Vienna's Navy Federal Credit Union Investing $100 Million, Creating 1,400 New Jobs in Winchester

VIENNA, VA -- Gov. Terry McAuliffe announced during his State of the Commonwealth Address that Vienna-based Navy Federal Credit Union will invest $100 million to expand its Winchester operations center in Frederick County. The project will nearly double Navy Federal’s workforce employee-count and physical square footage in Frederick County, the Governor's Office said in its announcement. Virginia competed for the project, which will create 1,400 new jobs.

The company's headquarters are in Vienna, at 820 Follin Lane SE. A company spokeswoman offered these details Thursday:

• The expansion will include the addition of a 180,000-sqaure-foot building (three levels) and a five story parking garage.
• New jobs include positions in Lending, ISD and Contact Center
• Proposal to break ground March 2017, finished 2018.

“This Virginia-headquartered company’s growth and investment over nearly 40 years is an incredible testament to our unparalleled business environment, infrastructure and top-notch workforce,” said McAuliffe. “An expansion of this magnitude is transformational for Frederick County and for the Commonwealth, as Navy Federal is a critical partner providing good-paying job opportunities for thousands of hard-working Virginians. These jobs and their services help support the men and women of our military and their families worldwide, and we are proud to be the home of NavyFederal as we continue to build the new Virginia economy.”

Navy Federal Credit Union is the world’s largest credit union with more than $79 billion in assets, six million members, 295 branches, and a workforce of more than 14,000 employees worldwide. The credit union serves all Department of Defense and Coast Guard Active Duty, civilian, and contractor personnel and their families.

“At Navy Federal, our number one goal is to provide exceptional member service,”said Cutler Dawson, Navy Federal president and CEO. “We are delighted with the talented and hardworking employees at our Frederick County-Winchester operations center, and this expansion will allow us to build upon our success there.”

The Virginia Economic Development Partnership worked with Frederick County to secure the project for Virginia. McAuliffe approved a $2 million grant from the Commonwealth Opportunity Fund to assist the County with the project. The Governor also approved $4 million in funds from the Virginia Economic Development Incentive Grant (VEDIG).

PHOTO courtesy of Navy Federal Credit Union