Mary McDuffie’s Message to Members

It’s summer, and many of us are looking forward to much-anticipated vacation breaks.

COVID-19 levels are the lowest they’ve been since March 2020, and recently both the economy’s performance and the forecasts have been optimistic. We’re closely watching the services economy reboot. This is the biggest piece of the economy (45%) and is key to helping solve unemployment for the 7 million+ Americans who worked in industries such as leisure and hospitality.

There’s more positive news: household budgets are looking strong as many saved and paid down debt during the pandemic. Teachers and childcare workers are coming back so millions of parents can return to their jobs. Lumber deliveries are speeding up and prices are falling, so more homes can be built and home prices perhaps won’t rise as quickly. And, while we are watching some bottlenecks in the economy, none appear to be big roadblocks to a strong recovery in the remainder of 2021 and into 2022.

Carrying on with good news: to all midshipmen and cadets who are now officers, congratulations on your recent graduation! Your commitment to our country and your fellow servicemembers is deeply appreciated. We’re extremely proud of your accomplishments and are here to support you throughout your career.

Navy Federal continues to grow, and we continue to focus on our service to you. It’s what fulfills us. We’re honored to share that our Navy Federal family was recently named a customer experience elite brand by Forrester Research and ranked No. 1 among multichannel banks and credit unions for our service. Your support and feedback drives our continual improvement. It is truly what makes the difference.

We also recently wrapped up our #MissionMilitaryThanks campaign in celebration of Military Appreciation Month. Our members shared photos of themselves and their years of service, totaling 14,323 years! We donated $5 for every year of service shared to Operation Homefront, our partner throughout the month. Thank you for telling your stories and helping us exceed our $50,000 donation goal in support of veterans and their families.

Life as we knew it before the pandemic hasn’t completely returned, but there are definitely good signs now and good things on the horizon. So, whether you’re preparing for a summer vacation or a home renovation, we’re here to help you get your finances in order for whatever may come. And no matter what, we hope you have a wonderful summer.

Sincerely,

Mary McDuffie
President/CEO
Navy Federal Credit Union

Our Members Are the Mission®