Members First Newsletter

Second Quarter 2021

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Wayne N. Grossé President & Chief Executive Officer

Stay connected with Bethpage.

Spring is here, and with it comes hope of resuming some aspects of our pre-COVID lives. News of the vaccine becoming more widely available is extremely encouraging, and that, coupled with the warmer weather, has inspired us to get back outside and spend more time with family and friends. And, hearing that the Bethpage Air Show at Jones Beach is back this Memorial Day weekend was a signal to me that, while the pandemic is still far from over, we can finally see light at the end of what has been a very long tunnel.

The spring season has traditionally been a time for evaluating your home improvement needs. This may hold true this year more than ever. Do you need to create a home office, a space for home schooling, or a backyard retreat? We can help you finance those projects with a Bethpage Home Equity Line of Credit (HELOC). A Bethpage HELOC can also assist you with consolidating debt or funding a large expense you may have. Our loan specialists are available and happy to answer all of your questions about the loan process.

This time of year is also a great time to concentrate on your financial health. April is Financial Literacy Month, and Bethpage is your trusted resource for the education you will need to achieve your financial goals. We are excited to announce the launch of our upgraded web-based My Money 101^SM program! My Money 101 is our online financial education program designed to educate members about the basics of banking, the various products and services we offer, as well as the credit union difference. As part of the improved program, we have added new tutorials, more robust content, customizable learning based on user preferences, and an enhanced user experience and mobile-friendly design. To explore the upgraded program, please visit lovebethpage.com/mymoney101.

As we continue through these challenging times, I again want to express my gratitude for the patience and cooperation of all Bethpage members as we adapted and learned how best to serve you. Whatever your financial needs may be, we look forward to continuing to deliver exceptional service and value to you and the communities we serve.

Sincerely,
Wayne N. Grossé
President & Chief Executive Officer

Home is your safe place. Make it your happy place, too.

With a Home Equity Line of Credit from Bethpage, your home is what you make of it.

A Home Equity Line of Credit (HELOC) is an open line of credit based on the equity in your home. A HELOC often has a lower interest rate and more flexibility than other types of loans. You only use the money when you need it, and you only pay interest (during the draw period) on what you use.

2.99% APR^[1]

Fixed for 12 months.

3.25% APR^[2]

Prime for life, thereafter.

Application, origination, and appraisal fees
Closing costs on loans [3]
Low interest-only payments for the first 10 years (i.e., the draw period)

Use your HELOC how you need it, when you need it.

Home Improvements

You could use a HELOC to pay for your next home improvement project.

Student Loans & Tuition

A HELOC could fund tuition expenses or pay off student loans that have high interest rates.

Debt consolidation

A HELOC can help you consolidate and pay off loans or expenses, with a lower interest rate.

Life event fund

A HELOC can be a safety net, should you need to fund a life event or unforeseen expense.

For more details or to apply today, visit lovebethpage.com/heloc.

Serving your banking needs.

To best accommodate your banking needs, we recommend you take one or more of the following actions:

1. Check our website at lovebethpage.com/updates for the latest information on branch schedules and availability. Hours and services may be limited in some locations due to the pandemic.

2. Schedule an in-person, phone or video appointment for any of the following transactions that cannot be conducted with a teller or at the drive-up window:

Opening a new account
Applying for a loan
Account changes

Click here to make an appointment

3. Use Bethpage Online and Mobile Banking for transactions such as:

Paying bills
Transferring funds
Opening an account
Applying for a loan
Depositing a check

Free financial education at your fingertips.

My Money 101^SM is now better than ever! With updated course content and an improved mobile-friendly experience, learning the banking basics has never been easier.

These fast and free tutorials* will educate you on:

Checking & Savings
Home Loans
Credit Scores
Planning Your Future

And much more!

Start learning today at lovebethpage.com/mymoney101.

Paula, Branch Manager 14 years with Bethpage

Employee spotlight.

What roles have you had at Bethpage?

Teller, Head Teller, Loan & Member Service Representative, Assistant Branch Manager, Branch Manager.

How do you enrich lives?

I look for opportunities to help both teammates and members realize their dreams.

Why should someone be a Bethpage member?

Bethpage cares about what people care about; we help people with their financial goals. In my opinion, we have the best service that any financial institution can offer. In addition, we are a member-owned credit union, which allows us to provide lower rates on loans and better returns on deposit products. Becoming a member allows an individual to take advantage of these great products and services.

Are you involved in any clubs or volunteer opportunities at Bethpage?

I have not volunteered since the pandemic, but I usually volunteer at events like the Air Show, Habitat for Humanity, The Mary Brennan Inn, and the Turkey Drive. I actually won an award for my volunteer work in 2010.

How has the pandemic changed the way you work?

I have had the opportunity to assist members remotely and connect with them and my employees in different ways. I have the opportunity to work from home at times, which is an entirely new experience.

