Navy Federal to Expand Headquarters, Add 600 Employees, Invest $114.6 Million

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Gov. Terry McAuliffe announced Thursday that Navy Federal Credit Union, the world’s largest credit union with more than five million members, will expand its headquarters campus in the Town of Vienna, according to the Fairfax County Economic Development Authority (FCEDA). The credit union will add 600 headquarters employees and invest $114.6 million in the campus as a result of the expansion.

The investment will include a new four-story, 234,000-square foot office building and a parking deck on a 10.8-acre site. An elevated walkway will connect the new building to the rest of the headquarters campus.

“Fairfax County has been proud to be the home of Navy Federal for more than three decades, and this significant expansion of the credit union’s headquarters operation is a great testament to the confidence its leadership has in the county and the town of Vienna as a business location and hub for their employees,” said Gerald L. Gordon, Ph.D., president and CEO of the Fairfax County Economic Development Authority (FCEDA). “Navy Federal is an outstanding corporate citizen, especially for its work with military families, and we are delighted it is taking advantage of the business assets and quality of life that the county and the town offer.”

Want to know more about Navy Federal? Check out this fact sheet from the company.

Navy Federal has more than $63 billion in assets, 260 branches and a workforce of more than 12,000 employees worldwide, according to the FCEDA news release. The credit union serves all Department of Defense and Coast Guard active duty, civilian, and contractor personnel and their families.

“We’ve seen tremendous member growth over the last few years,” said Cutler Dawson, CEO/president of Navy Federal. “It’s critical in maintaining our high standards for exceptional member service that we continue to expand our presence in Fairfax County and Virginia. This state has a great wealth of talent, and Vienna is a community we are proud to be a part of.”

The FCEDA worked with the Virginia Economic Development Partnership to secure the project for Virginia. McAuliffe approved a $1 million grant from the Governor’s Opportunity Fund to assist Fairfax County with the project. Additional funding and services to support the company’s employee training activities will be provided through the Virginia Jobs Investment Program.

IMAGES: Renderings and logo courtesy of Navy Federal Credit Union