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iAdvertiser Disclosure
Advertiser Disclosure
Some institutions listed may have a business relationship with MonitorBankRates. Our proprietary systems independently track and verify all rates. Advertiser relationships do not influence our Safety Ratings, Star Ratings, Texas Ratio calculations, or the rates shown.
 Wave Federal Credit Union Rates & Review November 2026
Content reviewed by
Brian McKay
Brian McKayFounder & Data ArchitectExpertise
Brian is the Founder of MonitorBankRates.com. For over 18 years, he has utilized his background in enterprise infrastructure to engineer proprietary systems that track rates from over 8,000 financial institutions.
Read Full Bio →
Editorial Disclosure
The rates displayed are actual, verified rates sourced directly from the official websites of banks and credit unions. Our editorial content is independent of any advertiser relationships.
✓Fact Checked
Rates Last Updated and Verified: October 29, 2026
Wave Federal Credit Union's 14-Month CD rates are at 4.25%, 9-Month CD rates are at 4.00%, 18-Month CD rates are at 3.75%, 24-Month CD rates are at 3.75%, 36-Month CD rates are at 3.75%. Wave Federal Credit Union's savings rates are at 1.50%. Wave Federal Credit Union's checking rates are as high as 0.40%. Wave Federal Credit Union's CD rates are 15% higher than the MonitorBankRates national average, and it has an A+ health rating. MonitorBankRates evaluates the financial stability of Wave Federal Credit Union with a 5.0 Star Rating, an A+ Overall Health Grade, and a Texas Ratio of 3.78%. Rates last updated and verified on 10/29/2026. Wave Federal Credit Union money market rates, and other rates, are continually updated to reflect market conditions. We recommend checking back frequently to get the best money market rates and other rates available. Have you opened an account or have any experiences at Wave Federal Credit Union? Share your experience about Wave Federal Credit Union by leaving a review below, or read customer reviews before you decide to use Wave Federal Credit Union. Wave Federal Credit Union
Corporate Office 480 Greenwich Ave
https://www.wavefcu.org Warwick, RI 02886-1606  Customer Reviews
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Financial health data as of Q2 2026 (NCUA 5300 call report for the quarter ended June 30, 2026). This is the most recent call report available. The NCUA publishes credit union call reports about ten weeks after each quarter ends. Wave Federal Credit Union CD Rates
Wave Federal Credit Union Savings Rates
Wave Federal Credit Union Money Market Rates
Wave Federal Credit Union Checking Rates
Wave Federal Credit Union Business Checking Rates
Wave Federal Credit Union Home Equity & HELOC
Wave Federal Credit Union Other Rates
Financial Health HistoryWave Federal Credit Union’s Texas Ratio rose from 0.67% in Q3 2023 to 3.78% in Q2 2026, so its financial health has stayed very strong over the past 12 quarters. Over the same period its Star Rating moved from 5.0 to 5.0. Lower Texas Ratios are healthier — this credit union’s entire history sits far below the 15% threshold for the MBR Verified Healthy badge. Hover over or tap a point for that quarter’s figures. Swipe the chart sideways to see every quarter.
Texas Ratio, left axis (lower is healthier)MBR Star Rating, right axis (1 to 5)Health Grade
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How to read this chart: the two lines move in opposite directions by design. The Texas Ratio (blue) measures trouble, so a rising blue line means more non-performing assets against capital. The Star Rating (green) and Health Grade chips measure strength, so they fall when the Texas Ratio climbs and recover when it drops. Show the quarterly figures
Source: NCUA 5300 call reports, MonitorBankRates analysis. Ratings shown are recomputed for each quarter with the current methodology and exclude member reviews.
Methodology & Data SourcesMonitorBankRates Star Rating
Our rating for Wave Federal Credit Union is derived from comprehensive financial data published quarterly by the NCUA. Our proprietary rating system evaluates financial stability (including the Texas Ratio and capitalization) and combines it with member feedback (user reviews) to help you make informed banking decisions.
Texas Ratio
We calculate the Texas Ratio using standard industry methodology. This ratio compares the credit union's non-performing assets to its tangible common equity and loan loss reserves to assess financial health.
Rate Data Aggregation
We gather Wave Federal Credit Union rates using proprietary online rate aggregation technology. Our systems scan constantly to provide the most recent rates available to our visitors.
Disclaimer: Interest rates are variable and subject to change without notice. While we strive for accuracy, rates can change rapidly based on market conditions.
It is always advisable to check with Wave Federal Credit Union's official website for the most current offers and terms.
Credit Union Profile & Overview
Credit Union Name
Wave Federal Credit Union
Website
https://www.wavefcu.org
Address
480 Greenwich Ave,
Warwick, RI 02886-1606
Phone
401-781-1020
Fax
401-562-1290
President
Kenneth Mallette, Jr.
