Vienna, VA

History of Navy Federal Credit Union

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Navy Federal Credit Union (or Navy Federal) is a global credit union headquartered in Vienna, Virginia that is chartered and regulated under the authority of the National Credit Union Administration. As of January 2023, Navy Federal has over one hundred fifty-six billion United States dollars in assets and currently has twelve million four hundred thousand members. Obviously, Navy Federal did not start out this way and has an extensive history that eventually allowed it to grow to the size that it is today.

Navy Federal was incorporated back on January 17th, 1933. Back in those days, it was not known as Navy Federal. It was known as the Navy Department Employees' Credit Union of the District of Columbia, or NDCU as it was often abbreviated as. In 1947, the credit union was given a federal charter as a credit union and was renamed to be known as the Navy Department Employees Federal Credit Union or NDEFCU for short. Membership was expanded to include all Navy personnel in the Washington, D.C. area, both military and civilian.

By 1962, the credit union became the biggest credit union not just in the United States of America, but on the entire planet! Then in 1977, the headquarters of the credit union was moved from Washington, D.C. to its current headquartered location in Virginia. In 2020, eligibility for joining Navy Federal included active, retired, and reserved members of the Army, Navy, Marines, Air Force, Coast Guard, and Space Force as well as contractors & civilian personnel within the Department of Defense.

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