The History of America's Credit Unions
Established in 1939, Navigator Credit Union has been a guiding force for the Gulf Coast, operating as a not-for-profit financial institution dedicated to its members rather than investors. As one of the larges credit unions in Mississippi and Alabama, Navigator offers a comprehensive suite of financial products, from free checking to home and auto loans, all characterized by better rates and fewer fees than traditional banks. With 12 full-service branches spanning from Gulfport, MS, to Daphne, AL, Navigator Credit Union is committed to providing its members with the strength, stability and financial resources necessary to navigate life's journey.
History
Navigator Credit Union began on June 24, 1939, as the Mutual Benefit Credit Union, founded by seven employees of Ingalls Shipbuilding. Their goal was to provide their co-workers with a way to save money and get loans. The credit union, which soon changed its name to Ingalls Employees Credit Union, was chartered with about 100 members and $3,000 in assets. Over the next several decades, the organization grew steadily, expanding its services and membership base far beyond its initial Ingalls Shipbuilding roots. This growth eventually led the members to adopt a new name in 2003: Navigator Credit Union.
The credit union’s resilience has been tested multiple times throughout its history by hurricanes along the Mississippi and Alabama Gulf Coasts. Following Hurricane Camille in 1969, volunteers worked to hand out cash to members, even using damaged currency to help those who had lost everything. This commitment to members continued after Hurricane Katrina in 2005. Despite technological advances, employees once again retrieved wet money to distribute to members in need. With long lines and National Guard troops present to help, the credit union ensured its members had access to their money during the harrowing aftermath of the storm.
After years of expansion and growth, Navigator Credit Union became Mississippi’s largest state-chartered credit union and one of Alabama’s largest. On December 8, 2023, the credit union officially became federally chartered, adopting the name Navigator Federal Credit Union. Today, this full-service financial institution serves more than 46,000 members across the Gulf Coast region. With over $400 million in assets, Navigator Federal Credit Union operates 12 full-service branches, with eight located in Mississippi and four in Alabama.
Navigator Credit Union's headquarters location in Moss Point, MS. It is one of eight locations on the Mississippi Gulf Coast, and there are four locations along coastal Alabama.
Navigator Credit Union employees celebrating eight decades of guiding the Gulf Coast at a branch 80th birthday party. Simultaneous birthday parties were held at all branch locations on June 24, 2019.
n early Navigator Credit Union flagship location, a wooden building inside the gates of Ingalls Shipbuilding, Mississippi's largest employer. It wasn't until 1994, 55 years after opening, that then Ingalls Employees Credit Union opened a branch off the shipyard property.