At 107th Annual Meeting, Navigant Credit Union celebrates continuing growth
SMITHFIELD, RI (January 28, 2022) — Navigant Credit Union held its 107th annual shareholders meeting last week, where the credit union reported record-setting financial growth and reaffirmed its commitment to giving back to the Rhode Island communities it serves.
Setting new internal records for deposit and loan balances, the credit union closed 2021 with more than $3 billion in assets, a more than $380 million – or roughly 14.1% – increase from 2020. Navigant Credit Union also marked new all-time highs in terms of total membership (more than 120,000 members statewide) and physical presence (21 operating branches across Rhode Island, with two more set to open in early 2022).
“Thanks to our members’ trust in us, the state of Navigant Credit Union is as strong as it’s ever been in our 107-year history,” said Navigant Credit Union President/CEO Gary E. Furtado. “Our team is looking forward to leveraging our financial strength to enhance our line of products and services, and continue making a true difference in our communities and in the lives of our members. I thank each and every one of our employees, and each our members, for their contributions toward another successful year.”
Additional highlights and announcements from Navigant Credit Union’s annual meeting included:
- Announcing a bonus dividend: For the 33rd consecutive year, Navigant Credit Union members will receive a bonus dividend. This year’s bonus dividend will be equal to 20% of the interest members earned in 2021 on deposit accounts that remained open through Jan. 31, 2022. This is the largest bonus dividend Navigant Credit Union has ever awarded.
- Highlighting philanthropic activity: Over the course of 2021, Navigant Credit Union contributed nearly $1 million in grants and donations to support more than 450 nonprofit organizations operating across Rhode Island. Navigant Credit Union also announced it will make a $2.5 million deposit to the Navigant Credit Union Charitable Foundation, an independent 501(c)3 charity launched in 2017.
- Celebrating 2021 awards and recognition: For the unprecedented 11th consecutive year, Navigant Credit Union was named one of Rhode Island’s Best Places to Work by Providence Business News. Additionally, the credit union earned #1 rankings in the categories of Rhode Island’s Best Banks/Credit Unions, Best Mortgage Lenders, and Best Financial Firms in the Providence Journal’s 2021 Readers’ Choice Awards.
“Navigant Credit Union strives to be the leading community banking partner in Rhode Island, and our results in 2021 show we are fulfilling that mission every day,” said Ann M. Kashmanian, chair, Navigant Credit Union Board of Directors. “Our record-setting year in 2021 is a reflection of Navigant Credit Union’s strong leadership, and our entire team’s consistent, passionate work on behalf of our members. I thank and congratulate my fellow members of Navigant Credit Union’s community on a job well done, and I look forward to another successful year in 2022.”
Navigant Credit Union’s annual meeting was held virtually on Monday, January 24. A digital copy of the 2021 Annual Report can be found at www.navigantcu.org, or by clicking here.
About Navigant Credit Union
Based in Smithfield, R.I., Navigant Credit Union is the longest-operating member-owned credit union in Rhode Island. Since its founding in 1915, Navigant Credit Union has been dedicated to providing its members with unparalleled financial products and services while working every day to improve the financial well-being of the families, businesses, and communities it serves across Rhode Island. With more than $3.7 billion in assets, more than 150,000 members and 26 physical branch locations, Navigant Credit Union is the oldest and largest credit union in Rhode Island and among the state’s strongest and most trusted financial institutions.
Earning a five-star rating, Navigant Credit Union was listed as one of America’s best regional banks and credit unions by Newsweek in 2024. It is consistently ranked as one of Rhode Island’s Best Place to Work by Providence Business News and was rated the state’s top credit union and mortgage lender in 2022 and 2023 by the Providence Journal Readers’ Choice Awards.
Navigant Credit Union is federally insured by the NCUA.
Visit www.navigantcu.org to learn more.
