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Navigator Credit Union

Learn about this cause: Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 640179401 ✦ Pascagoula, MS ✦ Designated as a 501(c)(14)

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Overview

What is Navigator Credit Union?

Navigator Credit Union is a member-owned, state-chartered financial institution based in Pascagoula, Mississippi. With a mission to promote savings among its members, it offers a range of competitive savings products such as savings, checking, money market accounts, certificates of deposit, IRAs, and certificates of deposit accounts. The credit union caters to the employees of Huntington Ingalls Industries operating division in Jackson County, Mississippi, and their families, as well as residents of Mobile and Baldwin Counties, Alabama, a designated portion of Gulfport, Mississippi, federal employees in Jackson County, Mississippi and their families, individuals employed at small businesses located in Jackson or Harrison County, Mississippi, and their retirees and family members. The total number of members exceeds 45,000, and the organization is staffed by 177 employees.


Official website here: www.navigatorcu.org

Is Navigator Credit Union legitimate?

Navigator Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Navigator Credit Union submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.


Heare are some key statistics you may want to consider:

Executive Compensation: $1,105,360
Professional Fundraising Fees: $0
Other Salaries and Wages: $6,103,056

For more financial information, click here


Official website here: www.navigatorcu.org

What is the mission statement of Navigator Credit Union?

Navigator Credit Union is dedicated to encouraging savings among its members and serving them with access to affordable credit. The membership base consists of Huntington Ingalls Industries employees and their families, as well as individuals living, working, worshiping, or attending school in specific areas of Alabama and Mississippi, federal employees and retirees in Jackson County, Mississippi, and individuals employed at small businesses in Jackson and Harrison counties, Mississippi, along with their retirees and family members. With a membership exceeding 45,000, this member-owned credit union aims to promote thrift and provide legitimate credit options to its members.


Official website here: www.navigatorcu.org

Who is the CEO of Navigator Credit Union?

Sonya Jarvis is the President/Ceo of Navigator Credit Union. The CEO's salary of Navigator Credit Union is $301,765 and their total compensation is $322,417.


Official website here: www.navigatorcu.org

What is the revenue of Navigator Credit Union?

Navigator Credit Union's revenue in 2022 was $26,230,497.


Official website here: www.navigatorcu.org

Who are the executives of Navigator Credit Union and what are their salaries?

The average compensation at Navigator Credit Union during 2022 was $40,726. There are 177 employees and 8 volunteers at Navigator Credit Union.


Here are 12 key members and their salaries (Navigator Credit Union's CEO's salary is $301,765 and their total compensation is $322,417):


Carlos Lett (Vice Chairman)
  • Compensation: $0
  • Related: $0
  • Other: $0
Tommy Leonard (Chairman)
  • Compensation: $0
  • Related: $0
  • Other: $0
Dorothy Todd (Secretary)
  • Compensation: $0
  • Related: $0
  • Other: $0
Richard Schenk (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Chris Hudson (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Robert Harry (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Sonya Jarvis (President/Ceo)
  • Compensation: $301,765
  • Related: $0
  • Other: $20,652
William Mccoy (Chief Financial Officer)
  • Compensation: $173,284
  • Related: $0
  • Other: $24,749
Andrew Wilson (Chief Loan Officer)
  • Compensation: $142,983
  • Related: $0
  • Other: $21,569
Donna Harmon (Chief Information Officer)
  • Compensation: $119,759
  • Related: $0
  • Other: $4,552
Sally Hoffstadt (Chief Administrative Offic)
  • Compensation: $151,944
  • Related: $0
  • Other: $6,668
Helen Sylvester (Chief Operations Officer)
  • Compensation: $124,880
  • Related: $0
  • Other: $12,557


Official website here: www.navigatorcu.org

Where can I find the form 990 for Navigator Credit Union?

Navigator Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.


Official website here: www.navigatorcu.org

Learn more at the official website: www.navigatorcu.org

Mission Statement of Navigator Credit Union

Navigator Credit Union, a member-owned and state-chartered financial institution, is dedicated to encouraging thrift among its members and providing them with access to credit at fair rates. The organization's mission reaches out to a diverse group of individuals, including employees of Huntington Ingalls Industries operating in the shipbuilding industry in Jackson County, Mississippi, and their families, as well as residents of Mobile and Baldwin Counties in Alabama, a designated portion of Gulfport, Mississippi, federal employees in Jackson County, Mississippi, federal government retirees and their families, individuals employed at any business in Jackson or Harrison County, Mississippi, with fewer than 500 employees, and their retirees and family members. This extensive membership base exceeds 45,000 strong individuals. By promoting thrift and serving as a dependable source of credit, Navigator Credit Union plays a crucial role in enhancing the financial well-being of its members.

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Impact




October, 2024

Navigator Credit Union positively impacts its community by fostering financial well-being among its members. As a member-owned, state-chartered credit union, it promotes thrift through competitive savings products such as savings accounts, checking accounts, money market accounts, and certificates of deposit, including IRA options. This not only incentivizes savings but also encourages responsible financial management among its members.

With a mission to provide accessible credit at legitimate interest rates, Navigator Credit Union serves a diverse membership base exceeding 45,000 individuals. These members primarily include employees and families associated with Huntington Ingalls Industries in the shipbuilding sector, as well as residents and workers in Mobile and Baldwin Counties, Alabama, and parts of Gulfport, Mississippi. The inclusion of federal employees and small business workers in Jackson and Harrison Counties enhances community cohesion and financial inclusion, further reinforcing Navigator's role in elevating economic opportunities.

By prioritizing the financial needs of its members, Navigator Credit Union contributes significantly to local economic growth, stability, and resilience, creating a positive ripple effect that benefits the broader community.




This information is meant to be a general summary of Navigator Credit Union. Please take the time to review official sources before making any decisions based upon the content provided here.


Financials

This financial information is from Propublica.

Revenue
$26,230,497 (2022)
Expenses
$21,968,116 (2022)
Efficiency

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2022.

  • Investment Income: $3,089,164
  • Program Service Revenue: $11,398,375
  • Gross Receipts: $26,235,810

Assets and Liabilities:

  • Total Assets: $418,420,655
  • Total Liabilities: $365,222,948
  • Net Assets: $53,197,707

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Programs

Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.

INTEREST ON LOANS

Revenue

$11,398,375

Organization Details

Founding Year

1939

Principal Officer

Sonya Jarvis

Main Address

PO BOX 1647, PASCAGOULA, MS, 395681647

NTEE Category

Code: W61 - Public benefit

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