Mortgage Business Strong at Navy Federal

VIENNA, Va., Aug. 13 /PRNewswire-USNewswire/ -- Historic low rates are resulting in record mortgage applications at Navy Federal Credit Union.

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"We expect to close a billion dollars between July and August," said Joan Cox, Navy Federal's senior vice president, Mortgage Lending. "As can be expected, the majority of our members are opting for either a 30-year fixed loan or a VA loan."

In addition to low rates, the credit union offers a wide array of mortgage products including those that feature 100 percent financing.

About Navy Federal Credit Union

Navy Federal Credit Union is the world's largest credit union with over $42 billion in assets, 3.4 million members, 183 branch offices, and more than 7,200 employees worldwide. The credit union serves all Department of Defense military and civilian personnel and the families. For additional information about Navy Federal, visit navyfederal.org.

SOURCE Navy Federal Credit Union