Navy Federal Credit Union branch.
Credit/Shutterstock
The Independent Community Bankers of America in Washington, D.C. blasted Navy Federal Credit Union's announcement on Tuesday for cobranding the overseas military banking program, claiming it will conflate a bank with a credit union and create confusion among servicemembers.
Last September, the Department of Defense (DoD) awarded Navy Federal a contract to manage the Overseas Military Banking Program (OMBP), known as "Community Bank." The program was previously operated by Bank of America. The credit union announced on Tuesday that the overseas Military Banking Facilities (MBFs) have been co-branded as "Community Bank, Operated by Navy Federal Credit Union."
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
