Please excuse the streamers, confetti and balloons, Suffolk Federal Credit Union is doing a lot of celebrating these days.
The Medford, N.Y.-based CU is loving 2017, as not only will it be marking its 50th anniversary in June, it recently topped the $1 billion mark in assets.
The credit union’s board and management team attributed joining the $1 billion club to, “An emphasis on membership and a successful expansion strategy that strengthens the community and has transformed Suffolk Federal into a leading financial institution,” they said in a statement.
“This is a very important milestone in our history,” said Ralph D. Spencer, Jr., president and CEO. “Suffolk Federal continues to fulfill our mission and grow each year thanks to the focus of our leadership, incredible trust from our growing membership, and the everyday efforts and service from our employees, our board of directors, supervisory committee and other volunteers.
“We are committed to and understand that each member has a personal vision of financial success,” Spencer continued. “Suffolk Federal’s goal is to be a positive partner who provides high quality products, exceptional services, fosters strong community relationships and who makes a difference in the lives and businesses of our members.”
Suffolk Federal said it will mark its 50th anniversary with “an array of fun-filled and spectacular festivities.” Among the activities planned is a 50th Anniversary Celebration on June 17 at Suffolk Federal’s corporate headquarters and the Medford Branch, and a “Celebrate & Do Good” promotion that will take place over nine months at each of Suffolk’s local branches. The promotion will benefit Long Island Cares and the Harry Chapin Food Bank.
Suffolk Federal was chartered in 1967 and today serves more than 55,000 members. Membership is open to anyone who lives, works, worships, attends school or regularly conducts business in Suffolk County, N.Y., as well as immediate family members of current membership.