Jovia Financial Credit Union is headquartered in Westbury and is the 9th largest credit union in the state of New York. It is also the 90th largest credit union in the nation. It was established in 1938 and as of December of 2021, it had grown to 435 employees and 206,572 members at 20 locations. Jovia Financial Credit Union's money market rates are 59% higher than the national average, and it has a B+ health rating.
Field of Membership Restrictions
Jovia Financial Credit Union is open to anyone who lives, works, or goes to school in Nassau or Suffolk County (excludes the townships of East Hampton, Southampton, and Shelter Island). Immediate family and household members of existing credit union members also qualify.
See current membership details
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NEFCU is terrific
I joined NEFCU when I began my first job in the public school system on Long Island, NY over 25 years ago. Every thing I needed was available through the credit union. Easy applications for credit cards, car loans, mortgages, were right at my finger tips. If I had a question there was always a live person to speak to either by phone or chat on the site. NEFCU also provided me with a free checking account and a competitive rate for my savings account. This is a great bonus to being part of the education system.
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.
Review of Nassau Educators Federal Credit Union
As a customer of over 5 years, I have not endured a painful experience. Every encounter I have had with tellers, or any staff have always been very helpful and knowledgeable. They are very lenient and understanding when it comes to accidental overdrafts. One time, one of my checks did not finish clearing, and I tried to withdraw money with my ATM card. It overdrew, and the fee was waived when I explained the situation. They really seem to care about their clients.
Used To Be A Good Credit Union Until They Tanked Their Interest Rate
Have been a long time member since they were known as NEFCU. Unfortunately, their RCA is no longer competitive paying a measly 1.50% while maintining the same requirements - $250 debit spend, bill pay, estatements. Will be switching to a more competitive bank or credit union that pays a minimum of 3%.
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 as of Q4 2021
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 2760 |
| Year Chartered | 1938 |
| Employees | 435 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.58% |
| Return on Equity - YTD | 6.78% |
| Annual Interest Income | $113.8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2021vs Q4 2020 | $3.96B$3.75B |
| Loans | Q4 2021vs Q4 2020 | $2.84B$2.96B |
| Deposits | Q4 2021vs Q4 2020 | $3.58B$3.38B |
| Equity Capital | Q4 2021vs Q4 2020 | $337.8MM$332.5MM |
| Loan Loss Allowance | Q4 2021vs Q4 2020 | $29.3MM$24.8MM |
| Unbacked Noncurrent Loans | Q4 2021vs Q4 2020 | $50.0MM$43.1MM |
| Real Estate Owned | Q4 2021vs Q4 2020 | $0$0 |
