NCUA Ends Montauk CU Conservatorship (Montauk Merged Into Bethpage Fed'l CU)

alan1 | Apr 1, 2016 | 881 posts since 2015

Merger was announced by NCUA on March 31. https://www.ncua.gov/newsroom/Pag...merger.asp

According to the NCUA, the closing of Montauk is in the category of "Merged without NCUA Assistance." https://www.ncua.gov/services/Pag...s/2016.asp

I went to the (former) Montauk branch and spoke with a Bethpage officer. I was told that Bethpage will continue to pay the existing rates on Montauk's CDs through maturity; I was also told that Bethpage will be sending a letter to Montauk members which will include the continuation of the rates on existing Montauk CDs.

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