Navy Federal Bank
The Navy Federal Bank was established by seven Navy personnel in 1933, during the Great Depression. The Navy Federal Bank started off as a savings club and then evolved into a credit union. Since then it has grown exponentially and today has 2.5 million members. This makes it the largest credit union in the world in the world today. The vision of the Navy Federal Bank is to “perform with such excellence that all present and potential members will choose Navy Federal as the preferred source for their primary lifetime financial services.” The Navy Federal Bank is technically a credit union which means they serve only the interest of their members, not stockholders or presidents. All Department of the Navy (DON) Personnel, regardless of location or rank, and their families are eligible to be members of the Navy Federal Credit Union. Other eligible people include DON Contractors, DON Officer Candidate programs, military and civilian personnel employed by the U.S. Government assigned to, stationed at or working at a Navy installation, and the families of all of the above. Additionally, once a family member joins, they can extend the membership opportunity to their family members as well. Also, once you become a member of the Navy Federal bank, you stay a member even if