Bethpage Federal Credit Union created a new division that will stretch across Nassau and Suffolk counties in New York to help small businesses launch and grow.
The Bethpage Business Banking Group will focus on key segments including the healthcare and medical arena, professional service firms, wholesalers and distributors, and non-for-profit organizations, according to the $5.4 billion in Bethpage, N.Y.
The group, headed by Lawrence S. Jones, Bethpage FCU vice president of commercial lending, is comprised of three teams of experts. They will work in the credit union's branches across Long Island to educate business members about the cooperative's deposit, loan and cash management products and services, Bethpage FCU said.
Since Jones joined Bethpage FCU in 2008, its commercial real estate portfolio has grown to $525 million, the credit union said. The financial institution's business banking portfolio has more than 5,000 existing business accounts and $230 million in deposits.
Jones said the group recruited experienced business bankers from some of the region's leading banks including Capital One, Citibank and People's United.
“It's vital that Long Island businesses have more access to capital, which will be the impetus for growth. For Bethpage, this means funding loans to support small business growth, aid in expansion and stimulate the economy,” said Kirk Kordeleski, president/CEO of Bethpage FCU.
The credit union has been an ardent supporter of Long Island's business community. For the past three years, it has conducted its annual Bethpage Long Island Small Business Survey, which includes feedback from local businesses speaking about topics and issues that impact their business practices.
The announcement of the new business banking group came one day before Bethpage FCU was scheduled to release the results of its latest small business survey.
Last year, Kordeleski was appointed chairman of the business and civic organization, Long Island Association. In this role, he worked with Long Island businesses, communities and regional initiatives.
Kordeleski previously served on Ed Mangano's Business/Economic Development Group, and currently sits on the Council of Advisors for the Community Development Corporation of Long Island.
Bethpage FCU also partners with the Long Island Press for its annual “Best of Long Island” Awards, helping Long Island businesses gain valuable exposure and celebrate their success in the Long Island community, the credit union said.
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