BETHPAGE, N.Y. – Bethpage FCU, New York’s largest credit union, on Wednesday said in 2011 it boosted loans by 7.5% and deposits by 13%, or $450 million.
The growth helped increase the credit union’s net income by 8% to $41 million.
“Bethpage had remarkable success in 2011,” said Kirk Kordeleski, president of the $4.5-billion credit union. “Many of the increases exceeded projections, with net income, deposit and loan growth demonstrating our continued track record of growth and expansion.”
A record number of new checking accounts (23,000) were opened at Bethpage in 2011, a 29% increase compared to 2010, partly led by the nationwide Bank Transfer Day movement and banks’ new checking account related fees. In addition, new membership grew by almost 27,000, or 19% more than the previous year’s growth, for a total membership of 196,000.
Bethpage opened three new branch locations in 2011, including its newest bilingual branch in Patchogue, for a total number of 25 branches by year’s end. Bethpage is in the midst of an aggressive branch expansion plan with four new Bethpage branches slated for 2012. In the 10 years since Bethpage received its community charter to serve all Long Islanders, it has grown to become the largest credit union in New York state in terms of assets.
