Navy Federal Credit Union has reached a significant milestone by welcoming its 15 millionth member this fall. To mark the occasion, the credit union announced plans to donate over $10 million in 2025 to more than 500 organizations that support servicemembers, veterans, and their families.
This year’s philanthropic efforts include both large financial contributions and smaller donations, as well as volunteer work from employees who receive eight hours of paid volunteer leave annually. The credit union also continued its interest-free paycheck-assistance program for eligible members affected by government shutdowns. In previous shutdowns, Navy Federal provided more than 195,000 loans totaling over $350 million with no impact on members’ credit histories and no interest charged. Additionally, the organization helped members manage more than $2.5 billion in loan balances during these periods.
In 2024, Navy Federal members collectively earned and saved over $4.3 billion through favorable interest rates, lower fees, and exclusive discounts. The institution continues to offer products tailored to military families, including a new resource hub designed to assist with permanent changes of station (PCS). This hub provides tools such as checklists, spending calculators, bill managers, and access to financial counselors.
New offerings this year include a secured credit card with unlimited 1% cash back on all purchases and a graduate student loan product aimed at supporting advanced education pursuits. Enhancements have also been made to checking accounts and other services. Navy Federal has entered into a partnership with over 130 other credit unions to invest in fintech solutions focused on automating lending processes, preventing fraud, and improving the member experience. Investments in artificial intelligence and digital investment tools are also underway.
The organization operates more than 370 branches worldwide—many located on or near military bases—and manages the Overseas Military Banking Program alongside the U.S. Department of Defense under the name “Community Bank.” This program offers currency exchange services and specialized banking options across ten countries and territories for deployed servicemembers.
Forrester’s Customer Experience Index ranked Navy Federal first among U.S. multichannel banks for customer experience quality for the tenth consecutive year. The institution was also recognized by FORTUNE as one of the 100 Best Companies to Work For (14 years running), by Newsweek as one of America’s Most Trustworthy Companies, by People as one of 100 Companies that Care, and by Forbes for company culture.
“For nearly 93 years, Navy Federal has been driven by our commitment to give back to the community that gives so much to our country,” said Dietrich Kuhlmann, Navy Federal’s President and CEO. “We carry out this pledge every day—across hundreds of branches worldwide, through products and services tailored to military families, and with active volunteer engagement in military communities. As we mark a new milestone in our membership, Navy Federal remains focused on ensuring we are properly positioned to serve the financial needs of America’s men and women in uniform, our nation’s Veterans, and their families.”
A new Office of Military Affairs and Strategic Partnerships was launched this year under Retired US Navy Captain Keith Hoskins’ leadership. This unit aims to enhance philanthropic activities within military communities while advocating for policies that benefit financial cooperatives serving their members’ needs.
One notable initiative is a three-year partnership with the USO funded by a $9 million investment from Navy Federal ($3 million per year from 2024–2026) that expands financial education programs for early-career servicemembers and spouses.
The credit union collaborates with various organizations such as military relief societies; The Bob Woodruff Foundation; Armed Services YMCA; Travis Manion Foundation; Marine Toys for Tots Foundation; Hire Heroes USA; The Honor Foundation; Portraits For Patriots; DogTag Inc.; Feeding America through No Plate Left Behind campaign—which provided over 28 million meals nationwide—and others supporting food security or transition assistance for veterans.
Employee-driven initiatives like Dollars for Doers have awarded nearly $2 million over eighteen years—including grants benefiting causes related to military families—and annual Back-to-School campaigns have collected school supplies worth over $20,000 last year alone.
Navy Federal is also recognized as an official Military Appreciation Partner of the National Hockey League (NHL), hosting unique events such as an all-veteran hockey tournament during its annual NHL Stadium SeriesTM event alongside sponsorships like Military Makeover with Montel home remodeling show or MAM JAM concert series featuring artists such as Dan + Shay.
“We’re grateful to every one of our 15 million members for the trust they continue to place in us,” said Kara Cardona, COO at Navy Federal Credit Union. “As we celebrate this milestone and pay tribute to our nation’s Servicemembers, Veterans and their families, Navy Federal is singularly focused on our mission to put our members first. This means equipping our team to provide world-class service offering the very best and most meaningful financial products support continuing work strengthen communities which live work.”
Founded in 1933 with just seven members,Navy Federal now serves more than fifteen million people globally,making it largest credit union worldwide.Membership includes Department Defense Coast Guard Active Duty,Veterans,civilian contractor personnel,their families.With workforce exceeding twenty-five thousand,and global network surpassing three hundred seventy branches,Navy Federal operates Overseas Military Banking Program authorized Department Defense providing deployed servicemembers access sixty branches hundreds ATMs ten countries territories.More information can be found at navyfederal.org.