News

Technology Upgrade occurring Feb. 1, 2010

Upgrade in efficiency, and upgrade in convenience…an upgrade for you!
All branches closed Monday, February 1, 2010

On February 1, we’re installing a major upgrade to the technology base of our credit union. It’s called a Core Processor Upgrade, and in short, everything that has to do with your accounts, loans, and our service is about to get a turbo-boost! This technology upgrade will help us operate more efficiently, allowing us to spend our time and resources on better serving you. It will also give us the ability to improve our electronic services and make it even more convenient to handle your finances on your schedule, not ours. You will see improvements in several areas:

Mortgages: You'll be able to make payments directly to your mortgage or home equity loan, view principal balances, and more.

Service upgrades. You'll see fewer busy signals and shorter hold times by phone, and shorter lines in the branches. Plus, we'll be able to offer extended hours by phone.

Home Banking We’ll be changing to a system called Net Branch, one of the most popular online banking systems out there. It includes all the features you expect…account history, account transfers, loan payment and more. But for those of you also using Online Bill Pay, we have a significant upgrade: You won’t have to sign in separately! One username and password gets you to both.

We've prepared a Frequently Asked Questions document to help you through the conversion. If you have any questions, feel free to call!

Eastern earns Great Rate Award!

We've always touted how Eastern offers great value for your membership, but now we have independent confirmation. Datatrac, the largest interest rate database of deposit and lending rates, has awarded Eastern with a Great Rate Award for our 36-month and 48-month auto loans, where we beat our competitors by at least 25%. Click here to read the press release.

New Student Loan programs

In a time of rising borrowing costs and tightening lending, Eastern New York Federal Credit Union, Napanoch, NY, has partnered with Fynanz, Inc., to buck the trend and continue to give members access to affordable student loans.

With this new program, we're able to help members secure private loans to meet the rising cost of higher education. Private student loans are used to cover qualified education expenses including tuition, room and board, books and other school related expenses above and beyond the federal loan limits and available grants and scholarships.

The new student loan program features competitive interest rates, in-school deferred payment, cosigner release, and a 1% interest rate reduction once 10% of the loan is repaid.

For more information, visit our Student Loan Center page.

Eastern announces revolutionary new checking account!
Free checking with free nationwide ATM usage and amazing returns

Serving those who serve others...that's what we do at Eastern. And that is precisely the reasoning behind our revolutionary new account, Rewards Checking—free checking that offers you significant rewards to help your money work harder:

To receive these rewards, you simply need to take a few simple actions each monthly billing cycle:

And if you don't take all these actions, you still have a free checking account, and earn 0.25% APY. You can find out more, including important account terms and conditions, on our Rewards Checking page.

Zero-Down Mortgages are here!

The well-known issues in the mortgage industry have made it hard to buy a home for people who haven't been able to save up for a large down payment. Even people with good credit and good jobs can't find a home loan without having a large down payment.

At Eastern, we're proud to introduce our Zero-Down Mortgage. Available in 3-, 5-, 6- or 7-year Adjustable Rate Mortgage (ARM), these mortgages help members get out of the rut of paying rent, and into the zone of building your own future. FInd out more on our Zero-Down Mortgage page.

New! Personal investment advice with Coombe, Bender & Co.

We're pleased to announce a new partnership with local investment firm Coombe, Bender & Co., to offer special packages to Eastern members. Four fixed-price packages are available with comprehensive reports that compare your current situation to your long-term goals. Find out more.

Otisville Branch now open all week!

If you live near Otisville, banking with Eastern just got easier! We're pleased to announce that our Otisville branch is now open 5 days a week, Monday through Friday, 9:30 am to 4:30 pm. The address is Sanatorium Road in Otisville, and the phone number is (845) 386-4416. See you soon!

Eastern members now have access to over
25,000 surcharge-free ATMs worldwide

Eastern is pleased to announce partnerships which help you save money and provide you with more convenience. We have partnered with two organizations, Co-Op Network and EZ-Access, which offer you access to more than 25,000 ATMs surcharge-free. EZ Access is a network of 26 ATMs operated by credit unions in our local area. To see the list of surcharge-free EZ Access ATMs, click here. Co-Op Network is the largest credit-union ATM network in the country, with more than 25,000 total ATMs including machines in 5,500 7-Eleven stores throughout the country. Click on the logo at right to find a Co-Op Network ATM near you.

5/5/Flex home equity loan

Our new 5/5/Flex home equity loan gives you the certainty and predictability of a fixed-rate loan, with the potential savings of an adjustable. With this loan, you have a fixed interest rate for the first 5 years of the loan, then it adjusts every 5 years through the term of the loan. The initial rate is lower than a 10-, 15- or 20-year home equity loan, and you have peace of mind knowing your payment won’t change for quite a while. As with all ENY FCU home equity loans and lines of credit, there are no closing costs or fees, no prepayment penalties, and most loans close in just 10 days. Click here to apply!