VIENNA, Va.–The world’s largest credit union has named a new president and CEO to succeed the retiring Mary McDuffie, who announced in September of 2023 her plans to step down.
The $170.8-billion Navy FCU has selected Dietrich Kuhlmann to lead the organization. Kuhlmann joined Navy Federal in 2019 after retiring from the United States Navy as a rear admiral and has spent the past two years as the credit union’s chief operating officer.
In that role, Navy Federal said Kuhlmann has overseen operations across the credit union’s Pensacola, Fla., Winchester, Va., and San Diego, Calif., campuses, and he “championed policies promoting Navy Federal’s corporate vision, culture and employee engagement to deliver the highest standards of service to its members worldwide.”
Navy FCU, which has more than 13 million members, also has more than 350 branches.
‘Leader of Integrity’
“I’ve had the pleasure of working closely with Dietrich in numerous capacities since he came on board at Navy Federal,” said McDuffie, who has been with the credit union for 24 years and who was named CEO in 2018. “A leader of integrity with a powerful sense of duty and purpose, Dietrich also genuinely understands what our members need. I can think of no better individual to steer us into the next phase of growth and further our mission to serve Navy Federal Credit Union’s members and their families.”
Educational, Career Background
A graduate of the U.S. Naval Academy class of 1983, Kuhlmann also holds a Master of Science in engineering management from Catholic University. During his 35 years at the Navy and the U.S. Department of Defense, Kuhlmann was a career submariner with a sub-specialty in financial management, Navy Federal said.
“I’m tremendously grateful to be trusted with the responsibility to lead Navy Federal Credit Union,” said Kuhlmann. “This is an incredible opportunity to continue my career of service to our military community and I’m eager to build upon the progress Mary has championed on behalf of our members as CEO.”
Three Operational Command Tours
Navy FCU reported that in active-duty service, Kuhlmann completed three successful operational command tours and multiple finance assignments at the Pentagon. In his final role before military retirement, as programming division director on staff of the chief of naval operations, Kuhlmann was responsible for the U.S. Navy’s $800 billion, five-year capital allocation process.
Kuhlmann will be taking the helm at a time Navy FCU is under considerable pressure from both Congress and the courts related to alleged bias in its mortgage lending practices. Navy Federal Credit Union has the widest disparity in mortgage approval rates between White and Black borrowers of any major lender, a trend that “reached new heights last year,” according to an analysis performed by CNN.