Dexter Credit Union agrees to be merged into Navigant Credit Union

Smithfield, RI- March 7, 2016 – Navigant Credit Union announced today that it has
agreed to merge Dexter Credit Union into Navigant Credit Union. Navigant Credit Union
will be the surviving credit union. The legal merger will occur on April 10, 2016 and it is
expected that all operations will be fully integrated by year-end. The merger is subject to
the approval of NCUA and the Rhode Island Department of Business Regulation.
The merger will strengthen Navigant Credit Union’s growing branch network, with the
addition of Dexter’s membership now served at branches located at 934 Dexter Street in
Central Falls and 135 Danielson Pike in Scituate. Those branches will compliment
Navigant Credit Union’s 13 other branch offices in Northern Rhode Island and the East
Bay.
DexterCreditUnion
The 16,000 members of Dexter Credit Union will become members of Navigant Credit
Union, bringing Navigant’s membership to more than 80,000. As part of Navigant Credit
Union, members will have access to the company’s enhanced and expanded services,
including mobile and online banking, and Navigant Credit Union’s suite of commercial
loans and business services, as well as its comprehensive offering of consumer products.
“This merger brings together two financial organizations that both trace their roots to
supporting the residents and businesses of Central Falls. We’ll now bring Navigant’s
unique brand of member service and technology advancements to Dexter’s Central Falls
and Scituate members,” Navigant Credit Union President and CEO Gary Furtado said.
“We’re excited to become part of the Scituate community and demonstrate an even
deeper commitment to the city of Central Falls.”
“Even though we have had success in rebuilding our infrastructure and diversifying our
delivery system and income stream, it became very apparent that an organization of our
size could not obtain the critical mass needed to succeed in this very competitive
industry,” said Stephen J. Angell, President & CEO of Dexter Credit Union. “We feel
very confident that becoming part of Navigant Credit Union is in the best interests of our
members as it will provide them with a greater breadth and scope of products and
services.”
About Navigant Credit Union
Based in Smithfield, R.I., Navigant Credit Union is Rhode Island’s oldest credit union.
Navigant Credit Union has provided its members with unparalleled financial products
and services, as well as community support, for over 100 years. With more than
$1.5 billion in assets, more than 65,000 members and 13 branches, Navigant Credit
Union supports its members through access to products and services, conservative
financial management and commitment to the communities where we operate. The
Providence Business News named Navigant Credit Union one of the 2015 Best Places to
Work in Rhode Island. Visit www.navigantcu.org to learn more.
About Dexter Credit Union
Dexter Credit Union was established in 1948 and offers a full menu of financial products
and services. It is headquartered in Central Falls, Rhode Island, and operates branches in
Central Falls and Scituate. The credit Union has approximately $100 million in assets
and some 16,000 members. Deposits are insured by the National Credit Union
Administration (NCUA). Dexter Credit Union is an equal housing lender. More
information can be found at www.dextercu.org.