Suffolk Credit Union

What Suffolk Credit Union does

Suffolk Credit Union (legal name: Suffolk Federal Credit Union, DBA Suffolk Credit Union) is a not-for-profit, member-owned cooperative financial institution founded in 1967 and headquartered in Medford, New York. It is federally chartered and insured by the NCUA, serving members who live, work, worship, attend school, or regularly conduct business in Suffolk and Nassau Counties on Long Island. The institution employs 217 people and operates 10 branch locations across Long Island, two Financial Wellness Centers inside St. Charles Hospital and St. Catherine of Siena Hospital, plus Interactive Teller Machines (ITMs) at branches.

The product portfolio spans consumer and business banking: deposit products (Momentum Checking, Save Your Way, Share Savings, Money Market, Certificates, IRAs, Youth Savings), Mastercard-branded credit and debit cards (Platinum, Rewards, Secured), vehicle financing (auto, boat, motorcycle, RV), unsecured personal loans, BNPL, share-secured loans, mortgages, HELOCs, home equity loans, and refinancing. Mortgage origination is licensed in 12+ states. Business banking includes business checking/savings, commercial real estate loans, merchant services, payroll processing, SpendTrack expense management, and a specialized cannabis business banking vertical. Insurance and investment products are distributed through Suffolk Investments, including life insurance, GAP coverage, debt protection, and retirement planning.

The core technology stack is a digital-banking platform with iOS/Android mobile apps, online banking with bill pay, e-statements, wire transfers, Zelle integration, CreditScore+ monitoring, CashBack+ rewards, Card Controls (transaction limits, travel notifications, card lock, merchant tracking), and digital wallet support (Apple Pay, Google Pay, Samsung Pay). All cards run on the Mastercard network. Revenue is generated primarily through net interest spread on lending (mortgages, auto, personal, credit cards, HELOCs) versus deposit dividends, plus fee income from ATM, overdraft, wire transfer, and merchant services. The credit union distributes through branches, ITMs, mobile/online channels, a 71,000+ ATM network (400+ on Long Island), and a corporate partner program that anchors workplace banking with employers including Catholic Health, Suffolk County Community College, SCPD, SCSO, and municipal employee associations.

Suffolk Credit Union markets itself on the not-for-profit value proposition—profits returned to members through lower loan rates, higher savings dividends, and reduced fees—and has earned consecutive regional and national recognition: five consecutive years as Best Credit Union from the Long Island Choice Awards, two consecutive years as Best Mortgage Lender, and 2026 recognition from Forbes (America's Best-In-State Credit Unions) and Newsweek (America's Best Regional Banks and Credit Unions). It offers specialized first-time homebuyer assistance including the FHLBNY Homebuyer Dream Program with grants up to $19,500–$27,500.

Name

Suffolk Credit Union

Legal name

Suffolk Federal Credit Union

Website

https://suffolkcu.org

Company type

Private

Operating status

Operating

Headcount range

101–250 employees

Short description

Suffolk Credit Union is a not-for-profit, NCUA-insured member-owned cooperative serving consumers and small businesses in Suffolk and Nassau Counties, Long Island, NY. Operates 10 branches, ITMs, and digital banking, offering deposits, lending (mortgages across 12+ states, auto, HELOC), credit cards, and commercial banking.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (522130), Depository Credit Intermediation (5221), Credit Card Issuing (522210)

SIC

Savings Institution, Federally Chartered (6035), Personal Credit Institutions (6141)

akta.pro primary industry

Community Credit Unions (Retail/Consumer Focus) (FSABAEAA)

Keywords

• Consumer banking services
• Credit union lending
• Mortgage and home equity
• Small business banking
• Retail financial services

Headquarters

HQ city

Medford

HQ country

United States

HQ region

North America

Offices11 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Interest Income from Lending: Primary revenue stream from interest charged on loans including mortgages, home equity loans/LOC, auto loans, personal loans, credit cards, and business loans. As a not-for-profit credit union, profits return to members through better rates.
2. Deposit Taking and Interest Payments: Accepts member deposits (checking, savings, money market, certificates, IRAs) and pays dividends. Generates revenue through spread between loan rates and deposit rates.
3. Fee-based Services: Various fees including ATM fees for out-of-network usage, overdraft/courtesy pay fees, wire transfer fees, statement copy fees, pay-by-phone fees, card replacement fees, and late payment fees on credit products.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels7 records

Core offering

Suffolk Credit Union is a not-for-profit, member-owned cooperative financial institution that provides retail banking, lending, and financial services to consumers and small businesses on Long Island, NY. Its core offerings include checking and savings accounts, money market accounts, certificates and IRAs, vehicle and personal loans, mortgages and home equity products, Mastercard credit and debit cards, and complementary services such as merchant services, payroll, retirement planning, and insurance. As a credit union, profits are returned to members through lower loan rates, higher savings dividends, and reduced fees.

