Navy Federal Unveils New Enhancements, Shifting the Future of Banking Today

New innovative features to checking accounts to provide an all-in-one banking experience

VIENNA, Va.--(BUSINESS WIRE)--Navy Federal Credit Union, a trusted financial partner for military members and their families, reveals checking account enhancements to make managing finances simpler and more convenient.

The suite of checking accounts comes with features to equip members with a personalized banking experience to support their financial journey and spending. Key elements include:

• the opportunity to build or improve your credit history with Bloom+, from Bloom Credit, a modern cash flow reporting and credit data infrastructure platform
• free credit score monitoring and goal setting tools with Mission: Credit Confidence^® Dashboard
• My MakingCents, a free money management tool that can track spending, help create a budget, monitor credit scores and view all accounts and investments (even those at other banks)
• the ability to easily set up direct deposit
• sending money fast with Zelle^®
• no Non-Sufficient Funds (NSF) fees and checking protection options
• fraud protection with 24/7 support

To complement the upgraded checking account features, Navy Federal’s full service mobile banking app continues to provide cutting-edge technology and unmatched user experience to deliver an all-in-one banking experience for smarter banking.

“Navy Federal continues to understand and adapt to the unique financial challenges members are facing, especially when it comes to managing their finances on the go,” said Pete Amstutz, senior vice president of savings and membership. “These new features demonstrate our commitment to delivering flexible and reliable banking solutions that meet the evolving needs of our members, no matter where they are in the world.”

As a credit union dedicated to serving those who serve, Navy Federal remains committed to providing innovative financial products and services that encourage financial success throughout all life’s milestones.

One key feature available to members is the Bloom+ service, which facilitates the seamless reporting of non-traditional payments to a major credit bureau, such as utilities and rent, made within a Navy Federal checking account, allowing these payments to factor into their credit score.

"We are looking forward to partnering with Navy Federal to give members a simple, convenient and expanded option for building credit history," said Christian Widhalm, CEO of Bloom Credit. "We appreciate that Navy Federal is thinking ahead of the curve and modernizing how to help its members better demonstrate creditworthiness and gain more affordable access to credit, simply by leveraging their everyday bill payment history."

Whether you have little or no credit, have poor credit or just want to increase your score, Navy Federal is embarking on a new path to support our members by enabling them to use certain payment histories to their advantage.

“The Bloom+ tool provides our members with a powerful way to impact their finances and build credit history, via online and mobile banking,” said Jaspreet Chawla, senior vice president of savings. “Our members have the opportunity to easily report their payment history to credit bureaus, giving them a valuable tool to enhance their financial well-being.”

Members are encouraged to visit navyfederal.org/checking, visit a local branch or call Navy Federal’s 24/7 support team to learn more about the checking options, offers and features.

About Navy Federal Credit Union: Established in 1933 with only 7 members, Navy Federal now has the distinct honor of serving more than 14 million members globally and is the world’s largest credit union. As a member-owned and not-for-profit organization, Navy Federal always puts the financial needs of its members first. Membership is open to all Department of Defense and Coast Guard Active Duty, Veterans, civilian and contractor personnel, and their immediate family. Dedicated to its mission of service, Navy Federal employs a workforce of 24,000 and has a global network of more than 365 branches. For more information about Navy Federal Credit Union, visit navyfederal.org. Federally insured by NCUA. Equal Opportunity Employer. Zelle^® and the Zelle^®-related marks are wholly owned by Early Warning Services, LLC and are used herein under license.