A federal judge has sentenced a used car salesman to seven years in prison for defrauding $1.2 million from Navy Federal Credit Union.
The 3.9 million-member, Virginia-based credit union expects to add 600 employees there, bringing its Pensacola total to 3,000 within a year.
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Navy Federal, Pen Air teamed up on financing for project about to go under construction at Pensacola airport.
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Commercial loans from two credit unions will provide the financing for the construction of a new hotel development that will eventually employ hundreds of residents of Pensacola, Fla., according to one of the credit unions that made the loans.
Credit union lending to fund $13 million of $17 million expected price tag for 127-room hotel.
The development will include a 127-room hotel and further development on five plots of land which the developer will lease from the City of Pensacola.
The $44 billion Navy Federal Credit Union has been ranked by Experian as the 20th largest used vehicle lender in the country by market share.
Navy Federal has launched a new effort to help USO-Metro serve service families at four Baltimore-Washington, D.C. airports.