Product overview

Suffolk Credit Union is a full-service financial institution offering a comprehensive suite of banking, lending, and financial services to members on Long Island, NY. The product portfolio centers on consumer and business banking with multiple account types (checking, savings, money market, certificates, IRAs), credit card products (Platinum, Rewards, and Secured Mastercard), and diverse lending options including vehicle loans (auto, boat, motorcycle, RV), personal loans, mortgages, home equity products, and the Homebuyer Dream Program. Digital banking services include mobile and online banking with Card Controls, Zelle, digital wallets, CreditScore+, and Cashback+ rewards. Business services encompass commercial banking, merchant services, payroll processing, and cannabis business banking. Insurance and investment products include debt protection, life insurance, GAP, and retirement planning through Suffolk Investments. The institution emphasizes community focus through corporate partnerships and financial education programs.

Differentiator

Problem solved

Functional benefit

Products and services

• Momentum Checking High-yield checking account for individual members offering up to 1.50% APY on balances up to $20,000 when members complete 20+ debit card purchases per month and maintain a $5,000 average daily balance; includes uChoose Debit Rewards, Zelle, and surcharge-free ATM access.
• Share Savings Primary membership savings account requiring a $5 minimum opening deposit and earning dividends on balances of $100 or more; establishes credit union membership.
• Save Your Way Goal-based savings account offering a promotional 2.50% APY on balances of $100 or more through December 31, 2026, with one free withdrawal per month.
• First Time Homebuyers Club Savings club for aspiring first-time homebuyers requiring 12 to 24 consecutive $100 monthly deposits and completion of a homebuyer education course; provides closing cost assistance on a Suffolk Federal mortgage loan.
• Youth Savings Accounts Savings account for minors with a $5 minimum opening balance, earning up to 6.00% APY on balances up to $2,500, including a $25 bonus when the balance reaches $1,000; converts to Share Savings at age 18.
• Money Market Account Tiered-rate money market account with a $2,500 minimum to earn dividends and rates up to 2.50% APY on balances of $1,000,000 or more; includes check-writing privileges and up to three monthly withdrawals.
• Certificates (Share Certificates) Fixed-rate term deposit accounts requiring a $500 minimum deposit, with terms ranging from 3 months to 5 years and promotional rates of 4.00% APY on 7-month and 13-month terms.
• IRAs (Individual Retirement Accounts) Tax-advantaged retirement savings products offered as Traditional or Roth IRAs, available as IRA Share Accounts or IRA Certificates including a 7-month IRA certificate at 4.00% APY.
• Mastercard Debit Card Mastercard-branded debit card providing access to more than 71,000 surcharge-free ATMs, uChoose Rewards points on purchases, zero liability protection, and compatibility with digital wallets.
• Mastercard Platinum Credit Card Low-rate Mastercard credit card with APRs from 11.49% to 17.49%, no annual fee, credit limits up to $35,000, EMV chip security, and 24/7 Mastercard ID theft protection.
• Mastercard Rewards Credit Card Rewards Mastercard credit card offering bonus points on spending with variable APRs from 13.24% to 18.00% and redemption options for travel, gas, groceries, and gift cards.
• Auto Loans Vehicle financing for new and used cars, EVs, trucks, and vans with APRs as low as 5.39% for new vehicles and 5.49% for used vehicles, terms up to 96 months, and up to 100% financing of MSRP or NADA value.
• Boat Loans Marine financing for new and used boats up to 80% of MSRP or NADA value, with APRs starting at 7.24% and terms up to 240 months.
• Motorcycle Loans Financing for new and used motorcycles at APRs starting at 6.49% for new units, with terms up to 60 months.
• RV Loans Recreational vehicle financing for new and used RVs up to 80% of value, with APRs starting at 10.74% for used units and terms up to 180 months.
• Easy Everyday Loan Unsecured personal loan of up to $10,000 with a maximum APR of 7.84% and terms up to 24 months, intended for vacations, home improvements, or debt consolidation.
• Personal Loans Fixed-rate unsecured personal loans ranging from $500 to $35,000 with APRs as low as 10.04% and terms up to 60 months, with funds deposited directly to the member's SCU account.
• Personal Line of Credit Revolving unsecured credit line from $100 to $35,000 with a variable APR of 11.75%, minimum monthly payments of 2% of balance, and ongoing access to funds.
• Share Secured Loan Secured loan using the member's own savings as collateral, allowing borrowing up to 100% of the share balance while the underlying account continues to earn interest.
• Buy Now, Pay Later (BNPL) Debit-card-based installment payment option for purchases of $100 or more, splitting payments over 3, 6, or 9 months at 15% APR with a maximum combined outstanding of $2,500.
• Mortgages Fixed- and adjustable-rate purchase mortgages for primary and secondary residences in NY, NJ, PA, CT, DE, OH, NH, VT, GA, MD, FL, NC, and SC, including a $1,000 closing cost credit under the Suffolk Salutes offer.
• Mortgage Refinancing Home loan refinancing options to lower monthly payments, shorten the loan term, or access home equity through a cash-out refinance, available across multiple states.
• Home Equity Line of Credit (HELOC) Revolving credit line secured by home equity up to 80% LTV with an introductory APR as low as 5.44% for 15 months followed by a variable rate from 6.75%; credit limits range from $20,000 to $1,500,000.
• Home Equity Loans Fixed-rate lump-sum home equity loans up to 80% of appraised value, with no closing costs on loans up to $250,000 and repayment terms up to 10 years.
• Homebuyer Dream Program Grant program delivered in partnership with the Federal Home Loan Bank of New York offering up to $19,500 for down payment and closing costs plus up to $500 for required homeownership education for qualifying first-time homebuyers in New York.
• Mobile Banking iOS and Android mobile application providing real-time account access, internal and external transfers, bill pay, remote check deposit, card controls, Zelle, and digital wallet integration for members.
• Online Banking Comprehensive web-based banking platform offering bill pay, fund transfers, e-statements, wire transfer initiation, CreditScore+, Cashback+, Personal Financial Management tools, and Zelle integration.
• Interactive Teller Machines (ITMs) Video-assisted teller terminals located at branch locations that combine ATM functionality with live banker interaction, available during extended hours including evenings and Saturdays.
• Business Banking Commercial banking services for small businesses including business checking, business savings, commercial real estate loans, and support from a dedicated commercial lending team.
• Commercial Real Estate Loans Financing options for the purchase and development of commercial property, originated through the credit union's commercial lending team.
• Merchant Services Card payment processing services enabling business members to accept debit and credit card transactions at the point of sale.
• Payroll Services Payroll processing solutions for business members integrated with the credit union's business banking services.
• SpendTrack for Business Business expense tracking and card management solution for holders of the credit union's corporate cards.
• Cannabis Business Banking Specialized banking services for legally operating cannabis businesses, designed to comply with applicable state regulations and Bank Secrecy Act requirements.
• Retirement Planning Investment and retirement planning services delivered through Suffolk Investments, including portfolio management and IRA products.
• Debt Protection

