FEBRUARY 2018 • LONGISLANDPRESS.COM 31
PRESS BUSINESS
BEST OF LONG ISLAND SPOTLIGHT
Giving back and getting involved
How Bethpage Federal Credit Union puts people above profits
Bethpage Federal Credit Union is the largest credit union on Long Island.
One after another, donors lined up
outside Bethpage Federal Credit
Union headquarters the Friday
before Thanksgiving to give a total
of nearly 10,000 pounds worth of
food in a massive outpouring of
benevolence.
While the heartwarming show of
support for the hungry at the 9th
annual turkey drive was impressive,
it’s just one of many charitable causes
that the not-for-profit BFCU backs.
The credit union’s employees donate
a reported 8,000 volunteer hours
with local charities annually. And it’s
famously generous with its nearly $8
billion in assets that it uses to sponsor
a host of local charities and events.
“Our vision is to enrich the lives of
our members and our communities,”
BFCU CEO Wayne Grossé tells
the Press. “We like sponsoring
programs that recognize the best
of everything Long Island has to
offer.”
BFCU — the largest credit union
in the state and the Northeast
and the 16th largest in the nation
— started 77 years ago, originally
serving Grumman employees at
the defense manufacturer’s plants
in Bethpage. Fifteen years ago, the
credit union expanded its charter to
serve anyone in Nassau and Suffolk
and in 2016, when it acquired
Montauk Credit Union, it went a
step further, allowing anyone to
bank with them.
Grossé became CEO in 2015 after
joining the credit union as its
chief operating officer in 1999. The
Bayport resident has deep local
roots, earning his Masters’ degree
in Business Administration from
Dowling College in Oakdale. Prior
to BFCU, he was executive vice
president at Island Federal Credit
Union.
Besides its philanthropy, Bethpage
also routinely scores high marks
under Grossé. Money magazine
named Bethpage Federal Credit
Union the best bank in New York
State. BFCU also ranks among the top
employers statewide. And Bankrate
rated it one of the Top 5 Best Credit
Unions in the United States.
In addition to food drives and
community programs, BFCU hosts
include the Bethpage Air Show at
Jones Beach and four simultaneous
health walks in collaboration with
Northwell Health on May 21. In
addition, BFCU executives serve
on the boards of several local
nonprofits, including the YMCA,
Family Service League, Island
Harvest and United Way of Long
Island. It’s the credit union that
genuinely wants to give back.
And the benevolence pays dividends
for BFCU. Thanks in part to all
that good publicity and Grossé’s
leadership, deposits in its federally
insured accounts continue to grow,
as do branches — there are now
33 — and new accounts. It has
more than 250,000 members, with
another 17,000 added from a merger
with Northwell Health Federal
Credit Union that allowed BFCU
to expand into Westchester, Staten
Island and New Jersey.
All that’s in addition to its
sponsoring the Bethpage Best of
Long Island program since 2012.
“We found that a lot of the
communities we serve were also
promoting the small businesses
through the Best of Long Island
program,” Grossé says. “We see a lot
of small businesses whose customers
are very passionate about what they
do and they like to be involved
in this program…The nominees
are engaged in their communities
and they come out and vote and
it’s a great sign that Long Island
businesses are doing well.”
Save the Date
No program touts all that’s best about LI better than the Bethpage Best of Long
Island competition, now in its 13th year. Watch for this month’s special issue
dedicated entirely to announcing the 2018 Bethpage Best of Long Island contest
winners. And once it’s official, winners and readers alike are invited to celebrate
the results from 6 to 9 p.m. on Wednesday, March 14 at The Inn at Fox Hollow,
located at 7725 Jericho Tpke. in Woodbury. See you there!
Bethpage Federal Credit Union
CEO Wayne Grossé.