SMITHFIELD – Navigant Credit Union on Thursday announced plans to continue its intrastate expansion with the opening of two new branches in Kent County.
The new branches will be opened in Warwick and East Greenwich, and the announcement comes less than a month after the Smithfield-based credit union filed papers to acquire its first branch in Washington County.
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The three new locations will bring Navigant’s total statewide branch network to 18.
“We couldn’t be more excited to expand to both Washington County and Kent County, two areas where we’ve seen growing consumer demand for a Navigant Credit Union presence,” said Gary E. Furtado, president and CEO.
The two new branches were formerly occupied by Webster Bank. The Connecticut-based financial institution decided to close the branches in April, along with another in Cranston and New Bedford, citing a falling demand for teller services.
Navigant jumped at the opportunity.
“While other financial institutions are consolidating their footprints, we’re strengthening our commitment to Rhode Island by investing in the right opportunities to grow and strengthen our brand,” Furtado said.
In addition to the Kent County branches, the credit union on Sept. 8 filed paperwork to acquire a the South Kingstown branch, which is owned by Chartway Federal Credit Union.
Pending regulatory approvals, Navigant expects to open all three new locations by year’s end.
“We’re looking forward to becoming active members of the [communities], and working hard to earn the trust of all our new members,” Furtado said. “We take our commitment to the communities we serve very seriously. We’ll work hard to forge deep connections in our new communities, just as we’ve done in each city and town we’ve operated in for the last century.”
Navigant, with $1.8 billion in assets, has more than 81,000 statewide members.
Eli Sherman is a PBN staff writer. Email him at Sherman@PBN.com, or follow him on Twitter @Eli_Sherman.
