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Navy Fed Focusing on Avoiding Future Corporate Losses

Navy Federal Credit Union didn't express much interest in viewing U.S. Central or WesCorp investment summaries, which the NCUA has made available to federally-insured credit unions.

By Heather Anderson | Updated on July 13, 2009

The $40 billion Navy Federal Credit Union, which shelled out more than $217 million in corporate stabilization expenses as of March 31, didn’t express much interest in viewing U.S. Central or WesCorp investment summaries, which the NCUA has made available to federally-insured credit unions.

“We could spend a lot of time rehashing history, but what we really need to focus on is how we can minimize this risk in the future,” said Dennis Godfrey, chief officer of innovation at the nation’s largest credit union.

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