Navy Federal Credit Union 2010 Annual Report Download - page 6

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2010 Annual Report 7
Navy Federal Credit Union
6
Last year’s accomplishments are a testimony
to our dedication to serve you further.
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Membership growth among our
military members was strong in
2010. Our Department of Defense
field of membership grew by more
than 260,000 Army, Marine
Corps, Navy, Air Force, and
DoD civilians.
We merged with USA Federal
Credit Union in San Diego, CA,
which added 45,000 new members
and 19 new branches in Korea,
Japan, and San Diego.
Stateside, we opened 14 new
branches including one at
the Pentagon. By year-end,
we had 212 branches worldwide,
many located on or near
military installations.
Historically low mortgage rates
spurred an increase in mortgage
applications as members rushed
to refinance or purchase a home.
We closed over 22,000 loans for
a total of $5.3 billion.
Mobile banking was introduced
in early 2010, and by year-end,
more than 360,000 members had
enrolled. They use this service to
check balances, transfer funds,
and receive account alerts.
We received a “Best in Class”
rating from the American Consumer
Satisfaction Index (ASCI), a service
of the University of Michgan’s
Ross School of Business.
We expanded our “Go Green”
initiative, sending more than 1.7
million statements electronically
each month.
Navy Federal Online Account
Access continued to grow in
popularity. Enrollment grew to
more than 3 million members who
regularly sign on to check balances,
transfer money, apply for loans,
and view account activity.
More than 1,800 new team
members joined Navy Federal to
help us provide the level of world-
class service our members both
expect and deserve. The majority
of our new employees started
their career with us in our 24/7
Contact Center or at a branch.
Our new, more functional
and user-friendly website
was introduced. Enhancements
included new calculators and
wizards to help members make
informed decisions about what
products and services best meet
their needs.
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CCOMPLISHMENTS