Navy Federal Credit Union: Your Partner in Financial Success

Navy Federal Credit Union is a financial powerhouse that's been serving its members for over 85 years. It's no surprise that it's become the largest credit union in the world.

With over 9 million members and $145 billion in assets, Navy Federal is a force to be reckoned with. Its membership is made up of current and former military personnel, their families, and DoD employees.

Navy Federal's commitment to its members is evident in its wide range of financial services, including checking and savings accounts, credit cards, mortgages, and investment services.

Membership in Navy Federal Credit Union is open to a wide range of individuals and groups. You can join if you're a member of the US military, a veteran, or a family member of someone who qualifies.

Navy Federal has a long list of eligible groups, including uniformed personnel from the Army, Navy, Air Force, Space Force, Marine Corps, and Coast Guard, as well as their retirees and annuitants. They also welcome DoD reservists, civilian employees, and contractors.

To give you a better idea of who's eligible, here's a breakdown of the groups that qualify for membership:

Navy Federal's membership is carefully defined by the National Credit Union Administration (NCUA) to ensure it stays true to its mission. Membership is limited to individuals who share a common bond defined in the credit union's charter.

You can join Navy Federal if you're a Department of Defense (DoD) uniformed personnel, including Army, Navy, Air Force, Space Force, and Marine Corps retirees and annuitants. This includes active duty members, too.

DoD reservists, regardless of drill status, are also eligible for membership. This includes Army, Navy, Air Force, and Marine Corps reservists, as well as their retirees and annuitants.

US Coast Guard uniformed personnel, civilian employees, auxiliarists, retirees, and annuitants are also part of the Navy Federal family. This includes those with or without drill status.

Membership also extends to Army National Guard and Air National Guard personnel, civilian employees, retirees, and annuitants. This includes those with or without drill status.

If you're involved in DoD Officer Candidate programs, such as midshipmen and cadets at the United States Naval Academy, United States Military Academy, United States Air Force Academy, United States Coast Guard Academy, and the United States Merchant Marine Academy, you're eligible to join.

Current and retired civilian employees of the DoD are also welcome to join Navy Federal. This includes those assigned to DoD installations.

Additionally, U.S. government employees assigned to DoD installations and DoD contractors assigned to U.S. government installations can join Navy Federal.

Employees of Navy Federal Credit Union are also eligible for membership, as are their family members, including grandparents, parents, spouses, siblings, grandchildren, cohabitants, and children.

Honorable discharged veterans are also part of the Navy Federal membership.

As a member, you'll enjoy a range of rewards and perks that can make your life easier and more convenient.

One of the perks is gift cards and merchandise, which can be a nice surprise to receive.

If you plan to rent a car, you can get automobile rental insurance and up to 25% off car rental.

You can also take advantage of contactless payments, which can make transactions faster and more secure.

Chip card and mobile wallet provisioning, such as Apple Pay, are also available.

Here are some of the rewards and perks you can expect:

Navy Federal Credit Union is the world's largest credit union, serving over 14 million members.

With more than $180 billion in assets, it's clear that they're a major player in the financial industry.

Navy Federal has a significant presence, with 24,000+ employees and campuses in Vienna, VA, Pensacola, FL, and Winchester, VA.

Their extensive branch network includes over 360 locations.

Navy Federal is chartered with the National Credit Union Administration (NCUA) as a single-sponsor credit union, sponsored by the Department of Defense.

This unique structure allows them to provide specialized services to the Armed Forces, Department of Defense, Veterans, and their families.

As an equal opportunity employer, Navy Federal is committed to diversity and inclusion in the workplace.

Their commitment to their employees is evident in their highly competitive pay and generous benefits and perks.

Navy Federal Credit Union has been a proud sponsor of the Marine Corps Historic Half since 2015.

The credit union's commitment to supporting their members is evident in their tailored checking and savings benefits, designed specifically for the unique needs of all branches of the military, the DoD, veterans, and their families.

By being a Navy Federal Credit Union member, individuals can earn and save up to $473 per year, thanks to earning dividends, getting cash back, enjoying low fees, and taking advantage of exclusive deals.

This impressive amount of savings is a testament to the credit union's dedication to helping their members achieve their financial goals.

Navy Federal Credit Union has received numerous awards and recognition for its exceptional service and financial products.

The credit union was named the Best Credit Union in the Nation by the Military Times in 2020, solidifying its reputation as a trusted financial institution for military personnel and their families.

Navy Federal has consistently ranked high in customer satisfaction surveys, with 96% of members reporting satisfaction with their banking experience.

Its online banking platform has also received praise, with 95% of members using it to manage their accounts, pay bills, and transfer funds.

The credit union's commitment to community development has earned it the 2020 CDFI Fund Award, recognizing its efforts to provide financial services to underserved communities.

Navy Federal has also been recognized for its innovative approaches to financial education, with its "Money Matters" program winning the 2019 Excellence in Financial Education Award.

Navy Federal Credit Union has faced several legal issues over the years.

The credit union settled a class action lawsuit in 2017 over millions of unwanted phone calls. Many of these calls went to individuals who were not credit union members and had specifically asked not to be contacted.

In 2020, Navy Federal Credit Union settled another class action lawsuit over unwanted text messages, paying out $9.25 million.

The credit union has also faced issues with non-sufficient funds fees, settling a class action lawsuit in 2021 over breached member agreements. Over 700,000 members were charged multiple insufficient funds fees.