Navy Federal Remodels Branches and Eyes New
Navy Federal Credit Union, the nation’s largest, is making 2011 the year for fix up and makeover for many of its worldwide branches.
Indeed, work was started in earnest this spring with relocation and modernization of existing base facilities to accommodate more drive-ins and lobby improvements as the CU moves from leased to owned properties.
In addition, the Virginia-based CU also is making plans to add eight new domestic branches at diverse locations as it prepares to add an estimated 300,000 new members to its existing base of 3.7 million members.
"Moving from leased space to owned space does allow Navy Federal to retain more control over its brand, something that would have been impossible should we need to add drive-thru branches in leased space," explained Della Butler, regional manager for Navy’s Southeast region.
Butler identified the eight additional branches slated to open this year at Fort Riley in Manhattan, Kan.; Fort Rucker, Enterprise, Ala; Patrick AFB at Cocoa Beach, Fla.; in addition to Phoenix, Ariz., Jacksonville, Fla.; Fort Carson, Colo., Fort Leavenworth, Kan. and Dallas.
Meanwhile, Patrick Miller, vice president of Navy’s Western division, which covers the CU’s acquisition last year of the failed $605 million USA Fed CU of San Diego, noted that newly acquired overseas facilities in Japan performed well in serving military personnel after the Japanese earthquake and tsunami. Both Cutler Dawson, president/CEO, and Lee Gound, executive vice president, traveled to northern Japan facilities to meet with commands and team members.
Navy’s 23 new southern California branches in San Diego and Riverside counties, said Miller, "have already seen a rather dramatic double-digit increase in new account activity and member visits." Moreover, "operationally, we’re particularly pleased that 87% of our new team members who came to us in the merger are still with us," said Miller, noting also at least one new branch is planned at March Air Force Base in Riverside, Calif. in 2012.
Butler of the Southeast region said there are six branch relocations scheduled to occur in the remainder of 2010 following two occurring in April and June. On June 6, Navy relocated one of its three Jacksonville, N.C., branches to a site near the Marine Corps Base Camp Lejeune and Marine Corps Air Station New River.