by Veronica Garabelli
Navy Federal Credit Union is expanding its member service operations in the Winchester area, creating 400 jobs.
The company has been in Frederick County for six years. The multimillion-dollar expansion will make it one of the area’s largest employers, Richard Shickle, chairman of the Frederick County Board of Supervisors, said in a statement.
The credit union now has about 500 employees at its Security Drive campus near Winchester. The expansion will involve constructing an additional building on undeveloped land adjacent to the existing facility.
“Navy Federal Credit Union is the world’s largest credit union, and it has thrived since its inception in 1933. Now, this significant investment will expand the company’s footprint in Frederick County. The region boasts an impressive work force and business environment in which the credit union has found great success, leading to the growth of the Frederick County operation,” Gov. Bob McDonnell said in a statement.
The governor approved a $250,000 grant from the Governor’s Opportunity Fund to assist Frederick County with the project. Through its Virginia Jobs Investment Program, the Virginia Department of Business Assistance also will provide funding and services to support the company’s recruitment, training and retraining activities.
Most of the new jobs are expected to be member service representative positions, fielding calls from credit union members.
Navy Federal, which has $50 billion in assets and 4 million members, serves all Department of Defense military and civilian personnel and their families. Navy Federal has more than 220 branches and 10,000 employees worldwide.
The credit union ranked 95th this year in the Fortune magazine’s “100 Best Companies to Work For.”
“Virginia is home to Navy Federal,” said Cutler Dawson, Navy Federal president and CEO. “We have tremendous team members that work at our Winchester facility. This expansion will allow us to bring aboard even more in the future.”
Virginia competed against Florida for the expansion project.
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