LINCOLN, R.I. – In an unusual deal, Navigant CU plans to open a second branch in Lincoln this year at what is now a Coventry CU service center, acquiring Coventry members who use the branch as part of the exchange.
Coventry CU will be shutting down its branch to concentrate operations in the Kent County area, while Navigant continues to solidify its base in northern Rhode Island. All members of the Coventry Manville branch will become members of Navigant, once state regulators approve the purchase.
The deal is subject to the approval of the Rhode Island Department of Business Regulation and current Coventry CU members.
This will be the Navigant’s 10th branch, while two more, in Chepachet and North Smithfield, are in the works.
