Members First Newsletter
Fourth Quarter 2021
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Wayne N. Grossé President & Chief Executive Officer
A message from the President.
Fall is here and the holiday season is just around the corner. It is amazing to think that we are already coming to the end of 2021. As the weather gets colder, and the days start to get shorter, I tend to reflect on the past. This year, we celebrate our 80th Anniversary on October 28th, and as I look back on our history, it is incredible to see how much we have grown as a financial institution surpassing both membership and asset milestones year after year. I invite you to take a look at some of our major milestone accomplishments in our 80th-anniversary article in this issue of Members First.
With all of our success over the last 80 years, it is important to consider the challenges we faced and remember how we persevered to overcome these obstacles. We are currently in the middle of an unprecedented and challenging period of our history as we navigate the transitional landscape of the Covid-19 pandemic. Like many of you, I entered 2021 with optimism and hope that we would be on the other side of the pandemic by the end of this year. And like many of you, the rise of the Delta variant quickly diminished my optimism for a speedy return to pre-pandemic life.
Today, I remain hopeful that we will get through this pandemic as we have with
previous challenges—together. As our history has shown, with the continued support
of our membership and the dedication of the Bethpage Team, we will overcome any challenge we face.
Being a trusted partner to our members and employees is at the heart of everything
we do here at Bethpage. I am happy to say that our commitment has not gone unnoticed.
This year, we received a few prestigious awards, as a financial institution and as an
employer, which are featured in this issue of Members First.
As we plan for the future, we are focused on financial and physical wellness. Our Fall Free Checking promotion features the chance to win a Republic Studio Bike when you open a new account. With no maintenance fees or minimum balance requirements, access to free budget tools and financial tutorials, and the chance to win a new bike, we make it easy to hit your financial and physical fitness goals.
As we head toward the holidays and the end of another challenging year, I want to express my gratitude for your patience, understanding, and continued membership. Please accept my best wishes for a safe, healthy, and happy New Year, filled with continued resilience and strength. We look forward to serving you in 2022 and beyond.
Sincerely,
Wayne N. Grossé
President & Chief Executive Officer
Get fit with Bethpage Free Checking.
It’s as easy as riding a bike.
When you open a Bethpage Free Checking Account by December 31, 2021, you’ll be automatically entered for a chance to win a Republic Studio® bike!*
Plus, with no monthly maintenance fees or minimum balance requirements, free budget tools and financial tutorials, we’re making it easier than ever to achieve your financial and physical fitness goals.
- Use your debit card at 30,000 free ATMs nationwide[1]
- Send and receive money using Zelle®[2]
- Deposit checks right from your smartphone
To learn more, or to open your Bethpage Free Checking Account today, visit lovebethpage.com/fit.
Bethpage Federal Credit Union Turns 80!
On October 28, 1941, the Grumman Plant 1 and 2 Federal Credit Union opened its doors as a financial alternative for Grumman employees to manage their earnings. It started with 114 members that deposited a total of $413.50 (approximately $7,393.46 today). With the goal of meeting the changing needs of its members through personal service and value, membership increased 251% with 400 members who had saved $4,750.00 (approximately $121,000 today), over the first year of operation.
Today, thanks to your membership and loyalty, Bethpage Federal Credit Union has grown to become one the largest credit unions in the nation, with over 430,000 members across 50 states, and over $11 billion in assets. Today we remain true to our original mission and continuously strive to meet the financial needs of our members, employees, and communities. We continue to care about what you care about.
Eight For Eight
Here are some fun facts about Bethpage and the credit union industry for each decade of our history.
DECADE 1 | 1941-1951
As part of the U.S. war effort during World War II, credit unions sold 12 million war bonds with a purchase price of $404 million in 1945 — that equals more than $5.7 billion in 2018 dollars.*
DECADE 2 | 1951-1961
President Roosevelt signed the Federal Credit Union Act in 1934 to promote thriftiness and prevent usury during the Great Depression. Credit Unions became increasingly popular throughout the 1940s and 1950s. By the end of 1960, there were 9,905 federal credit unions with 6.1 million members and $2.7 billion in assets.*
DECADE 3 | 1961-1971
In 1970, Congress created
the National Credit Union
Administration (NCUA)
as an independent agency
to charter and supervise
federal credit unions.
