As one of Long Island’s leading credit unions, we are pleased to offer affordable banking services to the Long Island community. At NEFCU, you’ll find all of the same services you get at your local “big bank” but with better rates and lower fees they simply cannot match!
And, unlike banks who exist for their stockholders, NEFCU is designed exclusively for our members and their families. That’s why our members’ financial needs and goals are our top priority and we work hard to stay true to our mission to “provide high value financial products and exceptional service that enable our members to build financial success.”
We invite you to learn more about our organization and how we can help you build your financial future.
NEFCU has a rich history of “providing high-value financial products and exceptional services that enable our members to build financial success.” While this is our mission statement now, it has also been our guiding force since the very beginning.
On April 28, 1938, a group of school employees joined together to form the Valley Stream Teachers Federal Credit Union. This financial cooperative made it possible for school employees to pool their savings and to borrow from one another. The mission was simply to develop a mechanism by which employees’ financial needs could be met.
And while we changed our name to NEFCU in 1981, many things have changed in those ensuing years in addition to our name. We moved from one location to another in Valley Stream. We opened additional branches and joined with other Long Island Credit Unions in the CU Service Center shared branching concept to bring members even more locations. Our products have also developed to be more robust and tailored to the unique needs of our growing membership.
Our field of membership initially included employees of Nassau County schools, colleges and universities, public libraries, other affiliated groups, their families and retirees, but it has expanded through the years to include a range of professionals — teachers, lawyers, doctors, dentists, accountants, engineers, and more along with their support staffs and families.
In 2010, we applied for and were expeditiously granted a community charter, which means that NEFCU broadened its field of membership to serve Nassau and Suffolk Counties. This expansion now allows us to offer Long Islanders the tremendous value and unparalleled benefits that has made us one of the largest credit unions in the region. In 2012, we opened our first Suffolk County location and continue our expansion in both Suffolk and Nassau counties today.
To meet the needs of our growing membership, we’ve always emphasized convenience, value and service. As a result, we now offer a full range of quality personal financial products — such as Checking and Money Market accounts, IRAs, Credit Cards, Home Equity Loans and Mortgages — as well as leading-edge conveniences including surcharge-free ATM access, Direct Deposit and FREE Online Banking with Bill Payment and Mobile Banking. We also expanded our breadth of products and services to include business deposit and lending services and are proud to offer a full and complementary array of business services that rivals any commercial bank around.
NEFCU is also proud of the work we have done, and continue to do in building stronger communities. In 2012, as Hurricane Sandy devastated Long Island, we were there to support our members and their families through this difficult time. We provided $50 million dollars in low cost loans to assist in the rebuilding of our communities, and donated $20,000 to Long Island Cares Hurricane Sandy Relief Fund. We continue to remain active in sponsoring a myriad of cultural, ethnic and family events throughout Long Island, such as programs that aid local military families, the Special Olympics and Muscular Dystrophy Association and more. We also offer a comprehensive Scholarship and Grant program that has awarded over $1 million in funding for higher education.
The future promises to be an exciting one for NEFCU and we hope you will avail yourself of all that our credit union has to offer.