Bethpage Federal Credit Union 2022 Review

Bethpage Federal Credit Union is a not-for-profit, federally chartered credit union which was founded in Bethpage, New York, in 1941. Bethpage Federal Credit Union has over $11.50 billion in assets and nearly 432,000 members.

As a Bethpage Federal Credit Union member, you have access to your account at over 30,000 free ATMs, and 5,000+ shared branches nationwide through the CO-OP network. This means you can easily access your funds when you need them – no matter where you are.

Bethpage Federal Credit Union offers its members a variety of different products, such as their Savings Account, Checking Account, CD, Money market accounts, and Credit Cards.

If you’re looking for a Bethpage review, you’ve come to the right place. Bethpage is known for its competitive rates, especially with its money market account and certificates of deposit (CDs). This review will focus on Bethpage’s banking accounts and services.

Let’s jump right in!

What’s Ahead

1. Savings Account
2. Checking-Accounts.
3. CDs (Share Certificates)
4. Money Market Accounts
5. Credit Cards
6. Customer Review
7. Final Thought

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1. Bethpage Federal Credit Union Savings Account

The Bethpage Savings Account is a great, low-risk way to store your savings. Bethpage offers its members interest rates that are competitive average to the other banks, as well as an award-winning mobile banking app for convenience.

Bethpage Federal Credit Union offers three saving accounts: Bethpage’s Special Purpose Account, Youth Savings Custodial (NYUTMA), and Young Adult Savings account. Bethpage has a savings account just for you!

Here are the quick highlights of three saving accounts.

# Bethpage’s Special Purpose Account.

This account is specifically designed to dedicate savings for specific savings goals. When you open a Special Purpose account, you’ll need to deposit at least $1. This account is designed to help you save for specific goals or act as an emergency fund. When you apply online, select Savings Account as the type of account, and then choose Special Purpose as the type of savings account.

Here are some benefits of Bethpage’s Special Purpose Account.

• Super Easy to Open:  You can open Bethpage’s Special Purpose Account online. Just log into your Bethpage Membership Area, choose Savings Account as the type of account, and then choose Special Purpose as the type of savings account.
• Savings Goals: Set up specific savings goals, such as holidays, birthdays, vacations, etc., and Bethpage’s Saving Goal feature will help you track your progress towards that goal. You’ll be able to see how much you have left to save, and Bethpage will send you a reminder email when it’s time to deposit the goal.
• You may withdraw any amount at any time: The Special Purpose Accounts are designed to help customers save, not to hold their money hostage. Recognizing that sometimes more important things call for immediate financial attention, the bank allows customers to withdraw money from their accounts without penalty.
• One 1$ required to open Saving Account: Opening an account with only one dollar makes it easy for you to get started on saving for your goal. You can make small deposits over time and watch your savings grow.
• A Great Place To Save For Emergencies: Bethpage’s Savings Account is a great place to store away your emergency fund. Bethpage allows you to make an unlimited number of withdrawals, including ATM withdrawals, without penalty.
• High-interest rates: Bethpage offers competitive average interest rates on their savings accounts, making it easy for you to save money and watch your savings grow.

# Youth Savings Custodial (NYUTMA).

Saving for your child’s future can seem like a daunting task, but it doesn’t have to be. A custodial account is a great way to start building savings over time. The account can be transferred to the minor when they reach the age of majority, so you can rest assured knowing that your child will have a financial cushion in the future.

This Bethpage savings account is specifically designed for children under the age of 18. Bethpage Federal Credit Union understands the importance of preparing for your child’s future.

Here are some benefits of Youth Savings Custodial (NYUTMA).

• Easy Access to Funds: Bethpage makes it easy to save money towards your goals with an online Savings Account that can be easily opened and accessed from the convenience of home, without requiring a credit check or minimum balance amount.
• Easily transferable when Child Reaches Age Majority: Bethpage Federal Credit Union understands the importance of preparing for your child’s future. Bethpage allows you to transfer a custodial account to the minor when they reach the age of majority, so you can rest assured knowing that their financial future is taken care of.
• Superior Interest Rates: Bethpage offers interest rates of 2% on the first $1,000 balance and an average of 0.35% on balance above $1,000. . Bethpage Savings Account is a great option if you want a higher rate without having to deal with tying up your money in an investment account. 
• Federally insured by the NCUA: Bethpage Federal Credit Union is a federal credit union, which is regulated by the National Credit Union Administration (NCUA). Bethpage Federal Credit Union offers deposit insurance up to $250,000 per account through the National Credit Union Association (NCUA), so you can rest easy knowing your money is safe. 

