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:
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.
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.
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
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. All balances less
than $2,500.00 will be charged a monthly fee of $10.00.
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:
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 if you have full direct deposit and an ATM/Debit card for easy access to
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
All overdrawn accounts due to Courtesy Pay which exceed 30
days will be charged a $10.00 Processing Fee.
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
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
Deduction: lets you allocate a portion of your paycheck to
painlessly make payments to your loans or build up your
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.
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.
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!
Foreign Currency: Purchase or Sell Currency at the
convenience of your Credit Union, view
currency rate calculator. View our Forms for Transaction
form to process Purchase or Sell of Currency.
Orders: are for sale for a modest fee. Money orders are a
safe and easy way to make payments.
Savings Bonds: can be redeemed at any credit
union branch. Can only be purchased online at
Gift Card: Has a $4.95 fee and can be purchased in any
amount between $25.00 to $500.00 per card.
Transfers: are a
quick, easy and affordable method (with proper authorization)
to transfer funds from one financial institution to another
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
Shared Branching: Take advantage of NY TEAM's Shared
branching services through Co-Op Shared Branch and you can
access your Credit Union account at any of the 5,100 credit
union branches nationwide, often just as if you were
visiting one of our own.
Have you noticed on our
CU FORMS PAGE you can now fill out many of our
forms right online? Yes, this is easy and convenient!
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
P.O. Box 576
Hicksville, NY 11802