Nassau Financial Federal Credit Union

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Nassau Financial Federal Credit Union
150 Miller Pl
Syosset, NY 11791
Ph: 516-742-4900
Fax: 516-496-0631

Nassau Financial Federal Credit Union was originally chartered as the Nassau County Court House Employees Federal Credit Union on May 18, 1936. Over the years our charter was expanded to include other local government jurisdictions and entities in our field of membership and our name was changed to Nassau County Employees FCU in 1969 and eventually to Nassau County FCU in 1991.

In 2004 we converted to a community charter, allowing us to serve anyone who lives, works, worships, volunteers or attends school in Nassau County and, in 2005, we therefore changed our name again to Nassau Financial Federal Credit Union. We have grown to over $300 million in assets, serving over 30,000 members in four locations with additional offices available through the shared service center network.

Real Estate Loans

At Nassau Financial, we understand the thrill and importance of finding, buying and owning a home. It's not only the "American Dream," a place where families are raised and memories are made, but also a sound investment for the future.

This is where we can help, by offering a variety of First Mortgage options. And, for when you might need cash in years to come, you can tap into the equity your home builds up and apply for one of our Home Equity Loans or Home Equity Lines of Credit. These financing options are perfect for when you might wish to add a pool, make home improvements, pay for a college education or consolidate debt.

First Mortgages
Flexible and Convenient

Our First Mortgages** feature flexibility to fit your budget and convenience to suit your lifestyle. Our Fixed Rate mortgages offer competitive rates and terms of 15, 20 or 30 years, with or without points. The Adjustable Rate mortgage is set at a 30 year term with a choice of a rate adjustment annually or every 5th, 7th, or 10th year - also, with or without points. And, there's no fee for a 60 day rate lock. If you should wish to make home improvements right away, consider applying for our Home Equity loan at the same time you apply for the First Mortgage. As with any mortgage, the interest may be tax deductible; consult with your tax advisor.

Home Equity Loan

If you own a home, you can put its equity to work for you should you need funds for any worthwhile purpose. With our Home Equity Loan,*** you may borrow up to 85% of the appraised value of your primary residence, minus any liens, at a low fixed APR (annual percentage rate) and repayment terms of 5, 10 or 15 years. If you choose to pay off the loan before the term is up, there is no prepayment penalty. And, the interest may be tax deductible; consult with your tax advisor.

Home Equity Line of Credit

Our Home Equity Line of Credit is here to help you take care of your home and family. Expand, redecorate, consolidate debt, or even pay for college tuition. We're offering a six month fixed introductory rate of just 4.00% APR† and another great rate after that as low as 4.00% APR. There are no application fees, closing costs, or annual fees. Our Personal Service Representatives are available to answer your questions and take your application. Call 516-742-4900.

Reverse Mortgages

Nassau Financial is now offering reverse mortgages through an alliance with Advanced Funding Solutions Inc.

Reverse Mortgages are federally insured loans that were specifically created to help homeowners 62 years of age and older stay in their homes. Through a reverse mortgage, seniors can use the equity in their home to pay off debts, taxes, provide home care, fund home improvements, increase cash flow, or for any other reason. In a reverse mortgage, the title remains in your name and the proceeds are not taxable. Credit is not a factor. The program is insured by the Federal Housing Authority and if you sell your home, the remaining equity is yours to keep.

Many seniors are struggling with the increased costs of maintaining their homes. Their expenses are increasing and their retirement income is not keeping up with the cost of living. For those who want to stay in their home, a reverse mortgage may be the answer.

If you would like more information regarding a reverse mortgage, call 1-888-704-0268 to speak with a Representative.