NEFCU is headquartered in Westbury and is the 8th largest credit union in the state of New York. It is also the 74th largest credit union in the nation. It was established in 1938 and as of March of 2018, it had grown to 342 employees and 184,904 members at 12 locations. NEFCU has an A health rating.
Membership in NEFCU is open to those who live, work, or attend school in Nassau or Suffolk Counties, with the exception of the Villages of East Hampton, Southampton and the Town of Shelter Island.
See current membership details
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.
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.
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.
|Return on Assets - YTD||1.1%|
|Return on Equity - YTD||11.81%|
|Annual Interest Income||$25.5MM|
|Assets and Liabilities|
|Assets||Q1 2018vs Q1 2017||$2.97B$2.66B|
|Loans||Q1 2018vs Q1 2017||$2.37B$2.09B|
|Deposits||Q1 2018vs Q1 2017||$2.66B$2.37B|
|Equity Capital||Q1 2018vs Q1 2017||$272.1MM$252.2MM|
|Loan Loss Allowance||Q1 2018vs Q1 2017||$12.8MM$12.5MM|
|Unbacked Noncurrent Loans||Q1 2018vs Q1 2017||$14.3MM$14.3MM|
|Real Estate Owned||Q1 2018vs Q1 2017||$490.00K$1.3MM|
Rates for NEFCU are currently being reviewed.