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1000 Corporate Dr
Westbury, NY 11590

NEFCU is headquartered in Westbury and is the 8th largest credit union in the state of New York. It is also the 71st largest credit union in the nation. It was established in 1938 and as of March of 2014, it had grown to 262 employees and 163,170 members. NEFCU's savings rates are 92% higher than the national average, and it has a B+ health rating.

Field of Membership Restrictions

You are eligible for membership with NEFCU if you: Live, Work, Worship, Attend school or Regularly conduct business in Nassau and/or Suffolk Counties; or if you are sponsored by an immediate family member who already belongs to NEFCU. Membership is not open to individuals who live, work, worship, attend school and do business exclusively in East Hampton, Southampton and Shelter Island. - See Details

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Reviews (2)

Great Credit Union

NEFCU is a credit union that works for its members and provide a great rewards checking account, contests for members, low rate loans, and works on providing new services that provide savings and convenience to members.

Online Banking

The online banking is terrible. Someone tells you you can only do it online, then online says you have to call the bank. I have been trying to set it up, and they say it's so easy. That you can do it from home, but I have to get up and walk a town over and talk to someone in person.


Data for Q1 2014

Institution Health


Texas Ratio


The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 NEFCU had $23.39 million in non-current loans and owned real-estate with $209.26 million in equity and loan loss allowances on hand to cover it. This gives NEFCU a Texas Ratio of 11.18% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for NEFCU experienced no significant changes from 9.63% as of March 31, 2013 to 11.18% as of March 31, 2014, resulting in a negative change of 16.01%. This indicates that the balance sheet and financial strength for NEFCU has had no significant changes in recent periods.

Deposit Growth


In the past year, NEFCU has increased its total deposits by $105 million, resulting in 5.84% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth NEFCU has shown is excellent.



Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. NEFCU has $2.13 billion in assets with $209.26 million in equity, resulting in a capitalization level of 9.84%, which is above average.

Institution Statistics

NCUA #2760
Year Chartered1938
Primary Regulator
Assets and Liabilities
Assets$2.13 billion
Loans$1.51 billion
Deposits$1.90 billion
Equity Capital$198.28 million
Loan Loss Allowance$10.98 million
Unbacked Noncurrent Loans$23.39 million
Real Estate Owned$0
Historic Data - March 2013
Assets$2.02 billion
Equity Capital$192.39 million
Loan Loss Allowance$10.44 million
Unbacked Noncurrent Loans$23.39 million
Real Estate Owned$1.82 million
Profit Margin - Quarterly
Return on Assets0.83%
Return on Equity8.94%
Interest Income$17.95 million

Always verify rates and promotions with the bank or credit union. We are not NEFCU, we are a rate comparison website and can not provide official rates or promotions.

NEFCU Savings Account Rates

1.00%--Dollar Dog Kids Club
1.00%--elements teen share account
0.49%$100-Tuition Builder
0.40%--Savers Dividend
0.30%--Share Account
0.30%--Club Accounts
0.30%--Cornerstone Business Plus Savings

NEFCU Money Market Rates

0.50%$50k-Cornerstone Money Market Account
0.50%$50k-Business Plus Money Market

NEFCU Checking Account Rates

2.53%-$25kGO Green Checking - Qualifying
0.50%--elements teen checking
0.50%--GO Green Checking - Non Qualifying
0.30%--eChecking Account
0.25%$1k-Business Plus Interest Checking
0.25%--Business Plus Non-Profit Checking
0.15%$100k-Simple Checking Account


1.55%$1k-5 Year Certificate
1.55%$1k-5 Year Business Certificate
1.45%$1k-4 Year Certificate
1.45%$1k-4 Year Business Certificate
1.30%$1k-30 Month Bump Certificate
1.25%$1k-3 Year Certificate
1.25%$1k-3 Year Business Certificate
1.05%$1k-20 Month Bump Certificate
1.05%$1k-20 Month Bump Business Certificate
0.90%$1k-2 Year Certificate
0.90%$1k-2 Year Business Certificate
0.65%$1k-15 Month Bump Certificate
0.65%$1k-15 Month Bump Business Certificate
0.60%$1k-1 Year Certificate
0.60%$1k-1 Year Business Certificate
0.50%$1k-6 Month Certificate
0.50%$1k-6 Month Business Certificate
0.30%$1k-3 Month Certificate
0.30%$1k-3 Month Business Certificate


1.55%$500-5 Year IRA
1.45%$500-4 Year IRA
1.25%$500-3 Year IRA
1.05%$500-20 Month Bump IRA Certificate
0.90%$500-2 Year IRA
0.60%$500-1 Year IRA
0.50%$500-6 Month IRA
0.30%$500-3 Month IRA

NEFCU has 11 locations. Click to view all NEFCU locations.