Navy federal credit union address

Business Editors

ONTARIO, Calif.--(BUSINESS WIRE)--Feb. 20, 2003

Navy Federal Credit Union, the largest credit union in the world, has joined CO-OP Network, the largest credit union ATM network in the country.

"CO-OP Network's recent growth makes it a good fit for our corporate strategy of providing expanded ATM access to our mobile membership around the world," said Brian McDonnell, President and CEO of Navy Federal. "CO-OP Network has 16,000 surcharge-free ATMs across North America that will supply ample ATM convenience for our 1.25 million cardholders.

"Also, CO-OP Network is the only major EFT (electronic funds transfer) network owned and controlled by credit unions. The combination of CO-OP Network credit union focus and unmatched surcharge-free ATM access is the reason Navy Federal joined the Network."

When Navy Federal becomes fully operational in the Network during the second quarter of 2003, CO-OP Network will be the official home for 28 of the top 50 credit unions in the country.

"We're thrilled to welcome one of the most respected credit unions in the world to the CO-OP Network family," said CO-OP Network CEO Robert Rose. "While CO-OP Network serves credit unions of all sizes and types, an interesting trend has arisen in recent years -- organizations with worldwide fields of membership, such as Navy Federal, are increasingly looking to CO-OP Network. We have more ATM locations than the largest bank in the U.S., and we can address the needs of organizations with members spread across the map."

In addition to Vienna, Virginia-based Navy Federal, CO-OP Network membership includes five of the six largest credit unions serving U.S. military personnel.

CO-OP Network (www.co-opnetwork.org), established in 1981 and located in Ontario, Calif., is wholly-owned by its credit union shareholders and provides volume discounts on products and services that include risk management as well as debit and deposit access. With 1,165 credit union members, 16,000 surcharge-free ATMs and 12 million cardholders, CO-OP Network is the No. 1 credit union ATM network in the U.S. financial services industry. CO-OP Network also offers national shared branch services through its subsidiary, Service Centers Corporation, based in Southfield, Mich.

Navy Federal is the world's largest credit union with more than 2 million members and $17 billion in assets. The credit union operates 96 branch offices and 262 proprietary ATMs worldwide. Navy Federal serves mostly military and civilian personnel of the Navy and Marine Corps and their families. For additional information about Navy Federal, visit www.navyfcu.org.