Bank / Credit Union

Navy Federal Credit Union wins Department of Defense contract

Photo credit Игорь Головнёв - stock.adobe.com

September 28, 2023

Navy Federal Credit Union won a contract to operate the Oversees Military Banking Program with the Department of Defense. This program was established after World War II to provide banking services to active duty military, according to a press release.

With this contract, Navy Federal will operate 60 branches and 275 ATMs in Europe and the Pacific.

"We're very proud to have been awarded this contract. Supporting active-duty personnel and their families, wherever they are stationed, is at the core of Navy Federal's mission," Mary McDuffie, president and CEO of Navy Federal, said in the release. "We appreciate the trust the Department of Defense has placed in Navy Federal's ability to fulfill this mission."