SMITHFIELD, R.I.– Navigant Credit Union said that for the 33rd consecutive year it is paying out 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. It marks the largest bonus dividend Navigant Credit Union said it has ever awarded.
The announcement was made during its 107th annual shareholders meeting, where the credit union reported record-setting financial growth.
Setting new internal records for deposit and loan balances, Navigant Credit Union said it closed 2021 with more than $3 billion in assets, a more than $380 million – or roughly 14.1% – increase from 2020. It reported it also marked new all-time highs in terms of total membership, with more than 120,000 members statewide, and physical presence, with 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.”
Other Highlights
During the meeting NCU also announced:
- Over the course of 2021 it contributed nearly $1 million in grants and donations to support more than 450 nonprofit organizations operating across Rhode Island. Navigant Credit Union also said it will make a $2.5 million deposit to the Navigant Credit Union Charitable Foundation, an independent 501(c)3 charity launched in 2017.
- 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.