Hello Mary and all Employees of Navy Federal Credit Union, My name is Katie Swank.  I am the wife of a US Marine Veteran.

We have banked with Navy Federal for the last 20 years, and we have been very happy with your company’s services. However, recent changes to the policies – specifically when it comes to releasing money from checks has made financial decisions in our home very uncomfortable.

My husband is a Powerlineman, working for Par West.  Our first paycheck was distributed to him in the form of cashier’s checks – 2 to be exact, and in the total of $1700.  This is a small, insignificant petty amount – especially to CEOs of International Banking Institutions, who work hard and earn handsome salaries, I understand.  For people like my husband and I, it was everything we had.  We needed groceries and we were unable to purchase them because money had to clear the bank over the weekend.  We were forced to wait 48 business hours before we could utilize the hard earned funds paid for my husband’s hard work.  We had to use a credit card to feed our two children.

This is unacceptable. 

Checks $225 and Over The first $225 per Business Day of the total amount of checks deposited in the branch will be made available on or before the first Business Day after the day we are considered to have received your deposit. The remaining funds will be available on the second Business Day after the day we are considered to have received your deposit. For example, if you deposit a check of $1,000 on a Monday, $225 of the deposit is available on or before Tuesday. The remaining $775 is available on or before Wednesday.  https://www.navyfederal.org/content/dam/nfculibs/pdfs/membership/nfcu-668.pdf

Navy Federal has insurances on checks cashed as an institution, it is required by law to do so. Any checks that are cashed with insufficient funds from the institution is reimbursed with fees and penalty charges, so not only are you making us wait to see if the money is there, and cashing out if it’s not….you are also making us suffer to wait and buy groceries.  Shame on Navy Federal.  The fact that you hold our $1700 against us for 48 hours while it accrues interest to line the pockets of the INSTITUTION is unlawful.  It is not the American Way.  The Constitution states that all benefits are for the people, not institutions.  

Federally insured by NCUA. © 2021 Navy Federal NFCU 1116e (5-21)

Navy Federal’s savings, checking, Share certificates and Money Market Savings Accounts (MMSAs) are insured for up to $250,000.

Individual Accounts

Individual accounts are owned by one member. You are insured for up to $250,000 for combined balances in your Navy Federal savings, checking, Share certificates and MMSAs. 

I would love to keep banking with you.  But I am urged to close our accounts and begin banking with Constitutional Banks that have the interests of their upstanding clients in mind.  The tides are changing.  New companies are born out of the rubbish that exists today.  Americans will thrive because we still hold true to the fact that We Believe, We have Faith: IN GOD WE TRUST.  

If you would like to discuss this further, I would love to talk to you,

The information in this letter is written to provide transparency.  To inform my fellow Americans that we must stand for what is right.  To be bold.  To fight for freedom and justice and to never waiver, never fear. 

Dear Navy Federal,Thank you for reviewing my email.  I received 4 phone calls today from many different individuals within the Executive Branches at Navy Federal.  These employees were great listeners and effectively read policies that I have contention with. My husband and I spoke to policy readers, not policy changers. None of the phone calls were from you, Mary, which makes me sad, I wanted to say “hi”.  I am not intimidated by your title as CEO, it gets me excited. We have so much in common as we have both broken the preverbal glass ceiling. I pray all is well with you and you take the words I am sharing with you with love, kindness and respect. 

Navy Federal’s prompt response to my personal situation is not surprising as Navy Federal has been exceptional in our 19-20 year history of banking.  And going to the “top” as it were, is shocking when the topic is simply a $1700 check withheld.  But it’s not the petty specificities we are upset about and painfully aware of, is it?  It’s the UnConstitutional actions that are being dished out against our own Military, am I right?  My Husband – who went and fought against the terrorists who murdered thousands of innocent Americans back on 9/11.  The brave, the few.

My husband not an average citizen. My husband is a hero. He is to be respected, honored and thanked for his sacrifice. Amen!

2020 allowed many large corporations to spread the wings of Socialism and start controlling people, tiny bites at a time…How to Eat an Elephant analogy.  

In light of our experience, I contacted our Financial Advisor, to clarify if my line of thinking was “off the wall, or out of line”.  He supported my directive.  He advised us that many Financial Institutions are feeling the “burn” – Criminal Theft that is absolutely plaguing our nation.  In his words, “criminals are allowed to operate with impunity which forces the financial institutions to implement measure to protect themselves and clients.” 

I empathize with you, however, I am not a criminal.  I am not to be punished for someone else’s crime. Rob from the poor to feed the rich. It sounds a lot like Robin Hood.

My family has done nothing criminal against Navy Federal.  We are long standing clients of 19 years, and these recent restrictions on our accounts are not acceptable. If you have a voice and power, you will use it, righteously, to support our Constitution.  You will reward loyal clients and respect their right to Liberty, Justice and the Pursuit of Happiness.  You will respect our Founding Fathers, The Rock they stood for, and support freedom.

We are at Navy Federal’s mercy.  The institution abolished our right to our own money.  That money was in fact, by contract with our employer, Par West, ours. In the written form received – a cashier’s check, and according to new restrictions issued by Navy Federal, that money was not ours. Navy Federal rewrote a new contract.  My paycheck lined the pockets of investors for 48 hours, and this infuriates me.  Navy Federal had access to my money immediately – interest accrued on that money was immediate – however, my access to it was NOT.

The news continues to progressively get worse as new restrictive regulations come down the pipe.  From what I understand, the small allowance of $225 will be taken away on November 1st?  Am I correct?  I feel like this is a story of restrictive parents regulating disobedient children.

Rules, regulations, laws, they surround Americans now, at every turn! There is a brand new “no you can’t.”  I lean heavily on, as a proud American, Deregulation for the Just.

I charge Navy Federal with this.  We are clients for 19 years.  We have never done Navy Federal wrong.  We love our bank.  We submit respectfully that our bank account not be treated like we are criminal thieves.  I would like to have access to our cashier checks and also request that in the event we submit a check that is incredulous or criminal, that we receive just punishment for that.  We the People, For the People, By the People.  Our Highest Law deems it necessary that we live a life that is free from Tyrannical law.  

I reiterate, I love Navy Federal.  We need competition.  We need healthy balance.  I don’t want this bank to disappear.  I want all of us to fight back against tyrannical regulation. We need to punish the real bad guy. Regulate the criminals, not the just.  Give us our FREEDOM, or GIVE US DEATH!  

I will continue to fight for our freedoms in the large and wonderful shadow of my brave and amazing husband.  May Freedom Reign.  May God be Glorified and may America continue to be a land of opportunity.  A land where we fight against tyranny, stand firm and help our neighbors.  

Thank you for reviewing this case, Mary.  Thank you for fighting with me and not against me.  I pray that you run this company well, that you produce products that are successful, that you endeavor to prosper and share that prosperity with your clients.

In God we Trust,

Katie Swank,

Oceanside Strong