Navy FCU Pilots On-BoardSmartCard

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NORFOLK, Va. - (02/08/05) -- Navy FCU has joined a ship-boardpilot test of the U.S. Navy's stored value Cash Card at Naval AirStation Norfolk. The test, which is being conducted by the U.S.Treasury Financial Management Services and the Department of theNavy, is being conducted aboard the USS Kearsage and involves 75sailors who are Navy Fed members. The card enable sailors to makeon board purchases without cash while out a sea, as well as ashoreaway from homeport. The program is being managed by JP Morgan Chasebut concerned Pentagon officials sought an outside participant,like Navy Fed, in order to expand the options for sailors so thatuse of the card does not require a JP Morgan Chaseaccount.

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