Phone: (401) 739-4600 or (866) 739-9121 | Routing Number: 211590671

GCU News and Alerts

GCU Quarterly Newsletter

spring cover greenwood

Message from the President.

If you’re like me, it’s hard to imagine anything lasting 70 years.
Typically, no matter how great a thing is, something better usually
comes along. At Greenwood, we’re very proud that for the past 70
years, we’ve made sure nothing better has come along. We’re still here,
delivering great banking value to our members every day. Part of this
stems from our original commitment to our members to work for
them, not profits. It’s still at the heart of everything we do, and why
we continue to offer the most competitive rates and banking value out
there today This has been our focus for the

To read more or download our Spring 2018 newsletter:

click Here
Business Information Center (BIC) sponsored by the Greenwood Credit Union

Business Information Center (BIC) sponsored by the Greenwood Credit Union

Avedisian recognizes Apponaug’s ‘shining star’ on final day as mayor

Scott Avedisian can be a patient man, but it’s a good thing he didn’t wait any longer.

In what was the last ribbon cutting of his more than 18 years as mayor, Avedisian did the honors Tuesday to officially open the Business Information Center (BIC) sponsored by the Greenwood Credit Union in the lower level of the Central Rhode Island Chamber of Commerce building across from Warwick City Hall. Tuesday was Avedisian’s last day of being mayor before taking on his role of chief executive officer of the Rhode Island Public Transit Authority beginning June 1.

City Council President Joseph Solomon, who assumed the role of acting mayor on Wednesday, was in the lineup behind the red ribbon. However, it was Avedisian who wielded the oversized scissors to make the opening official.

Indeed, “patience” is the operative word when it comes to the restoration of the “Victorian Lady” of Apponaug. Steven Kitchin of the New England Institute of Technology and former chairman of the chamber board of directors has headed the drive to restore the building to its glory as well as upgrade heating, plumbing and electrical service to today’s standards. On Tuesday he had to think how long it’s been before coming up with the answer of five years. During that time the condition of the building languished, its salmon paint peeling as the chamber sought to meet its goal to raise $175,000.

The city could have clamped down on its minimum housing codes, which very well could have forced the chamber out. That didn’t happen.

Chamber president and CEO Lauren Slocum thanked Avedisian and the city for their patience. She thanked Avedisian for his vision that the chamber had a place in the revitalization of Apponaug. Avedisian called the chamber “a little shining star that is one part of what Apponaug can be.”

“I wasn’t sure this day would ever come,” said Kitchin.

He said the building as it stands today is the first phase of the restoration. The second phase with a budget of $75,000 calls for additional work on the heating and air conditioning system and electrical and plumbing.

Frederick Reinhardt, president and CEO of Greenwood Credit Union, said the BIC is “designed to support small business” and for the credit union to live up to its role in support of the community. Slocum explained that Greenwood helped furnish the center that is used by a variety of groups for classes, meetings and training sessions.

In his remarks, Avedisian said that without Slocum, her leadership, support and vision the city’s business community would not be where it is today, nor would the revitalization of Apponaug.


Consumers should be on Alert for Fraudulent NCUA Text Messages

ALEXANDRIA, Va. (Sept. 6, 2016) – The National Credit Union Administration has received additional consumer calls about suspicious text messages claiming to come from the agency.

The messages read: “National Credit Union Administration Alert for (recipient’s phone number). Contact 844-234-5445.” Other fraudulent phone numbers to be alert for are 855-340-1398 and 844-906-0773.

These texts are not communications from NCUA. The agency does not seek personal information through the internet or on the telephone.

Please contact NCUA’s Consumer Assistance Center at 1-800-755-1030 between 8 a.m. and 5 p.m. Eastern if you receive one of these messages. NCUA also recommends contacting your credit union and local law enforcement as well.

You may also contact the Internet Crime Complaint Center, a partnership between the Federal Bureau of Investigation and the National White Collar Crime Center.

NCUA operates an online Fraud Prevention Center that offers information about avoiding frauds and scams on its website.

If you suspect you may have become a victim of identity theft because of this scam, you should immediately contact the three major credit bureaus and request a fraud alert be placed on your credit report: Equifax (888-766-0008), Experian (888-397-3742), and TransUnion (800-680-7289).


Greenwood Credit Union strikes again  at the Credit Unions of RI “Strike for Gold” Bowling Tournament

GCU joined 10 other RI credit unions and industry partners on March 29, 2017  to support the Special Olympics of RI and it was a huge success!

This year marks the 10th anniversary of the tournament and we could not be more proud to have been a part of it.  This annual event provides the opportunity to foster team spirit, bring the credit union community together, and support the mission of Special Olympics.

We are very proud to announce that, collectively, our 3 Greenwood Credit Union bowling teams raised just under $7,000 for the Special Olympics of RI –  with one of our teams receiving 2nd place honors in the top fundraiser category!

It was a truly rewarding experience!
A great time for a great cause!

Greenwood Credit Union strikes again at the Credit Unions of RI “Strike for Gold” Bowling Tournament

Greenwood Credit Union strikes again at the Credit Unions of RI “Strike for Gold” Bowling Tournament

Thank you!

Thanks to all who supported this very worthy cause!
We couldn’t have done it without you!

The generosity of GCU’s employees, network of members and vendors contributed to a record breaking $31,000 raised for the event!


Greenwood Credit Union Receives National Recognition;
Members Benefits Outstanding Service Award

Warwick, RI—Warwick, RI-based Greenwood Credit Union (GCU) is proud to announce that it has been honored by the Credit Union National Association, Inc. (CUNA) for being among the nation’s best in providing direct financial benefits to members. “These benefits arise from GCU’s low loan interest rates, higher-than average deposit yields, and also from the practice of imposing fewer or lower fees compared to banking institutions, “ says Cheryl Sorenson, Manager, Conference and Meetings, CUNA Councils. According to CUNA estimates, based on information recently supplied by the GCU staff, Greenwood Credit Union delivers a direct benefit of $252 per member household.

Joe Lajoie, Chief Financial Officer for GCU, was on hand at the 2013 CFO Council Conference in Phoenix, to receive the Member Benefits Outstanding Service Award on behalf of Greenwood Credit Union, in recognition of this achievement.

“I always thought GCU did more for its members than any other financial institution, and it’s nice to have an independent validation from CUNA. We rank first among credit unions under $400 million, and we are proud of that record as well as of the recognition,” comments Mr. Lajoie.

(L-R); Accepting the Award at the Credit Union National Association (CUNA) Conference Luncheon on behalf of GCU, is Chief Financial Officer, Joe Lajoie, with Jeanne Sheahan, Director of Research Services, Credit Union National Association


Fraud Alert

FRAUD ALERT: Many Rhode Island residents are receiving fraudulent phone calls attempting to convince them their debit card has been compromised. The calls are random in nature and you may receive one whether you have a debit card or not. The key to recognizing it is bogus is that the caller will ask for the card number. No one connected to Greenwood Credit Union will ever ask you for your card number. If you receive a call of this nature, do not give them any information and contact us as soon as possible. Please note that this scam is not targeting Greenwood Credit Union members specifically. Other financial institutions are experiencing the same issue. If you have received this call and have provided your debit card number to the fraudsters, please immediately call our call center at 401-739-4600 to report the issue so that your card can be blocked and a new card issued.