The $1.3 billion Navigant Credit Union in Smithfield, R.I., said it will be paying a dividend to its members for the 25th consecutive year.
The 54,300 members of the Rhode Island credit union will get 2% of interest accrued on their accounts in 2012, Navigant said.
The payback was made possible by a strong 2012 that included rapid growth and its first branches in the East Bay, President/CEO Gary Furtado said at Navigant’s recent 97th annual meeting.
Navigant reported 2012 net income, minus NCUSIF premiums and corporate bailout assessments, of $5,255,478 in its latest 5300 Call Report.
Navigant said it added new branches in the Manville section of Lincoln and Glocester’s Chepachet village, and with mergers with Carol Wire & Cable Employees FCU and Columbus Credit Union, with branches now open in Warren and in the Riverside section of East Providence.
“Because of a stellar reputation in the industry as a financial institution focused on its members and employees, Navigant Credit Union is a favored partner when other financial institutions are weighing their future options,” said Chairman Charles DeBlois.
The credit union also supported 250 Rhode Island community programs in 2012 through grants, donations, scholarships and volunteerism programs, Navigant said in its announcement.
This year, financial literacy efforts are on the schedule as are improving service through branches, online banking and mobile apps, the credit union said.