Message from the President of Navy Federal Credit Union

Created Tuesday, 03 February 2009 14:18

A Message from the President of Navy Federal Credit Union

02/03/2009

We are entering an era of renewed emphasis on personal responsibility. As a nation, we are being urged to return to those bedrock values – hard work, fair play, loyalty and patriotism – that have made our country great. At Navy Federal, we honor those values and applaud this focus on personal responsibility.

As your credit union, it’s our responsibility to serve you well with loans, savings and services to help you achieve your financial goals. That’s our commitment to you, our members. And, as a member-owned organization, we depend on fulfilling our shared obligations to each other, our fellow members. We are all connected: when one member pays his mortgage regularly, another is able to get a loan for her child’s education, and yet another gets a great rate on a certificate of deposit. This connection, this cooperative spirit, has been the fundamental basis for our success for the past 75 years.

Now, amid a challenging economy, the commitment to honor debts and obligations has never been more important. Yet, the daily news is often filled with stories of people casually walking away from their debts – and that this behavior might somehow be condoned. Such behavior surely does not belong in any era of personal responsibility, old or new.

At Navy Federal, we expect our members to fulfill their obligations to fellow members by repaying their loans and managing their finances prudently. We understand that this isn’t always easy, but we are here to work with members who may be having trouble. We do this in support of the collective interests of all 3.2 million Navy Federal members. We are all connected.

I embrace this reemphasis of personal responsibility. As Navy Federal’s President, I am deeply committed to our strong, conservative financial practices; they serve us well. As your credit union, we are also committed to making billions of dollars available for new mortgages, automobiles, and education loans. And, to providing outstanding return on savings.

In this spirit, let us all reaffirm our commitment to our fundamental values, to our fellow members, to the continued strength Navy Federal, and the success of our great nation.

Cutler Dawson
President/CEO

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