Navy Federal Credit Union · Vienna, VA United States
Company Description
View Navy Federal Credit Union Locations On A US Map
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This link will open in a new window "Once a member, always a member," promises Navy Federal Credit Union (NFCU). This policy undoubtedly helped NFCU become one of the nation's largest credit unions, claiming more than 3 million members who can retain their credit union privileges even after discharge from the armed services. Formed in 1933, NFCU provides a variety of banking services to all Department of Defense uniformed personnel, reservists, national guard personnel, civilian employees, and contractors, as well as their families. NFCU offers checking, savings, and other deposit accounts; credit cards; insurance; investments; brokerage, trust services, and a variety of loans. It has about 150 branch locations in the US and overseas. To read the full description, subscribe now.
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Key Navy Federal Credit Union Financials
| Company Type | Private - Not-for-Profit Headquarters |
| Fiscal Year-End | December |
| 2007 Sales (mil.) | $2,373.3 |
| 2007 Employees | 7,000 |
Navy Federal Credit Union Executives
21 executives listed for Navy Federal Credit Union's Vienna, VA location.
| Title | Name & Bio | Contact |
| Chairman | John Lockard | Network |
| First Vice Chairman | Kenneth Burns | Network |
| Second Vice Chairman | Bruce Engelhardt | Network |
Competition
Competitive Landscape for Navy Federal Credit Union
Demand for banking services is closely tied to economic activity and the level of interest rates. The profitability of individual banks depends on marketing skills, efficient operations, and good risk management. Large economies of scale exist in some segments of the industry, which has encouraged industry consolidation. Smaller banks can compete successfully in segments where customer service or knowledge of the local market is more important. The industry is capital-intensive and highly automated: annual revenue per employee is close to $300,000. Many banks and thrifts aggressively offered adjustable rate and subprime mortgages during the housing boom of the early 2000s only to find themselves saddled with loan defaults and extensive losses when the housing bubble burst. Deep exposure to subprime mortgages and mortgage-backed securities caused bank failures, government takeovers, and involuntary mergers. To read the full description, subscribe now.Top Navy Federal Credit Union Competitors
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