Navy Federal Experiences Significant Banking Problems for Members
Navy Federal Credit Union experiences, what appears to be, severe banking problems for members on Thursday.
Navy Federal Credit Union had been experiencing banking problems since early Thursday morning.
According to a statement from Navy Federal on its Twitter page said, “We’re experiencing a delay with account deposits today, and we’re working through a solution. Currently members are unable to call in to speak with represenatitives. Online and mobile banking are available.”
Navy Federal Credit Union, Vienna, Va. is the nation’s largest credit union with $95.3 billion in assets and 8.1 million members as of Sept. 30.
CU Times reached out to officials at Navy Federal and an unnammed person who answered stated that “we are currently working on the situation.” And no other details were provided.
Most recently, Navy Federal posted again on Twitter the following message:
“IMPORTANT UPDATE: At this time, all deposits are back to normal. To see your latest account details, use online and mobile banking. For account-specific questions, you can now call a member representative. We apologize for any inconvience.”
Throughout the morning, members had been posting their reactions on Twitter and Facebook. One member @racheletti posted, “….and now all pending deposits from yesterday 12/19 are gone…no word when the money will be back in and NO security that it won’t happen to tomorrow’s deposits.”
CU Times is collecting social media posts concerning this story and we expect to have a full statement from Navy Federal later today. As of the last update from Navy Federal which stated that deposits are back to normal; people continue to post that their money is still missing.
Although based just outside Washington, D.C., Navy Federal has members across the country and overseas. As of Sept. 30, NCUA data shows it had 324 branches in 32 states and territories: Alabama (2), Arizona (7), California (43), Colorado (4), Connecticut (3), District of Columbia (3), Florida (29), Georgia (17), Guam (1), Hawaii (4), Illinois (4), Kansas (3), Kentucky (3), Louisiana (2), Maryland (25), Mississippi (4), Missouri (1), Nebraska (1), Nevada (5), New Jersey (2), New Mexico (1), New York (4), North Carolina (12), Ohio (1), Oklahoma (2), Pennsylvania (2), Rhode Island (1), South Carolina (8), Tennessee (3), Texas (28), Virginia (62) and Washington (11).
As we learn more about the situation and the cause, we will update this developing story.