VIENNA, Va.-Navy Federal Credit Union plans to add more than 1,000 new employees in 2010 as it staffs up a call center and branch locations.
The majority of the new jobs will be in entry-level spots as Navy FCU looks to open new branch offices near Army posts and Air Force bases, following an expansion of its field of membership in May 2008 to all branches of the armed forces. The CU already employs about 7,100 people and, after attrition, expects that number to grow to 7,400 by yearend.
Executive VP of Human Resources Louise Foreman said the credit union would be hiring at a fairly steady rate throughout the year as the new branches come online, and it is projecting it will receive 4,200 applications each month. She is confident, however, that HR department will be handle the volume and find the right people for the jobs.
"What we have found over the last several years is that we have been able to throttle up and down to handle the staffing ebbs and flows," said Foreman. "We've been doing this a long time so I think we have a fairly successful formula for on-boarding our employees. We use a lot of skill assessments and that helps a great deal in beginning the process in determining if someone will be a good fit."
'Hire For Attitude, Train For Skill'
Navy FCU believes in a "hire for attitude, train for skill," Foreman noted, explaining that the number-one attribute for potential employees is that they are "service oriented" and have solid interpersonal skills. The credit union's intensive training program can take care of the rest.
Most of Navy FCU's new branches are being placed in locations that were previously underserved, though the field of membership expansion will likely result in a larger brick and mortar footprint in the near future. The $41 billion credit union has added about $10 billion in assets over the last two years while adding nearly 70 new branches in that period of time. Navy FCU added 34 branches in 2007, 24 in 2008 and 10 in 2009, giving it a total of 180 locations. Another 10 are planned for 2010.
Business at the world's largest credit union has been brisk this year; Foreman called it a "banner year" for mortgages as Navy FCU process about $6 billion in home loans.
"A lot of it has to do with our brand-that our members very much trust Navy Federal. They know we have been safe and secure during these tumultuous economic times," Foreman said. "I think that resonates not only with our members but it also resonates with applicants that are looking for good place to work. Over 40% of our new hires come from employee referrals. That is truly a testament to how employees feel about Navy Federal."
History Of Keeping Employees
Employees and applicants are likely additionally motivated by the fact that the credit union was rated as a Fortune 100 best place to work in 2008, and Navy FCU has not laid off a single employee in its 76 year history.
