Navy Federal Credit Union will make a multi-million investment to expand its member service operations center at its Winchester, Virginia campus, adding 400 new jobs in Frederick County.

Governor Bob 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," the Governor added.

"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."

"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's Economic Development Partnership worked with Frederick County and the Winchester-Frederick County Economic Development Commission to provide incentives. 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."