Summer Associate Internship (Membership & Deposit Product)

Overview

The Membership & Deposit Product Division (MDP) focuses on creating an exceptional deposit product suite & tool kit to enable our membership to meet their savings and financial goals. This role will be on the Membership & Deposit Product team, which consists of Savings & Checking Operations, Certificate/IRA & Trust Operations, Membership Operations, Survivor Support, and our Business Support team. As a team, we drive forward the product strategy, pricing and servicing of members checking, savings, money marketing, certificate, and IRA products. We are always looking for operational insights and process improvement/efficiency solutions to push forward our member experience and to set our members up for a life of financial success!

Navy Federal Membership is growing rapidly, and the financial industry is ripe for deposit innovation. Savings and deposit products are something that most consumers interact with daily, and our membership is no different. MDP Operations is continuously evolving to maximize engagement from members and team members, taking advantage of insights that help us in improving processes to ensure an optimal experience.

The Summer Associate will work in a flexible hybrid manner and report to leadership at our campus in either Vienna or Winchester, VA or Pensacola, FL. Responsibilities will include analyzing processes and procedures to identify areas of opportunity, then create recommendations and influence decision makers. It will be essential for the team member in this position to be inquisitive and a quick learner to understand the evolving product strategy and be able to connect process/procedures to the bigger picture business trends to identify data-driven recommendations that produce results.

Potential projects:

• Operational support and task processing - the Membership & Deposit Product teams handle member requests and product/service maintenance needs that range from basic to highly complex and time-consuming. Through a combination of job shadowing and task processing, our goal is to identify opportunities to create increased process efficiencies and automated solutions to improve response times and provide more personalized deposit account interactions with our members.
• Special Project Support - may include the need for resources for business requirements development, process mapping, operational risk assessment and monitoring, forms creation and/or management, including disclosure drafting and compliance review and partnership with our training support partners.

The Summer Associate Program is a 12-week internship program beginning in May 2026 and ending in August 2026. Students will work on impactful projects and meaningful work during their internship. To qualify for this position, applicants must be currently pursuing a degree from an accredited college or university and have an anticipated graduation date of December 2026 or later.

Responsibilities

• Assess current processes and procedures to identify best practices, shifting trends, and areas of opportunity
• Analyze member data to understand, predict and identify opportunities to influence member and/or frontline support partners behavior
• Develop recommendations for initiatives or process changes that Savings Products organization could/should pursue based on findings, support recommendations with data and empirical evidence, and develop a roadmap or action plan as applicable
• Develop and present proposal on findings from analysis and research to management up to and including senior executives
• Become integrated into and participate in the day-to-day strategy and operations of the team

Qualifications

• Excellent communication and presentation skills
• Ability to work independently and think outside of the box
• Strong strategic, critical, and analytical thinking skills
• Basic knowledge of financial services/payments a plus
• Comfort telling stories with data

Hours: Monday - Friday 8:00AM - 4:30PM

Location: 820 Follin Lane, Vienna, VA 22180 | 5550 Heritage Oaks Dr Pensacola, FL 32526 | 141 Security Dr. Winchester, VA 22602

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