Initial Results from Bethpage/Hofstra “Demographic Shift” Study Shared

(Bethpage, NY) Kirk Kordeleski, President and CEO, Bethpage Federal Credit Union, encouraged nearly 600 Long Island leaders gathered at Hofstra University’s “Celebration of Suburban Diversity 2011″ banquet to “listen, serve, care, and build trust” across the region’s growing diverse populations. Kordeleski’s keynote speech preceded the annual event’s awards ceremony, which was held at the Crest Hollow Country Club in Woodbury, New York on November 17, 2011.

“The support of multicultural diversity is our goal at Bethpage because it helps people, it helps communities and – don’t forget – it helps businesses like ours grow and prosper,” Kordeleski told the gathering. “Simply listen, serve, care, and build trust – and together we can grow and prosper.”

Dedicated to funding diversity-related scholarships and research at the National Center for
Suburban Studies at Hofstra University, the Celebration of Suburban Diversity banquet brought together Long Islanders from across the multicultural spectrum including people from different races, religions and regions, as well as individuals with disabilities and gay and lesbian communities. The evening was dedicated to the idea — and ideal – that Long Islanders can be stronger for their differences if they come together to appreciate them.

As the honored keynote speaker, Kordeleski asserted that credit unions are well positioned to be successful in a diverse and changing economy because of their cooperative structure that can build trust in a diverse community that may not otherwise trust a large financial institution.

Kordeleski also shared initial highlights uncovered from research it sponsored with Hofstra’s National Center for Suburban Studies that was developed to study the demographic shift taking place on Long Island.  “As our company continues to develop and grow into new communities, it’s critical to understand the makeup of the Long Island consumer so we can serve them better and build a lasting relationship based on trust,” said Kirk Kordeleski.  Initial findings show that the critically-important 18-34 year olds living and working on Long Island are changing and becoming more diverse in many ways.  Results showed that since 2000, the white population of 18-34 year olds has decreased by 7%, and is being replaced by Latinos that have expanded by 57%, and the Asian community, which also expanded by an extraordinary 67%.

“As we look to the future of Long Island, initial study results tell us that it is not business as usual,” continued Kordeleski.  “Long Island’s diverse communities have an economic impact way beyond their numbers.  Long Island’s growing minority populations are applying for jobs, raising families, filling schools, and buying homes, and want to turn to partners that are willing to commit and support their needs, providing them with value they can trust for a lifetime.”

In 2008, Bethpage created a focus group of 35 Latino political, community and business leaders who worked with Bethpage over the course of 18 months to provide feedback on strategic ideas, marketing initiatives and products to serve Long Island’s growing Latino communities.  As a result of the program’s great success, Bethpage now has bilingual branch locations in the Latino communities it serves with targeted and dedicated marketing and branch staff to serve members as well as staff throughout its entire organization, including at the management level.  Since the program began, Bethpage has increased its Latino members by 88% and deposits by 64%.

Kordeleski also shared that over the next three years, Bethpage will be devoting a major portion of its growth strategy to building an aggressive policy of diversity within its ranks and develop a deeper understanding of the Hofstra Diversity Study to develop strategic and tactical plans to become an even greater service to Long Island’s growing multicultural community.

“Bethpage Federal Credit Union understands the value of serving all communities on Long Island,” said Lawrence Levy, Executive Dean of The National Center for Suburban Studies at Hofstra University.  “Kirk Kordeleski’s leadership, approach and counsel is a superb example of how we all should view and become involved with the growing diversity of our region’s population.”

Honored for their commitment to social and economic progress at the Celebration of Suburban Diversity banquet were Habeeb Ahmed, Chairman of the Islamic Center of Long Island; the Honorable Peter Cavallaro, Mayor of the Village of Westbury; Helen T. Chin, Co-President of the Chinese Center on Long Island; Constance R. Clark-Snead, Superintendent of the Westbury School District; Dafny J. Irizarry, Founder and President of the Long Island Latino Teachers Association; Cliff Jernigan, Vice Dean of the Hofstra University School of Communication; and Howard S. Maier, Chairman of the Holocaust Memorial & Tolerance Center of Nassau County.

Heading up Long Island’s leading community financial institution, Kordeleski’s main focus for Bethpage is the consumer retail mid-market, including serving the many underserved communities on Long Island.  In 2010, Bethpage opened four new branch locations including a Roosevelt branch, which marked the first time a major financial institution launched in this underserved community in more than 20 years.  Now in its 8th year, Bethpage maintains its annual Volunteer Tax Assistance Program (VITA), offering free tax return assistance for low to moderate-income households at 10 branch locations each year, including Roosevelt and Hempstead.

Since taking the helm at Bethpage in 2000, Kordeleski has served and continues to serve on the Boards of many important nonprofit institutions, including the Long Island Arts Alliance and as Chairman of the board of Directors of Project GRAD Long Island.

He has been honored by institutions and organizations for his regional leadership, including YMCA of Long Island, Adelphi University, United Way, Education and Assistance Corp., The Mentoring Partnership of Long Island, and Promote Long Island, among others.  He is the recipient of the 2011 John O’Neill Humanitarian Award.   In addition to Bethpage consistently named the “Best of Long Island” among credit unions, Kirk has been named for four years running as one of Long Island Business News’ Top 100 Most Influential Long Islanders.

Bethpage Federal Credit Union is a not-for-profit financial cooperative, existing solely to serve its members and has experienced rapid growth in recent years to become a strong alternative to banks.  Bethpage was approved for the largest federal community charter in the U.S. in 2003 and now is Long Island’s largest credit union and leading community financial institution with over 194,000 members, 24 branches and 60 shared service center locations throughout Nassau and Suffolk Counties.   As a financial cooperative, Bethpage offers better rates, lower fees and a full menu of personal and commercial financial services.

Bethpage maintains branch locations in Bay Shore, Bay Shore King Kullen, Bethpage, Central Islip, Commack King Kullen, Elmont, Farmingdale, Freeport, Glen Cove, Hempstead, Huntington, Levittown King Kullen, Lynbrook, Massapequa, Melville, Mineola, North Babylon, Port Jefferson, Riverhead, Seaford, Smithtown, Roosevelt and Westbury with over 350 surcharge-free ATMs in King Kullen, 7-Eleven, Walgreens and Costco locations throughout Long Island.  For more information, call 1-800-628-7070 or visit www.lovebethpage.com.

The National Center for Suburban Studies at Hofstra University is a nonpartisan research institution dedicated to promoting the objective, academically rigorous study of suburbia’s problems, as well as its promise.  Rooted in the laboratory of Long Island’s diverse and aging suburbs, almost literally in the shadows of the iconic Levittown, the National Center will study a broad range of issues from local and national perspectives and, whenever possible, collaborate with researchers at other respected institutions. The suburbs have emerged as the nexus of dynamic demographic, social, economic and environmental change in New York and throughout the United States. The tasks of identifying, analyzing and solving the problems of suburbia are essential for the health of the country–and central to the National Center’s mission.