Money magazine named Bethpage Federal Credit Union (BFCU) the Best Bank in New York State in the publication’s annual ranking of banks nationwide.
The ranking, which was done in partnership with Bankrate.com, focused on fees, interest rates and account requirements for checking and savings accounts that were compared from more than 800 accounts across the country.
“Bethpage prides itself on offering a full spectrum of products and services to meet the growing financial needs of our members and that means great rates and low fees,” said Wayne Grossé, president and CEO of BFCU. “We are very proud to have been named the ‘best’ and look forward to continuing to be a trusted financial partner to our members.”
BFCU—the largest credit union in the state and the Northeast and the 16th largest in the nation—earned the title with its fee-free Bethpage Bonus Checking that pays 1-percent interest to members, something that is “rare to find,” according to Money magazine. It also requires no minimum monthly balance, no third-party ATM fees and no monthly fees.
Banks were cut from consideration for requiring minimum balances of $1,500 or more to open an amount or avoid monthly fees, among other factors. BFCU allows members to open accounts with just $5.