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Navy Federal Credit Union (or Navy Federal) is an American global credit union headquartered in Vienna, Virginia, chartered and regulated under the authority of the National Credit Union Administration (NCUA). Navy Federal is the largest natural member (or retail) credit union in the United States, both in asset size and in membership.
The National Credit Union Administration is the U.S. independent federal agency that supervises and charters federal credit unions. As of December 31, 2022, there were 4,760 federally insured credit unions in the United States with 135.3 million members.
As of March 2020, the largest American credit union was Navy Federal Credit Union, serving U.S. Department of Defense employees, contractors, and families of servicepeople, with over $125 billion in assets and over 9.1 million members. Total credit union assets in the U.S. reached $1 trillion as of March 2012.
Is a credit union FDIC insured? The Federal Deposit Insurance Corporation federally insures most traditional banks in case of failure. But credit unions are not considered traditional banks.
Pentagon Federal Credit Union, widely known by its abbreviated name PenFed, is a United States federal credit union headquartered in McLean, Virginia, chartered and regulated under the authority of the National Credit Union Administration (NCUA).
Creighton University ( / ˈkreɪtən /) is a private research university in Omaha, Nebraska. Founded by the Society of Jesus in 1878, the university is accredited by the Higher Learning Commission. In 2015 the university enrolled 8,393 graduate and undergraduate students on a 140-acre (57 ha) [6] campus just outside of downtown Omaha.
A credit union is a member-owned nonprofit cooperative financial institution. They may offer financial services equivalent to those of commercial banks, such as share accounts ( savings accounts ), share draft accounts ( cheque accounts ), credit cards, credit, share term certificates ( certificates of deposit ), and online banking.
Location. Arlington, Virginia, United States. Chief Executive Officer. Dan Berger. Parent organization. America's Credit Unions. Website. www .nafcu .org. The National Association of Federally-Insured Credit Unions ( NAFCU) is a U.S. trade organization representing the nation's federally-insured credit unions.
The first working credit union models sprang up in Germany in the 1850s and 1860s, and by the end of the 19th Century had taken root in much of Europe. They drew inspiration from cooperative successes in other sectors, such as retail and agricultural marketing (see history of the cooperative movement ).
The Federal Credit Union Act is an Act of Congress enacted in 1934. The purpose of the law was to make credit available and promote thrift through a national system of nonprofit, cooperative credit unions.