Ocean State Credit Union becomes first to establish member-owned presence in Providence’s Financial District

PROVIDENCE – Ocean State Credit Union marks its 75th anniversary by becoming the first member-owned financial institution to open a flagship branch in Providence’s Financial District, the credit union announced on Sept. 24.

A public ribbon-cutting ceremony will be held on Wednesday, inviting local businesses, community leaders and residents to celebrate alongside the Ocean State team.

“Our 75th anniversary marks not just a reflection on where we’ve been but a bold vision of where we’re going,” said Michael Garvey, CEO of Ocean State Credit Union. “The opening of our Providence branch is one of the most important milestones in our history. It signals our commitment to members through meaningful innovation and expanded financial opportunities, in the very heart of our capital city, where business and culture converge. We are 75 years young, and as we look ahead to 2026, we are preparing for an exciting new era of modernization, digital innovation and expanded financial solutions. This branch represents a new chapter for Ocean State Credit Union, and a future that is brighter than ever.”

The credit union said it plans to offer members higher deposit rates and lower loan costs, aiming to stand out in Rhode Island’s competitive financial market.

By mid-2026, the credit union plans to expand beyond traditional banking, adding an insurance brokerage, wealth management and a cutting-edge digital platform to become a full-service financial partner, the credit union said.

Ocean State Credit Union also has branches in Coventry, West Warwick, North Kingstown and Warwick.

Matthew McNulty is a PBN staff writer. He can be reached at McNulty@PBN.com or on X at @MattMcNultyNYC.