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First credit union in decades comes to Oyster Bay

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The grand opening of the Oyster Bay branch of the Nassau Financial Federal Credit Union saw roughly 50 people, including members of the company and town officials gather into its lobby in Oyster Bay. The sole credit union in the hamlet, CEO John DeCelle and Charisma Vega, the branch manager, said they hope to not only provide the community with smart and effective banking options, but also to increase “financial literacy,” helping residents learn how to most effectively manage their finances.

During the ribbon cutting ceremony, DeCelle said the branch opening was almost like coming home, since Nassau Financial merged with the Oyster Bay Credit Union in 1993. “We have a long history with the town and town employees,” he said. “We’re just super excited to be next door and across the street.”

Nassau Financial occupies the bottom floor of 50 Audrey Ave. in downtown Oyster Bay next to Town Hall. Inside the credit union’s lobby, which is brightly colored, is a small waiting area, three ATMs and televisions that give it a very modern look. There are five offices for individual client meetings, a help desk and a conference room for larger work sessions.

Town Councilwoman Vicki Walsh said she is excited to have a bank in the hamlet’s downtown that people can just walk into instead of having to go through a drive thru ATM. She particularly believes it will benefit teenagers who may need to pick up a quick $20 while walking through the area after school. If they have money to spend, she said, teens would be able to shop locally.

Nassau Financial also has a coin-counting machine, something that Walsh said young people would often use. She hopes to connect the credit union with local PTAs so branch representatives can teach parents about how to help their children manage money.