Press
Bethpage Federal Credit Union launches Business Banking Group
BETHPAGE, NY (March 4, 2014) — Bethpage Federal Credit Union, New York State’s largest credit union, has formed a new division to work with Nassau & Suffolk County businesses to help them achieve their financial goals. The Bethpage Business Banking Group is comprised of three teams of experts with broad-based experience in commercial lending and cash management solutions. The group will focus on key vertical segments including the healthcare/medical arena, professional service firms, wholesalers and distributors, and non-for-profit organizations.
The teams will work in Bethpage branches across Long Island to educate business members about Bethpage’s robust deposit & loan and cash management products and services, including the only business free checking account that pays interest on every balance. Bethpage’s business banking portfolio currently includes more than 5,000 existing business accounts and $230 million in deposits.
“Bethpage is committed to helping local businesses reach their financial goals, provide new jobs on Long Island and build economic opportunities,” said Kirk Kordeleski, President and CEO, Bethpage. “We are very pleased to provide area businesses with an exceptional level of business banking services, which will now allow Bethpage to deliver the same business banking expertise and products as large banks, but without the big fees. We want to help our neighboring businesses get the most they can out of every dollar they earn, and watch their business succeed in every way possible.”
An ardent supporter of Long Island’s business community, Bethpage has engaged businesses across Long Island for the past three years with its annual Bethpage Long Island Small Business Survey, where local businesses spoke frankly about topics and issues that impact their business practices. Findings have shown that although business executives see improvements in their financial health, access to credit remains a problem.
“It’s vital that Long Island businesses have more access to capital, which will be the impetus for growth. For Bethpage, this means funding loans to support small business growth, aid in expansion and stimulate the economy,” continued Kordeleski.
Deposit & Loan Products available through Bethpage Business Banking include: business free checking with interest, business saving, business money market, business certificates of deposit, unsecured term of loans and lines of credit up to $100,000, secured term loans and lines of credit, owner occupied commercial real estate loans, SBA (Small Business Administration) loans & financing, business credit cards and business auto loans. Cash Management Products are also available including a variety of online banking services, remote deposit capture including check scanners, credit card processing, deposit courier service, currency delivery service, and payroll services.
The Bethpage Business Banking Group is headed by Lawrence S. Jones, Vice President, Commercial Lending. Since Jones joined Bethpage in 2008, the credit union’s commercial real estate portfolio has grown to $525 million. “With the formation of the Business Banking Group Bethpage will be able to provide the full spectrum of business banking services to small and mid-sized businesses,” Jones said. “We have recruited experienced business bankers from some of the region’s leading banks including Capital One, Citibank and People’s United.
Last year, Bethpage President & CEO Kirk Kordeleski was appointed Chairman of the Long Island Association, Long Island’s leading business and civic organization. In this position, Kordeleski works with Long Island businesses, communities and regional initiatives to help its members thrive and build economic development opportunities. Kordeleski previously served on Ed Mangano’s Business/Economic Development Group, and currently sits on the Council of Advisors for the Community Development Corporation of Long Island.
Bethpage also partners with Long Island Press for its annual “Best of Long Island” Awards, helping Long Island businesses gain valuable exposure and celebrate their success in the Long Island community.
Bethpage Federal Credit Union is a not-for-profit financial cooperative, existing solely to serve its members and has experienced rapid growth in recent years to become a strong alternative to banks. Bethpage was approved for the largest federal community charter in the U.S. in 2003 and now is New York State’s largest credit union and Long Island’s primary community financial institution with 232,000 members, 27 branches and 60 shared service center locations throughout Nassau and Suffolk Counties. As a financial cooperative, Bethpage offers the best-in-market rates, low fees and world-class service, and a full menu of personal and commercial financial services.
Bethpage maintains branch locations in Bay Shore, Bay Shore King Kullen, Bethpage, Central Islip, Commack King Kullen, East Meadow NuHealth, Elmont, Farmingdale, Freeport, Glen Cove, Hempstead, Huntington, Levittown King Kullen, Lynbrook, Massapequa, Melville, Mineola, North Babylon, Patchogue, Port Jefferson, Riverhead, Seaford, Smithtown, Roosevelt, Valley Stream King Kullen, West Babylon and Westbury with over 425 surcharge-free ATMs including King Kullen, CVS Pharmacy, 7-11 and Costco locations throughout Long Island. For more information, call 1-800-628-7070 or visit https://www.bethpagefcu.com.