Navy Federal to expand its military reach

Posted to: Business

By Tom Shean
The Virginian-Pilot
© May 24, 2008

Navy Federal Credit Union, which serves members of the Navy and Marine Corps and Navy Department civilians, is broadening its field of membership to the Army, Air Force and National Guard and all Defense Department employees.

The Vienna-based credit union will keep the Navy Federal name. It is already the world's largest credit union, with 3.1 million members, including 300,000 in Hampton Roads. Its assets at the end of April were slightly more than $35 billion.

Navy Federal announced the broader eligibility for membership in the midst of a major expansion effort. The credit union said it will more than double the number of full-service branches by 2012. It now has 150 such branches, with 22 in Hampton Roads.

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