Navy Federal Credit Union

By : Rahma Dwigunawati (120310090077)Lucky Adi Putra (120310090011)Julius Panjaitan (1203100900xx)

Navy Federal Credit Union operates as a credit union. The company’s products include share savings, checking, money market savings, certificates of deposit, individual retirement accounts, education savings accounts and certificates, and custom club accounts. It also offers auto, signature, equity, education, shares secured, and certificate pledged loans, as well as auto leasing, motorcycle, boat and collateral loans mortgages, and line of credit; debit cards and credit cards; secured and unsecured term loans, vehicle loans, and investment property mortgage loans. The company also provides business checking merchant card processing, and retirement and insurance services. 

Navy Federal Credit has branches in the United States, Bahrain, Cuba, Diego Garcia, Greece, Guam, Hong Kong, Iceland, Italy, Japan, Singapore, and Spain.

In 1933, Navy Federal Credit Union was founded in and it is based in Vienna, Virginia. Seven Department of the Navy employees founded Navy Federal Credit Union as a member-owned, not-for-profit financial institution. Now, many years later, it has grown to be the world's largest credit union and a high-tech leader in the financial services industry. It has branches and hundreds of ATMs worldwide and more than 5,000 employees.

Since 1933, Navy Federal has grown from seven members to over 3 million members. And since that time, our vision statement has remained the same:“You can leave the military, change employers, move, retire, get married—and never have to leave Navy Federal. "Once a member, always a member."

Products and Services

LOANSMortgagesEquityAutoMotorcycle, Boat & RVMore Loans

CHECKING & SAVINGSCheckingSavingsMoney MarketCertificatesIRAsDirect Deposit

CARDSCredit CardsDebit / Check CardsGift CardsVisa Buxx Prepaid Card

BUSINESS SERVICESOverviewChecking & SavingsLoansCredit CardsRetirement & Insurance

INVESTMENTS & INSURANCENavy Federal Financial GroupInvestmentsInsuranceTrust Services

ONLINE & MOBILE BANKINGAccount AccessMobile Banking

Why Choose Navy Federal?Many members join because of our competitive deposit products and checking accounts that earn dividends and offer ATM rebates. For some, it's our attractive loan rates—maybe to get that first new car. Parents sign up their kids, often as infants. But once they join, they stay because of our commitment to our members. Others join because their friends, coworkers or military colleagues recommend us.Founded over 75 years ago on service to the military and their families, we understand your needs, and we will always act in your best interest. We are a member-owned credit union—you always come first.

The Navy Federal Code of EthicsIn accordance with Board Policy, every Director, Committee Member, Officer, Agent, Attorney and Employee of Navy Federal Credit Union shall be guided by the Code of Ethics set forth below and should:

• Act with the highest degree of integrity, which requires being honest and candid.• Recognize and accept personal responsibility to build and maintain the credit union's good name and reputation• Give earnest effort and best thought to the performance of all duties.• Never use credit union equipment, systems, software, rooms, offices, facilities or supplies unless authorized by proper authority.• Protect the privacy and confidentiality of personal information of staff and members, and member financial records and transactions discussed at board meetings.• Not disclose sensitive operational or competitive issues discussed during meetings of the board of directors or committees with outside parties. • Disclosures to representatives of the media will only be made by parties specifically named to do so.• Never use any information obtained in the performance of credit union duties as a means for personal gain or benefit. Disclose, to the Chairman (in the case of officials) or to the cognizant Vice President (in the case of employees): 1- all potential conflicts of interest, including those in which they are inadvertently placed due to a business or personal relationship with another employee, any member, supplier, business associate, or competitor of the credit union, or any other entity with which the credit union does business; 2- all fraudulent activity, dishonesty or corruption wherever discovered; 3- evidence of violation of the laws, rules or regulations applicable to Navy Federal and the operation of its business, or of a violation of this Code of Ethics.

