Navy Federal Credit Union in Vienna, Virginia, is rebranding its broker-dealer and investment advisory business.
The unit, which had been operating as Navy Federal Brokerage Services, will now do business as Navy Federal Investment Services. The new brand reflects a broader menu of products and services, according to Diane Young, chief operating officer of Navy Federal Financial Group, the wealth management subsidiary of the $151 billion-asset Navy Federal, the largest U.S. credit union.
“The decision to rebrand … was made in part to more closely align the name of the company with the range of services and products needed by our members,” Young said in a press release Tuesday. “We are honored to continue meeting our members’ investment planning needs, and excited about this refreshing change.”
While Navy Federal’s most recent call report did not break out specific financial data from its wealth management operations, it did disclose other operating income totaling $1.1 billion generated during the first nine months of the year by credit union service organizations, including the 21-year-old Navy Federal Financial Group.
