Navy Federal Credit Union Invests in Florida's Workforce
CEO and President, Navy Federal Credit Union
• No. 3 largest finance and insurance cluster in the nation
(U.S. Dept. of Labor, Bureau of Labor Statistics)
• 9.6+ million workers (Tax Foundation)
• 5 million foreign language speakers
• Unemployment stands at 5.4% (July 2015)
• 12 public universities, 9 medical schools, numerous private colleges
In 2003, Navy Federal Credit Union began operations in Pensacola with only 60 employees.
Flash forward to today: That Northwest Florida office has grown to nearly 4,000 employees, making it Navy Federal’s largest campus. With plans to open two more branches by 2016 and a long-term goal of having 10,000 employees in Pensacola by 2020, Navy Federal shows no signs of slowing down.
The world’s largest credit union attributes its continued growth to Florida’s skilled workforce that includes a high concentration of military and financial employees.
Navy Federal isn’t alone. Most of the nation’s leading financial and professional services companies have established large operations in Florida to take advantage of its experienced workforce. More than 170 commercial banks with $131 billion in assets are in operation throughout the state, creating a strong pipeline of skilled finance professionals.