# WAVE
WARWICK, RI · NCUA charter 24501 · asset band $100-200M · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/wave-24501

Who the members are: federal charter, community charter, organized 1938. 6,872 members of 1,600,000 potential (0.4% of the field); checking penetration 55% (share draft accounts per 100 members); loans per 100 members 52.

**Verdict on the desk:** this could be *liquidity-rich*. Composite score 1 of 18 (one point per flag across 17 flags, capital below 7% counted twice).

## What the filing shows

| Measure | Value |
|---|---|
| Total assets | $155.0M |
| Members | 6,872 (-0.3% YoY) |
| Full-time staff | 21 |
| Net worth | $19.2M |
| Net worth ratio | 12.4% (p59 of band) |
| ROA (annualized) | 0.59% (p42 of band) |
| Total delinquency | 0.29% (p22 of band) |
| Net charge-offs (annualized) | -0.03% (p3 of band) |
| Loans / shares | 57% (p28 of band) |
| Cash / assets | 32.5% |
| Borrowings / assets | 0.00% |
| Net interest margin | 3.10% (p19 of band) |
| Operating expense / assets | 2.91% (p24 of band) |
| Vehicles % of loans | 11% (p7 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 30% |
| Third-party paper % of net worth | 13% (p43 of band) |
| Vehicle delinquency | 1.41% (p83 of band) |
| Vehicle NCO | 0.00% (p8 of band) |
| Repossessed % of vehicle book | 0.16% (p84 of band) |
| Real estate % of loans | 87% |
| Credit cards % of loans | 2% |
| Unsecured % of loans | 3% |
| Commercial % of net worth | 0% |
| Core shares % of member funds | 60% |
| Certificates % of member funds | 29% |
| Average share balance | $9,834 |
| Participations bought / yr | $0 |
| Participations sold / yr | $0 |
| Participations outstanding | – |
| Loans outstanding per 100 members | 52% |
| Loans granted per 100 members, annualized | 5% |
| Average loan balance | $21,682 |
| Loans granted, annualized | $17.2M |

## Flags firing in the latest filing

- **net worth falling** (`cap_falling`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 1 | charge-offs p90 |  |
| 2016-06 | 0 |  | charge-offs p90 |
| 2016-09 | 0 |  |  |
| 2016-12 | 0 |  |  |
| 2017-03 | 0 |  |  |
| 2017-06 | 2 | net worth falling, delinquency rising |  |
| 2017-09 | 0 |  | net worth falling, delinquency rising |
| 2017-12 | 1 | delinquency rising |  |
| 2018-03 | 0 |  | delinquency rising |
| 2018-06 | 0 |  |  |
| 2018-09 | 1 | delinquency rising |  |
| 2018-12 | 1 |  |  |
| 2019-03 | 2 | net worth falling |  |
| 2019-06 | 1 |  | delinquency rising |
| 2019-09 | 0 |  | net worth falling |
| 2019-12 | 0 |  |  |
| 2020-03 | 0 |  |  |
| 2020-06 | 1 | net worth falling |  |
| 2020-09 | 1 |  |  |
| 2020-12 | 2 | margin squeeze |  |
| 2021-03 | 2 |  |  |
| 2021-06 | 0 |  | net worth falling, margin squeeze |
| 2021-09 | 1 | delinquency rising |  |
| 2021-12 | 0 |  | delinquency rising |
| 2022-03 | 2 | net worth falling, delinquency rising |  |
| 2022-06 | 0 |  | net worth falling, delinquency rising |
| 2022-09 | 1 | delinquency rising |  |
| 2022-12 | 0 |  | delinquency rising |
| 2023-03 | 0 |  |  |
| 2023-06 | 0 |  |  |
| 2023-09 | 0 |  |  |
| 2023-12 | 1 | delinquency rising |  |
| 2024-03 | 2 | repo signal |  |
| 2024-06 | 1 |  | repo signal |
| 2024-09 | 1 |  |  |
| 2024-12 | 1 | net worth falling | delinquency rising |
| 2025-03 | 1 |  |  |
| 2025-06 | 1 | delinquency rising | net worth falling |
| 2025-09 | 0 |  | delinquency rising |
| 2025-12 | 1 | delinquency rising |  |
| 2026-03 | 1 | net worth falling | delinquency rising |

