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Editor's Notes
Headquartered in Vienna, Virginia, Navy Federal Credit Union is the largest credit union in the world—in asset size and membership. Its financial services products range from CDs to mortgages and credit cards. Since 1933, Navy Federal has grown from seven members to over 4 million members. And since that time, their vision statement has remained focused on serving a unique field of membership. You can leave the military, change employers, move, retire, get married—and never have to leave Navy Federal. "Once a member, always a member.“
Be the most preferred and trusted financial institution serving the military and their families.
Navy Federal's business continuity plan prepares the credit union to respond rapidly in a local, regional or national emergency. The primary objectives of the continuity plan are to ensure employee safety, to safeguard credit union assets and member equity and to minimize inconvenience and disruption of service to members. The infrastructure for this plan includes call centers, branches and a worldwide telecommunication network.
During an emergency event at headquarters, employees will relocate to Navy Federal's recovery facility that has an emergency operations center, dedicated workstations and a backup data center.
Detailed plans and procedures are documented, reviewed and regularly tested.
-Navy federal make sure they Protect the privacy and confidentiality of personal information of staff and members, and member financial records and transactions discussed at board meetings.
Not disclose sensitive operational or competitive issues discussed during meetings of the board of directors or committees with outside parties. Disclosures to representatives of the media will only be made by parties specifically named to do so.
Never use any information obtained in the performance of credit union duties as a means for personal gain or benefit.
Never solicit or accept for personal gain (or for the benefit of any third party except the credit union) any gift, gratuity, benefit or unusual hospitality that might be construed by reasonable persons as tending in any way to influence one in the performance of duties; nor accept anything of value in connection with the credit union's business after any transaction is discussed or completed.
We have many reward programs that acknowledge our employees for their exceptional leadership, service, and commitment to our members and our organization. Every year, we recognize our employees' achievements with the following awards:
Sustained Superior Performance Award—Recognizes and rewards employees who have consistently exhibited superior performance throughout the course of the year.
Superior Achievement Award—Recognizes and rewards employees who perform substantially beyond expectations on a specific assignment or job function, or for a single one-time special act of service or achievement.
New Horizons Program—Rewards employees who have developed a new idea or suggestion that has enhanced member service, improved employee satisfaction, improved operational processes and/or reduced cost.
Samuel R. Pennestri Memorial Award—Recognizes and rewards one employee each year for their devoted and loyal leadership and/or service as demonstrated throughout an employee's career.
President's Award for Leadership Excellence—Recognizes and rewards an individual for exceptional leadership to the organization by those who foster an environment of service and managerial excellence.
Richard Cobb Award for Excellence in Member Service—Once a year, we reward branch offices and a field mortgage office that demonstrate the highest level of dedication to member service.
Service Anniversary Recognition Program—Recognizes an employee's tenure through the presentation of a nameplate and lapel pin/charm for each five year increment. In addition, employees with 10 or more years of service receive a gift at each subsequent five year anniversary.
What are risk factors?
Risk factors are measurable characteristics or elements, a change in which can affect the value or an asset; such as exchange rate, interest rate, and market prices.
Your accounts are backed by Navy Federal's assets and reserves. For an update on our operating statistics, please visit About Navy Federal.
They invest your savings primarily in loans to fellow members. The remainder goes in U.S. securities and federally insured banks.
The National Credit Union Administration (NCUA), a U.S. Government Agency, insures your savings up to $250,000 and the funds in your IRA up to $250,000.
They have never engaged in sub-prime mortgage lending.
They adhere to sound financial underwriting practices.
They provide members with professional guidance, which matches them with the right loan product option.
They are regularly audited by PricewaterhouseCoopers LLP, an independent auditing firm.
In order to manage risk first you have to know what risk management is.
Risk management is the identification, analysis, assessment, control, and avoidance, minimization, or elimination of unacceptable risks. An organization may use risk assumption, risk avoidance, risk retention, risk transfer, or any other strategy in proper management of future events.
Navy Federal Julie Griffin, VP, eservices Division at Navy Federal, explains why they chose Infor. "The system is flexible and can be customized, which allows us to change weights as our priorities shift. It's also product-and channel-neutral, and we can apply it to outbound and inbound marketing efforts, making our efforts smarter, more integrated, and better synchronized. It uses information from every interaction to create a profile that helps us with future offerings. Agents instantly use inbound marketing information for outbound marketing. It reinforces the 'trusted advisor' role, which is our priority.“
Navy federal embark on a new phrase "Above and Beyond“ cross-servicing program that blended technology and training to help contact-center agents raise member awareness of Navy Federal offerings. The chosen technology was Infor™ Epiphany Interaction Advisor, an enterprise-wide system to help agents better understand members and be more proactive in suggesting relevant offerings.
Annie Sebastian, manager, member growth strategy at Navy Federal, adds, Interaction Advisor gives us a comprehensive view of trends and interaction effectiveness from every member experience across all our channels.
Offering more jobs in Pensacola Florida
Introducing better technology
Always looking for better ways to monitor their agents
Navy federal has different programs that they use to monitor their employees while also having programs that allow the agents to be able to better assist their members. The name of the program that is a key factor for navy federal is a program called Noble.
Social Sites has become a huge asset to several companies.
Facebook, Twitter, Myspace and LinkedIn just to mention a few.
Navy Federal on Facebook this year is the world’s largest, with over 4 million members. It grew from 22,000 Likes in January 2012 to 770,000 Likes in July of this year and ranked number one in finance with 191,000 new fans added. Perhaps more important was its high score in Average Daily Reach (ADR) which soared from 4,692 last June to 896,782 this year. It was enough to get the credit union written up as a Facebook case study.
The social media effort, including paid campaigns on Facebook brought in millions of new deposits and 60,000 new members in well developed drives that leveraged the membership nature of a credit union. To mark passing the four million member mark, the credit union offered low rates and created an app for members to upload videos that told their stories, or photos of cars, dogs and cats. The credit union said its Facebook advertising led to 6,000 new certificates, totaling $90 million and 5,400 auto refinance loans for $96 million.
Paid Leave
Health Plans
Retirement Plans
Work/Life Programs
Professional Development
Rewards and Recognition
Employee Assistance Program
Social and recreational activities
Discount entertainment tickets on amusement parks, movies and local events
Classes, seminars and webinars
Business casual dress policy
Drug- and smoke-free work environment
Full-service cafeteria at our large campuses
Reimbursement for most child adoption expenses up to $5,000
Employees at all levels of the organization have the opportunity to attend employer-sponsored workshops. Our curriculum includes:
Workshops covering the following topics:
Leadership
Interpersonal communication skills
Emotional intelligence
Workplace creativity
Supervisory skills
Graduate level instruction and executive skill development for those at the supervisor/manager level and above
Navy Federal is a fortune 100 company to work for
Started with only 7 members
Fastest growing Credited Union
Over 55 billion in assets
Over 4 million members
Over 40 billion in member savings
I hope you guys enjoyed my PowerPoint and be able to walk away know something that you may have not knew before about Navy Federal.
