New York's largest credit union by assets, the $6.8 billion Bethpage Federal Credit Union, said Friday it will merge with the $118 million Northwell Health Federal Credit Union, which serves the Empire State's largest health care system and the state's largest private employer.
However, Northwell Health FCU lost $2 million last year because of several taxi medallion participation loans, according to Bethpage. What's more, Northwell Health FCU President/CEO JoAnn Doyle stepped down Friday after nearly 29 years of service at the Jericho-based credit union.
In March 2016, Bethpage FCU merged the Montauk Credit Union, which was placed into conservatorship because of its financially troubled taxi medallion loan portfolio.
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