## In the news (Google News, unfiltered, newest first; check the city)

- 2026-06-17 [Four Rhode Island financial institutions earn spots on Forbes best-of lists - The Business Journals](https://news.google.com/rss/articles/CBMilgFBVV95cUxQaDJVZkVwZU91NVdZeWhtZDVHaHV6dlR6UXFFSExsbnNuWUhOWUFKc1pDZUxxT0xlYl9LLWFvY3pOOWlqcUlxX3VHRXl6VTNLWGVVeDlCdy0zcHRUQlQyZlZHY2s0TVVhQ292S0R5VDZBQk1oU1M4WTV1TGt2MHdxbDZyS2VPUzVVTEpMdmhBQ2VzaFpCZ3c?oc=5) · The Business Journals
- 2026-06-30 [R.I., Conn. issue heat advisories, list local cooling centers - Westerly Sun](https://news.google.com/rss/articles/CBMi6wFBVV95cUxNSnBha0ozOUVJS0NBVDFvTzF5OURHa3FfdDJwa1h3amhEM3FRQk96M0tabmh0dW04VU9LVXRPT1J5WnBKR05RS2xCdktPRmZfVDJWdDVTamNKdHBmMi01NXZMT3h2eERWZXVocUs2SHBZZXlka0NPYlMwTlZCVkdiellYWGNFd2V1TUcwdzdrdjlaYmdXdmFwNnJGZElucG5MQWV0Z1ZYSnhGTk80SUtsUVB4d2tINFBLVUtTenNHYzVveFpiaUxsOHZCVFhPaHlwOURhZ2Vnb3NOdUlHNDNhdEpPYWd5clFxVjFj?oc=5) · Westerly Sun
- 2021-09-30 [Dupéré named president and chief executive officer at Wave Credit Union - valleybreeze.com](https://news.google.com/rss/articles/CBMi6gFBVV95cUxOZTZ6Vk50UHhGa2hVS25wLTZ1VEJjWTk0NzdOcWxfUXdSQ2VyMU1lYUJ5VjJkNEFsNjU1U3A5SG1sRW5za2dFc2RhRU13RURIWWkzMnI1S3hocXZQcmJBMF9QUHNCYjNuVmREQ0lRS2hpbzZjbE1SOGdnVkxyYXlwR1F6dVAyYXhfNUl2Y0oxdmxqMGNfUEhyUjF5VWYxbkVGWTN4aTBRZnFfS1J1SmFkM2lzRFplaldSQzA4S3NTVi1SLTdJQjAxRkhJWGJ0QUs0SGtqa1l3eGoyelJ4d3d2RHlnNFkwYjFnOUE?oc=5) · valleybreeze.com
- 2014-09-24 [Wave Credit Union Robbery Suspect Held Without Bail - WarwickPost.com](https://news.google.com/rss/articles/CBMiggFBVV95cUxONWdoSkJjZ1dsVGN2OHZaLWVDU29KSzRSN1RITmh2RFctd1h0Z25XS1lPZ1Zwa3VURlVGU3lGUVRUN1NydEVsUDg0aVVIejQwWEh4WGh4c2YtZmFBc0hlbW01LUZkcnhhUFVxQzQ1bTRaU1o2QWJ2djJTNXU4cGFxdFV3?oc=5) · WarwickPost.com
- 2026-01-24 [Closings, cancellations and delays in RI due to Sunday, Monday snowstorm - The Providence Journal](https://news.google.com/rss/articles/CBMi1wFBVV95cUxNVmJVWHo3UWtPT1ktTndHVEl0M2t4MnhpLTZxZ1VrbDRYOThjSjZCVGhLMkJHNzdUQXF4NjRyZXlvZFM4NUZQbEowa0lERmJsY3FTQ212RS1GMWNFWDlvZEtMZ2RpaVVQMWdxY3hPUC1sb2ZNRDRJcy13UF9JQS1jcE1wUnJucFBSRmlhMWZyQUhvamhDaG41VV9YaXYxdU9Ka3lCUUc3bXBFcllZY1RmVjlTRFdIb05lNXhoZllkWU1ON2xBbkZvQlRVOWx0Ymg3ZTRPdVBjUQ?oc=5) · The Providence Journal
- 2026-02-16 [27 more charged in central Pa. bank fraud conspiracy that led to $5 million in losses - PennLive.com](https://news.google.com/rss/articles/CBMixgFBVV95cUxQMDhPRWZUQTZETnhCd3ZKRzZFWmFBN1MxWmpuWWcwS0ptNmxZU0JHUkZteFZHOEY5eUU3MzAzTVRGYUl3SzIyMXQ0eVg2VjRPVlhxQnBWTXlTVHhaUS0yamlBZG1NaHVVZjkzQXhTNnVBbUh2QmpWM3lHODJ0LTM5bjl0VG92cVF1dkF4STNXQnhyT05fV0tPOFdBbVNIT3FYc2VmMnBOdThXa1I1Wm5ndXNmbkg5SkVRVUhVNnRzaERaVDdxVFE?oc=5) · PennLive.com
- 2014-09-16 [Man robs Warwick credit union - WJAR](https://news.google.com/rss/articles/CBMiakFVX3lxTE1uczI1TWlHUVVITGx6eGxzdUhkRkxVMnI1TkJqcGpmWDhZY2poWVJUZXZrYmI5djJ1X2FUUVp0TXVZTUNhTE1WTFJMNURiQUJsd25ycndZZFRHNV93WV9jTk5qY3NxZnVOWXc?oc=5) · WJAR
- 2020-04-25 [RI Banks and Credit Unions Step Forward With Pledge to Help Homeowners Facing Economic Hardship - Go Local Prov](https://news.google.com/rss/articles/CBMisgFBVV95cUxOLUM5dFFWZGVWanpZMjlWbjdVXy1KQ0xmTERRclRuVHdNT05nQXJaaHhfa0VCZUVDMGYtalcxQkYtaTVxMlRFNnNjdFVyRGEwS0RJR3hDV053Nm1mUTAxYzBPUGJneGszQTZkbnFadVJjblJXenlQRnQ0Vkw2THRSbUszODNUQXFIT1RIR3VCeG0wVkFZcXcxZGQ1WUZLRkV1UHJXbnM0Y1hHOVJINUgyWHl3?oc=5) · Go Local Prov

