Navigant Adding Branch Near Rhode Island Coast
The tiny state’s branch count has slowly grown, while the count dwindles for New England.
Rhode Island’s largest credit union has announced plans to expand by opening a new branch close to the Atlantic next month.
Navigant Credit Union of Smithfield, R.I., 10 miles northwest of Providence ($3.7 billion in assets, 150,214 members), is opening a new branch in North Kingston, 20 miles south of Providence near the mouth of Greenwich Bay in mid-July.
Navigant’s June 11 news release said the new branch is designed to better serve families and businesses located in southern Rhode Island. It will be the 109-year-old credit union’s first branch in North Kingstown, its third in southern Rhode Island and its 26th statewide, excluding its headquarters and a disaster recovery office.
“We are proud to offer this new branch location as the latest addition to our growing portfolio of in-person, online and mobile services our members across the state can utilize to fulfill their banking needs and improve their financial well-being,” President/CEO Kathy Orovitz said. “We look forward to meeting new and existing members in and around North Kingstown when we officially open our doors in July.”
Assistant Vice President Stephanie Northup will be manager of the new branch.
NCUA data showed Navigant had 27 branches and other locations on March 31, one more than a year earlier.
While New England’s branch count has been declining since 2019, Rhode Island’s has grown slightly.
NCUA data showed Rhode Island had 83 branches in March, unchanged since December 2022. From December 2019 to December 2022, the state added five branches. Meanwhile, New England has lost 65 branches since the end of 2019, including 24 last year.
Navigant’s new branch will be the fourth credit union branch in North Kingston. One is operated by the state’s second-largest credit union: Coastal1 Credit Union of Pawtucket ($3.3 billion in assets, 140,602 members), which had 19 locations in the state in March, one more than a year earlier.
The other two North Kingston branches belong to Ocean State Credit Union of Coventry, R.I. ($346.3 million in assets, 22,859 members) and The People’s Credit Union of Middletown, R.I. ($712.1 million in assets, 40,170 members).