Ocean State Credit Union Coventry RI | Affordable Vehicle Loans & Business Banking

Introduction

Welcome to Ocean State, your trusted financial partner located right in the heart of Coventry at 1076 Main St, RI 02816. Since our establishment in 1950, we've been committed to serving our community with the highest level of care and dedication. With over 22,500 members and total assets reaching an impressive $337,099,974, we take pride in being a reliable resource for all your banking needs. At Ocean State, we understand that personal finance can be overwhelming. That's why we offer a range of services tailored to meet your individual needs from checking and savings accounts to auto loans and mortgage refinancing. Our focus is on you, ensuring that every member receives personalized attention from our dedicated team of 62 employees, led by our CEO, Michael Garvey, and Board President, Michael Airhart. While you can conveniently visit us at our branch for any inquiries or transactions, please note that if you need to send official correspondence, it should be directed to 1076 MAIN STREET, COVENTRY, RI 2816. We invite you to explore how we can support your financial journey. With total deposits amounting to $12,793,688 and cash readily available at $1,922,373, our stability allows us to provide competitive loan rates and excellent member service. Whether you're looking for guidance on loans where we currently manage 3,538 loans and leases or simply want to chat about saving strategies, we are here for you! Feel free to reach out by calling us at 401-397-1900 or visit our website at Ocean State Credit Union for more information. Your financial well-being is our priority!

Branch History & Mission

Commitment to Community

At Ocean State, we believe in giving back. Our commitment goes beyond financial transactions; it extends into the heart of Coventry and its surrounding areas. We actively engage in community outreach programs and partnerships that uplift those around us. By prioritizing local initiatives and supporting our neighbors, we create a positive impact that resonates throughout our region. We also understand the importance of convenience in today's fast-paced world. That's why we offer essential services such as online banking and mobile payments alongside traditional banking options like ATM access and drive-thru services for quick transactions.

Join Us

As we continue to grow and adapt to changing times, we invite you to become part of our family at Ocean State. Experience firsthand how we can support you on your financial journey while making a difference in our community together. For any official correspondence, please note that it should be sent to 1076 MAIN STREET, COVENTRY, RI 2816. If you're ready to take the next step toward financial empowerment and community connection, don't hesitate! Contact us at 401-397-1900 or visit our website here for more information on membership eligibility and services. Join us at Ocean State where your financial well-being meets community spirit!

Our Journey

From our humble beginnings, Ocean State has continually evolved to meet the needs of our members and the community. Located at 1076 Main St, Coventry, RI 02816, our branch is easily accessible and surrounded by local landmarks that make us a familiar face in the neighborhood. As we look back on our history, we celebrate the milestones that have shaped who we are today. Our mission is simple yet profound: to empower our members through comprehensive financial services while fostering a spirit of community support and involvement. We strive to provide personalized banking experiences that help you achieve your financial goals. Whether you're looking for checking and savings accounts, auto loans, mortgage options, or credit cards with rewards, we have tailored solutions just for you.

Branch Location & Accessibility

Contact Us

Have questions or want more information? Feel free to give us a call at 401-397-1900. We're here to provide guidance and support as you navigate your financial journey. While members can visit us at 1076 Main St, official correspondence should be sent to 1076 MAIN STREET, COVENTRY, RI 2816. We look forward to welcoming you into the Ocean State family soon!

Convenient Location

Nestled right on Main Street, our branch is close to popular local spots, making it easy for you to visit us while running errands or enjoying a day out. We have ample parking available, and our facility is equipped with ADA-compliant features to ensure everyone can access our services comfortably.

Operating Hours

We understand that life can get busy, so we've designed our operating hours to accommodate your schedule. Visit us Monday through Thursday from 9:00 AM to 4:00 PM and stop by on Fridays until 7:00 PM. Our friendly staff is always here to assist you with anything you need.

Services Offered

At Ocean State, we offer a range of services tailored to meet your banking needs. From checking and savings accounts to auto loans and mortgage refinancing, we have options for both individuals and businesses. Our drive-thru banking allows you to complete simple transactions like deposits and withdrawals without leaving your car. Plus, if you're looking for cash outside of branch hours, don't forget about our ATM availability!

Member Eligibility

At Ocean State, we believe that becoming a member means joining a supportive community that cares about your financial well-being. To be eligible for membership at our Coventry branch, you just need to live, work, worship, or attend school in Kent County or have a family member who is already a member. It's really that simple! By joining Ocean State, you'll gain access to a variety of financial products and services designed to meet your needs, from personal loans to mortgage options. If you want to learn more about the specific eligibility requirements, feel free to check out our website at this link. Getting started is easy! You can open an account by visiting us at 1076 Main St, Coventry, RI 02816. If you have any questions or need assistance along the way, don't hesitate to give us a call at 401-397-1900. We're here to help you every step of the way as you embark on this exciting journey with Ocean State!

Business Banking & Commercial Services

Merchant Services that Make a Difference

Imagine running your daily operations while knowing you have reliable merchant services backing you. Whether it's processing payments or managing transactions, our solutions are designed to simplify your day-to-day tasks. From accepting card payments to easy cash management, we equip you with the tools needed to focus on what matters most growing your business. Reach out to us today at (401) 397-1900 to learn how our business banking and commercial services can elevate your enterprise.

Tailored Loan Options

Our commitment to supporting businesses is evident, with investments in business growth through our commercial lending programs: - We've funded over $0 in commercial loans for our members, helping businesses scale and succeed. - We also support the broader business community with $0 in non-member commercial loans, providing flexible financing solutions. - With an outstanding commercial loan portfolio of $0, we continue to drive economic growth by financing new and expanding businesses.

