Navy Federal Credit Union 2010 Annual Report Download - page 7

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2010 Annual Report 9
Navy Federal Credit Union
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From new products to new partnerships,
we enhanced our products and services
to attend to your financial needs.
123
45
Navy Federal’s savings rates
remained highly competitive and
contributed to the overall growth
in deposits—nearly $3 billion
total. One example is the popular
EasyStartSM Certificate that
required just $50 to open and
earned an impressive 3.5% APY.
New auto loan rates as low as 1.99%
APR
helped thousands of members
drive away in style. And, finding
the right car got easier when we
launched our new Auto Buying
service in December.
A new Visa Signature® Flagship
Rewards card was introduced,
featuring premier offers and superior
travel rewards. Navy Federal’s credit
cards have been recognized by a
leading consumer magazine as
“Best in Class” based on overall
member satisfaction.
We introduced Navy Federal’s most
convenient branch with the launch
of our iPhone® appli cation in
mid-2010. Now, managing personal
finances is just a tap away. By the
end of the year, nearly 170,000
applications were downloaded.
From small start-ups to thriving
companies, Navy Federal was there
to help members’ businesses grow.
That explains why our Business
Services membership grew by
25% in 2010.
Members performed nearly
16 million ATM transactions
at free CO-OP machines. Service
was further enhanced with the
expansion of deposit-taking
capabilities beyond the ATMs
located in 7-Eleven® stores.
30% of members who came to
Navy Federal for a mortgage used
the services of our RealtyPlus®
program, a national real estate
assistance program that links
buyers and sellers with local
agents. RealtyPlus returned over
$2.8 million in rebates to members
who used their services.
Back by popular demand, the
HomeBuyers Choice mortgage
with 100% financing made buying
a home even easier. And, our
special mortgage programs for
military members helped make
homeownership a reality for
many families.
Our Equifax® program was
improved with the introduction
of Debt Wise™, an online service
that helps members create a
detailed, personal plan to help them
reduce their debt more quickly.
Navy Federal Financial Group
helped members achieve their
financial goals with free financial
seminars and personal advice.
Discount homeowners and renters
insurance was introduced through
our partnership with GEICO®.
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