# Young Adult Savings Account

A Young Adult Savings Account from Bethpage lets you grow your savings as you grow, no matter where you are. Young Adult Savings Account is designed for customers between the ages of 18-20.

Bethpage’s account allows you to achieve your savings goals without requiring a credit check or minimum balance amount and make unlimited withdrawals for free.

Bethpage accounts offer the convenience of online banking, with paperless processing and alerts sent directly to your email or mobile device. Bethpage offers average competitive interest.

Bethpage offers average annual percentage yields (APYs) of 0.35% on accounts with an average balance between $1,000 and $100,000, and Bethpage offers an APY of 2.00% on accounts with balances below $1,000.

Here are some benefits of a Young Adult Savings Account.

• How Bethpage Can Help You Achieve Your Goals: Bethpage can help you achieve your goals and save for the future with a Bethpage Savings Account. Bethpage offers competitive average interest rates and paperless processing, and unlimited withdrawals.
• Only $5 is required to open accounts:  Bethpage makes it easy to save money towards your goals with an online Savings Account that can be easily opened and accessed from the convenience of home, without requiring a credit check or minimum balance amount.
• Low Minimum Balance Requirement: Bethpage offers competitive average interest rates on their savings accounts, making it easy for you to save money and watch your savings grow. Bethpage only requires a $5 minimum balance to open an account, so you can easily start saving today.

Pro & Cons

Pros

• $5 minimum opening deposit
• ATM card included
• No monthly service fees

Cons

• Low-interest rate

Let’s see the main points of the above discussion. 

If you want to become a credit union member and open a savings account, Bethpage has two great options for you. The first is the Bethpage Savings Account, which requires a $5 balance to open and earns 0.10% APY. The second option is the Special Purpose Account, designed to help customers reach specific savings goals. It’s also a great place to keep an emergency fund. Both accounts come with an ATM card.

Read More : Ways to Review Your Finances Without Overdoing It

2. Bethpage Federal Credit Union Checking Accounts.

 If you’re looking for a checking account that offers many free features, Bethpage Federal Credit Union has three great options: Free Checking Accounts, Youth Checking Accounts, and Young Adult Checking accounts.

Each of these accounts comes with different benefits, so be sure to check them out and see which one is the best fit for you!

Let’s check Bethpage’s all the three accounts below:

Free Bethpage Checking Account:

If you’re looking for a dividend-earning checking account that offers many of the features today’s banking customers desire, Free Checking is a great option. This account earns 0.40% APY for account holders who meet monthly requirements:

• Enroll in online banking with eStatements
• Receive a direct deposit
• Make 10 point-of-sale debit card transactions

However, if you do not meet the abovementioned requirements, Bethpage only offers an APY of 0.00%. There are no minimum age requirements, and Bethpage doesn’t charge monthly service fees.

Here are the benefits of Bethpage’s Free Checking Account:

• No monthly maintenance fees: Bethpage doesn’t charge monthly service fees, so it’s great if you don’t want to worry about paying for banking services.
• No minimum balance requirement: Bethpage doesn’t require customers to hold a certain amount of money in their account before opening or using Bethpage accounts.
• ATM card included: Bethpage provides ATM cards with every Bethpage account, so it’s easy to make withdrawals and deposits at 30,000 ATM Nationwide.
• Free checks when you set up direct deposit:  Bethpage offers Bethpageers free checks when you set up direct deposit.
• Insurance up to $250,000 by the NCUA: Your fund are insurance by the US Government National Credit Union Administration (NCUA), so you don’t have to worry about Bethpage going bankrupt.
• Checking accounts can be opened online: Bethpage allows customers to open Bethpage accounts online right from home.

Student Checking Accounts

There are two distinct types of Student checking accounts available through Bethpage: Young Adult Checking for those aged 18-20 and Bethpage Youth Checking for teenagers aged 15-17.

Youth Checking Accounts: You can have a Youth Checking account if you’re a teenager looking for a checking account. It comes with a free debit card, no monthly fees, and minimum balance requirements. Plus, it’s a joint account for parents and teens, so parents can monitor as desired. You can also use it to transfer money for completing chores, weekly allowance, or other tasks. And the online rate schedule says Youth Checking earns 0.10% APY.

Young Adult Checking 

When you turn 18, your Youth Checking account will automatically be converted to a Young Adult Checking account. This account is just like Free Checking, but it’s for young adults aged 18 to 20. Plus, you’ll earn the same competitive 0.40% APY as Free Checking as long as you meet the same monthly requirements (eStatements, direct deposit, and debit card transactions).

