Bethpage Federal Credit Union

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.

Health Grade Components