NavyArmy Federal Credit Union

NavyArmy Federal Credit Union

Type	Credit union
Industry	Financial services
Founded	1955
Headquarters	Corpus Christi, Texas, United States
Number of locations	11[1]
Area served	all people, businesses and/or legal entities who live, work, worship and/or go to school in Aransas, Bee, Jim Wells, Kleberg, Nueces, and San Patricio counties
Key people	Wayne Vann, President/CEO VADM John Jackson, Chairman
Products	Savings; checking; consumer loans; mortgages;credit cards; investments; online banking
Total assets	$1.1B USD (2010)
Website	NavyArmyFCU.com

NavyArmy Federal Credit Union (or NavyArmy) is a credit union headquartered in Corpus Christi, Texas, chartered and regulated under the authority of the National Credit Union Administration (NCUA) of the U.S. federal government. NavyArmy is third largest military credit union and the largest credit union in the coastal bend. As of October 2010, NavyArmy had over $1.1 billion USD in assets, and over 82,000 members.^[2][3]

NavyArmy was ranked number 1 on the 2011 Best Places to Work in the Coastal Bend list, which is produced by the Corpus Christi Human Resource Management Association.^[4]

History

NavyArmy was originally incorporated on January 28, 1955 as Naval Employees Corpus Christi Federal Credit Union. Only employees Naval Air Station Corpus Christi were eligible to join. In 2003, the credit union changed its charter to open membership to all residents of the coastal bend.^[5]

Membership

NavyArmy's field of membership is set by the National Credit Union Administration (NCUA). As with all credit unions, membership in NavyArmy is limited to individuals sharing the common bond defined in its credit unioncharter. Membership in NavyArmy is limited to all people, businesses and/or legal entities who live, work, worship and/or go to school in Aransas, Bee, Jim Wells, Kleberg, Nueces, and San Patricio counties.^[2]

Organization

NavyArmy is chartered with NCUA as a community credit union. Like all credit unions, NavyArmy is governed by a board of volunteers, elected by and from its membership.

In the summer of 2011 the board of NavyArmy proposed changing from a federal charter to a State of Texas charter. This change would provide NavyArmy the opportunity to expand into additional geographic areas of Texas.^[6]

Services

NavyArmy offers the typical suite of account services offered by most financial institutions, including savings accounts, checking accounts, IRA accounts, and certificates. The savings product is named "Share Savings" to reflect the fact that a member's initial savings deposit ($15) literally represents their share of ownership in the credit union. NavyArmy also offers members consumerloans, mortgages and home equity lines of credit, as well as some small business services.

As of January 2011, NavyArmy has 11 branches and over 350 ATMs, located both in its coastal bend service area and in hundreds of Stripes convenience stores in Texas and Oklahoma. NavyArmy offers extensive online services via its corporate website,NavyArmy Online.

See Also

Navy Federal Credit Union

References

1. ^ Branch Locations
2. ^ ^{a b} "about NavyArmy". http://www.navyarmyfcu.com/about.aspx#about. Retrieved 2011-08-28. 
3. ^ "How Military Credit Unions Work". http://science.howstuffworks.com/military-credit-union2.htm. Retrieved 2011-08-28. 
4. ^ "Banquet honors best places to work in the Coastal Bend". Corpus Christi Caller-Times. 2011-02-09. http://www.caller.com/news/2011/feb/09/banquet-honors-best-places-to-work-in-the-bend/?print=1. 
5. ^ Sally Martin & Jen Kirchner (2006-07-26). "Navy Army Federal Credit Union Offers Members Protection from America's Fastest Growing Crime; Joining the Fight Against Identity Theft". BusinessWire. http://www.businesswire.com/news/home/20060726005065/en/Navy-Army-Federal-Credit-Union-Offers-Members. 
6. ^ Wayne Vann. "message from the president". http://www.navyarmyfcu.com/about.aspx#welcome. Retrieved 2011-08-28.