits, with 2 offices.

Based on its Q2 2026 filing, Wave Federal Credit Union scores 71/100, which we describe as strong. That is higher than 54% of 1,341 credit unions with $100 million – $1 billion. Among 14 credit unions headquartered in Rhode Island, it ranks 6th. Its strongest component is funding & liquidity (100/100; 58% loans-to-deposits, 5% uninsured), and its lowest is earnings (39/100; 0.47%).

TellerScore · Q2 2026

Scorecard

Capital cushion73/100
Net worth ratio: 12.30%
Loan quality69/100
Loans 60+ days delinquent ÷ total loans: 0.93%
Earnings39/100
Return on assets (annualized): 0.47%
Funding & liquidity100/100
Loans ÷ shares: 58.4% · 5.3% uninsured
Problem-loan coverage92/100
Delinquent loans + foreclosed assets ÷ (net worth + loan-loss reserves): 3.87%

The TellerScore is our own summary of the figures this institution reports publicly; it is not issued or endorsed by any government agency. It is not a prediction, and deposits within insurance limits are protected either way.

9 quarters

Health trend

The score has been essentially flat from Q2 2025 to Q2 2026 (72 → 71).

TellerScore
717578Q2 2024Q4 2024Q2 2025Q4 2025Q2 2026
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QuarterTellerScore
Q2 202478
Q3 202475
Q4 202476
Q1 202577
Q2 202572
Q3 202577
Q4 202572
Q1 202678
Q2 202671
Net worth ratio
7.00%9.85%12.70%well-capitalized benchmarkQ2 2024Q4 2024Q2 2025Q4 2025Q2 2026
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QuarterNet worth ratio
Q2 202412.52%
Q3 202412.43%
Q4 202412.30%
Q1 202512.17%
Q2 202512.55%
Q3 202512.70%
Q4 202512.68%
Q1 202612.36%
Q2 202612.30%
Delinquent loans (60+ days)
0.22%0.62%1.02%Q2 2024Q4 2024Q2 2025Q4 2025Q2 2026
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QuarterDelinquent loans (60+ days)
Q2 20240.25%
Q3 20240.51%
Q4 20240.32%
Q1 20250.22%
Q2 20250.97%
Q3 20250.39%
Q4 20251.02%
Q1 20260.29%
Q2 20260.93%
Return on assets
0.38%0.49%0.59%Q2 2024Q4 2024Q2 2025Q4 2025Q2 2026
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QuarterReturn on assets
Q2 20240.56%
Q3 20240.49%
Q4 20240.40%
Q1 20250.38%
Q2 20250.47%
Q3 20250.51%
Q4 20250.49%
Q1 20260.59%
Q2 20260.47%
Quarter-by-quarter figures
QuarterScoreAssetsCapitalProblem loansROALoans/deposits
Q2 202671$156.8M12.30%0.93%0.47%58.4%
Q1 202678$155.0M12.36%0.29%0.59%57.2%
Q4 202572$149.2M12.68%1.02%0.49%60.3%
Q3 202577$147.6M12.70%0.39%0.51%62.1%
Q2 202572$147.7M12.55%0.97%0.47%62.0%
Q1 202577$150.7M12.17%0.22%0.38%60.5%
Q4 202476$147.9M12.30%0.32%0.40%62.1%
Q3 202475$146.0M12.43%0.51%0.49%63.9%
Q2 202478$143.8M12.52%0.25%0.56%64.0%

1,341 peers · $100 million – $1 billion

How it compares with peers

Percentile against credit unions of similar size nationwide (100th = best among peers; for ratios where lower is better, the scale is flipped).

