Navy Federal’s expansion will add 600 jobs in Fairfax County

Vienna-based Navy Federal Credit Union announced Thursday a $114.6 million expansion to its headquarters operation in Vienna, which is expected to add 600 new jobs.

According to the Fairfax County Economic Development Authority, 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.

“We’ve seen tremendous member growth over the last few years,” Cutler Dawson, CEO and president of Navy Federal, said in a statement. “It’s critical in maintaining our high standards for exceptional member service that we continue to expand our presence in Fairfax County and Virginia…”

Navy Federal Credit Union is the world’s largest credit union with more than $63 billion in assets. It has 5 million members and 12,000 employees worldwide. The credit union serves all Department of Defense and Coast Guard active duty, civilian, and contractor personnel and their families.

“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,” Gerald L. Gordon, president and CEO of the Fairfax County Economic Development Authority (FCEDA) said in a statement.

Gov. Terry McAuliffe approved a $1 million grant from the Governor’s Opportunity Fund for the project. Additional funding and services to support the company’s employee training activities will be provided through the Virginia Jobs Investment Program.