RICHMOND –
Governor Bob McDonnell today announced that Navy Federal Credit Union
will
make a multi-million dollar investment to expand its member service
operation in Frederick County. The credit union will construct an
additional facility on its Winchester, Virginia campus, adding 400 new
jobs. Virginia successfully competed against Florida
for the project.
Speaking
about today’s announcement, Governor McDonnell said, “400 new
good-paying jobs are coming to Frederick County. 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
workforce and business environment in which the credit
union has found great success, leading to the growth of the Frederick
County operation. Today’s announcement furthers the strong relationship
between the Commonwealth and Navy Federal, which has its headquarters in
Fairfax County. We look forward to Navy Federal’s
continued growth as it serves its worldwide membership.”
“With
more than 220 Navy Federal branches worldwide, millions of members
around the globe are served from the member service operation in
Frederick
County,” said Jim Cheng, Virginia Secretary of Commerce and Trade.
“With this expansion, the credit union is able to construct an
additional facility on its undeveloped property adjacent to the current
operation and further increase its presence and size in
Virginia. The addition of 400 new jobs is significant for the region,
and we thank Navy Federal for its continued investment.”
Navy
Federal Credit Union is the world’s largest credit union with $50
billion in assets, four million members, more than 220 branch offices,
and more than 10,000 employees worldwide. The credit union serves all
Department of Defense military and civilian personnel and their
families. For additional information about Navy Federal, visit
www.navyfederal.org.
“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.”
The
Virginia Economic Development Partnership worked with Frederick County
and the Winchester-Frederick County Economic Development Commission
to secure the project for Virginia. Governor McDonnell 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
will provide funding and services to support the company’s recruitment,
training and retraining activities.
“We
are pleased that Navy Federal Credit Union has chosen Frederick County
for its expansion,” said Richard Shickle, Chairman of the Frederick
County Board of Supervisors. “Navy Federal has operated its member
service operation in Frederick County for six prosperous years,
expanding to more than 500 employees in that time. At the completion of
its expansion, Navy Federal will be one of the largest
employers in our community, providing quality job opportunities for our
residents.”
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