SMITHFIELD, R.I. –Navigant Credit Union held its 100th annual shareholders meeting, where it reported strong growth and recommitted to its century-long dedication to the communities it serves.
In 2015, Navigant Credit Union’s total assets increased by 4.6%, or more than $70 million, ending the year with total assets of $1,582,366,467.
As a result of the credit union’s strong financial performance and in celebration of its 100th anniversary, members will receive a 10 percent dividend on interest earned on deposit accounts in 2015.
“We have always believed in operating in the best interest of our members and the most effective way we have done that is by taking a conservative management approach,” said Joseph R. Beretta, chairman of the credit union’s board of directors. “We are thrilled to report a year of strong growth in our 100th year, and we look forward to continue offering first-rate service to our members in 2016.”
2015 was a milestone year for Navigant Credit Union, as it marked 100 years since a group of French-Canadian immigrants pooled together their income to launch what was then known as La Credit Union de Notre Dame de Central Falls, Rhode Island’s first officially incorporated credit union, in the basement of Notre Dame Church. The neighborhood credit union officially opened March 29, 1915 with $22,110 in assets.
One hundred years, a pair of name changes and more than $1.5 billion in assets later, Navigant Credit Union said its commitment to the communities it serves has never been stronger. To celebrate its 100th anniversary, Navigant Credit Union launched “The Next 100” campaign, a yearlong effort to give back to its members, Rhode Island families and small businesses across the state.
As part of The Next 100 initiative, Navigant Credit Union sponsored a WaterFire lighting in downtown Providence, invited members and neighbors to join them at a block party in Central Falls’ Jenks Park, hosted a series of “birthday parties” at each of its branches across Rhode Island, and gave away cash prizes at McCoy Stadium during every Pawtucket Red Sox home game.
Navigant Credit Union also made several investments in the community in the form of grants, donations and sponsorships, including awarding $100,000 in college scholarships to 100 local high school students and charitable donations to the Stadium Theater in Woonsocket, Hearthside House in Lincoln, the Boys & Girls Club of Woonsocket, and the Rhode Island Air Force Memorial Committee. In total, Navigant Credit Union invested more than $500,000 – and countless volunteer hours – in efforts to make Rhode Island a better place to live and work.
“The Next 100 campaign was our way of showing our appreciation to our members, business partners and employees who are the very reason our business has succeeded for as long as it has,” said Navigant Credit Union President/CEO Gary Furtado. “We were enormously proud to honor our history this year, and we are looking forward to continuing to help Rhode Islanders realize their financial dreams for years to come."