Eastern New York Federal Credit Union
Eastern New York Federal Credit Union
Sanatorium Road,
Otisville, NY 10940
Phone: (845) 386-4416
Fax: (845)386-4516

A good savings account is the foundation of your savings plan...which is the cornerstone of your long-term financial security. Savings doesn't have to be hard...in fact, at Eastern, we do our best to make it as easy as possible. How?

By offering versatile plans that help you reach your goals, and with convenient tools to help you make savings a part of your everyday routine. One of these tools is Direct Deposit (read more about Direct Deposit here).

Regular Share Savings
At Eastern, the basic account you hold is called a "Share Account". It holds the shares of the credit union you gained when you became a member and made your initial deposit. In addition to your Share Savings being a nice, safe place to accumulate your savings, it earns dividends on balances over $250. And it's tiered, so that the more you save, the higher your rate will become.

A savings account is a great place to accumulate money for a rainy day, to reach a goal, or until you have enough to make a larger investment such as a share certificate.

At Eastern, you can open as many savings accounts as you wish...for instance, one account could be for a big event such as a wedding, another earmarked for the down payment on a home or car (with Auto-Rate, a bigger down payment means a lower rate!) And your savings are insured safe at Eastern up to at least $250,000 per member.

Club Accounts
The holidays are is a lot more fun if you have the money to pay for it up front. A Holiday Club account is a way to make sure you don't need to borrow for Holiday gifts. Just open your Holiday Club, make deposits throughout the year (Direct Deposit and payroll deduction are great ways to do this), and when the holidays come, the balance will be transferred over to your Regular Share Savings for you to spend.

Vacation Club works much the same as Christmas Club except the money gets transferred to your savings account on any day of each year.

Few things are worse than the feeling of dread when tax time comes with a nasty surprise...and you don't have the money to cover it. With our Tax Club, you just put a little away every month, then at tax time you'll have the money you need to pay the Tax Man. A check or transfer is made in September and January.

This account is designed especially for teachers to help your 9 months of paychecks stretch into 12 months of income. Simply transfer a portion of your regular paycheck into your Summer Savings Club (Direct Deposit and Payroll Deduction can really help with this!) where it will build up and earn dividends all year long. Then, beginning the first Friday of July, the balance of the account will be divided by 5, and you'll receive the first of 5 equal, biweekly checks or account transfers to help tide you over the summer. A fee applies for early withdrawals.

Gopher Club for kids!
Teaching kids how to save is a skill that will last them a lifetime. With our Gopher Club account, Eastern offers kids a fun way to get into the savings game.

Kids 12 and under can open a Gopher Club account with just $5, and they earn dividends right away. Call or visit any branch for more information.

© 2008, ENY FCU
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