Credit Union Reviews

Nassau Educators Federal Credit Union (NEFCU)

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Helpful to 1 out of 1 people

I have a lease through nefcu.  When  I received my first monthly bill it showed the vehicle value as the residue loan amount (34,000). But my true obligation was about 12,500. I called nefcu and the answer was " it's just on paper and that's the way we do it". That was really not a good answer but I figured why make a big deal of it. So fast forward 7 months and I am trying to refi my mortgage. I get my credit report and it showed the value of the vehicle and not my lease obligation. Back to the bank I go and the answer is now "you are obligated to pay us the total value of the vehicle if you get into an accident. Our lawyers say its perfectly legal". If you have to follow up a statement with its perfectly legal it's probably a underhanded business practice you are refuring too. Besides, I thought that's what mandatory insurance was for, with the payee being the bank. Now, because of this "outstanding balance" I do not qualify for a tier I rate . This is costing me 1% more ($100/mo) for the next 20 yrs. I have leased about 12 vehicles in my lifetime and this has been the only lease co to do this. BEWARE!!!

Feb 19, 2014 Reply
Best bank I have dealt with Helpful to 1 out of 1 people

I was struggling a few years ago with some credit card debt and decided to apply for a personal loan. While my credit was not the greatest they were still able to work with me (I believe 650 or so is the score I had) and just needed salary documentation to back up my credit score. I was approved for $12,000. I was super impressed by the loan officer. She was also able to help me refiance my car when Chase wouldnt (even though I had not missed a payment in over 2 years). I would highly recommend them and ask for Maria (westbury location).  

Elisa1840's review was:    

  Jul 29, 2013 Reply

Elisa1840(6, 20)

Review by Elisa1840

6 Contributions 20 People Helped

Greatest Bank w/ Awesome Opportunities

I am twenty-three and have been with this bank since birth. Recently, they changed their system and had a hard patch as they were loosing information and things like that. It is understandable because they were transitioning. I have not one negitive word to say about them otherwise. If you show you are worthy they will take care of you. I have a credit care, two personal loans and two car loans. They have not let me down yet so I am diligent with paying my bills. I have to say, I love my bank! When I am ready to move out of this apartment and into a house, guess who I will go to for the mortgage? That's right, they can and will get all my business.

Oct 09, 2013 Reply
Good Bank, lousy refi

We have been with them for more than 20 years. We have always thought they were great until last year. We began trying to refinance our mortgage (which they hold) last March. They have lost e-mails, documents, been rude, re-requested information already submitted and so on. It has been A YEAR and we still do not even have a closing date.

If we were not so far along at this point I would go elsewhere for the mortgage. They are offering a great rate but at this pace what difference does it make?

Jaker511's review was:    

  Mar 16, 2013 Reply

Jaker511(1, 0)

Review by Jaker511

1 Contributions 0 People Helped


Apparently unable to handle full business transactions, bill payment service down every week, limited corporate staff and business hours. Has the potential to be an excellent provider, fix the glitches.

Dec 04, 2012 Reply

I was happy with this bank until I decided to refinance my home. WORST EXPERIENCE EVER. Extremely lengthy processing time (over 6 months), rude and unprofessional loan processor. They have no idea what they are doing. Want a good interest rate in your savings?, so far they are still paying the advertised 3%. Want a loan? run for a commercial bank!

rmalarc's review was:    

  Sep 17, 2012 Reply

rmalarc(1, 0)

Review by rmalarc

1 Contributions 0 People Helped

not as great as people say they are. while yes they make things easy, they have made one mistake after another with my accounts. they have never once fixed any of the problems caused by employees and have not been fair, forcing me to pay more out of pocket to fix THEIR mistakes. once my accounts are paid in full im out of there as they are not easy to contact and have horrible hours to conduct business 

May 04, 2012 Reply

One od the best Credit Unions around period! I have been a member since 2001 as a college student and have been the recipient of great service all those years. They have a great checking acount called GoGreen where a member gets 3.5% on their cash up to $25,000. With the same account I also get ATM fees refunded. I have paid no fees on any of my accounts and they always offer cool products for members to use. FinanceWorks, Popmoney are among those products. If you are living on Long Island you need to become a member. I have moved to Texas and still use them as my main Credit Union.

Oct 19, 2011 Reply
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Company Overview

Serving the New York counties of Nassau and Suffolk, Nassau Educators Federal Credit Union (NEFCU) is a not-for-profit financial cooperative offering a wide array of financial services. Available personal banking products include checking and savings accounts, auto loans, CDs, credit cards, IRAs, home equity, and mortgages. Business banking services are also available. Online and mobile banking services allow members to check account balances, pay bills, transfer funds, and access eStatements. NEFCU’s website also features a member services center, and includes information on upcoming financial seminars.

Founded in 1938 as the Valley Stream Teachers Federal Credit Union, NEFCU currently serves 145,000 members and has over $1.5 billion assets.

Company Details

Nassau Educators Federal Credit Union

  • Established: 1938
  • Headquarters: Westbury, New York
  • Website:
  • Products: Auto Loans, Banking, Credit Cards, Home Equity, Mortgages
  • Assets: $1.5 billion
  • Available: Online, by phone, in branches; New York

Rating Distribution (8)

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