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Bethpage Federal Credit Union acquires Northwell’s credit union

Bethpage Federal Credit Union on South Oyster Bay

Bethpage Federal Credit Union on South Oyster Bay Road in Bethpage. Bethpage Federal Credit Union has acquired Jericho-based Northwell Health Federal Credit Union. Photo Credit: BFCU / Tony Calarco

Bethpage Federal Credit Union has acquired Jericho-based Northwell Health Federal Credit Union.

Bethpage will immediately take over the assets and liabilities belonging to the credit union that served employees at the state’s largest health system.

Northwell Health Federal Credit Union’s two branches will also be folded into the Bethpage network by the end of the year, said Wayne Grossé, president and chief executive of Bethpage Federal Credit Union.

The Northwell credit union had 17,000 members and $100 million in assets.

“Their hospitals and where their employees live overlay with our system very nicely,” said Linda Armyn, senior vice president of corporate affairs at Bethpage.

Armyn said collaboration between Northwell and Bethpage will extend beyond the takeover of Northwell’s credit union.

“We will provide financial education for their employees, and they will offer wellness education for our employees and members,” she said.

Bethpage is larger and its network will allow it to offer a broader array of products to Northwell employees, said Gregg Nevola, vice president and chief rewards officer, human resources, for New Hyde Park-based Northwell Health.

Northwell Health has 62,000 employees and operates 22 hospitals and more than 550 outpatient facilities in the state.

Bethpage, the largest credit union on Long Island and the 16th-largest in the country, has $7.4 billion in assets, 313,000 members and 35 branches.

Bethpage last acquired a credit union in March 2016 when it took over Montauk Credit Union, a one-branch institution based in Manhattan. Montauk was a big lender to taxi-medallion owners.

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