2025-11-13T16:58:07-06:00 2024-12-31 042689883 WOLF & COMPANY PC 255 STATE STREET BOSTON MA 02109 990 2024-01-01 050125860 NAVIGANT CREDIT UNION NAVI 4012334304 1005 DOUGLAS PIKE SMITHFIELD RI 029171206 JASON M JOLIN EVP/CFO 4012334304 2025-11-13 1 1 KAREN S NG P01067482 6174399700 2025-11-13 2024 2025-03-06 01:10:19Z JASON M JOLIN 1005 DOUGLAS PIKE SMITHFIELD RI 029171206 204818900 0 X N/A X 1915 RI THE MISSION OF NAVIGANT CREDIT UNION IS TO IMPROVE THE FINANCIAL WELL-BEING OF ITS MEMBERS. 11 2 510 1 214056 0 0 0 160900265 190215954 13278196 13825215 1018831 777731 175197292 204818900 1225898 1287569 0 0 46614726 48955934 0 0 0 106430064 137915597 154270688 188159100 20926604 16659800 3756984395 3919589889 3407568642 3544020530 349415753 375569359 X NAVIGANT CREDIT UNION IS MEMBER OWNED AND OPERATED. THE MISSION OF NAVIGANT CREDIT UNION IS TO IMPROVE THE FINANCIAL WELL-BEING OF ITS MEMBERS. IT DOES SO BY RESPONDING TO THE MEMBERS WITH THE VALUE THEY NEED AND THE CARING PERSONAL SERVICE THEY DESERVE. THIS IS ACCOMPLISHED BY PROVIDING COMPETITIVE LOAN AND DEPOSIT RATES AS WELL AS OTHER SERVICES TO OUR MEMBERS SEEK IN MANAGING THEIR FINANCES, DELIVERED BY A KNOWLEDGEABLE AND FRIENDLY STAFF. 0 0 THE CREDIT UNION IS A COOPERATIVE OWNED AND DIRECTED BY AND DEDICATED TO SERVING ITS MEMBERS. THE CREDIT UNION HAS 71,412 LOANS TOTALING $3,362,407,243 DUE FROM MEMBERS AND $3,361,524,850 IN 262,062 DEPOSIT ACCOUNTS FROM MEMBERS. ALSO $223,738 OF FEES WERE RECEIVED FROM MEMBERS RENTING 3,187 SAFE DEPOSIT BOXES. 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 1 1 1 0 0 1 71322 0 1 510 1 1 1 0 0 0 0 0 0 0 X 11 2 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X JASON M JOLIN 4012334304 1005 DOUGLAS PIKE SMITHFIELD RI 029171206 CATHERINE PARENTE DIRECTOR 1.00 X 30750 0 0 JOSEPH BERETTA DIRECTOR/CHAIRMAN 1.00 X X 31350 0 0 ROBERT MURRAY DIRECTOR 1.00 X 4000 0 0 ROLAND R LACHAPELLE DIRECTOR/VICE CHAIRMAN 1.00 X X 23222 0 0 JAMES K SALOME DIRECTOR 1.00 X 42650 0 0 GARY E FURTADO DIRECTOR 1.00 X 54422 0 0 ANN M KASHMANIAN DIRECTOR/SECRETARY 1.00 X X 0 0 0 MICHAEL RYAN DIRECTOR 1.00 X 31200 0 0 PAUL BEAUDOIN DIRECTOR 1.00 X 37150 0 0 PETER BAZIOTIS DIRECTOR 1.00 X 31050 0 0 KATHLEEN OROVITZ PRESIDENT/CEO 40.00 X X 759362 0 284221 LISA G DANDENEAU SR EVP/CASO 40.00 X 522895 0 119083 JONATHAN ROBERTS SVP/CIO 40.00 X 404034 0 93749 DAVID PELLEGRINO VP-COMPLIANCE 40.00 X 334956 0 69428 DAVID DECUBELLIS SVP/CRO 40.00 X 372064 0 80697 JASON M JOLIN EVP/CFO 40.00 X 603274 0 94750 MICHAEL J MATTONE SVP/CRBEO 40.00 X 277488 0 73698 LORI JORDAN SVP DIRECTOR OF PEOPLE & TALENT MGMT 40.00 X 222767 0 33283 ROSS SILVA AVP BUS DEV/REGIONAL LOAN OFFICER 40.00 X 240262 0 36312 JEFFREY P CASCIONE SVP DIRECTOR OF COMMERCIAL BANKING 40.00 X 321111 0 60368 LEONARDA CONTI AVP MORTGAGE LOAN OFFICER 