Navy Federal Guarantees $7 Billion for Mortgages in 2010

Now Offering 100% Financing Nationwide

VIENNA, Va., March 5 /PRNewswire-USNewswire/ -- Navy Federal Credit Union is pleased to announce $7 billion has been committed to new mortgages for Navy Federal members in 2010, whether they're buying a new home or refinancing. This new commitment follows 2009 mortgage originations of over $6.2 billion, the highest year for new mortgages in Navy Federal's history. Additionally, in light of opportunities in the current market, Navy Federal announces 100 percent financing up to $650,000 nationwide.

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"Our members' financial success is our top priority at Navy Federal," said Cutler Dawson, President/CEO. "The state of the national economy will continue to have an impact on our shared success. Navy Federal has contributed to the recovery in 2009 by extending more than $31.4 billion in credit, more than any other credit union, and is committed to providing even more credit to members in 2010." Dawson added, "We continue to see members doing more and more business with us as a result of our great rates, low fees, lifetime servicing of loans and 100 percent financing available for new mortgage purchases."

Navy Federal has been serving the men, women and families of the military for over 76 years. The credit union's foundation is built on conservative financial policies and diligent risk management. Dawson added, "At Navy Federal, we take great pride in serving the financial needs of our military community and their families who serve this great country with integrity and honor. In these challenging times, we strongly believe that our members deserve a financial partner that continues to look out for their best financial interests, and we work hard every day to operate with the highest integrity."

About Navy Federal Credit Union

Navy Federal Credit Union is the world's largest credit union with $40 billion in assets, 3.4 million members, 180 branch offices, and more than 7,100 employees worldwide. The credit union serves all Department of Defense military and civilian personnel and their families. For additional information about Navy Federal, visit navyfederal.org.

SOURCE Navy Federal Credit Union