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Credit union in the United States Navy Federal Credit Union, Type, Market, Established, March 13, 1933; 88 years earlier (1933-03-13)Head OfficeVienna, Virginia, United States, Number of locations346Area served, Worldwide, Key people VADM John A. Lockard (Chairman) Mary Mc, Duffie (President & CEO) Products, Inspecting; consumer loans; home loans; credit cards; financial investments; electronic banking; certificates of deposit (CDs); cash marketing account; IRA; ESA$ 148 Billion USD (July, 2021)Members10,600,000 (July, 2021)Number of employees19,000 Navy Federal Financial Group (CUSO)Website Navy Federal Cooperative Credit Union (or Navy Federal) is an international credit union headquartered in Vienna, Virginia, chartered and regulated under the authority of the National Cooperative Credit Union Administration (NCUA).

Since July 2021, Navy Federal has $138. 6 billion USD in properties, and has 10. 6 million members. History [modify] Navy Federal was originally integrated on 17 January 1933 as the Navy Department Worker' Credit Union of the District of Columbia (NDCU). Just You Can Try This Source who were members of the federal workers' labor union and members of their families were eligible to sign up with.

On July 17, 1947, the cooperative credit union was approved a Federal Charter as a credit union, called Navy Department Employees Federal Cooperative Credit Union (NDEFCU). It likewise expanded subscription to include all Navy workers in the Washington, DC area, both military and civilian. In 1954, the credit union changed its charter once again to open membership to Navy and Marine Corp officers all over, despite geographic area, and altered its name to Navy Federal Cooperative Credit Union.

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By April 1962, the cooperative credit union reached a milestone, becoming the greatest credit union on the planet, a difference which it still holds today. In 1977, the credit union moved into its present head office in Vienna, Virginia, ultimately undergoing several significant growths of its facility there. In 2003, the cooperative credit union opened its membership further, to include Navy specialists.

Members of these prior credit unions stayed members of Navy Federal after the merger (following NCUA's policy of "when a member, constantly a member"). In September 2010, Navy Federal Cooperative credit union revealed plans to absorb/merge with USA Fed, specifying that joint operations would start 4 October 2010 under the Navy Federal banner.