Navy Federal Credit Union
Member-owned, not-for-profit credit union providing banking, lending, investment and digital banking services to more than 15 million members of the military community.
Navy Federal Credit Union is the world's largest credit union: a member-owned, not-for-profit financial cooperative serving the military community. Founded in 1933 by seven Navy Department employees during the Great Depression, it now serves more than 15 million members, including active-duty service members, veterans, Department of Defense civilians and their families. Membership is restricted to that community. The organisation holds over $190 billion in assets and employs more than 25,000 people worldwide.
The product range spans checking and savings accounts, credit cards, mortgages, auto loans and student loans, alongside Navy Federal Investment Services and the MakingCents financial education programme. Delivery combines a physical network of 178 branches on or near military installations and 27 international locations with a 30,000-plus free ATM network. Member service is provided by U.S.-based representatives, with specialised support for permanent change of station moves and other military transitions.
Technology work is concentrated in digital banking, mobile banking and financial services technology, with particular focus on digital tools and self-service platforms. Mobile banking and digital tools provide members with 24/7 access, a digital-first approach that pairs advanced technology with personalised service. The business operates across the United States and at overseas locations.
As a cooperative, Navy Federal answers to its members rather than shareholders. Its stated commitments include significant charitable giving and financial education through MakingCents.