The $65.5 billion Navy Federal Credit Union said Monday it will invest $1.35 billion in an expansion of its facilities in Pensacola, Fla.

The 5.2 million-member institution has had a presence in Pensacola since 2003 when it began there with 60 employees.

In 2014, the Vienna, Va.-Navy Federal saud  added another 530 jobs to Florida location, raising the total number of the credit union's employees in the region to more than 3,800.

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