USO and Navy Federal representatives, including Navy Federal President/CEO Dietrich Kuhlmann (third from left), USO President/CEO J.D. Crouch (center) and Navy Federal COO Kara Cardona (third from right), attend a ribbon-cutting on Sept. 12 for the USO's newest ship-based Center aboard the USS Truman, which is currently docked in Norfolk, Va. (Credit/Navy Federal)
Navy Federal Credit Union further demonstrated its commitment to supporting servicemembers and their families Monday by announcing a significant charitable donation – $9 million over three years to the USO, a nonprofit dedicated to the well-being of people serving in the U.S. military and their families.
The support provided by the nation's largest credit union will help the USO implement existing programming and establish new, signature initiatives – specifically, comprehensive financial wellness education and resources in support of early-career servicemembers and their spouses, according to the $177.6 billion, Vienna, Va.-based Navy Federal. The partnership will also enable the USO to advance its ongoing programs designed to alleviate financial stressors, empowering servicemembers and their spouses to feel more in control of their futures and worry less about their financial well-being, Navy Federal said.
"Combining the strengths and shared commitments of our two institutions, Navy Federal Credit Union is thrilled to partner with the USO in such a tangible, meaningful way, both to amplify the USO's current work and to ensure active duty families have access to the financial education critical to their long-term success and stability," Navy Federal President/CEO Dietrich Kuhlmann stated. "Together, I know our organizations will be a stronger, more effective force for our nation's military community in every corner of the world."
USO President/CEO J.D. Crouch added, "I am incredibly excited about this new partnership with Navy Federal Credit Union and their commitment to supporting those who serve. We look forward to collaborating closely with Navy Federal on these initiatives. Together, we will work to drive meaningful impact that strengthens the overall well-being of servicemembers and their families, which is the heart of the USO mission."
Navy Federal emphasized the importance of financial wellness efforts for servicemembers by noting The National Foundation for Credit Counseling's most recent Financial Literacy and Preparedness Survey from May 2024 found military households are "more likely to report financial difficulties" than their civilian counterparts. Specifically, the report found military families are disproportionately forced to use savings to cover daily expenses, while they miss credit card payments and transfer debt between cards at a higher rate than the general population.
The USO launched in 1941 and operates over 250 centers worldwide.
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Natasha Chilingerian
Natasha Chilingerian has been immersed in the credit union industry for over a decade. She first joined CU Times in 2011 as a freelance writer, and following a two-year hiatus from 2013-2015, during which time she served as a communications specialist for Xceed Financial Credit Union (now Kinecta Federal Credit Union), she re-joined the CU Times team full-time as managing editor. She was promoted to executive editor in 2019. In the earlier days of her career, Chilingerian focused on news and lifestyle journalism, serving as a writer and editor for numerous regional publications in Oregon, Louisiana, South Carolina and the San Francisco Bay Area. In addition, she holds experience in marketing copywriting for companies in the finance and technology space. At CU Times, she covers People and Community news, cybersecurity, fintech partnerships, marketing, workplace culture, leadership, DEI, branch strategies, digital banking and more. She currently works remotely and splits her time between Southern California and Portland, Ore.
