Applications / Mortgage Analytics / Lenders / Rhode Island / Wave Federal Credit Union
Warwick, RI · Credit union · NCUA · $149 million assets · 30 loans in 2025
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30
loans originated, 2025
38
applications, 2025
1
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
Wave Federal Credit Union is a small Rhode Island lender whose mortgage lending has shrunk since 2020, to 30 loans in 2025.
It made 128 loans in 2020, 88 in 2023, 44 in 2024 and 30 in 2025. Its loans fell 32% in 2025, while similar lenders (credit unions making between half and twice as many loans) fell 2%. With so few loans, its rates and borrower shares say little.
Other purposes made up 43.3% of its loans, refinancing 40.0% and home improvement 13.3%; home purchases do not appear among them. Its typical loan was $45,000, against $95,000 at similar lenders, smaller than at almost all of them. Every loan was conventional.
It has filed since 1995 and lends in two counties in a single metro, Providence-Warwick. It ranks 301 of 475 lenders there, with a share that rounds to 0.0%. Citizens Bank leads the market, followed by United Wholesale Mortgage.
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Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. Wave Federal Credit Union took 38 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Other 43.3% · Refinance 40.0% · Home improvement 13.3% · Not applicable 3.3%
Conventional 100.0% · of 30 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 | 30 | 100.0% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Providence-Warwick | 30 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 549300XPRW4X0ADUZ549 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 126197 | 2004–2023 |
| Respondent ID (the HMDA filer code before 2018) | 524501 | 1995–2017 |
Established 1 January 1938. Reported under HMDA 1995-2025.
Mergers, name changes, data editions and corrections: Wave Federal Credit Union's data.
Wave Federal Credit Union's data
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Wave Federal 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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