About Navy Federal
Why we started
Navy Federal opened in 2011 on a straightforward premise: most people don’t want more banking, they want less of it. Fewer fees to track, fewer forms to sign, fewer calls that end with being transferred.
We built the accounts around that. Everyday banking with no monthly fee, savings that pay a rate worth having, lending priced on what you can actually afford — and an app that does the work rather than asking you to.
Today we look after money for more than a million customers and thousands of businesses, and the premise hasn’t changed.
1.2m
customers banking with us
24/7
support, every day of the year
$0
monthly fee on everyday accounts
2011
the year we opened
What we stand for
Fees you can predict
We'd rather earn from lending than from catching people out. No monthly fees on everyday accounts, and no charges that only appear once you've breached something.
Security by default
Multi-factor authentication, encryption and round-the-clock fraud monitoring are switched on from the start, not buried three levels into a settings menu.
People who answer
Real support staff, reachable at any hour, with the authority to actually resolve things rather than pass you along.
Plain terms
Rates, limits and conditions written to be understood. If a product needs a footnote to sound good, it needs a redesign instead.
Am I eligible to open an account?
Membership is open to individuals and businesses alike. If you can verify your identity and address, you can bank with us — most applications are approved the same day.
- Individuals aged 18 and over with proof of identity and address
- Sole traders and freelancers, using personal identification
- Registered companies, partnerships and limited liability partnerships
- Family members of existing customers, including youth accounts from age 14
How we’re regulated
Navy Federal is authorized and regulated by the Office of the Comptroller of the Currency under registration number 7693932939. Deposits are insured by the Federal Deposit Insurance Corporation up to $250,000 per depositor, per insured bank, for each account ownership category.
Our registered office is 1200 Market Street, Suite 400, Philadelphia, PA 19107. Full details of our licenses, permissions and the complaints process are published on our licenses and compliance pages.
Want to work with us? See open roles.