Michael Solomon has joined Navigant Credit Union as first vice president, leading its commercial lending division. With more than 30 years in New England banking, he most recently served as regional president for commercial lending at Customers Bank. At Navigant, Solomon will oversee loan underwriting, business development and strategies to grow the credit union’s commercial portfolio.
PBN: With more than 30 years of experience in New England banking, what industry trends are you seeing that will most influence Navigant’s commercial lending strategy in the next few years?
SOLOMON: One of the most significant trends already shaping our strategy, and that will continue to do so in the coming years, is technology. We’ve seen a surge in tools that help deliver products more efficiently and enhance the quality of service across the board. Our members increasingly expect digital-first solutions, like top-tier online banking platforms and industry-leading security protections.
Navigant Credit Union has invested heavily in maintaining strong digital systems that match up with tools offered by larger, national banks. Plus, what really sets us apart from the pack is our local decision-making power. We can respond quickly and competitively to member needs without waiting on approvals from out-of-state offices. That agility is a real competitive advantage, and it's a core part of our strategy moving forward.
PBN: What are Navigant’s immediate priorities in the commercial lending portfolio, and how do you plan to balance growth with risk management in the current economic climate?
SOLOMON: Our immediate focus is on strengthening the relationships we already have by ensuring our commercial portfolio is aligned with the evolving needs of our members. That means proactively recommending ways to improve operational efficiency and deliver personalized support – all of which helps deepen the member relationship.
From a broader credit union perspective, we’re focused on balanced growth. The opportunities are out there, and through strong underwriting practices, market awareness and trend analysis, our team is well-positioned to grow strategically and exponentially.
PBN: Navigant has a strong presence in Rhode Island. How do you see your division supporting the state’s small and midsized businesses in a post-pandemic economy?
SOLOMON: I’ve seen firsthand the impact Navigant Credit Union has on its members and the larger Rhode Island business community. Before joining the team in my current role, my family had held accounts here. It’s nearly impossible to work in banking in Rhode Island and not know Navigant Credit Union. We’re deeply rooted in the community, with more than 110 years of service and we’ve built a reputation as the state’s most trusted credit union. That kind of legacy doesn’t happen by accident.
In a post-pandemic economy, we believe that with disruption comes opportunity. Navigant Credit Union is uniquely suited to serve small and midsized businesses across the state. Our long-standing mission, combined with the strength of our brand and deep local presence, positions us to continue supporting businesses, including those that may have been historically underserved, with the tools and expertise they need to succeed.
PBN: How will your experience working with diverse financial institutions across the region inform your leadership style and decision-making at Navigant?
SOLOMON: I’ve had the opportunity to work at institutions of all sizes, from small community banks to large, national organizations, and that exposure has given me a solid understanding of what works and what doesn’t when it comes to serving members. I’ve developed a strong sense of what’s important from the customer’s point of view, and I bring that lens to every decision.
At Navigant Credit Union, I’m excited to be joining a high-performing team that’s led by leaders like Dave DeCubellis and Jeff Cascione. This team has earned recognition time and again as the best lenders working in Rhode Island. Navigant Credit Union has built a solid, well-performing commercial portfolio, and my goal is to play my part in building on that momentum and helping our team embark on its next phase of growth.
PBN: What opportunities or sectors do you believe are under-leveraged within Navigant’s current commercial portfolio, and how might you guide the credit union toward those areas for future expansion?
SOLOMON: Navigant Credit Union has developed a strong commercial lending portfolio and a statewide presence, with 25 physical branches across Rhode Island. Our investment in digital tools and a comprehensive suite of services positions us well to pursue opportunities with lower middle-market businesses that may be underserved in the current landscape.
We’ve done a great job serving businesses of all sizes, operating in all sectors across Rhode Island. Now, we’re looking to expand our reach into segments that require more-sophisticated solutions; the kind we’re now fully equipped to deliver. Navigant Credit Union has always been a forward-looking institution, and we’ll continue to evaluate where the market is headed and identify smart, strategic areas for growth.
Matthew McNulty is a PBN staff writer. He can be reached at McNulty@PBN.com or on X at @MattMcNultyNYC.
