Navy Federal Credit Union

Navy Federal Credit Union

2018 ANNUAL REPORT

NAVY FEDERAL CREDIT UNION

Vision Statement

Be the most preferred and trusted financial institution serving the military and their families.

2018 ANNUAL REPORT

Financial Summary

As of December 31

(dollars in millions)

Assets Loans Outstanding Savings, Checking, MMSAs, IRAs Share Certificates Members' Equity Gross Income Non-Interest Expense Dividends Mortgage Loans Serviced

2017

$ 90,565.8

$ 67,287.2

$ 45,842.8

$ 17,164.0

$ 10,230.6

$ 6,025.5

$ 2,639.5

$

497.9

$ 60,593.9

2018

$ 96,962.4 $ 75,059.2 $ 50,626.6 $ 19,790.9 $ 11,404.7 $ 6,875.3 $ 2,900.8 $ 642.6 $ 68,697.7

2017 7,542,010

Members 2018

8,232,022

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NAVY FEDERAL CREDIT UNION

Report of the Chairman and President

In 2018, we had another successful year of growth and celebrated two milestones: the addition of our 8 millionth member and the marking of our 85th anniversary. And, we honored the past 14 years of leadership excellence as we bid a fond farewell to outgoing president Cutler Dawson. In January of 2019, we welcomed Mary McDuffie as the new president. Moving forward, we'll continue to put an emphasis on a great member experience and find ways to improve our service--making things simple and easy to use. Last year, we accomplished that goal by offering members more choices, greater convenience and richer rewards. We expanded our network, improved our products and services, added popular new self-service and security features, and kept our loan and savings rates among the best. Members responded enthusiastically, borrowing more than $75 billion. Total deposits reached a record $70.4 billion, an increase of $7.4 billion or nearly 12 percent over 2017. We also surpassed 8 million members, adding 1.2 million new members in 2018, more than 200,000 of whom were veterans and their families. And, our total assets increased $6.4 billion to $97.0 billion.

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2018 ANNUAL REPORT

For more than 85 years, our single-minded focus has been on service. Last year, we underscored our dedication to this guiding principle with the introduction of our new theme, "Our Members Are the Mission," because our Active Duty, retired military and all veteran members and their families always have, and always will, come first.

$70.4 $63.0

$75.1 $67.3

$97.0 $90.6

2017 2018

Deposits

(dollars in billions)

2017 2018

Loans

(dollars in billions)

2017 2018

Assets

(dollars in billions)

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