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Rhode Island-based Navigant CU to absorb Kent Hospital FCU

Smithfield, R.I.-based Navigant CU is purchasing the assets and absorbing all of the members of Warwick, R.I.-based Kent Hospital FCU, the Providence (R.I.) Business News reported, citing Navigant CU spokesman Tim Draper.

The merger is expected to close early in 2020, with Kent Hospital FCU employees becoming Navigant CU employees.

Navigant CU has assets of about $2.3 billion, while Kent Hospital FCU has assets of $13 million, according to the report.