3 words that describe Bethpage?

Caring, family, friendly.

What do you like to do when you’re not in the office?

I watch a lot of reality TV shows and research vacation destinations.

For more employee spotlights, and other Bethpage content, follow us on social media.

2021 Bethpage Air Show at Jones Beach State Park.

The Bethpage Air Show at Jones Beach is back this Memorial Day weekend!

The show will take place:
10AM – 3PM
Saturday, May 29
Sunday, May 30

Please note:

Due to the ongoing pandemic, this year’s show will have a limited capacity, and social distancing guidelines will be followed. Parking passes must be purchased in advance to attend the show.

For more information, please visit bethpageairshow.com or follow us on Facebook at facebook.com/bethpageairshow.

Be sure to download the official Bethpage Air Show app to your iOS or Android device!

Northwell Health Walk.

Bethpage is proud to be the presenting sponsor of the 2021 Northwell Health Walk, Hometown Edition, on Sunday, May 23! Each year, the Northwell Health Walk brings people together to help keep our communities healthy. Even though we cannot get together at Jones Beach this year, we can still walk.

This year, register for the walk as an individual, or bring your friends/family/coworkers along and register as a team. Once registered, choose where you want your funds to go, and then it’s time to start training and fundraising!

In the week leading up to the walk, you’ll be able to visit a dedicated event site with games, activities, loads of information, and a chance to connect with fellow walkers. Join together on May 23 to watch an inspiring opening ceremony, and then hit the streets – your streets – for your walk!

For more information about this year’s Northwell Health Walk, and to register, please visit northwellhealthwalk.com.

Bethpage Difference Makers.

The Bethpage Difference Makers program was designed to empower young individuals to come together and become more involved by linking their passions with the needs of local communities. Difference Makers invests in our children with empowerment grants to be used for special projects to make positive change in the areas we serve.

Elana Greim of Glen Cove High School requested grant money for her Environmental Club, with a goal of implementing a school recycling program. With help from the Difference Makers grant, Elana and her club were able to purchase recycling bins for 115 classrooms. These bins help collect plastic bottles, which, in turn, help keep the school cleaner and contribute to a more sustainable environment. Club members and volunteers from other community service clubs in the school help empty the bins and bring them to local redemption centers each week. Elana believes that it is more important than ever to create this recycling program in an effort to combat global warming, and to help make the Earth a cleaner place, one step at a time.

These results and passionate individuals are the exact reason Bethpage created the Difference Makers program! Our hope is to inspire others to effect positive change in their communities, too. If you know an ambitious child or youth group looking for financial support to bring their big ideas to life, visit lovebethpage.com/differencemakers for more information or to apply for a grant!

[1] APR = Annual Percentage Rate. The introductory APR is fixed for one year (twelve months). After one year, the APR is variable based on the U.S. Prime Rate as published in the Wall Street Journal, plus a margin. To obtain an introductory rate, borrower must meet credit and loan program requirements, including (but not limited to): 1) maximum Combined Loan-to-Value (CLTV) of 75%, 2) borrower must take an initial draw of $25,000 and maintain this balance for 12 months, 3) borrower must have automatic transfers from a Bethpage personal savings or checking account for the monthly HELOC payments, and 4) borrower must not have had a previous introductory rate for a Bethpage HELOC within the past five years. The introductory rate applies to the variable line in use only.

[2] The Prime APR is variable based on the U.S. Prime Rate as published in the Wall Street Journal, plus a margin (if applicable). Rate shown assumes borrower(s) with excellent credit, borrower(s)’ primary residence is used as collateral, a maximum CLTV of 65%, a minimum initial draw of $25,000 taken at HELOC account opening, and automatic payments from a Bethpage personal savings or checking account. The minimum floor APR is 3.25%. HELOCs are variable rate products and rates may not exceed the maximum legal limit for Federal credit unions (currently 18%). The Prime Rate as of 4/20/2021 = 3.25%.

[3] Closing costs for the first $500,000 will be paid by Bethpage Federal Credit Union (Bethpage), but must be repaid by the borrower(s) if the HELOC is closed within first 36 months of account opening. Loan amounts over $500,000 may be available on a case-by-case basis to qualified applicants, are not eligible for the discounted introductory rate at any time, and the borrower(s) will be responsible for mortgage tax and title insurance costs on the loan value portion over $500,000.

Rates and terms are subject to change without notice. All offers of credit are subject to credit approval requirements and applicants may be offered credit at higher rates and other terms. Loan-to-Value (LTV) and/or Combined LTV (CLTV) restrictions apply. Hazard insurance is required on all loans secured by real property (flood insurance may also be required where applicable). Consult a tax professional regarding the potential deductibility of interest. Bethpage does not currently offer HELOCs in Texas. Membership at Bethpage is required by opening a minimum $5 share savings account at or prior to HELOC account opening.