Capital ratio12.30%
61st
Problem loans0.93%
33rd
Net charge-offs0.08%
88th
Return on assets0.47%
28th
Loans to deposits58.4%
80th
Uninsured deposits5.3%
56th
Loan-loss reserves0.00%
50th
Texas ratio3.9%
52nd

Similar-size credit unions in Rhode Island

InstitutionScoreAssetsCapitalProblem loansCompare
Ocean State Credit UnionCredit union Coventry, RI53 out of 100, Below average$350.7M11.4%1.55%vs
Rhode Island Credit UnionCredit union Warwick, RI65 out of 100, Moderate$425.1M10.4%0.38%vs
Westerly Community Credit UnionCredit union Wakefield, RI66 out of 100, Moderate$519.9M9.4%0.21%vs
The Peoples Credit UnionCredit union Middletown, RI59 out of 100, Moderate$811.2M10.0%0.57%vs
Greenwood Credit UnionCredit union Warwick, RI67 out of 100, Moderate$957.3M10.1%0.48%vs

Deposit insurance

Is my money safe at Wave Federal Credit Union?

Yes. Wave Federal Credit Union is a federally insured credit union (NCUA charter #24501). Deposits are insured by the National Credit Union Share Insurance Fund up to $250,000 per member, per insured credit union, for each account ownership category.

An estimated 5.3% of shares and deposits ($7.2M) are above the $250,000 NCUA insurance limit, close to the peer median of 6%. Insured balances are protected regardless of the score.

The net worth ratio is 12.30%, well above the 7% level regulators use as the "well capitalized" benchmark for this measure.

Check how much of your own balance is covered

2 locations

Branches

Wave Federal Credit Union lists 2 offices in 1 city. Most locations:

All branch addresses and map

HMDA 2025

Mortgage lending

In 2025, Wave Federal Credit Union reported 38 home-loan applications under HMDA (LEI 549300XPRW4X0ADUZ549): 30 originated ($1,680,000 total), 4 denied, and 4 withdrawn or closed by the applicant. Its denial rate on decided applications was 11.8%, compared with 22.2% for all lenders nationwide.

Denial rates depend heavily on loan type and applicant mix and are not a measure of fairness or of your own odds.

CFPB TCCP survey · December 31, 2025

Credit card terms

CardPurchase APRAnnual feeLate feeForeign fee
Visa Platinum11.99%$0$200.0%

All Wave Federal Credit Union card terms

Identity & history

Profile

Legal name
Wave Federal Credit Union
Type
Federal credit union
NCUA charter #
24501
RSSD ID
126197
Primary regulator
NCUA
Established
1938
Headquarters
480 Greenwich Ave, Warwick, RI 02886
Employees
24

Quick answers

Wave Federal Credit Union: common questions

Is Wave Federal Credit Union NCUA insured?

Yes. Wave Federal Credit Union is a federally insured credit union (NCUA charter #24501). Deposits are insured by the National Credit Union Share Insurance Fund up to $250,000 per member, per insured credit union, for each account ownership category.

What is Wave Federal Credit Union's TellerScore?

71 out of 100 (Strong), based on its Q2 2026 publicly reported figures. The TellerScore is our own summary and is not issued by any government agency.

How many branches does Wave Federal Credit Union have?

2 offices as of the latest NCUA data.

Nearby

Highest-scoring banks and credit unions with branches near Warwick

InstitutionScoreAssetsCapitalProblem loansCompare
Natco Employees Federal Credit UnionCredit union West Warwick, RI93 out of 100, Very strong$208K17.4%0.00%vs
Attleboro M E Federal Credit UnionCredit union Attleboro, MA90 out of 100, Very strong$24.6M13.7%0.13%vs
Charter Oak Federal Credit UnionCredit union Waterford, CT85 out of 100, Very strong$1.7B12.5%0.50%vs
First Citizens' Federal Credit UnionCredit union Fairhaven, MA83 out of 100, Strong$705.9M20.2%0.77%vs
Somerset Federal Credit UnionCredit union Somerset, MA78 out of 100, Strong$263.3M12.5%0.19%vs
Cumberland Municipal Employees Federal Credit UnionCredit union Cumberland, RI78 out of 100, Strong$9.2M19.3%0.95%vs