Federal credit union · WARWICK, Rhode Island · NCUA charter #24501
Wave
Health score 83/100 (Excellent) - from the NCUA 5300 Call Report, 2025Q4.
- 83
- Health / 100
- $149.2M
- Total assets
- 6,849
- Members
- 9.5%
- Net-worth ratio
Wave - Share Insurance Coverage
Below: composite supervisory bracket and risk-based capital for charter #24501, per the 2025Q4 NCUA Call Report. Our deposit-insurance coverage note explains how the $250,000 NCUSIF ceiling works.
Wave - Five Health Pillars
The five bars below are this credit union's pillar-level 0-100 sub-scores. Sum the weighted pillars and you get the headline health score above - same NCUA 5300 data, no normalisation tricks applied.
- Capital (net worth ratio)96
- Asset quality (delinquency)79
- Earnings (ROA)89
- Member growth55
- Liquidity (loan-to-share)86
Weighted composite: 83/100 - each bar is the 0–100 sub-score; the composite weights them 30/25/15/15/15.
At 9.48%, this credit union is above the 7.0% NCUA well-capitalized threshold under PCA rules.
Financial Health Metrics
| Metric | Value | Weight |
|---|---|---|
| Net Worth Ratio | 9.48% | 30% |
| Delinquency Rate | 1.02% | 25% |
| Return on Assets | 0.39% | 15% |
| Member Growth | -0.45% | 15% |
| Loan-to-Share Ratio | 60.34% | 15% |
Health score = weighted composite of above metrics. Scores based on NCUA 5300 Call Report Q4 2025 data. Peer group: $100M–$500M (1069 CUs).
Historical Financials
| Quarter | Assets | Members |
|---|---|---|
| 2025Q4 | $149.2M | 6,849 |
| 2024Q4 | $147.9M | 6,880 |
| 2023Q4 | $138.5M | 6,784 |
Credit Union Details
- Charter Number
- 24501
- Type
- Federal
- Field of Membership
- Community
- Peer Group
- $100M–$500M
- State
- Rhode Island
- City
- WARWICK
- Data Quarter
- 2025Q4
What This Data Says About Wave
Wave is a federal credit union headquartered in WARWICK, Rhode Island, serving 6,849 members with $149.2M in total assets and $78.2M in outstanding loans as of Q4 2025. Based on its five-factor composite, the institution earns a health score of 83/100 (Excellent), anchored by a net worth ratio of 9.48% - above the 7.0% NCUA "well capitalized" threshold under Prompt Corrective Action rules. Charter #24501 operates under peer group $100M–$500M, a cohort of 1069 similarly-sized institutions.
Deposits deployed into lending sit at a 60.34% loan-to-share ratio, within the 60-80% range most industry analysts consider optimally balanced between yield and liquidity. Loan quality, meanwhile, shows 1.02% of the book 60+ days past due - the peer group average for $100M–$500M credit unions sits at 0.894%, so this institution is running looser than peers. Return on assets stands at 0.39% on net income of $585K for the period; a not-for-profit cooperative typically runs a modest positive ROA, returning surplus to members through better rates and lower fees rather than to shareholders.
Year-over-year membership changed by -0.45%. All of the above reflects the 2025Q4 quarterly NCUA 5300 Call Report. Who can join depends on the field of membership (currently: Community); our disclaimer covers NCUSIF deposit-insurance coverage and how to use this data responsibly.
Nearby Credit Unions in Rhode Island
A look at other Rhode Island credit unions, ranked by how closely their peer group and asset size match this one.
Sources & disclaimer
Source: NCUA 5300 Call Report, Q4 2025. Source: NCUA Share Insurance Fund (NCUSIF), federal deposit insurance up to $250,000. Not affiliated with NCUA. For informational purposes only.
Frequently Asked Questions
Is Wave financially healthy?
Yes/no aside, the number is 83/100 (Excellent) - Wave's financial health score from the NCUA 5300 Call Report, Q4 2025. Above 80 reads excellent, below 50 warrants closer monitoring; a 9.48% net worth ratio and 1.02% delinquency rate are the key drivers.
How does Wave compare to other credit unions?
Wave scores 83/100 on PlainCU's health composite, compared to a peer group average for $100M–$500M credit unions. The score is based on five NCUA-reported metrics: net worth ratio (30%), delinquency rate (25%), return on assets (15%), member growth (15%), and loan-to-share ratio (15%).
What is a credit union health score?
A credit union health score is a composite rating (0–100) that combines five financial metrics reported to the NCUA: net worth ratio (capital adequacy), delinquency rate (loan quality), return on assets (profitability), member growth, and loan-to-share ratio (liquidity balance). Scores above 80 indicate excellent financial health; 60–79 is good; 40–59 is fair; below 40 is weak.
How can I join Wave?
Wave operates under a community charter, meaning membership is generally open to anyone who lives, works, worships, or attends school within its defined geographic service area, no employer or association tie required. Contact Wave directly for the exact boundaries and application steps.
Is my money safe at Wave?
Federal credit unions like Wave are insured by the National Credit Union Share Insurance Fund (NCUSIF), administered by the NCUA. Each individual depositor is insured up to $250,000, the same limit as FDIC-insured banks. Wave's net worth ratio of 9.48% exceeds the 7% threshold NCUA considers "well capitalized."
What rates does Wave offer compared to banks?
Credit unions like Wave are not-for-profit cooperatives, which typically allows them to offer higher savings rates and lower loan rates than banks. Nationally, credit unions average 0.25–0.50% lower auto loan rates and 0.10–0.30% higher savings yields. Contact Wave directly for current rates, or compare overall credit union vs bank rates on our rates comparison page.
Read our methodology - how this data is sourced, computed, and verified.
Every figure on PlainCU is rendered directly from NCUA quarterly call report data, no number is typed in by an editor. Credit union figures are computed directly from NCUA quarterly call report data, no figure is typed in by an editor. See our editorial standards & corrections policy, the methodology behind these numbers, or report a data error.