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• Provide the highest level of service in a courteous and professional manner and treat all individuals fairly without regard to age, race, color, national origin, sex, religion, disability, veteran's status, social and economic status or any other basis protected by law. • Never act unfairly by granting any special favors or privileges to anyone, whether for remuneration or not.• Never solicit or accept for personal gain (or for the benefit of any third party except the credit union) any gift, gratuity, benefit or unusual hospitality that might be construed by reasonable persons as tending in any way to influence one in the performance of duties; nor accept anything of value in connection with the credit union's business after any transaction is discussed or completed.• Never process or give authorization to process any paper, monetary or data transactions for own accounts; accounts on which employee is a joint owner, a custodian or a trustee; accounts belonging to any family member, or to any substantive equivalent of a relative.• Never mislead, coerce, manipulate or fraudulently influence the National Credit Union Administration examiners, external auditors or internal auditors preparing an audit report for the purpose of making the report inaccurate.• Never engage in business with the credit union, either directly or indirectly, which is inconsistent with the honest performance of duties.• Never participate on behalf of the credit union, directly or indirectly, in any deliberations or decisions on any question in which one has a personal monetary interest, including any decisions affecting the procurement of equipment, supplies or services from any source.• Uphold these principles as fundamental to the well-being of the credit union and to its continued service, growth and progress.

About Credit UnionsNot for profit, not for charity, but for service.* In credit unions, members are owners, not just "customers." Members control their credit unions; each member has one vote. Only members can use their services*Credit unions' volunteer representatives serve on boards of directors, credit committees and supervisory committees*Credit unions are nonprofit—surplus funds return to members as dividends, reduced loan interest and service improvements*Credit unions help members gain economic independence, no matter their income, and educate their members in finance and current events*Credit unions cooperate with each other worldwide, out of concern for their members

Navy Federal’s Framework

The credit union serves all Department of the Navy (DON) and civilian personnel, contractors who provide service to or work for the DON on a regular basis, and their families. Business Drivers for Dashboards Navy Federal needed technology that provided both a real-time view into the key performance indicators (KPIs), and the ability to be notified through e-mail alerts when KPI thresholds are exceeded. They required a scalable  product that could meet its ultimate goal of rolling it out to about 5,000 employees. they required several important features and characteristics, including an intuitive user interface, the power to easily change the dashboards, live drill-down capability and a user-security framework. A dashboard solution was sought to visually evaluate Navy Federals’ operational key performance indicators (KPIs) and to support timely decision making. 

 End Solution As a result of the joint collaboration between the iDashboards Professional Services team and the Navy Federal team, a dashboard solution was developed to convey live operation information to its managers to help in prompt and timely decision making. Navy Federal went from the proof of concept stage to launching iDashboards within the lending department and the new-account-opening pipeline, as well as other business areas. They have also utilized iDashboards BAM module (Business Activity Monitoring) permitting management to receive email alerts when chart thresholds have been surpassed, so that immediate action can be taken. 

Membership

Navy Federal's field of membership is set by the National Credit Union Administration (NCUA). As with all credit unions, membership in Navy Federal is limited to individuals sharing the common bond defined in its credit union charter. Membership in Navy Federal is limited to:

*All Department of Defense (DoD) uniformed personnel — Army, Navy, Air Force and Marine Corps, retirees and annuitants*All Department of Defense reservists — Army, Navy, Air Force and Marine Corps — regardless of drill status — retirees and annuitants*All Army and Air National Guard personnel — regardless of drill status — civilian employees, retirees and annuitants*All DoD Officer Candidate programs: midshipmen and cadets at the United States Naval Academy, United States Military Academy, United States Air Force Academy, United States Coast Guard Academy and the United States Merchant Marine Academy; personnel in Officer Candidate programs*All DoD civilian employees*U.S. government employees assigned to DoD installations*DoD contractors assigned to U.S. government installations*Employees of Navy Federal*Family members, including grandparents, parents, spouses, siblings, grandchildren, children (including adopted, foster and stepchildren) and household members

Organization

Navy Federal is chartered with NCUA as a single-sponsor credit union, with its sponsor being the Department of Defense. Like all credit unions, Navy Federal is governed by a board of volunteers, elected by and from its membership. Navy Federal also has a separate subsidiary, named Navy Federal Financial Group, which operates as a Credit Union Service Organization (CUSO). CUSOs were established by NCUA as a way for credit unions to pursue product offerings that would normally be outside of the purview of a credit union.

Competition

Navy Federal is not the only financial services company which specializes in serving the military. The credit union competes with other military credit unions, like Pentagon Federal Credit Union, USA Federal Credit Union as well as with some large banks including Bank Of America-Military Bank and USAA