Bethpage Federal Credit Union

Overview / Commentary
899 S Oyster Bay Rd
Bethpage, NY 11714-1030

First founded for the benefit of Grumman Aircraft Engineering Corporation’s employees in 1941, Bethpage Federal Credit Union has grown to become one of the largest credit unions in the Northeast. Still headquartered in Bethpage, New York, Bethpage FCU has opened its field of membership to anyone who opens a savings account. Although its branch locations are all in Long Island or New York City, Bethpage FCU’s co-op network includes Shared Service Centers nationwide. It is also able to serve its nationwide membership through convenient online and mobile banking options.

In addition to its required regular savings accounts, Bethpage FCU offers a variety of personal deposit accounts, including savings accounts for children, young adults, and special purposes. Its free checking accounts feature free online and mobile banking, free online bill pay, and free mobile check deposit, as well as a free debit card.

Bethpage’s money market accounts yield tiered interest rates, depending on how much money is in the account. Terms for Bethpage’s Certificates of Deposit (CDs) range from 6 to 60 months, with a very low minimum initial deposit. Also, at the time of this writing, the credit union offers a 39-month bump-up certificate – which includes the one-time possibility of increasing the interest rate during the certificate’s term. Bethpage also provides a “Certificate Portfolio,” which helps members to create their own “CD ladder,” in which funds are deposited simultaneously into multiple CDs with increasing term lengths, in order to provide ready access to a portion of the funds as each CD matures. As for Individual Retirement Accounts (IRAs), Bethpage offers both traditional and Roth IRA CDs with very low minimum initial deposits. The terms for these IRA CDs also range from 6 to 60 months.

Bethpage FCU also offers a range of business depository banking products, including business checking accounts, business savings accounts, business CDs, and business money market accounts. The business savings account can be used as an overdraft protection measure for a business checking account. Business CD terms range from 3 to 60 months, and Bethpage allows businesses to use funds in these certificate accounts as collateral for loans. Finally, Bethpage’s business money market accounts have three dividend tiers, depending upon the account balance.

Field of Membership Restrictions

Membership in Bethpage Federal Credit Union is open to anyone through opening a $5 savings account.
See current membership details

Great institution outdated online banking

I have been banking at Bethpage Federal Credit Union for over 15 years. My experience at the credit union is that the customer service is excellent and all of the employees are willing to help. Their rates are extremely competitive from deposit rates to mortgage rates. I could not find better mortgage rates through one of the big banks. If there is one thing I would change it would be the online banking. The online banking is very antiquated and not as advanced as some of the bigger banks such as Chase and TD Bank. It takes some getting used to to navigate the online banking but once you get the hang of it its not too bad. The credit union also has no ATM fees from the credit union when using an ATM that is not the credit unions. For example if I were to use my ATM card at a chase ATM, I would only be charged the Chase fee and not the credit union fee.

Knowledgeable and Caring

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I have trusted my money to Bethpage Federal Credit Union for a number of years now without any incident or worry. I first approached my local branch not knowing very much about investing; the employees were friendly, not intimidating, and knowledgeable. They answered all of the questions I had and helped me open several accounts that made sense for me. Their rates are competitive, and I ended up opening a CD with the option to upgrade (once) to a higher rate if/when it became available. I feel secure and well taken care of by Bethpage.

high interest

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Bethpage credit union has a competitive interest rate. That is the only reason I even joined up with them after previously being with TD Bank. TD Bank gave around .01 interest whereas Bethpage was giving 1%
I would be getting the interest every month at the end of the month but they gave me so many issues the first month. I would be asking them if I am going to receive the money and they kept giving me conflicting answers. It was very frustrating but in the end I did get the interest and i have been getting the interest ever since then. Their app is okay but it can be a bit glitchy. The app is better used with mint or something else. overall it is good if you want better interest than typical banks

Bethpage FCU - Poor Customer Service

Posted by: |

I have been dealing with Bethpage FCU for more than 6 weeks to try to resolve an issue. I fax and email them documents they claim they never receive, although I have receipts for all that I sent. I ask them to call, fax, email a response and I never hear back from them. Each time I call to get an update I am told that they sent a response, but I never have received a call, fax or email (I have even checked my junk mail). And no one can talk to anyone in that department directly. Information must be relayed through another department. I only want to send them what they want, but they never tell me what they want. It is a constant game of cat-and-mouse trying to get any information from them.



Health Grade Components

NCUA #4735
Year Chartered1941
Primary Regulator
Profit Margin
Return on Assets - YTD0.23%
Return on Equity - YTD2.7%
Annual Interest Income$160.5MM
Assets and Liabilities
AssetsQ2 2020vs Q2 2019$9.97B$8.90B
LoansQ2 2020vs Q2 2019$6.67B$6.23B
DepositsQ2 2020vs Q2 2019$8.85B$7.75B
Equity CapitalQ2 2020vs Q2 2019$843.0MM$747.7MM
Loan Loss AllowanceQ2 2020vs Q2 2019$85.4MM$54.9MM
Unbacked Noncurrent LoansQ2 2020vs Q2 2019$140.8MM$72.6MM
Real Estate OwnedQ2 2020vs Q2 2019$666.00K$1.5MM
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Bethpage Federal Credit Union Savings Account Rates

2.00%*$5$1kYouth Savings Account
OTHER TIERS: 0.35% $1k+
0.20%$5-Savings Accounts
0.20%$5-Business Savings Accounts

Bethpage Federal Credit Union Money Market Rates

0.50%$500-Money Market Account
0.50%$1-IRA Money Market
0.50%$500-Business Money Market Account

Bethpage Federal Credit Union Checking Account Rates

0.50%--Bonus Checking - Qualifying
0.50%--IOLA Checking
0.50%--Young Adult Checking
0.20%--Business Free Checking with Interest
0.10%$2.5k-Student Checking

Bethpage Federal Credit Union CD Rates

1.05%$50-60 Month Certificate
1.05%$50-Business 60 Month Certificate
0.95%$50-48 Month Certificate
0.95%$50-Business 48 Month Certificate
0.85%$50-30 Month Certificate
0.85%$50-36 Month Certificate
0.85%$50-39 Month "Bump Up" CD
0.85%$50-Business 30 Month Certificate
0.85%$50-Business 36 Month Certificate
0.85%$50-Business 39 Month "Bump Up" CD
0.75%$50-24 Month Certificate
0.75%$50-Business 24 Month Certificate
0.55%$50-12 Month Certificate
0.55%$50-18 Month Certificate
0.55%$50-Business 12 Month Certificate
0.55%$50-Business 18 Month Certificate
0.50%$50-3 Month Certificate
0.50%$50-6 Month Certificate
0.50%$50-Business 3 Month Certificate
0.50%$50-Business 6 Month Certificate

Bethpage Federal Credit Union IRA Rates

1.05%$50-60 Month IRA
0.95%$50-48 Month IRA
0.85%$50-30 Month IRA
0.85%$50-36 Month IRA
0.75%$50-24 Month IRA
0.55%$50-12 Month IRA
0.55%$50-18 Month IRA
0.50%$50-3 Month IRA
0.50%$50-6 Month IRA


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