Suffolk Federal Credit Union, headquartered in Medford, NY, has just announced that it has received approval for a community charter expansion by the National Credit Union Association (NCUA). This expanded charter will now allow the local NY credit union to offer its banking services in Nassau County, NY.
With this approval, Suffolk Federal membership expands to serve those who live, work, worship, attend school or regularly conduct business in Nassau and Suffolk counties. According to James J. Maggio, Jr., Chairman of the Suffolk Federal Board of Directors, “this charter expansion is directly in line with our strategic vision to support Long Islanders with valuable products and services. Our ability to reach our neighbors in Nassau County is a natural outgrowth of our plans to grow the credit union meaningfully.” “We not only bring our own brand of exceptional products and services,” he continued, “but we bring our brand of member service, which is unparalleled.”
The charter expansion is effective immediately. Michele Dean, CEO and President of Suffolk Federal, indicates that an integral part of Suffolk Federal’s expansion will be a branching strategy. “We appreciate the value and convenience of branches and we know they are important to our members.” She further explains “our goal is to be where our members need us. We already have a robust digital platform and a Contact Center that is ready to welcome our Nassau neighbors and we seek to complement those channels with a methodical, data-driven plan of branch expansion.”
About Suffolk Federal
Suffolk Federal is a local not-for-profit cooperative financial institution owned and operated by its members. It was chartered in 1967 by the National Credit Union Administration (NCUA). The volunteer-directed credit union has assets in excess of $1.4 billion, 10 branches and over 62,000 members, including partnerships with the Suffolk County employee unions. Membership is open to anyone who lives, works, worships, attends school or regularly conducts business in Nassau and Suffolk counties as well as immediate family members of current membership. To learn more, visit www.suffolkfcu.org, call 631-924-8000.