Bethpage Federal Credit Union Reviews

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Updated: 03/22/2024

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About Bethpage Federal Credit Union

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Based in New York, Bethpage Federal Credit Union is available throughout the country. Members can access it online or through virtual appointments. Membership is open to anyone with a $5 deposit. Bethpage provides savings and checking accounts and loans for homes, vehicles and education.

Pros & Cons

Pros

Video appointments
Children and teen accounts available

Cons

In-person branches all in New York
Low APY on general savings account

What is Bethpage Federal Credit Union?

Bethpage Federal Credit Union was founded in 1941 for the employees of Grumman, an aerospace engineering company. Today, membership is available to any U.S. citizen or permanent resident willing to open a $5 savings account. It is a full-service financial institution, meaning you can find everything from savings products to investing options to home, auto and student loans.

A unique aspect of Bethpage is that it offers virtual appointments for those who cannot meet face to face. You can choose to make a phone or video appointment with a representative when you need to open a new account, complete a wire transfer or establish power of attorney.

How does Bethpage Federal Credit Union work?

Opening an account with Bethpage should take about five minutes as long as you have your Social Security number and driver’s license or government-issued ID handy.

You will need to deposit $5 into a Bethpage savings account and keep it there to access all of the credit union’s membership perks.

Bethpage Federal Credit Union products

Bethpage offers multiple accounts and products designed to help you save and earn money with zero to minimal fees.

Savings accounts

Savings accounts only need a $5 balance to stay open. There is only one savings account option for most members, which at the time of publication earns 0.10% APY. There is also a junior savings account that is available for individuals up to 20 years of age. As of this publication, it earns 3% APY for the first $1,000.

Checking accounts

Bethpage offers free checking accounts with no account minimums or maintenance fees. You can also link your account to your digital wallet to pay with your phone.

As of publishing, Bethpage’s checking account balances earn 0.40% APY but require that you enroll in online banking, receive a direct deposit and make at least 10 debit transactions each month, or else the APY drops to 0%.

Youth checking accounts are also available for individuals from 15 to 17. These accounts are fee-free and allow for parent monitoring.

Certificates of deposit

For as little as $50, you can open a certificate of deposit (CD), with a term from three to 12 months. Rates range from 2.25% to 5% APY.

A special 39-month bump-up CD is available, which gives members the option to bump up their interest rate one time if CD rates rise.

Money market accounts

Members can open a money market account with no minimum deposit. There is an APY of 0.10% on balances under $500. Balances over $500 earn 2% APY as of publication.

Bethpage Federal Credit Union fees

While Bethpage does not charge account maintenance fees on its savings and checking accounts, there are some common banking fees to be aware of, including:

$10 or $30 overdraft/insufficient funds fee, depending on payment type
$5 inactive account fee
$5 ATM or debit card replacement fee
$20 to $30 fee for wire transfers

Bethpage Federal Credit Union FAQ

What safety features do Bethpage accounts have?

Bethpage offers members secure sign-in to online banking through fingerprint, face ID or touch ID. It also has a devoted security team to help you identify suspicious texts or emails.

Does Bethpage offer mobile pay?

Yes, you can connect your checking account to your digital wallet and pay wherever Google Pay, Apple Pay or Samsung Pay is accepted.

Does Bethpage offer Zelle?

Yes, Bethpage offers Zelle as a convenient way to send money from your account to other accounts. As with all Zelle accounts, you can only send money to accounts in the U.S.

What are the perks of banking with a credit union instead of a traditional bank?

Because credit unions are not-for-profit institutions, the biggest perk is that credit unions can pass on profit to members through better rates. Members’ accounts are federally insured by the National Credit Union Administration (NCUA) at most credit unions.

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Bethpage Federal Credit Union Company Information

Company Name:: Bethpage Federal Credit Union
Website:: www.bethpagefcu.com