VIENNA, Va.—As it welcomes its 15 millionth member, Navy Federal Credit Union said it is reaffirming its commitment to members’ financial well-being.
The nearly $200-billion institution—the world’s largest credit union—said it is strengthening both its product portfolio and its community support efforts, particularly for servicemembers, veterans and their families.
Community Investments and Shutdown Relief
The credit union said it is on track to donate more than $10 million to over 500 community-based organizations by the end of the year. Employees also receive eight hours of paid volunteer leave annually.
Navy Federal reported it again offered its interest-free paycheck-assistance program for eligible members affected by the recent federal government shutdown, continuing a practice from prior shutdowns in 2011, 2013 and 2018–19. According to the credit union, its shutdown programs have issued more than 195,000 loans totaling more than $350 million, all interest-free and without credit checks, with no impact on borrowers’ credit histories.
Navy Federal also said it assisted members in managing more than $2.5 billion in loan balances during the most recent shutdown.
Member Value and New Tools
The credit union reported that members collectively earned and saved more than $4.3 billion last year through improved rates, lower fees and exclusive discounts. It also continues to expand offerings aimed at military households, including a new resource hub to support permanent change-of-station (PCS) moves. The hub provides reimbursement guidance, childcare resources, financial-management tools and access to 24/7 financial counseling.
According to Navy Federal, new products launched this year include a secured credit card offering 1% cash back on all purchases, a graduate student loan product, checking-account enhancements and a strategic partnership with a consortium of more than 130 credit unions investing in fintech solutions for lending automation, fraud prevention and member-experience improvements.
Navy Federal said the partnership complements ongoing investments in artificial intelligence and digital-investment tools.
Branch Network and Overseas Banking
The credit union said it remains committed to expanding its physical footprint, with more than 370 branches—many located on or near military bases. Navy Federal also operates the Defense Department’s Overseas Military Banking Program, known as Community Bank, which includes about 60 branches and hundreds of ATMs across 10 countries and territories. The program offers currency exchange, foreign bill payment, deposit accounts and other specialized services for deployed servicemembers.
CEO: Commitment to Military Members
“For nearly 93 years, Navy Federal has been driven by our commitment to give back to the community that gives so much to our country,” President and Dietrich Kuhlmann said in a statement. “As we mark a new milestone in our membership, Navy Federal remains focused on ensuring we are properly positioned to serve the financial needs of America’s men and women in uniform, our nation’s veterans and their families.”
