Navy Federal Credit Union 2007 Annual Report Download - page 9

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2007 Annual Report 7
PRODUCTS
Savings
•Expanded our certificate line to
include a $100,000-minimum
Jumbo Certificate.
•Expanded our Money Market
Savings Account line to include a
$50,000-minimum deposit account.
•Introduced a 4-tiered Traditional
IRA and Education IRA Money
Market Savings Account, up to a
$50,000-minimum.
•Made two limited-time offer
certificate specials, both with a
6.00% APY.
Investments & Insurance
•Established an investments and
insurance call center staffed with
Navy Federal employees who are
licensed agents, eliminating the
need to refer members to outside
consultants and providing more
rapid response.
•Made financial advisors available
in an additional 15 branches, for a
total of 98 service locations.
Mortgage and Equity Loans
•Created the new Active Duty
Choice mortgage, which requires
little or no money down and
no PMI.
•Made several limited-time cash
rebate offers to members refinanc-
ing a mortgage or purchasing
a home.
•Began offering a 0.25% APR
(Annual Percentage Rate) discount
on new fixed equity loans when
members sign up for automatic
payments from a Navy Federal
checking account.
•Settlement services for home
equity loans expanded to 48 states
and the District of Columbia.
SPECIAL RECOGNITION
•Navy Federal was top-rated for
fraud prevention and resolution in
“2007 Card Issuers’ Identity Safety
Scoreboard” by Javelin Strategy
and Research.
•Navy Federal was ranked one of
the top credit card issuers, based on
overall member satisfaction, by a
well-known consumer magazine.
We came in ahead of Bank of
America, Citibank, Capital One,
Wells Fargo and other major credit
card issuers.
•The initial structure within
Navy Federal’s Pensacola, Florida,
Heritage Oaks facility received the
highest award from BusinessWeek
and Architectural Record maga-
zines’ 10th annual “Good Design is
Good Business” competition. The
Florida facility was one of four
winners selected from a pool of
96 projects from nine different
countries. Consideration was given
to the building’s design elements
that have led to improvements in
such things as employee retention,
energy costs, productivity or revenue.
The building is also the first
commercial one in Florida to
receive a Gold Leadership in Energy
and Environmental Design (LEED)
green building certification by the
U.S. Green Building Council.
•Our Athens Branch at Naval
Supply School in Athens, Georgia,
was named Department of the
Navy Credit Union of the Year by
the Defense Credit Union Council.
The award honors on-base credit
unions that serve the nation’s
military departments—Navy/
Marine Corps, Army and Air Force.
•For the twelfth year in a row,
Navy Federal’s St. Marys, Georgia,
branch was chosen “Best Financial
Institution” in the Readers Choice
Awards sponsored by the Tribune
& Georgian newspaper. The branch
was recognized for its superb cus-
tomer service and the active role it
plays in the community.