by Mike Sharkey
Staff Writer
The Jacksonville headquarters of Navy Federal Credit Union — the world’s largest “natural person” credit union — is moving from its current Westside location to St. Johns Bluff Road.
Thomas Feindt, Navy Federal’s vice president of branch operations who is based in Vienna, Va., confirmed the move, but there are still issues to decide.
“With more than 100,000 members in the area, we are always looking (and have) several properties in the queue for future expansion,” said Feindt. “No dates have been set as to when construction will take place. Site plan is still being determined, so, (we) not sure we want to commit to any particular layout or size, in case plans change.”
In Jacksonville, Navy Federal has five branch locations, but the credit union is across the nation. Feindt said the current locations are a mix of leased and credit union-owned properties.
The decision to move the local headquarters also has no effect on Navy Federal employees.
“No, employees will not be affected by the move,” said Feindt.
Members, however, will notice some changes in their ability to use the branches and customer service.
“Additional branches constructed will have drive-thru lanes, will also allow additional opportunities for members to perform face-to-face transactions,” he said.
According to Feindt, Navy Federal has $40 billion in assets, 3.4 million members, 180 branch offices, and 7,100 employees worldwide. The credit union serves all Department of Defense military and civilian personnel and their families.
Feindt also said despite the economy, Navy Federal hasn’t just maintained its position in the banking industry, it has improved its bottom line. The growth of 2009 will also be seen this year.
“Navy Federal remains strong and stable to meet the needs of our members,” said Feindt. “We surpassed our goal of making $6 billion in mortgage loans in 2009. Our members deposited $3 billion in savings, and (we) welcomed over 200,000 new members. We opened 10 new branch offices in 2009, plan to open 10 in 2010 and will launch mobile banking this month.”
356-2466