HAUPPAUGE, N.Y. Island FCU has agreed to merge into it CWA Long Island FCU, a one-time $23-million credit union in Long Island’s Ronkonkoma that serves members of the Communication Workers of America in Long Island, Queens, Staten Island and Brooklyn.
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CWA Long Island FCU has reported losses in four of the past five years and had net worth of just 3.6% at March 31. The credit union has 4,200 members and $17 million in assets.
Island Federal, with 30,000 members and $910 million in assets, has locations in Hauppauge, Bellmore, Hicksville, Riverhead, Sayville and Selden.
