A Strong Credit Union Built by Members
As one of Long Island’s leading credit unions, NEFCU is pleased to offer affordable banking services to the Long Island community. At NEFCU, you’ll find all of the same services you get at your local “big bank” but with better rates and lower fees, they simply cannot match! And, unlike banks who exist for their stockholders, NEFCU is designed exclusively for their members and their families. That’s why their members’ financial needs and goals are their top priority and they work hard to stay true to their mission to “provide high-value financial products and exceptional service that enable their members to build financial success.”
They invite you to learn more about their organization and how they can help you build your financial future.NEFCU has a rich history of “providing high-value financial products and exceptional services that enable our members to build financial success.” While this is their mission statement now, it has also been their guiding force since the very beginning.
On April 28, 1938, a group of school employees joined together to form the Valley Stream Teachers Federal Credit Union. This financial cooperative made it possible for school employees to pool their savings and to borrow from one another. The mission was simply to develop a mechanism by which employees’ financial needs could be met. And while they changed their name to NEFCU in 1981, many things have changed in those ensuing years in addition to their name. They moved from one location to another in Valley Stream. They also opened additional branches and joined with other Long Island Credit Unions in the CU Service Center shared branching concept to bring members even more locations. Their products have also developed to be more robust and tailored to the unique needs of their growing membership.
Their field of membership initially included employees of Nassau County schools, colleges, and universities, public libraries, other affiliated groups, their families, and retirees, but it has expanded through the years to include a range of professionals — teachers, lawyers, doctors, dentists, accountants, engineers, and more along with their support staffs and families. In 2010, they applied for and were expeditiously granted a community charter, which means that NEFCU broadened its field of membership to serve Nassau and Suffolk Counties. This expansion now allows them to offer Long Islanders the tremendous value and unparalleled benefits that have made them one of the largest credit unions in the region. In 2012, they opened their first Suffolk County location and continue their expansion in both Suffolk and Nassau counties today.
To meet the needs of their growing membership, they’ve always emphasized convenience, value, and service. As a result, they now offer a full range of quality personal financial products — such as Checking and Money Market accounts, IRAs, Credit Cards, Home Equity Loans, and Mortgages — as well as leading-edge conveniences including surcharge-free ATM access, Direct Deposit, and FREE Online Banking with Bill Payment and Mobile Banking. They also expanded their breadth of products and services to include business deposit and lending services and are proud to offer a full and complementary array of business services that rivals any commercial bank around.
NEFCU is also proud of the work they have done, and continue to do in building stronger communities. In 2012, as Hurricane Sandy devastated Long Island, they were there to support their members and their families through this difficult time. They provided $50 million dollars in low-cost loans to assist in the rebuilding of their communities, and donated $20,000 to Long Island Cares Hurricane Sandy Relief Fund. They continue to remain active in sponsoring a myriad of cultural, ethnic and family events throughout Long Island, such as programs that aid local military families, the Special Olympics and Muscular Dystrophy Association and more. They also offer a comprehensive Scholarship and Grant program that has awarded over $1 million in funding for higher education.
The future promises to be an exciting one for NEFCU and they hope you will avail yourself of all that their credit union has to offer. To join or connect with the NEFCU, Click Here!
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