Savings & Club Accounts

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At NY TEAM, our accounts offer special ways to save you valuable time and money while making the task of managing your daily finances more hassle-free than ever. Open an account is easy.

Achieving your goals is easier with our range of savings accounts, tailored to meet your unique needs.

Share Savings Account

In order to join NY TEAM Federal Credit Union, you’ll need to start and keep a basic savings account. The Membership Savings Account can be opened with just $1 as your ownership share in the credit union. If you want, you can also open a Special Savings Account with no minimum balance or withdrawal fees. Both types of savings accounts earn dividends on your daily balance, which are credited and compounded each month.

Holiday Club

This club account will help you save for the holiday season or a special occasion or event. Daily dividends are compounded and paid monthly. The third week of October the funds in your Holiday Club will automatically transfer to your Share Savings account.

You are limited to two monthly withdrawals for free, an additional withdrawal will occur a fee.

Special Savings Account

If you’re looking to add an extra Savings Account to your current Member Account, this is the ideal solution. While there are no restrictions on transfers, please note that this account can only be accessed through online banking and not with an ATM Debit Card.

Vacation Club

This account is a continuous club account to help you save for your yearly vacations. You are permitted two withdrawal, per calendar month , 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.

Individual Retirement Accounts (IRA)

These accounts help secure your financial future. IRAs offer an excellent tax-deferred investment. NY TEAM offers Share IRAs Accounts. Be sure to seek competent tax advice about your specific IRA investments.

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.

NY TEAM benefits to fit your life and goals

  • Mobile Banking Made Easy

    Access your money and accounts almost anywhere with app

  • Unlimited Deposits

    Set up monthly direct deposits, payroll allocations or automatic transfers and grow your savings.

  • Insured by NCUA

    Safe, secure way to save.

Add another account easily!

Adding another account to your Membership is easy if you already have a share account.

More Ways to Help You Build Your Savings

We’re big believers in helping our members develop healthy savings habits. So, in addition to offering regular savings accounts, we also offer a variety of other money-wise options

Account FAQs

What are the perks of becoming a NY TEAM FCU Member?

NY TEAM Federal Credit Union is a financial cooperative owned and operated by its members. Our primary goal is to help our members achieve lifelong financial well-being to lead happy and fulfilling lives.

When you join NY TEAM Federal Credit Union, you become a member and a shareholder, and we’ll also open a Share Savings account and deposit one share ($1) in your account. Unlike the big banks or other for-profit financial institutions, we invest our profits back into our members by providing better rates and low- to no fees.

We also offer free financial advice to anyone who wants to improve their financial situation. Our members have told us they feel seen, heard, informed, and supported to make more confident financial choices.

Membership is free and comes with great benefits. All you need to do to become a member is to open an account with us.

How can I setup direct deposit?

If your employer provides an HR portal for setting up direct deposit, you can input our routing number 2260-7612-2. If you need to know your Member Number, please call us at (516) 822-1070.

Why does NY TEAM hold $1.00 deposit in my share savings account?

When you become a part of the NY TEAM, you become a member and a shareholder. The $1.00 deposit into your shares savings account represents your “share” in NY TEAM. As a member-owner, your voice matters, and you have a say in our decisions. In contrast, with other for-profit banks or fintech companies, you are just a customer who buys something or a client who receives a professional service in exchange for payment.

You are in good hands!

Rest assured that at NY TEAM Federal Credit Union, your funds are fully insured and protected by the National Credit Union Association (NCUA) for up to $250,000 per account holder and per ownership category. To confirm your coverage, simply use the NCUA share insurance estimator. In the unlikely event that there is any gap in your coverage, our Managers are always available to discuss options for expanding your protection.

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