X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

VIRGINIA BEACH, Va.-NCUA recently approved the $34 million Naval Mid-Atlantic Federal Credit Union’s adoption of the underserved areas of Norfolk and Virginia Beach. “We are looking forward to introducing residents of Norfolk and Virginia Beach to the reliable, family-oriented financial services we have offered our military core members for the past 50 years,” NMAfcu President Bill Merritt said. The credit union is headquartered in Virginia Beach and has a second branch located on Naval Base Norfolk. According to NMAFCU Marketing Manager Joann Buckley, the credit union is scoping out locations for a new branch to serve the area and will be looking into ATMs as well. NMAFCU offers overdraft protection, which can be used like a payday lender, she said, in addition to allowing $5 minimum deposits, making loans down to `D’ paper, member business loans, indirect lending, kids’ and retirement programs, and others. “Our core sponsor was the Navy Public Works Center, but it is shrinking and has been renamed and reorganized,” Buckley explained as the reason behind the expansion to the approximately 100,000 residents of the underserved area.

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

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

  • Critical CUTimes.com 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 Law.com and GlobeSt.com.

Already have an account?

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 TreasuryandRisk.com and Law.com.

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

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.