The National Credit Union
Share Insurance Fund was
also formed to insure share
deposits at federally insured
credit unions.*
DECADE 4 | 1971- 1981
In 1979, Bethpage installs
the first drive-up ATM, on
Long Island. Today, our
members can access their
accounts at over 30,000
surcharge-free CO-OP
network ATMs nationwide.
DECADE 5 | 1981-1991
In 1988, the ribbon cutting of the
current headquarters at
899 South Oyster Bay Road
in Bethpage was held.
DECADE 6 | 1991-2001
In May of 1990, Bethpage
expanded its Charter
to become a multiple
common bond credit
union. Over the next ten
years, Bethpage adds
ten more companies
to its Charter.
DECADE 7 | 2001-2011
In 2003, Bethpage was
approved for the largest
federal community charter
in the US, opening up
membership to all Long
Islanders.
DECADE 8 | 2011-2021
Bethpage Federal Credit
Union acquired NYCbased
Montauk Credit
Union and its open
charter in 2016, making
membership at Bethpage
available to everyone
across the country.
Milestones & Accomplishments
As we celebrate our first 80 years and build towards the next 80, we’d like to share with you how far we’ve come together.
Awards & Accolades
Evolution of the Bethpage Name
Since we first opened our doors in 1941, we have changed our name a few times, we’ve moved locations, and we’ve expanded from serving only Grumman employees to a select group of Long Island-based companies, to everyone in the US. One thing that has remained constant is our commitment to our members!
Important update to keep your accounts secure.
Email will no longer be an option to receive verification codes for online banking.
To keep your accounts and personal information secure, Bethpage uses a security measure known as multi-factor authentication (MFA) to verify who you are when you log in to Digital Banking from a new device or perform certain transactions. To enhance the security of your account, we will no longer offer email as an option to retrieve your verification code. We will continue to offer text and phone verification through your mobile device or home phone. In preparation for this update, please ensure that your contact information is current and correct within our system.
Easily send and receive money with Zelle®!
It’s fast. It’s safe. It’s convenient!
Skip the ATM or take the guesswork out of splitting the lunch tab by using your mobile banking app to send and receive money with Zelle®. Funds are sent directly to the recipient’s account in a matter of minutes[3], and all you need is the recipient’s email address or U.S. mobile phone number. Zelle® is a fast, safe and easy way to send and request money.
Send
Send money fast in just a few steps.
Request
Settle up with roommates, friends and more, regardless of where they bank[4].
Split
Easily divide the cost of the check for dinner, coffee and more.
Bethpage Difference Makers.
The Bethpage Difference Makers program was designed to empower young people to come together and become more involved by linking their passions with the needs of local communities. Difference Makers invests in our children with empowerment grants to be used for special projects to make positive change in the areas we serve.
Ben and Aidan Ellis requested grant money in hopes of installing a butterfly garden that can be turned into a bench in the winter when the plants become dormant.
With help from the Difference Makers grant and collaboration with the non-profit organization North Shore Land Alliance, Ben and Aidan were able to successfully install the butterfly garden and planter/bench at Wawapek Preserve located in Cold Spring Harbor. Ben and Aidan worked together with a designer and others to create the stainless-steel laser-cut decal on the planter. Ben and Aidan purchased necessary supplies for the project including hardware for the message to be applied to the planter, plants, soil, weed fabric, decorative rocks, etc. Ben and Aidan have a butterfly garden of their own in front of their house with all native Long Island plants. Ben shared that as Long Island has developed over time, much of the native plants’ habitats have been replaced by communities. Ben’s passion is for native pollinators to have a home, which he brought to life through his Difference Markers project.
These results and passionate individuals are the exact reason Bethpage created the Difference Makers program! Our hope is to inspire others to effect positive change in their communities, too. If you know an ambitious child or youth group looking for financial support to bring their big ideas to life, visit lovebethpage.com/differencemakers for more information or to apply for a grant!
13th Annual Bethpage Turkey Drive
Friday, November 19
7:30 AM – 4:00 PM
Bethpage Branch
899 S. Oyster Bay Road
Bethpage, NY 11714
Join us for the 13th Annual Bethpage Turkey Drive! We will gratefully accept frozen turkeys, non-perishable food items, and monetary donations. These donations will go directly to Island Harvest, which will then help supply Thanksgiving meals to families in our community.
Due to the pandemic, we ask that you remain in your vehicles, and keep all donations in your trunk so that our volunteers can easily and safely access them with minimal contact. Additionally, beginning in November, we will provide an option for online giving! Check our social media channels for details.