40.00 X 198076 0 23504 FREDDIE C ALMEIDA VP RESIDENTIAL MORTGAGE ORIGINATIONS MANAGER 40.00 X 258775 0 36169 4800858 0 1005262 87 0 1 0 FISERV SOLUTIONS INC PO BOX 99924 GRAPEVINE TX 76099 DATA PROCESSING 5762246 STRATEGIC RESOURCE MANAGEMENT INC 10 CITY SQUARE 5TH FLOOR BOSTON MA 02129 CONSULTING 2564131 DIGITAL FIRST HOLDING LLC 14181 COLLECTIONS CENTER DRIVE CHICAGO IL 60693 DATA PROCESSING 2483459 CONVERGINT TECHNOLOGIES LLC ONE COMMERCE DRIVE SCHAUMBURG IL 60173 TECHNOLOGY 1682906 D3 LOGIC INC 89 COMMERCIAL WAY EAST PROVIDENCE RI 02914 DATA PROCESSING - STATEMENT RENDERING 1658580 66 INTEREST ON LOANS, INCLUDING FEES 522291 171210207 171210207 MISCELLANEOUS FEES 525990 11688354 11688354 MEMBER SERVICE FEE 525990 6292840 6078784 214056 NCU FINANCIAL 524298 1024553 1024553 190215954 12587125 12587125 1238090 0 1238090 1238090 1238090 OTHER REVENUE 900099 777731 777731 777731 204818900 190779629 214056 13825215 1249569 38000 3559867 32792881 2967243 6965916 2670027 8728 1887485 3882129 793091 9552979 5803726 164596 762524 90832803 3253233 CORRESPONDENT SERVICES 7671651 PROVISION FOR CREDIT LO 6733747 COMMISSIONS AND LOAN SE 2152300 STATE DEPOSIT & OTHER T 2034581 2382024 188159100 37418947 29517690 154574406 121909710 2011728 2041685 3128089657 3347075300 3082940 5871436 69252157 31847654 36669664 37404503 328991303 305155910 66145750 70613655 3756984395 3919589889 17191737 34337510 1546384 1539450 3388830521 3508143570 3407568642 3544020530 X 0 0 0 0 349415753 375569359 349415753 375569359 3756984395 3919589889 X 16659800 8041515 1452291 X X 0 1 X 1 0 0 1 X 9535749 9535749 41640660 18860540 22780120 17856817 12987114 4869703 218931 218931 37404503 DEPOSITS 3358365120 ACCRUED INTEREST PAYABLE 1332318 BORROWINGS 141619139 EQUIPMENT LEASE LIABILITY 68556 RE LEASE LIABILITY 6758437 3508143570 X 204791000 0 204791000 27900 27900 204818900 188132000 -27100 -27100 188159100 0 188159100 PART IV, LINE 2B: AS PART OF THE MORTGAGE AGREEMENT, AN ESCROW ACCOUNT IS MAINTAINED FOR EACH MORTGAGE WHERE ESCROW OF REAL ESTATE TAXES & HOME OWNERS INSURANCE IS REQUIRED. THE CREDIT UNION COMPLIES WITH ALL FEDERAL & STATE LAWS REGARDING DISCLOSURES AND OPERATION OF THESE ACCOUNTS. PART X, LINE 2: THE CREDIT UNION IS A NOT-FOR-PROFIT CORPORATION AS DESCRIBED IN SECTION 501(C)(14) OF THE INTERNAL REVENUE CODE (THE "CODE") AND IS GENERALLY EXEMPT FROM FEDERAL INCOME TAXES PURSUANT TO SECTION 501(A) OF THE CODE. HOWEVER, STATE-CHARTERED CREDIT UNIONS ARE SUBJECT TO FEDERAL AND STATE TAXES ON UNRELATED BUSINESS INCOME. FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023, THE CREDIT UNION DID NOT HAVE ANY INCOME TAX EXPENSE FOR UNRELATED BUSINESS INCOME. TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN, INCLUDING THE POSITION THAT THE CREDIT UNION QUALIFIES AS A TAX EXEMPT ENTITY, ARE