Benefits of Student checking Accounts

The Bethpage Debit Card can be used to pay for various items, including books, food, and gas. Additionally, the card offers access to over 30,000+ surcharge-free ATMs. You can check your account balances without having to log in on your phone or Apple® Watch®, and you can also earn 0.40% APY* each month just by using your debit card, getting a direct deposit, and being enrolled in e-statements. There are no monthly maintenance fees and no minimum balance requirement fee checks with direct deposit.

• You can use your Bethpage Debit Card to pay for books, food, and gas.
• The card also gives you access to over 30,000+ surcharge-free ATMs.
• You can check your account balances without having to log in on your phone or Apple® Watch®.
• In addition, you can earn 0.40% APY* each month just by using your debit card, getting a direct deposit, and being enrolled in e-statements.

Pros and Cons

Pros

• There are no additional monthly fees.
• There is no requirement for a minimum deposit when you open an account with Bethpage.
• Ability to earn interest
• There are no out-of-network ATM fees.

Cons

• None

Read More: Most exclusive and luxurious credit cards in the world.

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3. CDs (Share Certificates)

A Bethpage Certificate Account is the perfect way to save securely and predictably. With a fixed interest rate for the term of the product, your Certificate Account will grow dependably with steady interest.

Bethpage Certificate Accounts are a credit union’s version of a bank CD account. The certificates are available in ten-term durations ranging from three months to five years, with APYs between 0.40% and 1.00%. These certificates provide competitive APYs across both shorter and longer terms.

 It also offers special certificates with higher rates if you deposit for 39 months, known as a “39-month bump-up certificate”. Bethpage Certificate Accounts have a low minimum opening balance of just $50.

Certificate Term	Rate
3 Month	0.40% APY
6 Month	0.40% APY
12 Month	0.60% APY
18 Month	0.60% APY
24 Month	0.70% APY
30 Month	0.70% APY
36 Month	0.70% APY
39 Month Bump-Up[1]	0.70% APY
48 Month	0.80% APY
60 Month	1.00% APY

When you open a certificate, the dividends are compounded daily. The dividends for certificates purchased online are deposited monthly. Certificates can be credited monthly or quarterly at a branch. Once they reach maturity, certificates automatically renew unless you cancel them.

Benefits of Bethpage Certificate Accounts

• Many certificate terms available: Bethpage has a wide range of certificate terms, from three months to five years. Bethpage certificates have competitive rates across these different terms.
• Interest is credited monthly: Bethpage guarantees that interest will be credited monthly, either through a direct deposit to your Bethpage account or as a check sent directly to you.
• Automatic renewal: Bethpage has certificates with automatic renewals, so you don’t have to worry about missing the deadline if something happens and you can’t make your certificate renewal date.
• Low opening balance: Bethpage Certificates have a low $50 opening balance, so you don’t need to put much in the account when you open it.
• The account holder has a seven-day grace period after maturity to renew or alter their account: Bethpage accounts have a seven-day grace period after maturity to either renew or alter their account.
• Federally insured by the NCUA:  Bethpage certificates are federally insured by the NCUA up to $250,000.

Is there any disadvantage? Yes, you will be subject to a penalty in case of early withdrawal of Bethpage Certificate Accounts. The penalty for early withdrawal equals 90 or 180 days’ dividends, depending on term length.

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4. Money Market Accounts

If you’re looking for a way to make your money work harder for you, a Bethpage money market account may be a good option.

A money market account is like a hybrid between a checking and savings account – you get the flexibility of a checking account, but with the dividend-earning potential of a savings account.

Bethpage’s money market account earns 0.40% APY on balances over $500, and there’s no monthly withdrawal limit. Balances under $500 still earn 0.10% APY. So if you’re looking for a place to park your cash, a money market account may be a good option.

 Benefits of Bethpage Money Market account

• Competitive APY: Bethpage’s money market account pays a competitive interest rate. Bethpage members receive an APY of 0.4 % on balances over $500 and 0.10% APY on balances below $500.
• No monthly service fees: Bethpage charges no monthly service fees, making it easy to save.
• Free Bethpage ATM access: Bethpage account holders have unlimited access to free Bethpage ATMs.
• Minimum balance requirement: Bethpage’s minimum balance requirement for money market accounts is only $500.

Is there any disadvantage? Yes, you must have a savings account at Bethpage Bethpage to open a money market account.

5. Bethpage Federal Credit Union Credit Cards

Bethpage offers credit cards with competitive interest rates and 0% intro APR available for purchases. Bethpage Credit Cards include Mastercard® Be You Rewards Credit Card, Mastercard® Low Rate Credit Card, and Mastercard® Cash Back Credit Card.

