2025-03-17T19:05:23-05:00 2024-04-30 454084437 WARREN AVERETT LLC 350 W CEDAR STREET SUITE 400 PENSACOLA FL 32502 990 2024-01-01 640179401 NAVIGATOR CREDIT UNION NAVI 2287623542 PO BOX 1647 PASCAGOULA MS 395681647 SONYA JARVIS PRESIDENT/CEO 2287623542 2025-03-10 1 0 CLAIRE C DUREN CPA P01577924 8504357400 2025-03-10 2024 2025-03-06 01:10:19Z X SONYA JARVIS PO BOX 1647 PASCAGOULA MS 395681647 2475579 0 X WWW.NAVIGATORCU.ORG X STATE-CHARTERED CREDIT UNION 1939 MS MEMBER-OWNED, STATE-CHARTERED CREDIT UNION X 6 6 0 0 9167 0 0 0 14458836 1433339 4312115 189141 12312471 853099 31083422 2475579 0 0 0 0 9879534 841543 0 0 0 15923792 1614713 25803326 2456256 5280096 19323 378835061 0 320467360 0 58367701 0 X THE CREDIT UNION'S MISSION IS TO PROMOTE THRIFT AMONG ITS MEMBERS AND CREATE A SOURCE OF CREDIT FOR THEM AT LEGITIMATE RATES OF INTEREST. THE CREDIT UNION'S MEMBERS INCLUDE EMPLOYEES OF HUNTINGTON INGALLS INDUSTRIES OPERATING DIVISION ENGAGED IN THE SHIPBUILDING INDUSTRY IN JACKSON COUNTY, MISSISSIPPI AND THEIR FAMILIES, AS WELL AS THOSE WHO LIVE, WORK, WORSHIP OR ATTEND SCHOOL IN MOBILE AND BALDWIN COUNTIES, ALABAMA AND A DESINATED PORTION OF GULFPORT, MISSISSIPPI, FEDERAL EMPLOYEES IN JACKSON COUNTY, MISSISSIPPI AS WELL AS FEDERAL GOVERNMENT RETIRES AND THEIR FAMILIES, INDIVIDUALS EMPLOYED AT ANY BUSINESS LOCATED IN JACKSON OR HARRISON COUNTY, MISSISSIPPI WHICH HAS FEWER THAN 500 EMPLOYEES AS WELL AS RETIREES AND FAMILY MEMBERS OF THIS GROUP. THE TOTAL NUMBER OF MEMBERS IS IN EXCESS OF 45,000. 0 1 IN OUR EFFORTS TO PROMOTE THRIFT AMONG OUR MEMBERS, THE CREDIT UNION PROVIDES COMPETITIVE SAVINGS PRODUCTS, WHICH INCLUDE SAVINGS, CHECKING, MONEY MARKET, CERTIFICATES OF DEPOSIT ACCOUNTS AS WELL AS IRA SAVINGS AND CERTIFICATES OF DEPOSIT ACCOUNTS. TO MEET THE FINANCIAL NEEDS OF OUR MEMBERS, THE CREDIT UNION PROVIDES A SOURCE OF CREDIT BY OFFERING A VARIETY OF CONSUMER AND MORTGAGE LENDING PRODUCTS AT REASONABLE RATES OF INTEREST. 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 X 6 6 0 0 0 0 1 1 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X THE ORGANIZATION 2287623542 PO BOX 1647 PASCAGOULA MS 395681647 CYNTHIA BOWLES SECRETARY 3.00 X X 0 0 0 CARLOS LETT VICE CHAIRMAN 3.00 X X 0 0 0 TOMMY LEONARD CHAIRMAN 3.00 X X 0 0 0 DOROTHY TODD DIRECTOR 3.00 X 0 0 0 RICHARD SCHENK DIRECTOR 3.00 X 0 0 0 CHRIS HUDSON DIRECTOR 3.00 X 0 0 0 0 0 0 0 0 0 0 0 INTEREST ON LOANS 522100 1433339 1433339 1433339 189141 189141 SERVICE FEES AND MISC 522100 831013 831013 NSF INCOME 522100 12919 12919 FOREIGN ATM FEES 522100 9167 9167 853099 2475579 2277271 9167 189141 64972 607735 35721 80833 52282 17 6500 42037 35068 53949 75075 32096 7725 9129 166795 66431 20252 PROVISION FOR LOAN LOSS 567697 VISA DEBIT AND CREDIT C 384340 SHAREHOLDER'S EXPENSE 43577 FRAUD AND FORGERY EXPEN 27166 76859 2456256 9000598 0 19655323 0 0 2245010 0 0 0 264966028 0 0 1904334 0 0 0 9369245 0 59579443 0 3773826 0 0 0 8341254 0 378835061 0 4353648 0 475592 0 315638120 0 320467360 0 X 0 0 0 0 58367701 0 58367701 0 378835061 0 X 19323 -58387024 X X 0 1 X 1 0 0 1 X 2923146 2923146 10535372 5715681 4819691 171485 165767 5718 8611292 6812082 1799210 9547765 PART IV, LINE 2B: THE CREDIT UNION HOLDS ESCROWED FUNDS FOR THE PAYMENT OF PROPERTY TAXES AND HOMEOWNERS' INSURANCE AS A SERVICE TO OUR MEMBERS WHO HAVE MORTGAGES WITH THE CREDIT UNION. CASH 2024-01-31 38115586 BALANCE SHEET CARRYING VALUE 640179401 NAVIGATOR FEDERAL CREDIT UNION PO BOX 1647 PASCAGOULA MS 395681647 501(C)(14) ACCOUNTS AND LOANS RECEIVABLE 2024-01-31 265866113 BALANCE SHEET CARRYING VALUE 640179401 