Navy Federal Credit Union 2006 Annual Report Download - page 12

Download and view the complete annual report

Please find page 12 of the 2006 Navy Federal Credit Union annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 27

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27

Navy Federal Annual Report 2006 19
18
John Berney
belongs to a
distinguished
brotherhood of
Navy Federal members
—veterans of World
War II. As a young
man from Nebraska, he
enlisted in the Navy,
served aboard the USS
New Jersey during the
war and made the
Navy his career. In
time, he married wife
Frances, and they had
three children.
John had to wait
23 years to join Navy
Federal, until after he
retired from the Navy.
“I planned it in
advance,” he said.
“Enlisted folks couldn’t
join Navy Federal
unless they were over-
seas where there wasn’t
another credit union
available. That was
eons ago.” Why has
he stayed a member?
“Well, I don’t think I
could do much better,”
he said. “I take the
word of others—if
it’s good enough for
them, it’s good enough
for me.”
The Berneys believe
in the value of work
and saving. After John’s
second career in retail
management, he and
Frances are now fully
retired in Virginia
Beach, VA. “I’m awful-
ly busy now,” he said,
but he devotes free time
to coin and stamp
collecting, in addition
to several trips a year
back to his roots in
Nebraska. The couple
is quite pleased to
receive yearly checks
from their Navy
Federal IRAs. In fact,
John also started IRAs
for each of his three
children and three
grandchildren. “I fig-
ured if they can have
an IRA account and
can’t use it until they’re
59½, it’ll be a stake
for them,” he said. “I
was raised during the
Depression, and you
know how that is.” His
two great-grandchildren
are too young for IRAs,
but he opened certifi-
cates for them to help
make sure they’re on
the right track.
G E N E R A T I O N S O F T R U S T
HE’SPASSING THE TRADITION OF
DISCIPLINED SAVING TO HIS HEIRS.
Product Checklist
Retirees
Savings
Kids Club
Checking
Visa®Check Card
Direct Deposit
Custom Club
Certificate
IRAs
Money Market
Account Access
Web Bill Pay
Personal Financial
Counseling
Education Loan
Auto Loan
Auto Insurance
Mortgage
Equity Loan
Flagship RewardsSM
Credit Card
Investments &
Insurance
Estate Planning
Small Business