USA Federal Credit Union
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| Credit union | |
| Industry | Financial services |
| Successor | Navy Federal Credit Union |
| Founded | 1953 |
| Headquarters | San Diego, California, United States |
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Area served
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Department of Defense personnel and their families |
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Key people
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Mary Cunningham, President/CEO William Fox, Chairman |
| Products | Savings; checking; consumer loans; mortgages; credit cards; investments |
| Website | usafed.org |
United Services of America Federal Credit Union (often referred to as USA Federal Credit Union or USA Fed) was a credit union headquartered in San Diego, California, chartered and regulated under the authority of the National Credit Union Administration (NCUA) of the U.S. federal government.
As of April 2009, USA Federal Credit Union had over $600 million USD in assets, and over 61,000 members.
USA Fed was one of 19 credit unions based in San Diego, California
USA Federal Credit Union began in November 1953 with ten members as N.T.C. San Diego Employees Federal Credit Union. The employee-organized federal credit union was initially formed to serve the civilian employees of the Naval Training Center San Diego. In 1955, all military personnel working at N.T.C. were added to the field of membership. As the credit union grew, the field of membership expanded internationally allowing for USA Fed's presence in the Pacific Rim.
From 2004 until 2007, the credit union marketed itself as USA Federal, unveiling a unified brand image across printed collateral materials and their online presence.
In 2008, the credit union began promoting the use of the shortened name USA Fed. On March 26, 2010, USA Fed announced to members that their official web site address would be changing to usafed.org.
On September 22, 2010, USA Fed announced plans to merge with Navy Federal Credit Union, stating that joint operations would begin October 4, 2010 under the Navy Federal banner.
USA Fed's field of membership was set by the NCUA. As with all credit unions, membership in USA Federal is limited to individuals sharing the common bond defined in its credit union charter. Membership in USA Fed is limited to:
USA Fed was chartered with NCUA. Like all credit unions, USA Fed was governed by a board of volunteers, elected by and from its membership.
USA Fed offered the typical suite of account services offered by most financial institutions, including savings accounts, checking accounts, IRA accounts, and certificates. The savings product is named "Share Savings" to reflect the fact that a member's initial savings deposit ($5) literally represents their share of ownership in the credit union. USA Fed also offers members consumer loans, credit cards, mortgages and home equity lines of credit, as well as some small business services. USA Fed's Credit Union Service Organization (CUSO), CUSO Financial Services, L.P. (CFS), offers more extensive investment services, online brokerage services, and insurance.
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