NAVIGANT CREDIT UNION

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1915

Legal Domicile

Principal Officer

JASON M JOLIN

Phone

4012334304

Tax Period

2023-01-01 to 2023-12-31

NAVIGANT CREDIT UNION, founded in 1915, is a major nonprofit in the Public & Societal Benefit sector that reported $175.2M in total revenue in fiscal year 2023. Revenue surged 34% from the prior year, signaling strong growth momentum. Expenses of $154.3M left a modest 12% surplus.

Mission

NAVIGANT CREDIT UNION IS MEMBER OWNED AND OPERATED. THE MISSION OF NAVIGANT CREDIT UNION IS TO IMPROVE THE FINANCIAL WELL-BEING OF ITS MEMBERS. IT DOES SO BY RESPONDING TO THE MEMBERS WITH THE VALUE THEY NEED AND THE CARING PERSONAL SERVICE THEY DESERVE. THIS IS ACCOMPLISHED BY PROVIDING COMPETITIVE LOAN AND DEPOSIT RATES AS WELL AS OTHER SERVICES TO OUR MEMBERS SEEK IN MANAGING THEIR FINANCES, DELIVERED BY A KNOWLEDGEABLE AND FRIENDLY STAFF.

Program Service Accomplishments

Program 1

THE CREDIT UNION IS A COOPERATIVE OWNED AND DIRECTED BY AND DEDICATED TO SERVING ITS MEMBERS. THE CREDIT UNION HAS 66,472 LOANS TOTALING $3,145,432,149 DUE FROM MEMBERS AND $3,247,635,562 IN 249,661 DEPOSIT ACCOUNTS FROM MEMBERS. ALSO $217,525 OF FEES WERE RECEIVED FROM MEMBERS RENTING 3,150 SAFE DEPOSIT BOXES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $160,900,265

Investment Income $13,278,196

Other Revenue $1,018,831

TOTAL REVENUE $175,197,292

Expense Breakdown

Grants Paid $1,225,898

Salaries & Benefits $46,614,726

Fundraising Expenses $0

Other Expenses $106,430,064

TOTAL EXPENSES $154,270,688

Year-over-Year Comparison

	2023	2022	Change
Revenue	$175,197,292	$130,542,626	+0.3%
Expenses	$154,270,688	$96,880,404	+0.6%
Net Income	$20,926,604	$33,662,222	-0.4%

Key Indicators

✓ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

N/A

Employees

493

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$925,718

Total Directors

$1,535,700

Key Employees

$3,219,978

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CATHERINE PARENTE	DIRECTOR	1.00	Director	$18,375	$0	$18,375
JOSEPH BERETTA	DIRECTOR	1.00	Director	$18,525	$0	$18,525
ROBERT MURRAY	DIRECTOR/VICE CHAIRMAN	1.00	Officer Director	$12,750	$0	$12,750
ROLAND R LACHAPELLE	DIRECTOR	1.00	Director	$23,588	$0	$23,588
JAMES K SALOME	DIRECTOR/CHAIRMAN	1.00	Officer Director	$27,950	$0	$27,950
GARY E FURTADO	CEO, EMERITUS/DIRECTOR	40.00	Director	$469,304	$19,865	$489,169
ANN M KASHMANIAN	DIRECTOR/SECRETARY	1.00	Officer Director	$18,600	$0	$18,600
MICHAEL RYAN	DIRECTOR	1.00	Director	$18,300	$0	$18,300
PAUL BEAUDOIN	DIRECTOR	1.00	Director	$23,500	$0	$23,500
PETER BAZIOTIS	DIRECTOR	1.00	Director	$18,525	$0	$18,525
KATHLEEN OROVITZ	PRESIDENT/CEO	40.00	Officer Director	$687,712	$178,706	$866,418
H CHRIS DER VARTANIAN	SVP/CRO	40.00	Key Emp	$193,059	$11,414	$204,473
LISA G DANDENEAU	SR EVP/CASO	40.00	Key Emp	$974,677	$114,450	$1,089,127
JONATHAN ROBERTS	SVP/CIO	40.00	Key Emp	$379,700	$77,916	$457,616
DAVID PELLEGRINO	VP-COMPLIANCE	40.00	Key Emp	$252,774	$52,131	$304,905
DAVID DECUBELLIS	SVP/CRO	40.00	Key Emp	$360,813	$76,801	$437,614
JASON M JOLIN	EVP/CFO	40.00	Key Emp	$398,250	$85,572	$483,822
MICHAEL J MATTONE	SVP/CRBEO	40.00	Key Emp	$230,575	$11,846	$242,421
LORI JORDAN	SVP DIRECTOR OF PEOPLE & TALENT MANAGEMENT	40.00	Highest	$208,366	$33,714	$242,080
ROSS SILVA	AVP BUS DEV/REGIONAL LOAN OFFICER	40.00	Highest	$264,727	$39,214	$303,941
JEFFREY P CASCIONE	SVP DIRECTOR OF COMMERCIAL BANKING	40.00	Highest	$299,705	$31,397	$331,102
TIMOTHY DRAPER	SVP PR & COMMUNITY ENGAGEMENT	40.00	Highest	$220,025	$33,732	$253,757
FREDDIE C ALMEIDA	VP RESIDENTIAL MORTGAGE ORIGINATIONS MANAGER	40.00	Highest	$245,533	$36,000	$281,533

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$175,197,292	$154,270,688	$3,756,984,395	$20,926,604
2022	$130,542,626	$96,880,404	$3,423,774,708	$33,662,222
2021	$116,968,150	$84,961,155	$3,081,655,511	$32,006,995
2020	$107,632,052	$90,517,304	$2,701,497,948	$17,114,748
2019	$106,887,466	$86,605,185	$2,345,509,867	$20,282,281
2018	$91,588,190	$71,527,210	$2,187,804,095	$20,060,980