Navy Federal Credit Union, the world’s largest credit union, has appointed Dietrich Kuhlmann as its next president and CEO, effective 1 March 2024.
He will replace outgoing CEO Mary McDuffie, who announced her retirement last September. 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 (COO).
Ed Cochrane, chairman of the board of directors at Navy Federal, said it undertook a “months-long, rigorous process” to select its next CEO.
Kuhlmann is a graduate of the US Naval Academy class of 1983 and also holds a Master of Science in engineering management from Catholic University. During his 35 years at the Navy and the US Department of Defense, Kuhlmann was a career submariner with a sub-specialty in financial management. During his career, he has completed a number of financial assignments at the Pentagon. In his final military role before retirement, Kuhlmann served as programming division director on staff of the Chief of Naval Operations and was responsible for the US Navy’s $800 billion, five-year capital allocation process.
“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 served the credit union for 24 years and has been its CEO since 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.”
Navy Federal was established in 1933 and has now grown to serve more than 13 million members globally, employing 24,000 people and having a network of 350 branches across the world.