Quantifiable outcome

• 6.00% APY on Youth Savings accounts (balances up to $2,500)
• +7 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

Feature4 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Federal Home Loan Bank of New York (FHLBNY)coreStrategic or Co-development PartnerSuffolk Credit Union partners with FHLBNY to offer the Homebuyer Dream Program (HDP), which provides grants of up to $19,500 for down payment and closing costs plus up to $500 for required homeownership education courses for qualifying first-time homebuyers in New York.
• Catholic HealthcoreGTM or Marketing PartnerCorporate partnership program providing workplace banking benefits to Catholic Health employees. Includes special checking account offers and financial services.
• Suffolk County Community College (SCCC)coreGTM or Marketing PartnerEducational institution partnership offering workplace banking and financial wellness programs for college employees and potentially students.
• Suffolk County Police Department (SCPD)coreGTM or Marketing PartnerLaw enforcement partnership providing special banking benefits including Partner Checking accounts for police department employees.
• Suffolk County Sheriff's Office (SCSO)minorGTM or Marketing PartnerSheriff's office partnership providing employee banking benefits through the corporate partner program.
• MoneyEducoreTechnology or IntegrationPartnership with MoneyEdu provides financial education content including workshops on budgeting, spending tracking, and mortgage education for Suffolk Credit Union members.
• SCAME (Suffolk County Association of Municipal Employees)minorGTM or Marketing PartnerMunicipal employees association partnership for workplace banking services.
• SCPBA (Suffolk County Police Benevolent Association)minorGTM or Marketing PartnerPolice benevolent association partnership providing banking benefits to members.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Bank of America: National bank with strong Long Island retail presence and broad consumer/small-business product suite. Competes for the same checking, savings, mortgage, and credit-card relationships as Suffolk.
• JPMorgan Chase: National full-service retail and commercial bank with significant Long Island branch presence. Competes with Suffolk for the same consumer and small-business banking relationships across deposits, mortgages, and credit cards.

Direct peers

• Island Federal Credit Union: Long Island-headquartered community federal credit union serving Suffolk County residents. Closely comparable on community-charter structure, branch footprint, and consumer banking/mortgage focus.
• Teachers Federal Credit Union: Long Island-based federal credit union serving education, healthcare, and municipal employees. Comparable multi-segment community charter, full deposit/lending suite, and similar Long Island geographic exposure.
• BECU: One of the largest U.S. community credit unions, member-owned not-for-profit, serving a defined employer/community membership. Comparable full deposit/lending suite and member-owned operating model.
• Connexus Credit Union: National community-chartered credit union with strong digital banking platform and full lending suite. Comparable as a digitally-forward, full-service community credit union competing against large national banks.
• Alliant Credit Union: Large, digitally-led national credit union offering high-yield deposits, credit cards, mortgages, and auto loans. Comparable full-service community-membership credit union with strong digital member experience.
• Kinecta Federal Credit Union: Community-chartered federal credit union headquartered in California with a comparable full deposit/lending suite and not-for-profit cooperative model serving defined membership segments.
• Bethpage Federal Credit Union: Long Island's largest credit union, headquartered in Bethpage, NY. Directly comparable as a community-chartered, full-service federal credit union serving Suffolk and Nassau Counties with similar deposit, mortgage, and branch banking offerings.
• PSECU: Pennsylvania-based state-chartered credit union serving public-sector and education employees. Comparable as a community-membership, full-service digital-first credit union with similar product breadth.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/suffolk-credit-union

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Suffolk Credit Union