Don Free and Kristin Moyer here. In anticipation of a potential government shutdown in the United States at midnight on April 8th, Navy Federal Credit Union has taken steps to engender customer loyalty. They have announced that they will cover the April 15 payroll for those active duty members who have their direct deposit of pay at Navy Federal. Navy Federal will also expedite approvals for lines of credit, overdraft programs and credit card limits.
Although active military won’t get paid if the government goes offline on Friday, their pay is being accrued and is guaranteed by the US government. So Navy Federal is not really taking a big risk by depositing the regular pay into their customer’s accounts, but they are building mega loyalty in the process.
It’s not always technology that makes the difference – smart play.
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