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Northern Federal Credit Union

Popular Accounts at this Credit Union

1.01%Reward CheckingChoice Rewards Checking
0.20%SavingsTeen V.I.P. Savings
0.25%Money MarketMoney Market

Overview / Commentary
138 Factory St
Watertown, NY 13601-1958

Northern Federal Credit Union is headquartered in Watertown and is the 48th largest credit union in the state of New York. It is also the 904th largest credit union in the nation. It was established in 1955 and as of June of 2016, it had grown to 89 employees and 29,133 members at 8 locations. Northern Federal Credit Union has a B health rating.

Field of Membership Restrictions

Membership is open to those who live, work, worship, attend school, or regularly conduct business in efferson County, Lewis County, or one of the following towns in St. Lawrence County; Canton, Clare, Clifton, Colton, De Kalb, DePeyster, Edwards, Fine, Fowler, Gouverneur, Hammond, Hermon, Hopkinton, Lawrence, Macomb, Piercefield, Pitcairn and Rossie. Membership is also open to employees of one of the Select Employer Group.
See current membership details

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Reviews (5)

Northern Federal Credit Union - Premium Choice Checking ; Top Tier Rate Dropped From 4.26% To 3.76%

Posted by: Stewie | Apr 1, 2011

 From the website, 0.5% drop accross the board, effective April 1st.....No Joke.......Not even funny!

3.76% APY* on balances up to $25,000 - (Was 4.26%)

0.75% APY* on balances from $25,001 to $50,000 - (Was 1.25%)

0.25% APY* on balances over $50,000 - (Was 0.50%)

Dissatisfied Member Of NFCU

Posted by: Anonymous | Jan 12, 2012

I had multiple issues with my auto loan through Northern Federal Credit Union. Every time I went to have this issue resolved, the women that I spoke with were very rude. I was told "sorry I don't know how to help you" and that was as far as their resolution went until I spoke with a manager. I would like to mention that I have never been late on any account nor I have ever overdrawn an account. This issue was finally resolved 2 years later.

Do Not Do Business With Them

Posted by: tazoop | Oct 19, 2011

I got an account with this bank not long ago and a friend did as well. I have found that they are rude, condescending and supervisors do not return calls. I had multiple problems with Kathy, a supervisor in Adams and tried repeatedly to contact her supervisors and they never bothered returning the calls. The bank obviously does not care about its members.

5 Isolated Incidents Explain Why NFCU Is TERRIBLE

Posted by: thisisk | May 25, 2011

1. Charged a fee twice for less than $5 in my savings account when they shouldn't have because the account is set up for an auto loan.

2. Tried to withdraw $500 from a NFCU ATM using another banks card.  Because there was a charge for this from NFCU and the daily allowed limit is only $500 it wouldn't allow the transaction.  The ATM recorded that I had indeed recieved the money when I actually hadn't.  They blamed it on the other bank but it was their ATMs problem.  They refused to balance their ATM to find the balance was $500 because they only do it once a week; not banking standard by any means.  They would not make an exception.  They did find the $500+ in their ATM balance.

3.  Wouldn't cash a reimbursment check for $10 because it was written on a company Key Bank check.  Said I was a "new" customer, in-fact I've been one for three years.  They said I could deposit it without putting a hold on it first.  I did have money in my account to cover this amount.

4.  Making an auto loan payment with a debit card from another bank with my wifes debit card.  They ran it through and check the name on the card after the transaction.  Then they told me they had to void it out because my name wasn't on the card.My wifes name is on our NFCU account though.  The money was then on-hold at my other ban.

5.  Every time I switch my auto insurance policy I have to bring in paperwork to prove it.  In the most recent case, I provided paperwork directly from my insurance company and they told me it wasnt enough.  I then had to work with their 'headquarters' or an outsouced brance in TEXAS?  Two months had gone by before it got straigtened out and they were charging me $30 extra per month for a policy they bought to protect 'themselves'.  After all this, I recieved a call that everything was fixed.  I asked what my payment would be next month and apparently it would be $20 higher than before even though they had refunded the amount of the additional insurance.  They took another two days to figure this out.

Do Not Bank With This Institution Unless You Enjoy Encountering Problems Every Time You Need

Posted by: Anonymous | May 17, 2010

Do not bank with this institution unless you enjoy encountering problems every time you need information or a document. Do not deal with this institution unless you enjoy banks that add fees and rules after you have an established account. This bank is awful.


Health Grade Components

NCUA #10578
Year Chartered1955
Primary Regulator
Profit Margin
Return on Assets - YTD0.5%
Return on Equity - YTD7.14%
Annual Interest Income$5.0MM
Assets and Liabilities
AssetsQ2 2016vs Q2 2015$227.9MM$218.4MM
LoansQ2 2016vs Q2 2015$198.4MM$182.0MM
DepositsQ2 2016vs Q2 2015$202.5MM$194.5MM
Equity CapitalQ2 2016vs Q2 2015$16.0MM$14.7MM
Loan Loss AllowanceQ2 2016vs Q2 2015$1.8MM$1.6MM
Unbacked Noncurrent LoansQ2 2016vs Q2 2015$1.6MM$1.6MM
Real Estate OwnedQ2 2016vs Q2 2015$442.00K$418.00K
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Northern Federal Credit Union Savings Account Rates

5.00%*-$500NEXT eSavings
OTHER TIERS: 0.10% $500+
0.50%*$5k*$10kEasy Savings Account
OTHER TIERS: 0.05% $10k+ | 0.10% Up to $500 | 0.25% $500 - $2,500 | 0.35% $2,500 - $5k
0.30%*$50k*-High Yield Savings
OTHER TIERS: 0.10% Up to $25k | 0.25% $25k - $50k
0.25%*$5k*-Health Savings Account
OTHER TIERS: 0.10% $1k - $5k
0.20%*$25k*-Basic Savings
OTHER TIERS: 0.10% $50 - $5k | 0.15% $5k - $25k
0.20%*$25k*-Club Account
OTHER TIERS: 0.10% $50 - $5k | 0.15% $5k - $25k
0.20%*$25k*-Smart S.T.A.R.T. Savings
OTHER TIERS: 0.10% $50 - $5k | 0.15% $5k - $25k
0.20%*$25k*-Teen V.I.P. Savings
OTHER TIERS: 0.10% $50 - $5k | 0.15% $5k - $25k

Northern Federal Credit Union Money Market Rates

0.25%*$10k*-Money Market
OTHER TIERS: 0.10% Up to $10k

Northern Federal Credit Union Checking Account Rates

2.26%*-$25kPremium Choice Checking - Qualifying
OTHER TIERS: 0.10% $50k+ | 0.25% $25k - $50k
1.01%*$2k*$15kChoice Rewards Checking - Qualifying
OTHER TIERS: 0.10% $15k+

Northern Federal Credit Union Locations
Branch Office145 E Main StGouverneur, NY 13642-1408
Branch Office10924 US Route 11Adams, NY 13605-3125
Branch Office5801 Number Four RdLowville, NY 13367-3331
Branch Office1180 Commerce Park Dr EWatertown, NY 13601-2277
Branch Office120 Factory StWatertown, NY 13601-1958
Branch Office88 Bridge StCarthage, NY 13619
Branch Office138 Factory StWatertown, NY 13601-1958
Branch Office26424 Johnson RoadEvans Mills, NY 13637