VIENNA, Va. (December 7, 2023) – Navy Federal Credit Union announced today it received a high score in the J.D. Power 2023 U.S. Consumer Financing Satisfaction StudySM. The U.S. Consumer Financing Satisfaction Study measures overall auto financing customer satisfaction in five factors: account management and communication; application/approval process; billing and payment process; customer orientation process; and customer service experience.
“Member experience is a top priority for us at Navy Federal and we’re dedicated to being a righthand partner for our members,” said Joe Pendergast, vice president of consumer lending at Navy Federal. “We not only continuously improve our application process to make it as fast and seamless as possible for members, but we also provide online tools and resources to help them navigate every step of their car-buying journey.”
The credit union’s overall satisfaction score was 917 on a 1,000-point scale, scoring highest among non-ranked mass market lenders.* This is a 9-point increase from last year, showing Navy Federal’s commitment to continually improve the member experience.
In addition, Navy Federal ranks No. 1 as the industry leader among multichannel banks/credit unions for customer experience in Forrester’s proprietary 2023 CX Index™ survey. The credit union was named one of the best auto lenders (best for new car purchases) by Bankrate in 2023.
*Navy Federal Credit Union is not eligible for a ranking because it does not meet the study award criteria.
About Navy Federal Credit Union: Established in 1933 with only 7 members, Navy Federal now has the distinct honor of serving 13 million members globally and is the world’s largest credit union. As a member-owned and not-for-profit organization, Navy Federal always puts the financial needs of its members first. Membership is open to all Department of Defense and Coast Guard Active Duty, Veterans, civilian and contractor personnel, and their families. Dedicated to its mission of service, Navy Federal employs a workforce of 24,000 and has a global network of more than 350 branches. For more information about Navy Federal Credit Union, visit navyfederal.org. Federally insured by NCUA. Equal Opportunity Employer.