REQUIRED TO BE EVALUATED TO DETERMINE WHETHER THE TAX POSITIONS ARE "MORE-LIKELY-THAN-NOT" TO BE UPHELD UNDER REGULATORY REVIEW. TAX POSITIONS NOT DEEMED TO MEET THE MORE-LIKELY-THAN-NOT THRESHOLD WOULD BE ACCRUED AND DISCLOSED IN THE FINANCIAL STATEMENTS. THERE ARE NO UNCERTAIN TAX POSITIONS THAT REQUIRE ACCRUAL OR DISCLOSURE AT DECEMBER 31, 2024 AND 2023. THE CREDIT UNION'S UNRELATED BUSINESS INCOME TAX RETURNS FOR FISCAL YEARS ENDED DECEMBER 31, 2021 TO PRESENT ARE SUBJECT TO REVIEW BY FEDERAL AND STATE TAXING AUTHORITIES. PART XI, LINE 4B - OTHER ADJUSTMENTS: RECLASS G/L ON DISPOSAL OF FIXED ASSETS FROM EXPENSES 28,228. RECLASS G/L ON LAWSUIT SETTLEMENT FROM EXPENSES 3,969. ROUNDING -4,297. PART XII, LINE 2D - OTHER ADJUSTMENTS: RECLASS G/L ON DISPOSAL OF FIXED ASSETS TO REVENUE -28,228. RECLASS G/L ON LAWSUIT SETTLEMENT TO REVENUE -3,969. ROUNDING 5,097. 0 BOYS & GIRLS CLUB OF NORTHERN RI 1 JAMES JMCKEE WAY CUMBERLAND RI 02864 020280121 501(C)(3) 30000 0 CHARITABLE CONTRIBUTIONS TEALL PROPERTIES GROUP LLC PO BOX 31384 CHARLOTTE NC 28231 832060347 501(C)(3) 8268 0 CHARITABLE CONTRIBUTIONS BLACKSTONE VALLEY TOURISM COUNCIL 175 MAIN STREET PAWTUCKET RI 02860 050424318 501(C)(3) 15000 0 CHARITABLE CONTRIBUTIONS LEADERSHIP RHODE ISLAND 1570 WESTMINSTER STREET PROVIDENCE RI 02909 222570460 501(C)(3) 7500 0 CHARITABLE CONTRIBUTIONS SAINT RAPHAEL ACADEMY 123 WALCOTT ST PAWTUCKET RI PROVIDENCE RI 028603222 050259066 501(C)(3) 15000 0 CHARITABLE CONTRIBUTIONS NORTHERN RHODE ISLAND CHAMBER OF COMMERCE 6 BLACKSTONE VALLEY PL LINCOLN RI 028651101 050456611 501(C)(6) 23000 0 CHARITABLE CONTRIBUTIONS PROVIDENCE WARWICK CONVENTION & VISITOR BUREAU 100 WESTMINSTER ST PROVIDENCE RI 029032311 050487503 501(C)(6) 6000 0 CHARITABLE CONTRIBUTIONS THE SANDRA FEINSTEIN-GAMM THEATRE 1245 JEFFERSON BLVD WARWICK RI 02886 222797284 501(C)(3) 10000 0 CHARITABLE CONTRIBUTIONS 6 2 SCHOLARSHIPS 24 38000 0 PART I, LINE 2: THE COMMUNITY ENGAGEMENT TEAM REVIEWS ALL APPLICATIONS AND SCORES EACH, IN 4 CATEGORIES: FINANCIAL NEED, GRADES, EXTRACURRICULAR ACTIVITIES/COMMUNITY INVOLVEMENT, AND AN ESSAY. EACH CATEGORY IS WORTH 25 POINTS. SCORING IS TOTALED AND THEN THE COMMITTEE MEETS WITH THE PRESIDENT/CEO TO REVIEW ALL APPS AND MAKE SELECTIONS. X X 1 1 X X X X 0 1 0 KATHLEEN OROVITZ PRESIDENT/CEO 594944 0 164418 0 0 0 277396 0 6825 0 1043583 0 0 0 JASON M JOLIN EVP/CFO 340107 0 77390 0 185777 0 77899 0 16851 0 698024 0 185777 0 LISA G DANDENEAU SR EVP/CASO 413551 0 104344 0 5000 0 103312 0 15771 0 641978 0 0 0 JONATHAN ROBERTS SVP/CIO 329263 0 74771 0 0 0 76196 0 17553 0 497783 0 0 0 DAVID DECUBELLIS SVP/CRO 304000 0 68064 0 0 0 63414 0 17283 0 452761 0 0 0 DAVID PELLEGRINO VP-COMPLIANCE 272501 0 59562 0 2893 0 65491 0 3937 0 404384 0 0 0 JEFFREY P CASCIONE SVP DIRECTOR OF COMMERCIAL BANKING 315876 0 0 