Wave Federal Credit Union in Rhode Island vs the state
10.8%Denial rate-7.89 pts vs state
12.1%Decision denial rate-11.05 pts vs state
78.4%Origination rate+18.63 pts vs state
7.75%Median rate+1.00 pts vs state
—Rate spread (pts)
$89kMedian applicant income
29Loans originated
4Denied
Trend in Rhode Island
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 105 | 84 | 11.4% | 7.00% | #58 |
| 2024 | 43 | 38 | 4.7% | 7.75% | #93 |
| 2025 | 37 | 29 | 10.8% | 7.75% | #113 |
What Wave Federal Credit Union lends in Rhode Island
By loan purpose
By loan type
Why it denied Rhode Island applicants
Where in Rhode Island
Counties with the most Wave Federal Credit Union applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| Kent County | 24 | 19 | 3 | 12.5% |
| Providence County | 12 | 10 | 1 | 8.3% |
| Washington County | 1 | 0 | 0 | 0.0% |
Other large lenders in Rhode Island
| Lender | Grade | Applications | Denial rate | Median rate |
|---|---|---|---|---|
| Citizens Bank | C | 6,329 | 27.8% | 7.40% |
| Navigant Credit Union | B | 2,847 | 16.1% | 6.50% |
| COASTAL1 Credit Union | B | 1,931 | 24.3% | 6.75% |
| The Washington Trust Company, of Westerly | C | 1,755 | 21.9% | 6.38% |
| Rocket Mortgage | C | 1,430 | 19.7% | 6.75% |
| Movement Mortgage | A | 1,308 | 3.6% | 6.63% |
| Bank of America | F | 1,298 | 39.1% | 6.24% |
| Primary Residential Mortgage | C | 1,056 | 8.4% | 6.63% |
| BankNewport | B | 1,014 | 19.7% | 6.63% |
| CMG Mortgage | A | 992 | 7.6% | 6.63% |
Frequently asked questions
Rhode Island: 37 applications in 2025, of which 29 were originated and 4 denied.
10.8% of all applications, or 12.1% of the applications it actually decided on. The Rhode Island statewide average across all lenders was 18.7%.
The median rate on loans Wave Federal Credit Union originated in Rhode Island in 2025 was 7.75%, against a statewide median of 6.75%.
About this data. Figures are Wave Federal Credit Union's own HMDA filing for properties located in Rhode Island, 2025. The grade is national; state-level figures are shown for context and are not separately graded. Methodology