US Navy Names Navy Federal Branch “Credit Union of the Year”

Barchart · 10/17 13:48

The Department of the Navy has selected Navy Federal’s branch aboard Marine Corps Air Station in Iwakuni, Japan as its “Credit Union of the Year” for 2023. This marks the 18th consecutive year and 21st year overall that the Department of the Navy has recognized a Navy Federal branch for its service to a base community.

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NFCU Leaders and Iwakuni Branch team members receiving

NFCU Leaders and Iwakuni Branch team members receiving "Credit Union of the Year" award. (Photo: Business Wire)

The Iwakuni Branch is located on the only Marine Corps installation on mainland Japan with more than 10,000 American citizens stationed.

“As the largest credit union in the world, serving US citizens aboard Marine Corps Air Station Iwakuni, it’s our duty to serve the military community while they are serving our country, just as we serve stateside,” said Maria White-Marchus, assistant vice president of branch operations. “It’s our mission to continue helping our members reach their financial goals for many years to come.”

Colonel Richard M. Rusnok, Jr., Commanding Officer of Marine Corps Air Station Iwakuni, Japan, submitted the award. In the nomination package, Colonel Rusnok boasted about the branch’s ability to “continue providing the world-class service their members have come to expect, coupled with the customized individual experience of a small neighborhood credit union.”

Some of the resources provided by the Iwakuni Branch include:

  • Financial education services, focused on helping members understand debt, budgeting and credit health.
  • Providing outreach to military and family support groups, recruit programs and base events.
  • Offering promotional share certificates at various terms throughout the year to motivate members to save.

In 2023, the Iwakuni Branch processed nearly $13,600 in cash transactions and over 22,000 account servicing transactions. They also assisted with 612 instant-issue debit cards.

“It’s an honor to receive this award year after year. It speaks true to our core values,” said Captain Keith Hoskins (USN Retired), executive vice president of branch operations at Navy Federal. “Our members are the mission, and this award shows the incredible level of commitment and service to help our members achieve financial wellness.”

Navy Federal Credit Union: Established in 1933 with only seven members, Navy Federal now has the distinct honor of serving 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 24,000 and has a global network of more than 360 branches. For more information about Navy Federal Credit Union, visit navyfederal.org. Navy Federal is federally insured by NCUA. Equal Opportunity Employer.