Navy Federal Credit Union has announced a new multi-year partnership with several nonprofit organizations dedicated to serving the military community. The collaboration involves the Bob Woodruff Foundation, Navy-Marine Corps Relief Society, Air Force Aid Society, Coast Guard Mutual Assistance, and Army Emergency Relief. This initiative aims to support these organizations in achieving their service-oriented goals and aligns with Navy Federal's commitment to assisting America's military community.

The funding for this investment comes from the fixed-fee Navy Federal earns through its contract with the Department of Defense (DoD) to operate overseas Military Banking Facilities as part of the DoD Overseas Military Banking Program.

"Navy Federal is proud to have the opportunity to support these phenomenal partners and further our mission to America’s broader military community," stated Dietrich Kuhlmann, President and CEO of Navy Federal Credit Union. "Each of these groups shares Navy Federal’s commitment to America’s Veterans, Active Duty servicemembers and their families, and we are honored to be able to support the wonderful work they do on behalf of those who serve and defend our nation."

This announcement follows a previous strategic relationship established in September between Navy Federal and the USO. The aim was to enhance financial education support for America's military personnel.

In addition, last fall saw Navy Federal awarded a contract by the DoD to manage Military Banking Facilities known as Community Bank. These facilities serve US servicemembers and their families overseas. As part of this agreement, Navy Federal now operates 60 MBFs and 270 ATMs across designated DoD installations in Europe and the Pacific.

Anne Marie Dougherty, CEO of the Bob Woodruff Foundation, expressed enthusiasm about this collaboration: "Our work is rooted in a commitment to supporting servicemembers, Veterans and their families. Our partnership with Navy Federal Credit Union and the military relief organizations enables us to extend our impact even further. By working with these organizations, we’re able to reach more servicemembers in need, ensuring critical resources are readily available to those who give so much in service to our nation."

Founded in 1933 with just seven members, Navy Federal now serves over 14 million members globally as the world’s largest credit union. Membership includes all Department of Defense and Coast Guard Active Duty personnel, Veterans, civilians, contractors, and their families.