Navy Federal Credit Union, the world's largest credit union, and Visa Inc. today announced they have signed a multi-year agreement to renew and extend their longstanding relationship. Under the terms of the agreement, Navy Federal will continue to offer Visa-branded consumer credit and debit products to its 3.1 million members worldwide. In addition, Navy Federal will expand its Visa prepaid and small business product offerings.
"As part of our mission to be the preferred financial services provider for our members, it is important to provide a range of financial services and tools that can meet the changing needs of our members over their lifetime," said Cutler Dawson, President/CEO of Navy Federal. "With Visa's suite of payment products from debit and prepaid to credit and small business, we can provide flexible solutions for our members that can grow with their needs."
"We are delighted by Navy Federal's decision to extend its relationship with Visa and the trust they continue to place in us as we seek to grow Navy Federal's business and strengthen their member relationships," said Bill Sheedy, President, North America, Visa Inc. "Navy Federal is a valuable partner as we work to further extend the convenience and security of electronic payments over cash and checks."