NAVIGATOR FEDERAL CREDIT UNION PO BOX 1647 PASCAGOULA MS 395681647 501(C)(14) PREPAID EXPENSES 2024-01-31 1582220 BALANCE SHEET CARRYING VALUE 640179401 NAVIGATOR FEDERAL CREDIT UNION PO BOX 1647 PASCAGOULA MS 395681647 501(C)(14) LAND AND DEPRECIABLE ASSETS 2024-01-31 9547765 BALANCE SHEET CARRYING VALUE 640179401 NAVIGATOR FEDERAL CREDIT UNION PO BOX 1647 PASCAGOULA MS 395681647 501(C)(14) INVESTMENTS 2024-01-31 61374445 BALANCE SHEET CARRYING VALUE 640179401 NAVIGATOR FEDERAL CREDIT UNION PO BOX 1647 PASCAGOULA MS 395681647 501(C)(14) OTHER ASSETS 2024-01-31 8394216 BALANCE SHEET CARRYING VALUE 640179401 NAVIGATOR FEDERAL CREDIT UNION PO BOX 1647 PASCAGOULA MS 395681647 501(C)(14) ACCOUNTS PAYABLE AND ACCRUED LIABILITIES 2024-01-31 -4779248 BALANCE SHEET CARRYING VALUE 640179401 NAVIGATOR FEDERAL CREDIT UNION PO BOX 1647 PASCAGOULA MS 395681647 501(C)(14) OTHER LIABILITIES 2024-01-31 -321714073 BALANCE SHEET CARRYING VALUE 640179401 NAVIGATOR FEDERAL CREDIT UNION PO BOX 1647 PASCAGOULA MS 395681647 501(C)(14) 1 1 0 1 1 1 1 0 0 PART I, LINE 2E: EXPLANATION OF INVOLVEMENT: THE CREDIT UNION IS CONVERTING FROM A STATE CHARTER TO A FEDERAL CHARTER. NO TRANSFER OF ASSETS ACTUALLY TRANSPIRED. ALL EMPLOYEES AND BOARD MEMBERS WILL REMAIN IN THEIR ROLES AT THE CREDIT UNION. THE CREDIT UNION IS FILING A FINAL FORM 990 FOR THE TAX PERIOD THAT ENDED WITH THE CONVERSION TO A FEDERAL CHARTER. FORM 990, PAGE 1, LINE B AS OF JANUARY 30, 2024, WITH FULL BOARD APPROVAL, NAVIGATOR CREDIT UNION CONVERTED TO A FEDERAL CHARTER AND IS NO LONGER REQUIRED TO FILE THE FORM 990 AS OF THE CONVERSION. NAVIGATOR CREDIT UNION HAS RECEIVED PERMANENT IDENTIFICATION AND ALL NECESSARY AUTHORIZATIONS HAVE BEEN OBTAINED. FORM 990, PART III, LINE 3 NAVIGATOR CREDIT UNION CONVERTED FROM A STATE-CHARTERED CREDIT UNION TO A FEDERAL CHARTER AS OF DECEMBER 8, 2023 AND APPROVED BY THE BOARD OF DIRECTORS AS OF JANUARY 30, 2024. THE CREDIT UNION'S ACTIVITIES HAVE NOT CHANGED. NAVIGATOR CREDIT UNION FILED AN AMENDMENT OF CHARTER WITH THE STATE OF MISSISSIPPI AND THE NATIONAL CREDIT UNION ADMINISTRATION (SEE ATTACHED). FORM 990, PART IV, CHECKLIST OF REQUIRED SCHEDULES, LINE 12A THE CREDIT UNION IS REQUIRED TO HAVE AN ANNUAL AUDIT. FOR THE YEAR ENDING 12/31/2024, THE AUDIT HAS NOT YET BEEN COMPLETED. THE MOST RECENT AUDIT FOR NAVIGATOR CREDIT UNION IS FOR THE YEAR-ENDED 12/31/2023. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION IS OWNED BY ITS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS ARE ELECTED TO THREE-YEAR TERMS BY THE CREDIT UNION'S MEMBERSHIP. THE BOARD OF DIRECTORS APPOINTS A NOMINATING COMMITTEE COMPRISED OF BOARD MEMBERS WHOSE SEATS ARE NOT UP FOR REELECTION TO PROPOSE NOMINEES FOR OPEN SEATS. THERE IS A PROVISION FOR NOMINATION BY PETITION BY QUALIFIED MEMBERS. IF ANY SEAT IS CONTESTED, THE ELECTION IS CONDUCTED VIA A MAIL-IN BALLOT SENT TO ALL MEMBERS IN GOOD STANDING WITH THE RESULTS TABULATED BY AN OUTSIDE CPA FIRM. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE 990 IS REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ANY ITEM THAT APPEARS TO BE A CONFLICT OF INTEREST IS SENT TO SUPERVISORS, MANAGEMENT, AND HUMAN RESOURCES TO BE REVIEWED. IF THE ITEM IS DEEMED TO BE A CONFLICT OF INTEREST, THE ITEM IS NOT CARRIED FORWARD WITH. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS REVIEWS AND APPROVES THE PRESIDENT/CEO'S COMPENSATION. THE PRESIDENT/CEO REVIEWS AND APPROVES THE COMPENSATION OF ALL OFFICERS AND KEY EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: TRANSFER OF NET ASSETS TO FEDERAL CREDIT UNION -58,387,024.