2014-04-28T08:42:08-04:00 2013-12-31 WOLF & COMPANY PC 99 HIGH STREET 21ST FLOOR BOSTON MA 02110 990 2013-01-01 050125860 Navigant Credit Union % DANIEL J O'BRIEN NAVI 4012334304 1005 DOUGLAS PIKE Suite SMITHFIELD RI 029171206 Daniel J O'Briend CFO 4012334304 2014-04-15 true Michael J Rowe CPA 6174399700 2014-04-14 2013 2015-11-30 17:44:51Z Daniel J O'Brien 1005 Douglas Pike Smithfield RI 029171206 64856944 false X N/A X 1915 RI THE MISSION OF NAVIGANT CREDIT UNION IS to improve the financial lives of its members. 11 10 309 490893 0 0 42583041 46812844 10091750 5978149 1682 972572 52676473 53763565 0 0 0 0 17107746 16766209 0 0 0 31256626 31353203 48364372 48119412 4312101 5644153 1325675739 1459041512 1174758581 1291459853 150917158 167581659 Navigant credit union is member owned and operated. The mission of Navigant Credit Union is to improve the financial lives 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 our member seek in managing their finances, delivered by a knowledgeable and friendly staff. false false THE CREDIT UNION IS A COOPERATIVE OWNED AND DIRECTED BY AND DEDICATED TO SERVING ITS MEMBERS. THE CREDIT UNION HAS 34,035 loans totalling $1,055,323,963 DUE FROM MEMBERS AND $1,150,439,903 IN 128,136 Deposit ACCOUNTS FROM MEMBERS. ALSO $142,193 OF FEES WERE RECEIVED From MEMBERS RENTING 5,336 SAFE DEPOSIT BOXES. false false false false false false false true false true false false false true false true false false false false false false false false false false false false true false true false false true true false false false false true false false false true 31096 0 true 309 true true true false false false false false X 11 10 false false false false true true true true true false false true true true true true true true true false X DANIEL J O'BRIEN 4012334304 1005 DOUGLAS PIKE SMITHFIELD RI 029171206 PAUL BEAUDOIN Supervisory Committee 1.0 X 12525 0 0 DONALD CHEVRETTE Credit Committee 4.0 X 13137 0 0 STEPHEN CROSS Supervisory Committee 1.0 X 9000 0 0 CHARLES DEBLOIS DIRECTOR 1.0 X 35865 0 0 ALFRED DEGEN VICE CHAIRMAN 1.0 X 12675 0 0 ANN KASHMANIAN DIRECTOR 1.0 X 12225 0 0 ROLAND LACHAPELLE DIRECTOR 1.0 X 31415 0 0 MAURICE RHAULT Credit Committee 4.0 X 21531 0 0 GARY FURTADO PRESIDENT/TREASURER 40.0 X X 439245 0 240415 JOSEPH BERETTA DIRECTOR 1.0 X 19425 0 0 ROBERT MURRAY Supervisory Committee 1.0 X 12300 0 0 MICHAEL RYAN DIRECTOR 1.0 X 12000 0 0 JEAN M RYAN SUPERVISORY COMMITTEE 1.0 X 12000 0 0 JAMES K SALOME DIRECTOR 1.0 X 12000 0 0 PETER BAZIOTIS DIRECTOR 1.0 X 12000 0 0 Claire O'Rourke Supervisory committee member 1.0 X 9000 0 0 LISA G DANDENEAU EVP/COO 40.0 X 241041 0 39135 DANIEL J O'BRIEN SVP/CFO 40.0 X 202083 0 35132 FREDERICK III REINHARDT SVP/CLO 40.0 X 207273 0 35507 KATHLEEN OROVITZ SVP-Retail Banking 40.0 X 161219 0 31188 KENNETH SENUS SVP-IT 40.0 X 176068 0 32529 H Chris Der Vartanian SVP/CRO 40.0 X 144947 0 9416 JEFFREY P CASCIONE VP 40.0 X 136787 0 15914 MELISSA A CARLTON VP 40.0 X 123634 0 9330 Freddie C Almeida Mortgage Originator 40.0 X 201066 0 17815 Leonarda M Conti Mortgage Originator 40.0 X 151329 0 5264 CIDALIA ROCHA VP - PROJECT MANAGEMENT 40.0 X 122121 0 20505 2543911 0 492150 26 false true false FISERV 75 REMITTANCE DRIVE - SUITE 6944 CHICAGO IL 606756944 DATA PROCESSING 779607 intuit fka digital insight corpor PO BOX 515306 LOS ANGELES CA 900516606 data processing 676913 ANTHONY STEVEN WALSH DBA FRIENDS FAMILY 35 NORTH BEND PAWTUCKET RI 02860 JANITORIAL 391489 bowerman associates inc one richmond square suite 220E PAWTUCKET RI 02860 architectual 471570 Duffy United 10 charles street PROVIDENCE RI 02904 advertising services 752412 31 0 INTEREST ON LOANS 39871662 39871662 MEMBER SERVICE FEE 525990 3937422 3817396 120026 MISCELLANEOUS FEES 525990 2643700 2603635 40065 MFS FEES INCOME 524298 360060 29258 330802 46812844 5261290 5261290 0 0 0 0 0 11074692 735546 11093379 -18687 735546 716859 716859 0 0 0 REIMBURSED CONVERSION COSTS 900099 950000 950000 MISC INCOME 900099 22572 22572 972572 53763565 47294523 490893 5978149 0 0 0 0 1769876 0 10937205 336781 2627655 1094692 0 512308 0 0 0 0 474215 1795189 618928 2710734 0 2248225 35090 0 203465 12672870 0 1930556 0 PROVISION FOR LOAN LOSSES 1967953 MEMBER & NCUA INSURANCE 853397 CORRESPONDENT SERVICES 1670024 COMMISSIONS AND LOAN SERVICING 836542 2823707 48119412 12825367 13179291 80319372 17836314 0 0 0 0 0 240702 0 0 829639325 1049312887 