WESTBURY, N.Y. – Three credit unions serving the expansive 15 hospitals affiliated with the North Shore Jewish Health System are negotiating a rare three-way combination.
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The deal would combine $7 million North Shore LIJ Health System FCU with $23 million LIJ Employees FCU and $14 million Hillside Hospital FCU. Each of the three area credit unions are marginally profitable.
Gary Leonard, chairman of North Shore LIJ, said the move would provide expanded branch networks and other offerings that would otherwise take years to achieve.
D. Hilton Associates, The Woodlands, Texas, has been retained to consult on the merger.
