Bethpage FCU's 25-month CD Is Available Nationwide

POSTED ON BY

Deal Summary: 25-month Certificate (1.75% APY), $50 minimum deposit.

Availability: Easy membership requirement

Last week, Bethpage Federal Credit Union (Bethpage) added a 25-month Certificate (1.75% APY). The minimum opening deposit is a low $50, with no stated balance cap.

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.75%$50-Bethpage Federal Credit Union25 Month Certificate
1.75%$50-Bethpage Federal Credit Union25 Month IRA (Traditional, Roth)
Accounts mentioned in this post. Rates as of September 22, 2017.

The 25-month Certificate is also offered as an IRA (Traditional and Roth), earning the same APY with the same funding requirements.

As stated in Bethpage’s Membership Account Information booklet, the Early Withdrawal Penalty (EWP) reads as follows:

For certificate accounts with a term of more than one year, withdrawals made prior to maturity are subject to an early withdrawal penalty equal to one hundred eighty (180) days’ interest at the dividend rate and forfeiture of any dividends accrued but not yet credited to the account on the amount withdrawn.

Given the mild impact of the EWP on its long-term CDs, the 2.25% APY of Bethpage’s 60-month Certificate becomes more attractive. Using DA’s EWP Calculator, you can see that the effective yields for 2 and 3 years are 1.70% APY and 1.89% APY, respectively.

Availability

When I last wrote about Bethpage Federal Credit Union’s field of membership (FOM) was restricted to residents of New York’s Nassau County and portions of Suffolk County. That changed in March 2016 when everyone became membership-eligible “by simply opening a $5 savings account.”

Joining Bethpage and/or opening a CD can be done online, by telephone (1.800.628.7070), or in person at any of 34 New York branches located on the western half of Long Island.

Following the expansion of its FOM, Bethpage opened a branch in Manhattan, situated in the Flower District on West 26th Street.

Credit Union Overview

Bethpage Federal Credit Union has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 11.52% (above average), based on December 31, 2016 data. In the past year, Bethpage increased its total deposit by $523.02 million, an excellent annual growth rate of 9.38%. Please refer to our financial overview of Bethpage Federal Credit Union (NCUA Charter # 4735) for more details.

Originally chartered in 1941, Bethpage Federal Credit Union has grown to become the largest credit union in New York State and the 16th largest credit union in the nation, with over 311,200 members and assets in excess of $6.9 billion. After 62 years of service to the employees of Long Island's largest organizations, Bethpage began serving all Long Islanders after a community charter application was unanimously approved in September 2003. Thirteen years later, Bethpage acquired Montauk Credit Union and announced that,

As of March 31, 2016, membership is open, and
anyone can bank with Bethpage Federal Credit Union.

.

Literally minutes after I decided to write about the 25-month CD Special, I received a notification from CreditUnionTimes concerning Bethpage’s decision to merge with Northwell Health FCU.

New York’s largest credit union by assets, the $6.8 billion Bethpage Federal Credit Union, said Friday it will merge with the $118 million Northwell Health Federal Credit Union, which serves the Empire State’s largest health care system and the state’s largest private employer.

How the CD Special Compares

When compared to the 195 similar length-of-term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available nationwide, Bethpage Federal Credit Union’s 25-month Certificate APY currently ranks third.

The above rates are accurate as of 5/22/2017.

To look for the best CD rates, both nationwide and state specific, please refer to our CD rates table, or our Rates Map page.

Related Pages: New York CD rates, 1-year CD rates, nationwide deals

Comments
hank
hank   |     |   Comment #1
I got into this credit union after I joined Montauk cu for a 2.5 percent 5 year cd. Montauk had serious problems because of all their taxi medallion loans and they ultimately got merged into Bethpage. At that time, Bethpage took over Montauk's single branch in Manhattan
Ann
Ann   |     |   Comment #2
I thought I remembered Bethpage acquiring some of the taxi-troubled CUs... yep: http://creditunionwatch.blogspot.com/2017/05/bad-taxi-medallion-loans-and-new-york.html
I don't know how significant that is, if at all.
Bethpage FCU Expanding Its FOM after Montauk Credit Union Merger

Last week Montauk Credit Union was merged into Bethpage Federal Credit Union. Montauk made news last year as one of the New York credit unions impacted by the declining NYC taxi industry. The credit union was placed into conservatorship last September due to its "unsafe and unsound practices". This was a merger without NCUA assistance which is one of the most favorable outcomes that can happen after a credit union is placed into a conservatorship. Montauk members won’t lose any of their deposits and their existing CDs should be unaffected.

Continue Reading
Bethpage Federal CU (NY) Boosts The Rate On 22-Month CD
Availability: All of Nassau County, New York, and portions of Suffolk County, New York

Last summer, Long Island's (New York) Bethpage Federal Credit Union (Bethpage) offered a 22-month CD Special (1.50% APY) that lasted through early December, when the APY dropped to 0.35% APY.

Over the weekend, Bethpage revived the 22-month CD by restoring the 1.50% APY. The minimum opening deposit is a low $50, with no maximum balance cap.

As stated in Bethpage’s Membership Account Information booklet, the Early Withdrawal Penalty reads as follows:

Continue Reading
Expired: Bethpage FCU Offers $100 Bonus When Opening A Bonus Checking Account

Update 6/22/15: This promotion has ended.

Long Island's (NY) Bethpage Federal Credit Union (Bethpage FCU) has a $100 bonus promotion when opening a new Bonus Checking (1.00% APY) account with direct deposit.

Unlike many financial institutions that offer a variety of checking accounts, each with various requirements that must be met, Bethpage FCU has the one and only Bonus Checking account. To quote the credit union’s web page:

At Bethpage, we keep checking simple. One account for everyone with no hidden charges.

The Bonus Checking account has no monthly...

Continue Reading
Bethpage Federal CU's Summer 22-month CD Special Still Available

Bethpage Federal Credit Union (New York) celebrated the start of summer with a 22-month CD (1.50% APY). This minimum opening deposit for this 22-month CD is $50 and there is no maximum balance cap.

As stated in Bethpage Federal Credit Union’s Disclosure Booklet, the Early Withdrawal Penalty is as follows:

The original end date for this rate and term was September 31, 2014, but the offer has been continued. According to a helpful CSR, there is no "official" end date at this point, so the rate and term are guaranteed...

Continue Reading
Reward Checking Account Bonus at Bethpage FCU in Parts of NY

You can often find sign-up bonuses on checking accounts that pay no interest and have monthly fees. Sign-up bonuses for free interest checking accounts are much less common. That's what makes the checking account bonus at Bethpage Federal Credit Union a good deal. You can earn $100 when you open the credit union’s Bonus Checking account and you trade in your debit card or unused checks from another financial institution. This offer is scheduled to last through 12/31/2013. Details are listed in the credit union’s Bonus Checking page.

Continue Reading

More Past Offers