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Navy Federal Credit Union

Headquarters: 820 Follin Lane
Vienna, VA 22180
Employees: 10,000
CEO: Cutler Dawson
Member-owned credit union


Career Site

Navy Federal is the world's largest credit union serving the armed forces with over 4.3 million members. Originally founded to serve the Navy and its families, the Credit Union has expanded to serve all members of the Armed Forces including the Army, Air Force and Marines, Coast Guard and all Department of Defense civilian employees.

Since 1933, Navy Federal has grown from seven members to over 4.3 million members by offering checking and savings accounts, mortgages, insurance and credit cards. Navy Federal Credit Union has 229 branches and 478 ATMs worldwide with over $53 billion in assets.

Navy Federal Financial Group, a subsidiary of Navy Federal, offers an array of non- deposit products and services that complement the products and services provided through Navy Federal. These products and services include, investments, life insurance, financial planning, trust and estate planning, in addition to auto/homeowners/renters insurance and discount programs.

The company has been named one of the 100 Best Companies to Work For by Fortune magazine for the second straight year.

Navy Federal Credit Union announced it will expand its corporate operations in Pensacola, FL bringing new building construction and 1,500 new jobs to the region. Construction is planned to start in late 2013.


In 1933, during the Great Depression, seven civilian Navy personnel formed a self-help club. Each pledged $10-two weeks' wages-into a savings pool so that funds would be available for emergency loans.

Savings clubs, like this one, became credit unions. Formed during rough financial times, the benefits of these organizations remained when good times returned. As democratic cooperatives, they serve only the interest of their members, not stockholders or presidents.

From those original seven members to over 4.3 million members today - Navy Federal is now the largest credit union in the world.

In October 2010, Navy FCU merged with USA Federal Credit Union in San Diego.


Paid Leave/Vacation

* Vacation/Personal Leave
(Accruals based on years of service)
Full-time-Accrue 13-26 days per year
Part-time-Accrue 6.5-13 days per year
* Sick Leave
Full-time-Accrue 10 days per year
Part-time-Accrue 5 days per year
* 10 paid holidays per year
* Other Paid Leave
(full-time & part-time) Paid leave for specific types of military training and court leave
* Employee Leave Donation Program
The Annual Leave Donation Program permits employees to donate annual leave to assist a fellow employee who has exhausted leave and is facing serious illness/injury or catastrophic event.
Health/Vision/Dental Insurance

* Health Insurance -
Comprehensive medical coverage including preventive care, catastrophic coverage, prescription drugs and mental health/substance abuse care.

Choice of 3 plans-a PPO plan, an HMO plan and a TRICARE supplemental plan, depending on location. Navy Federal pays 75% of the health insurance premium.
* Vision Insurance -
Routine vision care coverage offered through an extensive provider network.
* Dental Insurance -
Comprehensive dental coverage including orthodontia.

Choice of 2 plans-a PPO plan or an Indemnity plan with basic coverage. Navy Federal pays 60% of the dental insurance premium.

Flexible Spending Accounts (FSA)

* Medical FSA -
You can contribute up to $5,000 a year on a pre-tax basis to pay for eligible health care expenses.


* Short-Term Disability -
Salary continuation and benefits if you experience an illness or injury (after 14 consecutive days).
o 75% continuation of pay for your first 30 days of disability.
o 60% continuation of pay for days 45­90.
o Continuation of elected benefits.
* Long-Term Disability -
o Salary continuation and benefits if you experience an illness or injury (after 90 consecutive days).
o 60% continuation of pay.

Wellness Program (at headquarters except where noted)

* Fitness center staffed by two full-time wellness professionals
* On-site exercise classes
* Wellness seminars
* Wellness incentive programs
* Wellness program for non-headquarters' employees
* Discounted 12-week weight loss program, "Weight Watchers at Work," for headquarters' employees

Employee Health Services

* On-site health unit at headquarters has three registered nurses who provide basic medical care for employee illnesses and injuries, routine screenings, over-the-counter medications, Mother's Room and doctor referral assistance
* Registered nurses available to field employees by telephone, fax and e-mail
* Assistance with substance abuse treatment programs
* First Aid and CPR training
* Free annual flu shots


All employees are eligible to become members of the credit union and are entitled to apply for the same affordable loans and credit cards, competitive savings programs and free checking accounts as their fellow members.

Life Insurance

* Group Term Life Insurance -
o Free coverage equal to 2 times your annual salary
o Free coverage for your spouse equal to $5,000
o Free coverage for each dependent child equal to $5,000 (or $500 if under 6 months)


* The Cash Balance defined benefit plan is available to all employees and is an employer-provided non-contributory retirement plan. You earn pay and interest credits each year and are vested after 2 years
* The 401(k) Savings Plan is an optional defined contribution retirement plan. You contribute pre-tax dollars and choose where you wish to invest your money. Navy Federal will match 100% on every dollar of the first 6% of pay you contribute

Retired employees can also receive:

* Retiree health care coverage
* Retiree medical supplement

Optional Programs

* Group Universal Life -
You can purchase additional life insurance coverage for you and your family.
o Self-up to $750,000
o Spouse-up to $250,000
o Child(ren)-$5,000 or $10,000
* Long Term Care Insurance for yourself and immediate family members available at group discounted rates
* Legal Service Insurance Protection available at group discounted rates
* Pet Health Insurance protection available at group discounted rates


* The Employee Assistance Plan offers access to professional counseling services as well as work/life resource and referral services.
* Social and recreational activities for employees and their families.
* Discount entertainment tickets on amusement parks, movies and local events.
* Mini-fairs, classes and seminars on a wide range of topics related to health and family issues.
* Annual "Bring Your Kids to Work Day"
* Business casual dress code
* Reimbursement for child adoption expenses. Navy Federal will provide up to a $2,500 reimbursement per successful adoption.
* Drug- and smoke-free work environment
* Full service cafeteria at headquarters

Updated May 27, 2013

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