2009
NGFCU continued to provide members with extraordinary benefits in an economic environment that caused many other financial service organizations to struggle. Because of its strong capital position and conservative lending policies, NGFCU demonstrated it was better prepared to deal with the turmoil in the financial sector than most other institutions. In fact, during these difficult times, NGFCU was able to offer among the most competitive savings rates and low interest loan rates anywhere in the financial services industry. This accounts for the nearly 13% growth in assets, 21% growth in savings and 9% growth in loans. Even during these difficult economic conditions, NGFCU deployed significant resources to offer more service across a broader area of the Northrop Grumman Corporation landscape and for Los Angeles Metro employees including several new state-of-the-art deposit accepting ATMs. In the fall of 2009, a new free-standing branch was opened nearer the NGC Site 4 location in Palmdale, California.