REGULATING AGENCY: Rhode Island Department of Business Regulation; Division of Banking
- Elizabeth Kelleher Dwyer, Superintendent of Banking and Insurance
- Website: dbr.ri.gov/divisions/banking
- Credit Unions
LEAGUE: Cooperative Credit Union Association
STATS: (As of Dec 2020)
- TOTAL # SCUs: 8
- TOTAL # FCUs: 10
- SCU % OF TOTAL (SCUS #/STATE TOTAL #): 44% of 18 RI CUs
- TOTAL $ SCU ASSETS: $7,659,993,564
- TOTAL $ FCU ASSETS: $309,859,518
- TOTAL ASSETS: $7,969,853,082
- SCU % OF TOTAL ASSETS (SCUS $/STATE TOTAL $): 96%
FUN FACT: The Flying Horse Carousel is the nation’s oldest carousel. It is located in the resort town of Watch Hill.
March 09, 2021 — The Association remains active before the Rhode Island General Assembly, and is currently monitoring approximately 20 bills impactful to credit unions and their operations.
Most recently, testimony was submitted on behalf of the credit unions of Rhode Island to the Senate Committee on Judiciary on legislation relative to elder financial abuse. The companion Senate and House bills are supported by credit unions as they help further the goals and efforts to eradicate financial or material exploitation of elders’ funds, property, and assets. Notably, the bills contain extended reporting and training timeframes that were requested in oral and written testimony provided in previous legislative sessions. The full testimony is available HERE. The Association will update members with any developments.
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