Latest news with #ActiveDutyServicemembers
Business Wire
15-05-2025
- Business
- Business Wire
Navy Federal Unveils Member Savings Milestones, Highlighting Value of Membership and Commitment to Members' Financial Wellbeing
VIENNA, Va.--(BUSINESS WIRE)-- Navy Federal Credit Union 's recently released 2024 Member Giveback Study highlights value of membership by banking with the not-for-profit, member owned credit union. Members earned and saved a total of $4.32 billion in 2024 by banking with the credit union. With earnings and savings of $461 per year, members could earn and save $332 on better interest rates, as well as $129 in lower fees and discounts. Navy Federal reinvests surplus funds back to its members in the form of reduced loan rates, low fees, enhanced digital technology and expanded service—reaffirming its strong commitment to driving value for the military and Veteran community. Share The Member Giveback Study considers internal market analyses comparing Navy Federal products with industry national averages, discounts, incentives and other savings. Beyond yearly earnings and savings, the credit union offers market-leading certificates and an average credit card APR that's 7.25% lower than the industry average—up from 6.81% in 2023. 'Our sound financial position and close alignment with our members' values allows us to focus on what matters most: supporting the military and Veteran community,' said Mehdi Dinia, vice president of membership at Navy Federal. 'We continually look for ways to expand our impact on Active Duty Servicemembers, Veterans and their families—providing them with the essential tools and resources wherever they are in their financial journey.' As a not-for-profit, Navy Federal reinvests surplus funds back to its members in the form of reduced loan rates, low fees, enhanced digital technology and expanded service—reaffirming its strong commitment to driving value for the military and Veteran community. For example, in 2024, Navy Federal opened 12 new branches (4 times the number opened in 2023), upgraded mobile banking and launched new technology and payment solutions to help members manage their finances more efficiently. Last year, the credit union also announced a comprehensive series of investments committing roughly $450 million in annual givebacks to Navy Federal's 14 million members. This program adds to the more than $4 billion already given back to members annually in the form of dividends, enhanced services and reduced fees. Specifically, Navy Federal introduced new partnerships designed to extend support of all branches of the military, Veterans and their families, such as a $9 million investment to the USO and a multi-year, collective partnership with the Bob Woodruff Foundation, Navy-Marine Corps Relief Society, Air Force Aid Society, Coast Guard Mutual Assistance and Army Emergency Relief. To learn more about the value of membership with Navy Federal, visit Additionally, to read more highlights about Navy Federal's giveback efforts and financial performance, check out the 2024 Annual Report. Navy Federal Credit Union: Established in 1933 with only seven members, Navy Federal now has the distinct honor of serving more than 14 million members globally and is the world's largest credit union. As a member-owned and not-for-profit organization, Navy Federal always puts the financial needs of its members first. Membership is open to all Department of Defense and Coast Guard Active Duty, Veterans, civilian and contractor personnel, and their families. Navy Federal employs a workforce of over 25,000 and has a global network of more than 365 branches. For more information about Navy Federal Credit Union, visit Navy Federal is insured by NCUA. Equal Opportunity Employer.
USA Today
04-02-2025
- Health
- USA Today
Doug Collins confirmed to lead Veterans Affairs, aiming to cut red tape and provide care
WASHINGTON – The Senate voted on Tuesday to confirm Doug Collins as secretary of the Department of Veterans Affairs, where he has pledged to cut red tape and get veterans the health care they need. Collins, 58, previously served in the U.S. House as a Georgia Republican and for two decades in the military, including in Iraq in 2008. The Senate confirmed Collins by a vote of 77 to 23. "Our heroes deserve the best care and support," Collins said in a mid-November post on X when Trump chose him. "We'll fight tirelessly to streamline and cut regulations in the VA, root out corruption, and ensure every veteran receives the benefits they've earned." Collins was one of President Donald Trump's most vocal defenders as the top Republican on the House Judiciary Committee when it investigated Trump during his first administration and voted twice to impeach him. Trump was acquitted in both Senate trials. Collins is a Navy veteran, an Air Force reserve colonel and a chaplain. He's also a lawyer. At his confirmation hearing Jan. 21, Collins said his top priority will be to deliver veterans access to care and benefits. He also said the department must do more outreach to vulnerable veterans at risk of suicide or homelessness. 'The chaplaincy has taught me that leadership is about more than rank. It's about listening, having a servant's heart, motivating people and setting a good example for others to follow,' Collins said. 'And as a longtime congressman and attorney, I know the federal government and I have the policy background to solve complex problems, cut through red tape and get things done for those who have worn the uniform.' After eight years in the House, Collins ran for the Senate in 2020 with Trump's endorsement. But Collins finished third in a special election to former GOP Sen. Kelly Loeffler and Democratic Sen. Rafael Warnock. Warnock beat Loeffler in the runoff. The Department of Veterans Affairs provides benefits, health care, and cemetery services to military veterans. It employs nearly 371,000 health care professionals and support staff at VA medical facilities across the country. "We must take care of our brave men and women in uniform, and Doug will be a great advocate for our Active Duty Servicemembers, Veterans, and Military Families to ensure they have the support they need," Trump said in a statement announcing his choice of Collins.
