Navy Federal Credit Union: How It Ranks

Navy Federal Credit Union is not only the largest credit union in the country (by a wide margin) but in our view is also one of the best credit unions. Despite having more than 11 million members, the credit union has continued to grow its membership base at a faster rate than most credit unions. Between 2020 and 2022 the credit union’s membership increased by a mind blowing 15% which represents the addition of 1.5 million new members! In addition to this, Navy Federal Credit Union has excellent dividend rates and is one of the best run credit unions from an operating cost standpoint.

Overview of Navy Federal Credit Union

Navy Federal Credit Union is the largest credit union in the country when measured by assets and also by total members. The credit union was established in 1947 and currently has 354 branches and employs more than 21,000 people across the country.

The credit union offers a full suite of banking products for its members including:

  • Checking Accounts – with its Flagship Checking account, members get up to $120 of ATM rebates each year and can earn 0.35-0.45% APY on their account balances, which is 3-4x the national average interest rate paid on consumer bank balances
  • Savings Accounts – standard savings rate is 0.25%, which is 2.5x the national average
  • Credit Cards – 6 different cards to choose from
  • Mortgages Loans – Navy Federal Credit Union has particular expertise in VA Loans
  • Personal Loans – the credit union offers many personal loan options with APRs ranging from 7.5-18% and includes savings secured loans for consumers looking to build credit

Who Can Join?

Membership is open to individuals that have direct or indirect (through family or household members) ties to the armed forces, Department of Defense or National Guard.

Contact Information

  • Main Office Address: 820 Follin Lane, Vienna, VA 22180
  • Website:
  • Phone: (888) 842-6328
  • Charter Number: 5536
  • Charter Year: 1947
  • Employees: 20,602
  • Navy Federal Credit Union Routing Number: 256074974
  • Membership Trends: On average, credit unions in Virginia each have 160,249 members while across the United States the equivalent figure is 26,711. By comparison, Navy Federal Credit Union has total members of 11,423,451 which is significantly larger than the average credit union in the state. Over the past three years, the credit union’s total base of members has increased by 39%.

Financial Metrics (as of March 2022):

  • Total Assets: $160,441 million
  • Total Loans: $96,745 million
  • Total Net Worth: $17,756 million
  • Total Net Worth Per Member: $1,554
  • Net Worth Ratio: 11.1%. Based on the NCUA guidelines, this credit union is well capitalized.

Other Credit Unions in Virginia

There are currently 108 credit unions operating in the state of Virginia and combined these credit unions have 16.7 million members. In addition to this credit union, you may also be eligible to join the following credit unions in the state: Roanoke Valley Community Credit Union, Northwest Credit Union and Spectra Credit Union.