0 0 711707 1196572 43684241 16055277 26927736 27628964 350686305 301463324 0 0 0 0 0 0 24565927 48183458 1325675739 1459041512 24052309 13272886 0 0 0 0 0 0 712109 1159994 0 0 0 0 0 0 1149994163 1277026973 1174758581 1291459853 X 0 0 0 0 150917158 167581659 150917158 167581659 1325675739 1459041512 X 5644153 -3101353 14121701 X false true X true false false true 8026561 8026561 25097173 7580184 17516989 10086827 8475093 1611734 473680 473680 27628964 0 DEPOSITS 1150649994 ACCRUED INTEREST PAYABLE 1200336 BORROWINGS 125176643 1277026973 57598090 3834525 3834525 53763565 53763565 51953937 3456187 3456187 48497750 -378338 -378338 48119412 schedule d, page 2, 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. Schedule d, Page 4, Part XI: Line 2d: Curtailment Charge $3,456,187 Reclass Pension to expenses 378,338 ---------- $3,834,525 Schedule D, Page 4, Part XII: Line 2D: Curtailment Charge $3,456,187 Line 4D: Reclass Pension From Revenue $378,338 X X true true X X X X false true false LISA G DANDENEAU EVP/COO 200385 0 32900 0 7756 0 26898 0 12237 0 280176 0 0 0 GARY FURTADO PRESIDENT/TREASURER 359539 0 76950 0 2756 0 227611 0 12804 0 679660 0 0 0 DANIEL J O'BRIEN SVP/CFO 173200 0 21500 0 7383 0 23191 0 11941 0 237215 0 0 0 FREDERICK III REINHARDT SVP/CLO 175423 0 23500 0 8350 0 22875 0 12632 0 242780 0 0 0 JEFFREY P CASCIONE VP 110161 0 25000 0 1626 0 4055 0 11859 0 152701 0 0 0 KATHLEEN OROVITZ SVP-Retail Banking 140969 0 20250 0 0 0 18837 0 12351 0 192407 0 0 0 KENNETH SENUS SVP-IT 149231 0 24000 0 2837 0 20032 0 12497 0 208597 0 0 0 Freddie C Almeida Mortgage Originator 50546 0 150520 0 0 0 6032 0 11783 0 218881 0 0 0 Leonarda M Conti Mortgage Originator 48959 0 102370 0 0 0 0 0 5264 0 156593 0 0 0 H Chris Der Vartanian SVP/CRO 135947 0 9000 0 0 0 4348 0 5068 0 154363 0 0 0 SCHEDULE J, PART I, LINE 1A The credit union does permit spouses to travel with members of senior management for certain trips. No reimbursement is required by the employee. Expenses are reported as taxable benefits. SCHEDULE j, PART I, LINE 1A The credit union does maintain a membership for the credit union's CEO at a local country club. SCHEDULE J, PART I, LINE 4B During 2013, SIX MEMBERS OF SENIOR MANAGEMENT participated in a supplemental nonqualified retirement plan administered by Angell Pension Group and Reliance Trust Company. Lisa G. Dandeneau $19,750 Gary E. Furtado $220,111 Daniel J. O'Brien $17,200 Kathleen C. Orovitz $14,000 Frederick W. Reinhardt III $17,420 Kenneth L. Senus $14,750 CIDALIA C ROCHA EMPLOYEE X 0 240702 false true true 240702 Jeffrey P Cascione Brother of law FIRM PTNR 6691 LEGAL SERVICES false SCHEDULE L, PART II 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, there are no reportable transactions. Schedule L, Part IV Jeffrey P. Cascione's brother, is a partner in a law firm that the Credit Union does business with. Jeff is not involved in the decision of the Credit Union to use the services of the law firm. FORM 990 PART VI SECTION A LINE 10 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 insure that all information provided is accurate and that the financial information agrees to the audited financial statements. A copy of Forms 990 and 990-T are available for review by the Supervisory Committee and the Board of Directors prior to the filing of said forms. 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 that 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. In addition, an annual update from the credit union's legal counsel as to the duties and responsibilities of the board and committees is conducted. FORM 990 PART VI SECTION B LINES 15A AND 15B 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 CEOS 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 CONFLICT OF INTEREST POLICY AVAILABLE TO MEMBERS. ALL EMPLOYEES 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 Page 6 Part VI Section A Lines 6, 7a & 7b Navigant Credit Union is owned and operated by its members. The membership vote for the governing body and approve all major actions of the governing body at the annual meeting. Form 990 page 12 Part XI Line 9 FAS 158 Pension liabilities 11,074,562 Net assets acquired from merger with Columbias Credit Union 3,047,139 ------------ Net Other increases to net assets 14,121,701 ============ NCU WEALTH MANAGEMENT LLC 1005 DOUGLAS PIKE SMITHFIELD RI 029171206 431968891 FINANCIAL SVC RI 0 0 NCU