Comprehensive List Of Services

Business Banking

For business owners, Ocean State provides essential services tailored for growth and efficiency. Our business banking includes merchant services that simplify transactions, along with various business loans designed to help you achieve your goals.

Community-Centered Approach

At Ocean State, we pride ourselves on being more than just a financial institution; we are part of the community. We encourage our members to reach out if they have questions or need guidance regarding any of our services. You can call us at 401-397-1900 during our lobby hours (M-F from 9:00 AM - 4:00 PM and Friday until 7:00 PM) for personalized assistance. As a member-focused credit union located in Coventry, RI, Ocean State is committed to helping you build a secure financial future. We invite you to explore all the ways we can support your journey by visiting us today or checking out our website at oceanstatecu.org. Your financial success starts here!

Digital Banking Convenience

In today's fast-paced world, having access to your finances anytime is crucial. That's why we offer robust online and mobile banking platforms. Whether you're checking your balance, making transfers, or paying bills, our digital features ensure that banking is at your fingertips. With options like ATM services for cash withdrawals and balance checks, plus basic drive-thru banking for quick deposits or withdrawals, managing your money has never been easier.

Loans and Credit Options

If you're looking to consolidate debt or need funds for personal projects, our personal loans are here to assist. We believe in offering flexible terms that meet your unique situation. Plus, our credit cards with rewards allow you to earn while you spend, making every purchase more rewarding.

Personal Banking

We offer various personal banking options tailored for individuals looking to manage their everyday finances. Our checking and savings accounts provide a safe space for your money while allowing you easy access when needed. For those considering buying a car or refinancing their vehicle, our auto loans and vehicle financing solutions can make the process smooth and straightforward. You can also explore our mortgage loans and refinancing options, ensuring you find the right fit for your homeownership dreams.

Digital & Online Banking

Mobile Application and Payments

For those on the go, our mobile application is perfect for managing your accounts from your smartphone. You can make mobile payments easily and securely, ensuring that you never miss a beat. Need to send money to a friend? Our person-to-person transfer feature makes it fast and hassle-free.

Online Banking Services

Our 24/7 online banking services make it easy to keep track of your finances. Whether you want to check your balance, pay bills, or transfer funds, everything is just a few clicks away. Plus, with e-statements available, you can go green while staying organized no more paper clutter!

Security and Convenience

We prioritize your security with features like electronic signature authorization for safe transactions. You can feel confident knowing that your financial information is protected while enjoying the convenience of online banking. With all these features at your fingertips, Ocean State empowers you to take control of your financial life with ease. Experience the convenience of modern banking today!

Financial Strength

A Growing Membership Base

We serve a growing community with a total of 39,304 share accounts, showing that more people trust us with their finances every day. Our net shares available for lending stand at $1,064,487, further emphasizing our commitment to helping you achieve your financial dreams. Our financial strength means we can continue serving you with confidence. Whether you're saving, borrowing, or planning for the future, Ocean State is your trusted partner. Visit us at 1076 Main St Coventry Ri 02816 or call 401-397-1900 to learn more about how we can help you achieve your financial goals.

Member-Centric Savings

Your savings are secured through $61,445,899 in share certificates and $34,689,171 in money market shares, offering stable and rewarding financial growth opportunities. Unlike traditional banks, we prioritize our members. With non-member deposits at $0, we ensure that our resources are focused on benefiting you through better loan rates, lower fees, and exclusive perks.

Operational Efficiency

Our net income of $702,061 reflects our operational efficiency, enabling us to continue offering competitive loan rates and solid financial products for our members. We also take pride in having 54 full-time employees and 8 part-time employees, ensuring our branches are always ready to serve you with a knowledgeable and committed team.

Reinvestment for Growth

With $32,789,179 in undivided earnings, we reinvest in innovative banking tools, stronger lending options, and enhanced security measures to serve our members better. Our lending capacity is robust; we currently have $39 in used auto loans and a total of $286,568,466 in loans and leases supporting your financial goals across various sectors.

Strong Financial Health

With a net worth of $38,593,810, we maintain strong financial health, allowing us to offer better rates, lower fees, and enhanced member services. Our net worth ratio of 11.45% demonstrates a solid capital foundation, ensuring that we can continue providing loans, competitive savings rates, and uninterrupted services even in uncertain economic times.

Loan Offering

Auto Loans

Looking to buy a new car? Our auto loans offer some of the lowest rates in the industry, with over $336,633 in used vehicle loans and $145,736 in new vehicle loans already helping members get on the road. Whether you're interested in financing a brand-new vehicle or a reliable used one, we have options tailored to fit your budget.

Credit Lines and Personal Loans

In addition to auto and mortgage loans, we also offer credit lines totaling $118,135,655. This provides you with the flexibility to manage unexpected expenses or fund personal projects without the stress of juggling multiple payments. We also offer flexible terms on unsecured credit card loans, with a total of $336,936 in loans helping members manage their finances effectively. These options allow you to make purchases while keeping control over your spending. At Ocean State, we prioritize helping our members find the right financial solutions tailored to their unique needs. If you're considering refinancing or want to explore eligibility options for any of our loans, don't hesitate to ask our team for assistance. For more information about our loan offerings or to apply today, visit us online at Ocean State or stop by our branch during operating hours: Monday through Thursday from 9:00 AM to 4:00 PM and Friday from 9:00 AM to 7:00 PM. Performance insights and financial data are sourced from the National Credit Union Administration (NCUA) at: https://www.ncua.gov, based on the latest results. We look forward to supporting you on your financial journey!

Mortgage Loans

Thinking about homeownership? Our mortgage options include Junior Lien 1-4 Family Residential Properties loans totaling $23,652,571, making buying or refinancing simple. We provide competitive rates and flexible terms that can help make your dream of owning a home a reality.

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OCEAN STATE CREDIT UNION - Coventry, RI

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