0 5235 0 55326 0 5042 0 381479 0 0 0 MICHAEL J MATTONE SVP/CRBEO 226750 0 50738 0 0 0 56041 0 17657 0 351186 0 0 0 FREDDIE C ALMEIDA VP RESIDENTIAL MORTGAGE ORIGINATIONS 258775 0 0 0 0 0 19287 0 16882 0 294944 0 0 0 ROSS SILVA AVP BUS DEV/REGIONAL LOAN OFFICER 240262 0 0 0 0 0 19207 0 17105 0 276574 0 0 0 LORI JORDAN SVP DIRECTOR OF PEOPLE & TALENT MGMT 222767 0 0 0 0 0 17808 0 15475 0 256050 0 0 0 LEONARDA CONTI AVP MORTGAGE LOAN OFFICER 198076 0 0 0 0 0 15827 0 7677 0 221580 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS THE CREDIT UNION DOES PERMIT SPOUSES TO TRAVEL WITH MEMBERS OF SENIOR MANAGEMENT FOR CERTAIN TRIPS. NO REIMBURSEMENT IS REQUIRED BY THE EMPLOYEE. HEALTH OR SOCIAL CLUB DUES OR INITIATION FEES - THE CREDIT UNION DOES MAINTAIN MEMBERSHIPS FOR THE CREDIT UNION'S OFFICERS AT LOCAL COUNTRY CLUBS. PART I, LINE 4B DURING 2024, SEVEN MEMBERS OF SENIOR MANAGEMENT PARTICIPATED IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN ADMINISTERED BY ANGELL PENSION GROUP AND RELIANCE TRUST COMPANY. LISA G. DANDENEAU - $75,712 KATHLEEN OROVITZ - $251,796 JONATHAN ROBERTS - $48,596 JASON JOLIN - $50,299 DAVID DECUBELLIS - $45,383 DAVID PELLEGRINO - $38,695 MICHAEL MATTONE - $33,842 SCHEDULE J, PART II, COLUMN F: ONE EMPLOYEE RECEIVED COMPENSATION IN CURRENT YEAR WHICH REPORTED AS DEFERRED ON PRIOR FORM 990. JASON JOLIN - $185,777 CIDALIA C ROCHA EMPLOYEE SPLIT DOLLAR LOAN X 882893 401170 0 1 1 KEN POYTON PGE FEDERAL CREDIT UNION CEO SPLIT DOLLAR LOAN X 1250888 1640515 0 1 1 2041685 LOANS TO/FROM INTERESTED PERSONS THE CREDIT UNION GRANTS LOANS TO INTERESTED PERSONS (OFFICERS, DIRECTORS, TRUSTEES, KEY EMPLOYEES AND THE FIVE HIGHEST COMPENSATED EMPLOYEES) ON THE SAME TERMS AND CONDITIONS AS OFFERED TO OTHER MEMBERS OF THE CREDIT UNION. ACCORDINGLY, THESE TRANSACTIONS ARE NOT REPORTABLE. BUSINESS RELATIONSHIP FORM 990, PART VI, SECTION A, LINE 6 NAVIGANT CREDIT UNION IS OWNED BY ITS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERSHIP VOTE FOR THE GOVERNING BODY AND APPROVE ALL MAJOR ACTIONS OF THE GOVERNING BODY AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERSHIP VOTE FOR THE GOVERNING BODY AND APPROVE ALL MAJOR ACTIONS OF THE GOVERNING BODY AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 AND FORM 990-T ARE PREPARED BY THE CREDIT UNION'S EXTERNAL AUDIT FIRM, WOLF & COMPANY. THE FORMS ARE COMPLETED BASED UPON FINANCIAL DATA SUBJECT TO AUDIT BY WOLF & COMPANY AS WELL AS DETAIL INFORMATION PROVIDED BY THE CREDIT UNION. DETAILED REVIEWS OF FORM 990 AND 990-T ARE COMPLETED BY THE CREDIT UNION'S CFO TO ENSURE THAT ALL INFORMATION PROVIDED IS ACCURATE AND THAT THE FINANCIAL INFORMATION AGREES TO THE AUDITED FINANCIAL STATEMENTS. A REPORT OF THE RESULTS OF THE ANNUAL FINANCIAL AUDIT CONDUCTED BY WOLF & COMPANY IS MADE BY THE SUPERVISORY COMMITTEE