President's Message
Dietrich Kuhlmann’s Message to Members
As we settle into a new year, I want to begin by saying thank you for your ongoing loyalty and commitment to Navy Federal Credit Union.
Despite a challenging interest rate environment and some persistent roadblocks in our economy, Navy Federal delivered a solid financial year in 2024, and we expect the same in 2025.
Overall, the credit union’s financial stability allows us to invest in the things that matter most to you. In fact, thanks to the many changes announced last fall, Navy Federal now returns nearly $4.5 billion to our members annually.
A strong financial footing has also helped us go a step further as we strive to offer you the most seamless and secure banking experience possible. Specifically, we were able to enhance our technology infrastructure to make Navy Federal’s systems stronger and more resilient than ever before; we continue to maintain 24-7-365 system, security, and fraud monitoring services; and we reduced our answering speed for member phone calls to 72 seconds—a 40% improvement from 2023—despite fielding over 50 million calls throughout the year. What’s more, after opening 12 new branches last year, we’re planning to open another dozen or so in 2025.
Our goal of improved member service was also the motivation behind our new mobile app launch in 2024. Designed to create a simpler, more unified banking experience, many of the changes in this new platform come directly from feedback we’ve received from members over the past few years.
Finally, as we wrapped up 2024, Navy Federal was thrilled to partner with the Marine Toys for Tots Foundation for the 27th straight year. Thanks to the generosity of so many of you, we set an annual record for donations, collecting 29,000 new toys and nearly $50,000 to make the holidays a little brighter for families in need across the country. It was an excellent way to end the year and a reminder of the great work we can do together.
As always, thank you for your partnership, your support, and for placing your trust in Navy Federal.
Sincerely,
Dietrich Kuhlmann
President/CEO
Navy Federal Credit Union
Our Members Are the Mission®