Due to some issues with the NCUA Q4 quarterly data for Navy Federal Credit Union, several of the data points used to calculate their health score were incorrect, causing their score to be much lower than it should have been. Of course, many of you noted the issue and reported it to us, for which we are grateful. After working closely with Navy Fed's representatives, we have updated the incorrect data and recalculated their health score, which is now an A.
Our health scores are calculated through an automated process using the data contained in the FDIC and NCUA quarterly reports. When an error is identified, our team works hard to make the updates as quickly as we can. We appreciate your patience in these circumstances as it can take some time for us to identify the incorrect data and then work with the financial institution to get the correct information needed to make the necessary updates.
