Navigant Credit Union
- Assets
- $3.1b
- Revenue
- $117.0m
- Investments
- $0.0
- Employees
- 421
- Location
- Smithfield, RI
- Founding
- 05/1984
- Data as of
- 12/2021
- EIN
- 05-0125860
Organization Overview
Navigant Credit Union is located in Smithfield, RI. The organization was established in 1984. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Navigant Credit Union employed 421 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Navigant Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.
For the year ending 12/2021, Navigant Credit Union generated $117.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.2% each year . All expenses for the organization totaled $85.0m during the year ending 12/2021. While expenses have increased by 8.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Navigant Credit Union has awarded 142 individual grants totaling $3,934,174. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF NAVIGANT CREDIT UNION IS TO IMPROVE THE FINANCIAL LIVES OF ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CREDIT UNION IS A COOPERATIVE OWNED AND DIRECTED BY AND DEDICATED TO SERVING ITS MEMBERS. THE CREDIT UNION HAS 49,277 LOANS TOTALING $2,474,247,034 DUE FROM MEMBERS AND $2,731,310,342 IN 238,331 DEPOSIT ACCOUNTS FROM MEMBERS. ALSO $207,664 OF FEES WERE RECEIVED FROM MEMBERS RENTING 7,039 SAFE DEPOSIT BOXES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary E Furtado President/treasurer | OfficerTrustee | 40 | $1,844,107 |
Lisa G Dandeneau Sr Evp/coo | Officer | 40 | $437,610 |
Jason M Jolin Evp/cfo | Officer | 40 | $322,671 |
Ross Silva Avp-Bus. Dev/regional Loan | 40 | $320,888 | |
Kathleen Orovitz Evp/crbo | Officer | 40 | $298,396 |
Jonathan Roberts Svp/cio | Officer | 40 | $290,641 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ncr Corporation Fka Intuit Financial Ser Data Processing | 12/30/21 | $1,745,173 |
Fiserv Solutions Inc Data Processing | 12/30/21 | $7,018,974 |
Bowerman & Associates Architectural | 12/30/21 | $1,091,904 |
Decibel Media Llc Advertising Services | 12/30/21 | $1,133,829 |
D3 Logic Inc Data Processing - Statement Rendering | 12/30/21 | $984,026 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $107,727,747 |
| Investment income | $4,745,913 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $10,800 |
| Net Gain/Loss on Asset Sales | $985,981 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $116,968,150 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,456,401 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $4,022,324 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $21,819,983 |
| Pension plan accruals and contributions | $2,359,357 |
| Other employee benefits | $5,543,949 |
| Payroll taxes | $1,994,347 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,172,196 |
| Advertising and promotion | $2,818,408 |
| Office expenses | $765,079 |
| Information technology | $6,302,710 |
| Royalties | $0 |
| Occupancy | $3,778,746 |
| Travel | $43,746 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $297,572 |
| Interest | $15,153,781 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,395,005 |
| Insurance | $0 |
| All other expenses | $1,835,049 |
| Total functional expenses | $84,961,155 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $23,064,560 |
| Savings and temporary cash investments | $130,268,408 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $401,170 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,461,460,082 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,993,213 |
| Net Land, buildings, and equipment | $34,440,137 |
| Investments—publicly traded securities | $382,157,805 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $47,870,136 |
| Total assets | $3,081,655,511 |
| Accounts payable and accrued expenses | $22,310,890 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $1,488,958 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,756,577,105 |
| Total liabilities | $2,780,376,953 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $301,278,558 |
| Total liabilities and net assets/fund balances | $3,081,655,511 |
Grants Awarded
Over the last fiscal year, Navigant Credit Union has awarded $2,750,000 in support to 22 organizations.
| Grant Recipient | Amount |
|---|---|
Smithfield, RI PURPOSE: CHARITABLE CONTRIBUTIONS | $2,500,000 |
Pawtucket, RI PURPOSE: CHARITABLE CONTRIBUTIONS | $25,000 |
Providence, RI PURPOSE: CHARITABLE CONTRIBUTIONS | $25,000 |
BOYS & GIRLS CLUB OF NORTHERN RI PURPOSE: CHARITABLE CONTRIBUTIONS | $23,500 |
Smithfield, RI PURPOSE: CHARITABLE CONTRIBUTIONS | $16,000 |
Providence, RI PURPOSE: CHARITABLE CONTRIBUTIONS | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Navigant Credit Union Smithfield, RI | $3,081,655,511 | $116,968,150 |
Metro Credit Union Chelsea, MA | $2,510,941,078 | $92,937,477 |
American Eagle Financial Credit Union Incorporated East Hartford, CT | $2,355,398,570 | $80,581,273 |
Coastal1 Credit Union Pawtucket, RI | $2,840,412,596 | $91,925,616 |
Jeanne Darc Credit Union Lowell, MA | $1,792,528,408 | $59,293,841 |
Harvard University Employees Credit Union Cambridge, MA | $1,037,994,144 | $42,695,601 |
Sharon & Cresent United Credit Union Sharon, MA | $1,214,608,643 | $40,886,511 |
St Annes Credit Union Of Fall River Mass Fall River, MA | $1,266,762,131 | $34,865,858 |
Sikorsky Financial Credit Union Inc Stratford, CT | $1,094,000,567 | $34,623,993 |
Leominster Credit Union Leominster, MA | $813,719,349 | $30,410,755 |
St Marys Credit Union Inc Marlborough, MA | $985,400,554 | $32,310,700 |
Connex Credit Union Inc North Haven, CT | $868,570,264 | $30,771,499 |