Wave
Wave is a credit union based in Warwick, Rhode Island, established in 1938, with $155 million in total assets serving 6,872 members. By Trust Grade it ranks 10th of 14 credit unions we track in Rhode Island. Its net worth ratio of 12.4% is stronger than 65% of similarly sized credit unions, versus a Rhode Island median of 11.2%. It was profitable over the most recent period, with a 0.59% return on assets. Consumers filed 18 complaints about Wave Financial USA Inc. with the CFPB — 116.1 per $1B in assets, a higher rate than 92% of peers.
How Wave compares to Rhode Island peers
How we graded Wave
The Trust Grade blends financial strength with complaint history. Full methodology →
- Strongly capitalized (12.4% capital ratio)
- Profitable (ROA 0.59%)
- 116.1 complaints per $1B in assets
Consumer complaints (CFPB)
18 complaints filed with the CFPB against Wave Financial USA Inc. — 116.1 per $1B in assets.
Are deposits at Wave insured?
Yes. Wave is an NCUA-insured credit union. Deposits are federally insured up to $250,000per depositor, per ownership category — regardless of this institution's Trust Grade. The grade reflects financial strength and complaint history for comparison, not the safety of insured deposits.
Wave: frequently asked questions
Is Wave a good credit union?
Wave earns a Bankzia Trust Grade of B (86/100, "Strong"), based on a financial-strength score of 95/100 and a customer-experience score of 45.5/100. Strongly capitalized (12.4% capital ratio); Profitable (ROA 0.59%).
Is Wave NCUA-insured?
Yes. Wave is a NCUA-insured credit union. Deposits are protected up to the standard NCUA limit of $250,000 per depositor, per ownership category.
How big is Wave?
Wave holds $155 million in total assets, ranking 10th of 14 credit unions we track in Rhode Island. It serves 6,872 members.
How many complaints does Wave have?
Consumers filed 18 complaints about Wave Financial USA Inc. with the CFPB, or 116.1 per $1B in assets.
Similar Credit Unions
Financial data from NCUA call reports; complaint data from the CFPB Consumer Complaint Database. Bankzia is an independent resource and is not affiliated with any government agency or financial institution. Figures are for general information, not financial advice.
