VIENNA, Va.-Staffers from the Federal Reserve’s Division of Consumer and Community Affairs took a tour of Navy Federal Credit Union’s facilities and met with credit union officials Jan. 16. The meeting aimed to get the two groups acquainted and highlight the largest credit union’s operations and corporate philosophy. Navy Federal also discussed federal regulations of interest, including Reg B and related proposed `clear and conspicuous’ disclosure standards. The credit union also praised the Fed’s Check 21 implementation efforts and interest in bounce protection. Navy Federal Credit Union CEO Brian McDonnell and members of the executive management team met with Federal Reserve Deputy Director of Consumer and Community Affairs Glenn Loney and other Fed staffers. Officials from NAFCU, including General Counsel Bill Donovan were present. McDonnell said the meeting and the tour of the world’s largest credit union provided the Fed “a better understanding of who we are and what we stand for.” Navy Federal is headquartered in Vienna, Va. and has more than $20 billion in assets and 2.3 million members. It serves the military and civilian personnel of the Navy, contractors that provide service on a regular basis and their families through over 100 branches and 280 ATMs.

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

Your access to unlimited content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including and

Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.