Financial Services

The Westerly Community Credit Union has received a $100,000 grant to help secure home ownership for low to moderate income households. 10:41 am

The Narragansett Bay Insurance Co. reached a notable landmark last week when it celebrated its 100,000th homeowner’s policy. 4:55 am

Janney Montgomery Scott LLC, a full-service wealth management, financial services and investment banking firm headquartered in Philadelphia, has announced the successful closing of the state of Rhode Island's $122.95 million general obligation bond issue, which sold on April 24. 4:55 am

UMBERLAND – The Pawtucket Credit Union held a ribbon-cutting to celebrate the opening of their newest branch at 1855 Mendon Road this month. The 2,800-square-foot facility is the credit union’s 15th location and their first in Cumberland. The building was designed by Vision 3 Architects of Providence and built by Graham Builders Inc. of Smithfield. The new branch features two drive-thru lanes, a 24-hour, drive-up ATM, and private offices. Located near the commercial center of the town, the branch is expected to provide banking services for an increased volume of customers. Pawtucket Credit Union is the largest Credit Union in Rhode Island and recently celebrated taking top honors in the Providence Business News’ Best Places to Work in Rhode Island. “We applaud Pawtucket Credit Union on their continued success,” said Keith Davignon, a principal at Vision 3 Architects who has been working with Pawtucket Credit Union for more than 20 years. The exterior design is a simple, traditional style which fits easily into the suburban neighborhood with the interior being more contemporary, working together to create a visually dynamic retail space. 4:55 am

Senior vice president and team leader of Washington Trust's commercial real estate group talks about the group's work. 4:55 am

Rockland Trust has announced the launch of its $1 million “Actions. Not words.” marketing campaign. The campaign will feature a social media and online promotion to engage customers and the public. 4:55 am

BankNewport President and CEO Sandra J. Pattie recently joined Andrew Schiff, CEO of the Rhode Island Community Food Bank, and Joanne Hoops, executive director of the Boys & Girls Clubs of Newport County, for a visit to the Park Holm Boys & Girls Clubs following a $5,000 grant from BankNewport to the food bank’s Kids Café program. May 19

Swipely CEO Angus Davis was one of many skeptics of Rhode Island’s $75 million loan guarantee to former Red Sox pitcher Curt Schilling’s 38 Studios LLC video game startup two years ago. Now he has even more company in the business community urging state leaders not to sink any more money into the embattled Providence firm since it defaulted on part of its public-financing deal. May 19

BOSTON – Mass. Division of Insurance Commissioner Joseph G. Murphy issued an order this month rejecting the Massachusetts Property Insurance Underwriters Association proposed rate filings for home insurance policies across the state through the FAIR Plan. May 19

To paraphrase Mark Twain, “A lender is a fellow who charges you for his umbrella when the sun is shining, but wants it back the minute it begins to rain.” If that’s the case, a Rhode Island payday lender is the fellow that lends you a paper umbrella for the mere cost of 260 percent annual interest when it starts raining and then wants it back minutes later in the middle of the rain to sell you another one. May 19