Products & Services

The Credit Union offers many opportunities to save and invest, as well as providing competitive loan rates. Special advantages of borrowing from your Credit Union include simple interest clearly stated and no prepayment penalties---ever! Credit Union loans can be repaid painlessly through direct deposit or payroll deduction. We also offer both Life and Disability Insurance thru Cuna Mutual Insurance Society Inc. The benefits of belonging to NY TEAM quickly add up to secure your financial future.

Savings and Investments:

Regular Share Savings: A minimum of $25 is required to open an account and secure membership in the Credit Union. Daily dividends are compounded and paid Monthly on balances of $2,500.00 or more. Interest rates are tiered to your share account balance, please view Rate Sheet.

Individual Retirement Accounts: These accounts help secure your financial future. IRAs offer an excellent tax-deferred investment. NY TEAM offers both Share IRAs and one-year CD IRA Accounts. Be sure to seek competent tax advice about your specific IRA investments.

Holiday Club Accounts: This club account will help you save for the holiday season or a special occasion or event. Daily dividends are compounded and paid monthly.

Vacation Club Account: This account is a continuous club account to help you save for your yearly vacations. You are permitted two withdrawal, per calendar year , for the full amount of the club, at no charge. Subsequent withdrawals may be made subject to standard fees, as stated in the current fee brochure.

Money Market Account: An account designed for larger account balances. Minimum balance of $5000.00 required. This account allows you to do 3 withdrawals a month without a fee. Please view Rate Schedule to interest rates, rates are tiered regarding Money Market Balance.

Educational Club Account: This is account is designed to help save for your child's future educational expenses with a high APY it makes saving easier. Subsequent withdrawals are subject penalty, as stated on disclosure.

Other Products & Services:

Share Draft Accounts: Checking convenience with no minimum balance and no per-item fees,  Personal Share Draft accounts do not require a minimum deposit and there are no monthly maintenance fees. You will receive your first box of checks free and an ATM/Debit card for easy access to your funds.

Courtesy Pay: As of April 1, 2012 all of our checking accounts have been enrolled into our Standard Courtesy Pay service, with a choice to opt-in for Everyday Purchases.  More Information
 

MVP Members Value Package: sign up for direct deposit of your net pay to become an MVP member, and look at what you get.

6 Free ATM withdrawals per month
A 1% interest rate reduction on MasterCard

Direct Deposit: is safe, fast and convenient. Your net paycheck comes directly to your Credit Union account for distributions that you specify. (direct deposit qualifies you for MVP status) 

Payroll Deduction: lets you allocate a portion of your paycheck to painlessly make payments to your loans or build up your savings.

NY TEAM ATM/Debit Master Card: This ATM/Debit card can be used at any of the millions of merchant locations around the world displaying the NYCE/CIRRUS symbol. You will receive a Personal Identification Number (PIN) to allow withdrawals from your savings or checking account at an ATM. All other transactions are handled in much the same manner as a credit card transaction, except that the money is deducted from your savings account or checking account if you have one.

S.T.A.R Special Teller Audio Response: (516) 822-0170, option #1 Is an easy, convenient way to have access to your Credit Union accounts seven days a week 24 hours a day from anywhere at anytime. By using a touch-tone telephone, your account number and a special PIN you can get account information and make transfers.

Home Banking: Is a great service which provides you with 24 hour access to your account. Home Banking allows you to view balances, make transfers, view history and setup transfers for the future with our Pending Transfers Option.

E-Statement: Is a great service which allows you to access your statements electronically, and archives your statements up to 7 years. Log-in to our Home Banking to sign up for E-Statements. Go Green Today!

Money Orders: are for sale for a modest fee. Money orders are a safe and easy way to make payments.

U.S. Savings Bonds: can be redeemed at any credit union branch. Can only be purchased online at treasurydirect.gov

Visa Gift Card: Has a $4.95 fee and can be purchased in any amount between $25.00 to $500.00 per card.

Wire Transfers: are a quick, easy and affordable method (with proper authorization) to transfer funds from one financial institution to another financial institution. Domestic Wire Form, International Wire Form and Incoming Instructions Available.

Skip-A-Pay: Is a service we offer our members, which allows them to skip a month of loan payment(s) during the Holiday Season.

The Supervisory Committee: is available to assist members if you have any concerns with NY TEAM. The primary duty of NY TEAM Federal Credit Union's Supervisory Committee is to conduct or contract for an annual audit of the financial condition, practices and procedures of the Credit Union to ensure the safety and soundness of its accounting in conformance with generally accepted accounting practices. The Supervisory Committee, appointed by your Board of Directors, from among members of the Credit Union, serves as a "watchdog" for you, the members, investigating member disputes with the Credit Union. If you have any concerns with your Credit Union or that you feel you are not adequately dealt with by the Credit Unions extremely competent staff do not hesitate to contact your Supervisory Committee at the address below.

Supervisory Committee
P.O. Box 576
Hicksville, NY 11802

For International wires, the bank overseas needs to first send the wire to a Financial Institution in the United States that they correspond with. Once the wire is Received by that bank in the United States, they can then use the instructions shown above.