Government credit unions in Rhode Island provide banking services such as loans to its membership. Members of RI federal credit unions must meet a set of well-defined criteria such as membership in a non-profit group or residency within a geographical area.

Federally chartered credit unions in Rhode Island also may serve specific employee groups, known as Select Employee Groups, such as doctors or employees of a specific company. These credit unions may be able to switch to a community charter, which allows them to serve anyone who lives, works, worships or attends school within a defined area.

RI credit unions appear to be similar to banks but their tax exempt status mandates three important differences:

1. Member must own Rhode Island federal credit unions and run them as non-profit, financial cooperatives.

2. Members must elect a board of directors who must serve as unpaid volunteers.

3. A Rhode Island federally chartered credit union has a social mission that includes service to members of modest means. A credit union has restrictions on the services and products that it provides and must place restrictions on its membership.

Action Steps
The best contacts and resources to help you get it done

Locate specific Rhode Island federally chartered credit unions by name

You can easily locate federal credit unions in Rhode Island if you have some basic information about it such as its name or the location of one of its branches. A credit union's name will normally give you an idea of the basis of its membership, although the requirements for membership are frequently broader than this.

I recommend: The Nation Credit Union Administration can locate a credit union by charter number and is able to find a credit union by using a word in the credit union's name. The Credit Union Service Center provides detailed information on all of its registered credit unions within Rhode Island.

Find government credit unions in Rhode Island by location

Resources are available to locate all of the federally chartered credit unions in Rhode Island based in your area, which you may wish to do because residency is a common membership requirement for many credit unions.

I recommend: The Credit Union National Association has the ability to locate credit unions within a specified radius of a zip code or by city and state. USA Credit Unions shows all of its credit unions in Rhode Island on a single page and also has a credit union locator by name and zip code.

Join one of the local Rhode Island federal credit unions for which you qualify

Examine the membership requirements of a particular federal credit union in Rhode Island and the services that it provides to know if you are eligible to join and if it will provide the services you need.

I recommend: Westerly Community Credit Union is open to all residents of Rhode Island. Providence Postal Federal Credit Union originally restricted its membership to United States Postal Service employees but now has a much wider membership base.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Rhode Island federally chartered credit unions frequently allow a broader membership base than their name implies. Smaller credit unions may merge into a single credit union with a disparate set of membership qualifications. Additionally, an individual may usually remain a member of a credit union even after he no longer meets the membership requirements, as when a member moves or changes jobs.