CEO
David Dupere
Full-Time Employees
21
Part-Time Employees
3
Branch Locations
3
ATM Locations
2
NCUA Insured
✓ Yes, up to $250,000 per depositor
FinancialsMonitorBankRates Star Rating
5.0 / 5.0 ★
Overall Health & Safety Grade
A+ (98/100)
Texas Ratio
3.78%
Return on Assets (ROA)
0.2343%
Return on Equity (ROE)
1.9047%
Non-Performing Loans Ratio (NPL)
0.93%
Total Assets
156,822,356
Total Amount of Shares and Deposits
136,793,138
Total Shares and Deposits < 1 Year
133,357,545
Total Shares and Deposits 1 3 Years
2,661,843
Total Shares and Deposits > 3 Years
773,750
Total Uninsured Member Shares and Deposits > $250K (A+A1+B+C+D+E)
7,208,975
Total Uninsured Shares and Deposits > $250K (F+J)
7,208,975
Total Insured Shares and Deposits > $250K (item 17 less item K)
129,584,163
Total Interest Expense (Sum of items 6 8)
939,691
Share Certificates
920
Number of Accounts for Share Drafts
3,800
IRA KEOGH Accounts
386
Number of Accounts for Regular Shares
8,441
Money Market Shares
170
Net Worth Classification if credit union is not new (Based upon Call Report data only See instructions)
Well Capitalized
Net Worth Classification if credit union is a new credit union
Well Capitalized
Total Cash on Deposit (Amounts Deposited in Financial Institutions)
27,444,936
Total Liabilities
137,587,597
Source: NCUA — Last Updated 06/30/2026
Customer Reviews
There are no reviews for Wave Federal Credit Union yet. Feel free to create one below.
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Visit our Community Reviews hub to read what other members are saying, ask questions, and join the conversation.
Add Your Rating and Review for Wave Federal Credit Union
Frequently Asked Questions About Wave Federal Credit UnionDoes Wave Federal Credit Union offer CDs?Yes. Wave Federal Credit Union current CD rates include its 14-Month CD at 4.25% APY, its 9-Month CD at 4.00% APY and its 18-Month CD at 3.75% APY, verified by MonitorBankRates as of October 29, 2026. Are CDs from Wave Federal Credit Union NCUA insured?Yes. Wave Federal Credit Union is insured by the National Credit Union Administration (NCUA), so CDs opened there are insured up to $250,000 per depositor, per ownership category. What is the highest CD rate at Wave Federal Credit Union?The highest Wave Federal Credit Union CD rate is its 14-Month CD at 4.25% APY, verified by MonitorBankRates as of October 29, 2026. What CD terms does Wave Federal Credit Union offer?Wave Federal Credit Union CD rates are 4.00% APY for a 9 month CD, 3.70% APY for a 12 month CD, 4.25% APY for a 14 month CD, 3.75% APY for an 18 month CD, 3.75% APY for a 2 year CD and 3.75% APY for a 3 year CD, verified by MonitorBankRates as of October 29, 2026. The institution may offer other terms or specials that are not listed here, so check with Wave Federal Credit Union for its full lineup. What is the highest money market rate at Wave Federal Credit Union?The highest Wave Federal Credit Union money market rate is its Money Market Savings Account at 1.50% APY, verified by MonitorBankRates as of October 29, 2026. What is the highest checking rate at Wave Federal Credit Union?The highest Wave Federal Credit Union checking rate is its Navigator Checking at 0.40% APY, verified by MonitorBankRates as of October 29, 2026. How many branches does Wave Federal Credit Union operate?Wave Federal Credit Union currently maintains approximately multiple branch location(s). Physical branches allow members to access in-person services such as notary consultations and safe deposit boxes. Is a member application needed to join Wave Federal Credit Union?Yes, to access services at Wave Federal Credit Union, a member application is required. As a credit union, membership is based on specific eligibility criteria such as where you live, work, or your organizational affiliations. Is there a first-time homebuyer program?Currently, Wave Federal Credit Union does not list a specific first-time homebuyer program, but they provide a range of mortgage and home equity products to assist members with property financing. Are credit management and repair services offered?While formal credit repair services are not currently listed, Wave Federal Credit Union provides members with tools to manage their accounts and build a solid financial history. Does Wave Federal Credit Union offer online and mobile banking?Most modern institutions like Wave Federal Credit Union provide digital access. This includes the ability to check balances, transfer funds, deposit checks via mobile app, and view statements online. You can usually find these services at their official website: https://www.wavefcu.org. Are all CD rates listed on MonitorBankRates federally insured?Most are. Banks are insured by the FDIC and most credit unions by the NCUA, up to $250,000 per depositor, per ownership category. A small number of credit unions are privately insured instead, and we label them on their pages. MonitorBankRates is not a bank or credit union; deposit insurance comes from the institution where you open the account. I want to open a CD with an institution listed on MonitorBankRates. How do I open the account?You open the account directly with the bank or credit union. Use the View button next to a rate to go to the institution's website, then apply online, by phone or at a branch. Credit unions require membership, so you may need to join first. Confirm the current rate and terms with the institution before you deposit. If I open a CD I found on MonitorBankRates, is my account with MonitorBankRates or the institution?Your account is with the financial institution. MonitorBankRates is a rate comparison site; we do not open accounts, hold deposits or handle your money. Why are some CD offers not available for me to open?Some offers are limited to certain states or local areas, require membership in the credit union, need a minimum deposit, or were promotions that have since ended. Rates can also change after we verify them. The institution's website has the current eligibility rules. How do Wave Federal Credit Union rates compare?Wave Federal Credit Union's CD rates are 15% higher than the MonitorBankRates national average, and it has an A+ health rating. Wave Federal Credit Union's top rates are its 14-Month CD at 4.25% APY, its Money Market Savings Account at 1.50% APY and its Navigator Checking at 0.40% APY, verified by MonitorBankRates on October 29, 2026. Current Wave Federal Credit Union Rates
Retrieved from our database of financial products. Rates subject to change.
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