Account holders should experience no change in service as the world’s largest credit union takes over all Department of Defense banks on overseas military bases.

Navy Federal Credit Union starting this month will operate those 60 facilities, known as Community Banks, and the 272 ATMs on installations in Europe and the Pacific, according to a Navy Federal press release April 2.

Bank of America held the contract for more than 40 years, Yahoo! Finance reported April 4.

“The Overseas Military Banking Program fits our core values at Navy Federal and is consistent with our primary mission of supporting Active Duty military members and their families,” Navy Federal’s chief operations officer, Kara Cardona, said in the release. “Serving these families through this important DoD program is directly aligned with our mission.”

Navy Federal claims 13 million members across all service branches and assets of more than $168 billion. It won the $9.4 million Overseas Military Banking Program contract, previously held by Bank of America, on Sept. 25, according to the DOD website.

Community Bank customers should expect business as usual, Navy Federal spokeswoman Amber Southard told Stars and Stripes by email Friday.

Navy Federal came under scrutiny after a CNN investigation published in December found the credit union approved mortgages for more than 75% of the white borrowers who applied for a new conventional home purchase in 2022 while approving less than 50% of Black borrowers who applied for the same type of loan. The cable news channel cited the most recent federal data available.

In January, 10 U.S. senators wrote Secretary Marcia Fudge of Department of Housing & Urban Development and director Rohit Chopra of the Consumer Financial Protection Bureau asking them to “thoroughly review Navy Federal’s mortgage lending practices and outcomes for compliance with all federal fair housing and fair lending laws and regulations.”

The same day, 42 members of the congressional Black Caucus wrote separately to Navy Federal president and CEO Mary McDuffie asking her to explain the reported disparity in lending and answer a series of questions.

An unnamed Navy Federal spokesperson in CNN’s Jan. 12 report said the credit union was already reviewing its mortgage practices and that it provided a higher percentage of its loans to Black borrowers than most other large lenders.

Community Bank provides unsecured, debt consolidation and auto loans, but not mortgage loans, according to its website. It also provides access to foreign currency, local ATMs, bill pay, savings, checking and other financial services to installation personnel and commands.

Navy Federal’s spokeswoman underscored Friday that the credit union and Community Bank are separate entities.

“Community Bank and Navy Federal Credit Union are independent of one another,” Southard wrote in her email. “While Navy Federal Credit Union has been selected to manage the Overseas Military Banking Program, these institutions will remain as separate entities.”

Customers cannot access Community Bank accounts at Navy Federal Credit Union locations, she said.

DOD established the Overseas Military Banking Program after World War II to provide active-duty service members and base commands with retail financial and cash services, according to a Navy Federal press release Sept. 25.

Community Bank operates through a contract between DOD, a commercial financial institution and the Defense Finance and Accounting Service. The contract began with a transition period, followed by a base year starting April 1 and one-year options for another eight years.

“There are no immediate improvements or features planned for Community Bank,” Southard said. “As we gain experience operating Community Bank for the DoD’s Overseas Military Banking Program we may identify opportunities for improvements in products and services. Those will be vetted through DFAS for approval prior to implementation.”