Introduction to Blackstone River FCU

The credit union first came into existence in 1994 and has been operating for the last 28 years. Blackstone River FCU is based in the state of Rhode Island and is also the 10th largest credit union operating in the state; this is calculated based on its total assets. Unlike banks, credit unions like Blackstone River FCU are not insured by the Federal Deposit Insurance Corporation (FDIC) but instead receive deposit insurance from the National Credit Union Administration (NCUA), which operates in a similar fashion to the FDIC. The company has a total of 2 branches and employs a total of 15 employees.

Overview of the Credit Union’s Assets and Liabilities

As previously indicated, the credit union currently has total assets of $68 million, which makes it larger than 56% of credit unions in the United States. Blackstone River FCU also has net loans outstanding to customers of $22 million and a deposit base of $62 million. In addition, the credit union has a loan to deposit ratio of 36%, which is lower than its peer group average of 55%. Generally speaking, a lower loan to deposit ratio is better as it implies that the credit union is funding more of its lending activities with deposits. Taking a closer look at the credit union’s loan portfolio, we see that auto loans represent 48% of the total and currently stands at $11 million, while there is $4 million of loans outstanding from mortgages and lines of credit which represents 19% of the credit union’s loan portfolio.

Contact and Other Helpful Information

  • Main Office Address: 10 Monument Sq, Woonsocket, RI 2895
  • Website:
  • Phone: (401) 767-1990
  • Charter Number: 24523
  • Charter Year: 1994
  • Employees: 15
  • Routing Number: 211590833
  • Membership: Credit unions in the state of Rhode Island have an average membership base of 25,848 compared with Blackstone River FCU which has total members of 4,510. Over the past three years, the credit union’s total base of members has declined by 5%.

Blackstone River FCU: Financial Overview

blackstone river fcu-balance-sheet-metrics

The above chart summarizes the trends in key balance sheet items for Blackstone River FCU. First off, it is noteworthy that across the board, all four items have increased over the past year. The credit union’s assets have expanded by 11.8% while its total loans have increased by 8.4%. In addition, the company’s auto loans have expanded by 12.4% while its deposits have expanded by 15.5%. The net worth of a credit union provides us with an idea of how the credit union has performed over the years. It is the total value that the credit union has created for its members since inception. Blackstone River FCU has a total net worth of $6 million. This implies that the credit union has a net worth per member of $1,345 which is below the national average of $1,606.

Overview of the Credit Union’s Performance Metrics

blackstone river fcu-selected-performance-metrics

The above chart shows some of the important metrics we look at when assessing a credit union, and compares these to the average credit union of comparable size. It also shows how these metrics have fared over the past year. If we take a look at Blackstone River FCU’s return on assets – which is usually a good measure of how efficiently a company is using its assets to produce profits – we see that the credit union is well above the average comparable credit union and also that over the past year ROA has improved substantially given the year over year change of 0.41%. Moving on to the credit union’s delinquency rate, which tells us how much of a credit union’s loan book is delinquent, the credit union is below its peer group on this metric and compared with the prior year it has improved. Keep in mind that a higher delinquency rate indicates a lower performing loan book so a declining rate is a favorable trend. Finally, the net worth ratio for the credit union is 9.0% which is below its peer group average of 10.2%. This metric has declined on a year over year basis and stood at 9.2% a year ago. Based on the NCUA guidelines, the credit union is considered to be well capitalized.


After factoring in all the relevant information and data, our final rating for Blackstone River FCU is 3.4 out of 5.0, which is very good. Importantly, please be aware that none of the information presented is meant to be investment advice or advice of any form. All of the information and views expressed in this note and on this site are purely for informational purposes.