2013-05-02T07:49:26-05:00 2012-12-31 WOLF & COMPANY PC 99 HIGH STREET 21ST FLOOR BOSTON MA 02110 990 2012-01-01 050125860 Navigant Credit Union % DANIEL J O'BRIEN NAVI 4012334304 1005 DOUGLAS PIKE Suite SMITHFIELD RI 029171206 Daniel J O'Brien 4132334304 2013-05-01 true Michael J Rowe CPA 6174399700 2013-04-30 2012 2016-02-25 16:41:14Z Daniel J O'Brien 1005 Douglas Pike Smithfield RI 029171206 60812089 false X N/A X 1915 RI THE MISSION OF NAVIGANT CREDIT UNION IS TO IMPROVE THE FINANCIAL LIVES OF ITS MEMBERS. 11 10 248 274178 0 0 41627075 42583041 10285647 10091750 10538 1682 51923260 52676473 0 0 0 0 15407759 17107746 0 0 0 32314581 31256626 47722340 48364372 4200920 4312101 1256461087 1325675739 1104105820 1174758581 152355267 150917158 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 DESRVE. THIS IS ACCOMPLISHED BY PROVIDING COMPETITIVE LOAN AND DEPOSIT RATES AS WELL AS OTHER SERVICES OUR MEMBERS SEEK IN MANAGING THEIR FINANCES, DELIVEREED 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 16,292 loans totalling $832,424,249 DUE FROM MEMBERS AND $1,055,751,835 IN 110,990 Deposit ACCOUNTS FROM MEMBERS. ALSO $137,702 OF FEES WERE RECEIVED From MEMBERS RENTING 5,336 SAFE DEPOSIT BOXES. false false false false false false false 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 false false false false true 30456 0 true 248 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 1.0 X 12375 0 0 DONALD CHEVRETTE 4.0 X 12546 0 0 STEPHEN CROSS 1.0 X 9000 0 0 CHARLES DEBLOIS 1.0 X 35724 0 0 ALFRED DEGEN 1.0 X 12450 0 0 ANN KASHMANIAN 1.0 X 12450 0 0 ROLAND LACHAPELLE 1.0 X 31574 0 0 MAURICE RHAULT 4.0 X 21511 0 0 GARY FURTADO 40.0 X X 439846 0 349180 JOSEPH BERETTA 1.0 X 18625 0 0 ROBERT MURRAY 1.0 X 12000 0 0 MICHAEL RYAN 1.0 X 12075 0 0 JEAN M RYAN 1.0 X 11500 0 0 JAMES K SALOME 1.0 X 12075 0 0 PETER BAZIOTIS 1.0 X 12000 0 0 Claire O'Rourke 1.0 X 5250 0 0 LISA G DANDENEAU 40.0 X 232434 0 41709 DANIEL J O'BRIEN 40.0 X 197491 0 39951 FREDERICK REINHARDT 40.0 X 198317 0 38936 KATHLEEN OROVITZ 40.0 X 155240 0 34345 KENNETH SENUS 40.0 X 165088 0 35165 H Chris Der Vartanian 40.0 X 79730 0 10060 JEFFREY P CASCIONE 40.0 X 118622 0 19579 MELISSA A CARLTON 40.0 X 119751 0 11129 Freddie C Almeida 40.0 X 171156 0 20387 Leonarda M Conti 40.0 X 124516 0 7464 Stephen Ormerod 40.0 X 113628 0 4633 2346974 0 612538 17 false true false FISERV 75 REMITTANCE DRIVE - SUITE 6944 CHICAGO IL 606756944 DATA PROCESSING 823551 intuit fka digital insight corpor PO BOX 515306 LOS ANGELES CA 900516606 data processing 579613 Blue Cross of RI PO BOx 1057 PROVIDENCE RI 02901 Health Insurance 2077673 bowerman associates inc one richmond square suite 220E PAWTUCKET RI 02860 architectual 1967267 Duffy United 10 charles street PROVIDENCE RI 02904 advertising services 605125 28 0 INTEREST ON LOANS 37776975 37776975 MEMBER SERVICE FEE 525990 2943899 2871162 72737 MISCELLANEOUS FEES 525990 1677187 1637276 39911 MFS FEES INCOME 524298 184980 23450 161530 42583041 7340629 7340629 0 0 0 0 0 8546915 2339822 8098394 37222 448521 2302600 2751121 2751121 0 0 0 LAWSUIT SETTLEMENT 900099 1644 1644 MISC INCOME 900099 38 38 1682 52676473 42310545 274178 10091750 0 0 0 0 1699301 0 9134583 2710580 2613211 950071 0 469234 0 0 0 0 405333 1648353 589639 56106 0 1775498 39820 0 111263 14210447 0 1616606 0 PROVISION FOR LOAN LOSSES 1730915 MEMBER & NCUA INSURANCE 943377 DATA PROCESSING EXPENSES 2354230 CORRESPONDENT SERVICES 1478083 3827722 48364372 12656283 12825367 18174935 80319372 0 0 0 0 0 0 0 0 818087529 829639325 0 0 0 711707 41119749 14192013 23419596 26927736 360381378 350686305 0 0 0 0 0 0 23741366 24565927 1256461087 1325675739 17715844 24052309 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1086389976 1150706272 1104105820 1174758581 X 0 0 0 0 152355267 150917158 152355267 150917158 1256461087 1325675739 X 4312101 -1226571 -4523639 X false true X true false 6938630 6938630 22722479 6654470 16068009 9370096 7537543 1832553 2088544 0 2088544 26927736 0 DEPOSITS 1056732440 MORTGAGORS ESCROW ACCOUNTS 712109 ACCRUED INTEREST PAYABLE 1370465 BORROWINGS 91891258 1150706272 52676473 52676473 52676473 48364372 48364372 48364372 X X true true X X X X false true false LISA G DANDENEAU 192568 0 31175 0 8691 0 18500 0 23209 0 274143 0 0 0 GARY FURTADO 351559 0 73450 0 14837 0 320109 0 29071 0 789026 0 0 0 DANIEL J O'BRIEN 167307 0 21500 0 8684 0 17790 0 22161 0 237442 0 0 0 FREDERICK REINHARDT 169955 0 22500 0 5862 0 16750 0 22186 0 237253 0 0 0 KATHLEEN OROVITZ 136213 0 18750 0 277 0 13500 0 20845 0 189585 0 0 0 KENNETH SENUS 146040 0 18750 0 298 0 14000 0 21165 0 200253 0 0 0 Freddie C Almeida 171114 0 0 0 42 0 0 0 20387 0 191543 0 0 0 TRAVEL FOR COMPANIONS 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. HEALTH OR SOCIAL CLUB DUES OR INITIATION FEES SCHEDULE j, PART I, LINE 1A The credit union does maintain a membership for the credit union's CEO at a local country club. RETIREMENT PLAN SCHEDULE J, PART I, LINE 4B During 2012, the CEO, CFO, COO, CLO participated in a supplemental nonqualified retirement plan administered by Angell Pension Group and Reliance Trust Company. Jeffrey P Cascione Brother of law FIRM PTNR 22444 LEGAL SERVICES false LOANS TO/FROM INTERESTED PERSONS 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. Business Relationship 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. Review of Form 990 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. Conflict of interest 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. The process for determining compensation 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. Organization documents 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. Members 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. Other changes in Net Assets Form 990 page 12 Part XI Line 9 FAS 158 Pension liabilities (4,607,321) Change in Reserve 83,682 ------------ Net Other increases to net assets (4,523,639) ============