Overseas military banking program
Active Definitive Contract Awarded Last action
- Contract number
- HQ042323C0007
- Awardee
-
Navy Federal Credit Union UEI LZBJY5LJZZL1
- Awarding agency
-
Defense Finance and Accounting Service
Department of Defense
- Obligated
- $23,741,753
Award facts
- Opportunity
-
- HQ042322R0008 Solicitation number
- Contract value 33% obligated
-
- $23,841,960.20 Current, with exercised options
- $71,339,433.20 Potential, with all options
- Completion date 32% complete
-
- Current, with exercised options
- Potential, with all options
- Contracting staff
- Funding agency
- Office of the Secretary Headquarters, Department of Defense
- NAICS code
- 522110 Commercial Banking
- PSC
- R711 Support- Management: Banking
- Set-aside
- No set-aside
- Competition
- Full and Open Competition · 1 offer Negotiated Proposal / Quote
- Pricing
- Cost Plus Fixed Fee
- Place of performance
- San Antonio, TX 78205, USA
- Legislative mandates
-
- Service Contract Inventory FAR subpart 4.17
Award details come from SAM.gov/FPDS.
Transactions
| Action | Obligated | Date |
|---|---|---|
| Funding Only Action | -$35,843 | |
| Other Administrative Action | $218 | |
| Exercise an Option | $7,132,122 | |
| Funding Only Action | $50,000 | |
| Funding Only Action | $1,399,026 | |
| Other Administrative Action | -$64,364 | |
| Supplemental Agreement for work within scope | $0 | |
| Other Administrative Action | $0 | |
| Other Administrative Action | $0 | |
| Supplemental Agreement for work within scope | $0 | |
| Funding Only Action | -$170,987 | |
| Exercise an Option | $5,940,640 | |
| Other Administrative Action | $0 | |
| Funding Only Action | $1,165,297 | |
| Funding Only Action | $756,730 | |
| Supplemental Agreement for work within scope | $5,636,390 | |
| Other Administrative Action | $0 | |
| Exercise an Option | $51,000 | |
| Other Administrative Action | $0 | |
| Other Administrative Action | $0 | |
| Original award | $1,881,524 |
Show all 21
About this award
The Office of the Secretary of Defense awarded a definitive contract to Navy Federal Credit Union for overseas military banking services on September 25, 2023, with a ceiling value of $71.3 million and an ultimate completion date of March 31, 2033.
Place of performance is San Antonio, TX. The contract is priced on a cost-plus-fixed-fee basis with no set-aside applied.
In FY2024, the contract generated $3.7 million in invoiced labor across 279 FTEs working 580,528 contractor hours, reflecting a derived government-paid hourly rate of $6.44/hr. FY2025 activity increased to 528 FTEs and $4.3 million invoiced, indicating year-over-year labor expansion. Navy Federal Credit Union self-performed all reported hours; no subcontractors were identified in SCI reporting for FY2025.
Quick answers
Who was awarded contract HQ042323C0007?
HQ042323C0007 was awarded to Navy Federal Credit Union by Defense Finance and Accounting Service (Department of Defense) on September 25, 2023.
How much is contract HQ042323C0007 worth?
The government has obligated $23,741,753 on HQ042323C0007. Its current value, with exercised options, is $23,841,960. Its potential value, with all options, is $71,339,433.
Which agency awarded contract HQ042323C0007?
Defense Finance and Accounting Service (Department of Defense) awarded HQ042323C0007, with funding from Office of the Secretary (Headquarters).
Was contract HQ042323C0007 competed?
The extent of competition for HQ042323C0007 was full and open competition. The government received 1 offer.
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