TO THE BOARD OF DIRECTORS. THE REPORT INCLUDES THE STATEMENT THAT THE FORMS 990 AND 990-T HAVE BEEN REVIEWED IN DETAIL BY THE CFO AND CEO OF THE CREDIT UNION PRIOR TO BEING FILED. FORM 990, PART VI, SECTION B, LINE 12C THE CREDIT UNION'S CORPORATE GOVERNANCE COMMITTEE MEETS PERIODICALLY DURING THE YEAR. THE MAIN FOCUS OF THE COMMITTEE IS THE CONDUCT OF BOARD AND COMMITTEE MEETINGS. TO THAT EXTENT, ANNUAL SELF ASSESSMENTS ARE PROVIDED FOR EACH MAJOR COMMITTEE AND THE BOARD OF DIRECTORS. COMMENTS SUGGESTING IMPROVEMENTS OR OTHER ISSUES RELATING TO THE OPERATION OF COMMITTEES ARE REVIEWED. STATEMENTS OF CHANGES THE COMMITTEE PLANS, IF ANY, TO ADDRESS OR REMEDIATE THE COMMENTS MADE ARE SOUGHT FROM THE RESPECTIVE COMMITTEES. FINDINGS OF THE COMMITTEE AND BOARD SELF ASSESSMENTS AND RESULTING CORRECTIVE ACTION TAKEN, IF NEEDED, ARE REPORTED ANNUALLY TO THE BOARD. FORM 990, PART VI, SECTION B, LINE 15 THE CREDIT UNION HAS A COMPENSATION COMMITTEE MADE UP OF MEMBERS OF THE CREDIT UNION'S BOARD OF DIRECTORS. ANNUALLY, THE COMMITTEE MEETS TO REVIEW SALARY INFORMATION PROVIDED BY A NUMBER OF CREDIT UNION AND BANKING SOURCES. IN ADDITION, THE COMMITTEE CONDUCTS THE ANNUAL EVALUATION OF THE CEO. THE CEO'S EVALUATION IS DISCUSSED AMONGST BOARD MEMBERS IN EXECUTIVE SESSION. THE CEO CONDUCTS ANNUAL REVIEWS OF THE SENIOR MANAGEMENT STAFF. RESULTS OF THE PERFORMANCE EVALUATIONS ARE REPORTED TO THE COMPENSATION COMMITTEE. NO ACTION IS TAKEN BY THE COMPENSATION COMMITTEE RELATIVE TO THE SENIOR MANAGEMENT STAFF. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S BYLAWS ARE AVAILABLE UPON REQUEST OF ANY MEMBER OF THE CREDIT UNION. A COPY OF OUR BYLAWS IS ALSO MAINTAINED BY THE RI DEPARTMENT OF BUSINESS REGULATION AND WOULD BE AVAILABLE FOR INSPECTION FROM THE BANKING DIVISION IF REQUESTED. QUARTERLY, A STATEMENT OF CONDITION, CERTIFIED BY THE CREDIT UNION'S CFO AND SUPERVISORY COMMITTEE, IS MADE AVAILABLE WITHIN 45 DAYS FOLLOWING QUARTER END AS REQUIRED BY RI GENERAL LAW. THE STATEMENT OF CONDITION IS POSTED IN A CONSPICUOUS PLACE WITHIN EACH CREDIT UNION BRANCH AND THE CORPORATE OFFICE. WE CURRENTLY DO NOT MAKE OUR CODE OF BUSINESS CONDUCT AND ETHICS AVAILABLE TO MEMBERS. ALL OFFICERS AND DIRECTORS ARE PROVIDED A COPY AND REQUIRED TO ACKNOWLEDGE RECEIPT OF A COPY OF THE POLICY AND A REVIEW OF ITS PROVISIONS ANNUALLY. FORM 990, PART XI, LINE 9: FAS 158 PENSION LIABILITIES & POST RETIREMENT HEALTH BENEFITS 1,452,291. FORM 990, PART XII, LINE 2C: THERE WAS NO CHANGE IN THE OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. NCU WEALTH MANAGEMENT LLC 1005 DOUGLAS PIKE SMITHFIELD RI 02917 431968891 FINANCIAL SVC RI NCU NAVIGANT CREDIT UNION CHARITABLE FOUNDATION 1005 DOUGLAS PIKE SMITHFIELD RI 02917 815171277 GRANT MAKING RI 501(C)(3) N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0