SMITHFIELD, R.I. (7/20/12)--Two Rhode Island credit unions--Navigant CU and Columbus CU--have announced their intention to merge, with Navigant remaining as the continuing institution.
Warren, R.I.-based Columbus CU's employees will stay on as employees of Navigant CU, which is based in Smithfield, R.I., and has $1.3 billion in assets, according to the Provident Business News (July 18)
Among the reasons cited for the merger by Columbus CU, with $68 million in assets, was enhanced and expanded access to services for its members. Among the services offered by Navigant CU are a suite of commercial loans, business services and consumer products.
Columbus CU's two branches will remain open in addition to Navigant's 10 other branches in northern and eastern Rhode Island.
The merger is subject to regulatory approval and is expected to be finalized by the end of the year.