50 years ago, history was made when Suffolk Federal opened its doors in the basement of the Department of Public Works to service the local community. Today, with the support of its members and the community, the credit union has grown to become a significant presence in Suffolk County. As the credit union continues to expand, it has reached the $1 billion mark in assets, reflecting an emphasis on membership and a successful expansion strategy that has strengthened its offerings and services and has transformed Suffolk Federal into a leading financial institution.
This is a significant accomplishment for this local community financial institution. “Many things may have changed in 50 years, but what has not changed is our commitment to the members, dedication to service and support for the communities where we do business,” said Ralph D. Spencer, Jr., Suffolk Federal President and CEO. “Since 1967, Suffolk Federal has served the increasing needs of its membership by enhancing its already exceptional member services, adding new technology to make banking more efficient and increasing opportunity and flexibility to service member needs.”
During 2017, Suffolk Federal celebrated its anniversary with its members and marked this momentous occasion with a year-long array of meaningful customer outreach, events and promotions which have provided tens of thousands of dollars back to local residents and the community. In addition, the credit union provided innovative tools and opportunities designed to enhance members’ financial success. Highlights included:
Suffolk Federal Gold Celebration Party: A summer celebration party was held at its headquarters in Medford, which included a BBQ lunch for members, friends and family as well as fun games, activities and face painting for the children. The party included a special Suffolk Federal Golden Anniversary Promotion which offered a chance to earn rewards, including gift cards and a $200 deposit when new members opened a checking account with direct deposit.
Suffolk Federal’s Celebrate & Do Good Promotions: At each local branch, members had an opportunity to win $500 for a $5 donation which benefited Long Island Cares, the Harry Chapin Food Bank. Suffolk Federal raised more than $4,500 dollars to support this worthwhile organization’s much needed programs and services.
Support for Local Community: In addition to the overall support for the community which Suffolk Federal continuously provides, each Suffolk Federal branch selected initiatives within their local communities to support. From Paws of War and Fountainhead Congregation to Miller Place Fire Department, Brookhaven Town Animal Shelter, Helping Makes U Happy, Suffolk County Crime Stoppers and much more, Suffolk Federal branches provided strong support for organizations which make a difference in local communities.
Supporting Our Veterans: Suffolk Federal served as Lead Sponsor for extreme distance ultra-marathon runner and Suffolk Federal’s VP of Information Technology Eva Casale as she completed an incredible seven marathons in seven days to raise funds and awareness for Hope For The Warriors. Eva ran a total of 184 miles during her Every Veteran Appreciated Week. Each marathon focused on honoring local servicemen killed in action and was linked to communities they called home.
New Technology & Website: Technology has been a primary focus for Suffolk Federal. With today’s increasingly mobile environment, the credit union is continuously offering new technology and enhancing their app which was designed to simplify life by providing everything a member needs for mobile banking. Suffolk Federal also launched a new user-friendly and mobile responsive website providing members an exciting, inviting and bold new look with an enhanced user-friendly experience and innovative, technology tools were introduced to help protect members from fraud, credit and identification theft. These tools include:
- CardValetMobile App
Provides real-time notifications when the debit card is used. Members can lock their card anytime.
- Card Lock Mobile App
Allows members to take an active role in protecting credit card accounts.
- Digital Wallet
Users can shop without carrying credit or debit cards. Proactively safeguards personal identity and cards using the latest encryption technology.
Financial Education and Counseling Tools: Suffolk Federal partnered with GreenPath, a financial education and counseling program that offers financial counselling and education to empower those in need to ease financial stress, manage debt, save for the future, make smart financial decisions, and achieve financial goals.
First Home Club Account: To support first-time homebuyers with navigating the home buying process, Suffolk Federal offers its members the Federal Home Loan Bank of New York’s First Home Club (“FHC”), a program designed to assist moderate and low-income first-time homebuyers in the purchase of a new home.
Scholarship Program: Suffolk Federal helps members make dreams come true by offering local high-school seniors a chance to win scholarships. Suffolk Federal awards scholarships of $1,500 each to ten young deserving members. One scholarship winner also receives an additional $2,500 scholarship provided by the LT Michael P. Murphy Memorial Scholarship Foundation which Suffolk Federal matches for a total of $5,000.
Miscellaneous: Suffolk Federal continues to implement member programs including Defensive Driving Classes, PetPlan Pet Insurance and much more. In addition, Suffolk Federal shared memorable moments with the public which included some fun facts on Facebook, Twitter and Instagram.
“We have built our reputation upon the promise to deliver extraordinary financial services for our members,” explained Spencer. “Our vision is to do what is best for our members and to always make extraordinary member service a top priority,” he continued.