Navy Federal Credit Union 2015 Annual Report Download - page 5

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2015 ANNUAL REPORT 3
The year 2015 was exceptional for Navy Federal Credit Union and our members—the men and
women of the armed forces and their families. Buoyed by a brighter economy, we experienced
strong growth on all fronts—in membership, deposits and loans.
Our primary mission to serve military families remains at the forefront of everything we do.
By anticipating and responding to changes in the marketplace and advances in technology,
we’re able to keep improving. Our products and services are designed to better the lives of
our members and to meet all of their financial goals—today and in the future.
OUR FAMILY CONTINUES TO GROW
The foundation of our success lies with our members. They encourage family, co-workers and
friends to join Navy Federal through conversations at work and the dinner table, in the stands at
sporting events and on social media.
Our total membership grew to 5.9 million, representing year-over-year growth
of 12.8 percent. These new members quickly engaged with us by depositing
$1.3 billion and borrowing $3.5 billion (compared to the $1.2 billion in savings
and $2.9 billion in loans from new members in 2014).
Our ability to oer market-leading rates helped our members meet their
savings goals. Total savings in 2015 increased $4.7 billion to reach $48.9 billion,
an increase of 10.7 percent from the previous year. Member investments
with our subsidiary, Navy Federal Financial Group, grew to $2.3 billion, a
7.4 percent increase. Navy Federal Financial Group oers investment services,
insurance products and financial planning to our members.
In 2015, we opened a record-breaking 900,000 new checking accounts,
bringing our total number to 4.1 million, with $9.2 billion on deposit. Our
members particularly value our free Active Duty Checking® and EveryDay
Checking accounts. All come with extra benefits, such as free checks,
Mobile* and Online Banking with free Bill Pay and debit cards. Our members
used their debit cards for more than 858 million point-of-sale transactions,
a 19.1 percent increase over 2014.
2015 In Review
Our members encourage
family, co-workers and
friends to join.
“My first few years in
the Navy, the only way
to join was to be stationed
overseas, forward deployed
or deployed overseas.
Here we are now 22 years
in, and all four of us are
Navy Federal members
with savings accounts
for the future!”
—The Bear family
REPORT OF THE CHAIRMAN & PRESIDENT