Applications / Mortgage Analytics / Lenders / Rhode Island / Ocean State Credit Union
Coventry, RI · Credit union · NCUA · $342 million assets · 87 loans in 2025
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87
loans originated, 2025
126
applications, 2025
5
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
Ocean State Credit Union is a manufactured-home lender: just over half of its 87 loans in 2025 financed manufactured homes, a kind of lending the typical similar credit union does not do at all.
Manufactured homes made up 51.7% of its loans, a higher share than at almost all of the 530 similar lenders (credit unions making between half and twice as many loans), whose typical share was none. Most of its lending, 62.1%, was for home purchase. It lends in five states from its Rhode Island base.
Low- and moderate-income (LMI) borrowers took 54.0% of its loans, against 30.5% at the typical similar lender, a share higher than at more than nine in ten of them. In 2020 the figure was 33.4%. Its loans in poorer neighborhoods (LMI tracts), at 18.4%, sat near the middle of its peers.
Its higher-priced share, loans at a rate well above the average for similar loans, was 5.8%, against 3.5% for the typical peer; its typical rate was 7.00%, against 6.75%. Manufactured-home loans may account for the difference: they are often priced above loans on site-built houses.
It made 87 loans in 2025, down 22% from 111, while similar lenders grew by 7% and the whole market by 10%. On numbers this small one year says little. The longer run is starker: it made 641 loans in 2020, when its typical rate was 2.94% and cheap money may have drawn in borrowers who have not been back since.
Similar lenders: same lender type, originations between half and twice the lender's in the data year. Written from the 2025 HMDA data and checked figure by figure against it.
FIG. 1 — LOANS ORIGINATED, 2018–2025
Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. Ocean State Credit Union took 126 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Purchase 62.1% · Refinance 19.5% · Home improvement 18.4%
Conventional 100.0% · of 87 loans. Purchase: buying a home. Refinance: replacing an existing mortgage, including cash-out. FHA: insured by the Federal Housing Administration. VA: guaranteed by the Department of Veterans Affairs. Conventional: neither.
SOURCE: FFIEC HMDA 2025, LOANS ORIGINATED
Where it lends, 2025
| State | Loans | Share |
|---|---|---|
| Rhode Island | 49 | 56.3% |
| New Hampshire | 21 | 24.1% |
| Massachusetts | 8 | 9.2% |
| Maine | 5 | 5.7% |
| Connecticut | 4 | 4.6% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Providence-Warwick | 49 |
| Rockingham County-Strafford County | 20 |
| Portland-South Portland | 4 |
| Boston | 3 |
| Cambridge-Newton-Framingham | 3 |
| Barnstable Town | 2 |
| Hartford-West Hartford-East Hartford | 2 |
| Lewiston-Auburn | 1 |
| New Haven | 1 |
| Worcester | 1 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 549300OITV2T766YLP15 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 318796 | 2004–2023 |
| Respondent ID (the HMDA filer code before 2018) | 566595 | 1990–2017 |
Established 1 January 1950. Reported under HMDA 1990-2025.
Mergers, name changes, data editions and corrections: Ocean State Credit Union's data.
Ocean State Credit Union's data
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Ocean State Credit Union and its peers, 2018–2025: every application in the HMDA data, cleaned and corrected, as Parquet files, with the Jenner programs that made these pages.
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Every mortgage application reported under HMDA from 1990 to 2025, cleaned and corrected, every lender followed across name changes and mergers, with the market-share and fair-lending tables behind these pages and the Jenner programs that built them: the warehouse and the datamart, as Parquet files.
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