Navigant Credit Union of Smithfield, R.I. has agreed to a merger agreement to purchase Columbus Credit Union of nearby Warren, R.I.
Financial terms of the agreement were not disclosed Wednesday. This merger marks Navigant's second credit union purchase this year. In February, Navigant acquired a branch of the $248 million Coventry CU. The transaction included the 3,000 members of Coventry's Manville branch.
"Our goal is to become the leading community banking partner in Rhode Island, and this (Columbus CU) merger is another step toward achieving that goal," said Navigant CU President/CEO Gary Furtado.
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