Here is the quick overview of Bethpage Credit Cards:

Mastercard® Low Rate Credit Card

If you’re looking for a credit card to help you save money, the Mastercard Low Rate Credit Card is a great option. It has an introductory rate as low as 2.99% APR for 12 months from account opening on purchases and balance transfers, then as low as 8.15%.

There are no balance transfer or foreign transaction fees, so it’s a great way to save money by transferring balances from higher-rate credit cards.

This card has no annual fee and offers credit lines from $500 to $35,000. You also get zero liability fraud protection and purchase insurance coverage.

Plus, you can extend the warranty on your purchases with the Extended Warranty benefit.

Mastercard® Cash Back Credit Card

If you’re looking for a credit card that gives you cashback for your shopping, the Mastercard® Cash Back Credit Card is a great option.

You’ll get an introductory rate of 2.99% APR for 12 months on purchases and balance transfers, and after that, the rate will be as low as 11.15%.

You’ll also earn 0.50% cashback on month-end purchase balances between $1.00 and $4,000. (Net purchases over $4,000 earn 1% cashback.) Plus, there are no balance transfers or foreign transaction fees.

Mastercard® Be You Rewards Credit Card

If you’re looking for a rewards credit card that will let you be you, the Mastercard® Be You Rewards Credit Card is a great option.

You’ll earn 2 points for every $1 spent on all purchases and 3 points for every $1 spent in one category of your choice. Plus, you’ll receive 25,000 promotional points upon spending $3,000 within the first 90 days.

Other Accounts and Services from Bethpage Federal Credit Union.

Besides Bethpage’s deposit accounts, Money Market Account, and Credit cards, the credit union also offers a variety of other great products and services for its members. Here are some of them.

• Mortgage loans
• Home Equity Lines of Credit
• Auto loans
• Auto refinancing
• Personal loans
• Retirement planning
• IRAs
• Insurance
• Business accounts and services

Special Features

Bethpage understands that you may not have the time to visit a branch in person. That’s why they offer phone and video appointments. This service is available at all of Bethpage’s 30 branch locations.

Banking experience

Bethpage Federal Credit Union members have access to more than 30,000 free ATMs. This number includes all ATMs in the Bethpage network and all ATMs part of the MoneyPass and Allpoint networks. The credit union also offers numerous budgeting tools, letting you do everything from searching transactions to creating a budget to checking your balance on your Apple Watch.

Customer service staff can be reached during the weekdays from 7:30 a.m. to 7 p.m. Eastern Time, and on Saturdays from 8 a.m until 2 p.m.

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 Customer Review

Bethpage Federal Credit Union is a great financial institution that offers many products, such as Bethpage’s Special Purpose Account, Youth Savings Custodial (NYUTMA), and Young Adult Savings account. Bethpage has competitive interest rates and 0% intro APR for their Bethpage credit cards purchases. Bethpage also offers great online services that make it easier to manage your Bethpage accounts while on the go. Bethpage membership is open to anyone, and their customer service staff can be reached during working hours.

I have gathered the customer review from various sources. These are below for your reference.

Facebook Review 

On the Bethpage Federal Credit Union Facebook page, Bethpage fans talk about their experiences with Bethpage. Out of 518 customers rating, Bethpage has a 3.6/5-star rating out.

Most of the review seems to be fake, as reported by Bethpage’s team. However, there is some genuine feedback also found. Most of the reviews appreciate the Branch staff. Bethpage staff are praised for their knowledge of Bethpage products and professionalism in behavior.

Reviews found on Wallethub.

On WalletHub, 70 customer reviews have given Bethpage a 2.8/5-star rating

Many negative reviews are found on this website. Most of the customers were talking about the absolute worst experience Bethpage provided. Bethpage could not understand customer needs, and they were totally rude in behavior. 

Apple Store and Goole Play Store Rating 

Apple Store has Bethpage Federal Credit Union at the 4.8/5-star rating, while Google Play store Bethpage has a 4.8/5-star rating about mobile banking app.

Their mobile banking app is highly rated, as reported by Bethpage customers. Bethpage Federal credit union app is simple, easy to use, and very efficient. Bethpage customer service has also been talked about positively on these websites.

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Final Thought

To become a member, only a $5 deposit is needed. It’s also perfect for young adults or families with children because it teaches them how to manage money through checking or savings accounts.

Have you used Bethpage Federal Credit Union in the past? What was your experience like? Let us know below in our comment section!