Navy Federal Credit Union

Navy Federal Credit Union is the largest credit union in the United States by assets and membership. It was founded in 1933 to serve members of the US Navy and has since grown to include all branches of the armed forces, the Department of Defense, the Coast Guard, and their families. Headquartered in Vienna, Virginia, it serves members across the country and at military installations worldwide.

As a credit union, Navy Federal is owned by its members rather than outside shareholders. This structure allows it to return profits to members in the form of competitive rates, lower fees, and member-focused services. Deposits are insured by the National Credit Union Administration, which provides the same federal protection as FDIC insurance does at banks, up to $250,000 per depositor.

Navy Federal commonly offers checking and savings accounts, credit cards, auto loans, personal loans, mortgages, and home equity products. It is well known for its competitive auto loan rates, which are frequently cited among the most affordable available to qualifying borrowers. It also offers a range of credit cards, including cashback and rewards options.

To join, a person must be an active duty or retired member of the military, a Department of Defense civilian employee, a contractor working on US government installations, or an immediate family member of an eligible person. Family eligibility is broad and includes spouses, parents, children, siblings, and grandparents of current members.

Navy Federal operates branches on or near military bases and in several major metro areas. It also offers full-service online and mobile banking. Customer service is available around the clock. Prospective members should verify their eligibility before applying, as membership must be established before most products can be accessed.