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=24501 (every cell opens its formula and NCUA account codes; the News tab is the same search)
- Latest row, JSON: https://getbookiq.com/cu-intel/data/summary.json · history: https://getbookiq.com/cu-intel/data/h/53.json (key "24501", columns cycle, assets, loans, shares, networth, nwr, roa, total_dq_pct, total_nco_pct, vehicle, veh_pct_loans, indirect, ind_pct_veh, ind_veh, ind_re, ind_comm, ind_other, ind_pct_loans, loans_n, granted_n_ytd, granted_ann, loan_pen, granted_pen, avg_loan_bal, loans_per_fte, veh_part, tp_pct_nw, veh_dq_pct, veh_nco_pct, repo_pct_veh, members_yoy, ltos, cash_pct, borrow_pct, nim_pct, opex_pct, risk_score, members, fte, cash_total, invest_sec, allowance_eff, int_income_ytd, int_exp_ytd, provision_eff_ytd, nonint_income_ytd, nonint_exp_ytd, net_income_ytd, n_flags, re_pct_loans, cc_pct_loans, comm_pct_loans, cert_pct_shares, core_pct_shares, part_buy_ann, part_sell_ann, pot_members, sh_draft_n, chk_pen, fom_pen, flags)
- Participation history: https://getbookiq.com/participation-desk/#cu=24501
- Field definitions: https://getbookiq.com/dictionary/#cu-ltos and the rest of the credit union dictionary
- Source: NCUA 5300 call report bulk files. Income fields are annualized by cycle month (Mar x4, Jun x2, Sep x4/3, Dec x1). Percentiles are within the asset band in the same quarter.

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Rendered 2026-09-10 from the desks' own data files. Full guide: https://getbookiq.com/guide