Almost a month later, our communities are still feeling the effects of Hurricane Sandy, which brought devastation and economic hardships to Long Island residents. Governor Cuomo stated earlier this month that the storm destroyed or damaged more homes, affected more businesses and caused more customers to lose power than any other hurricane in the past. The storm will also cost New York State an estimated $42 billion.
For this reason, NEFCU, a leading credit union serving all of Long Island’s banking needs, stands ready to assist its members and residents. We know that restoration will be a process requiring both time and money and we want to work with you to rebuild our community together one day at a time.
We are offering a variety of special loan programs for those impacted by the storm to help ease financial burdens.
- The Hurricane Relief Loan: Provides members with a low fixed interest rate of 1% APR for the first year and an optional 90-day deferral of the first payment. After one year, the rate will revert to the prevailing rate on the day of the application, as low as 9.49% APR.
- Auto Loan Discount: Members who purchase a quality pre-owned vehicle from Enterprise Car Sales will receive a full 1% discount off NEFCU’s already low rates and an optional 90-day deferral of the first payment.
- Auto Loan Payment Deferral: Members applying for any NEFCU Auto Loan will receive an optional 90-day payment deferral.
- 0% Rate on Credit Card Home Improvement Purchases: Members receive a 0% APR for six months on all purchases made at major home improvement retailers by using the NEFCU Platinum VISA® Credit Card.
In addition, NEFCU has been approved as a Small Business Loan Expeditor providing us with the ability to expedite loans to help those recovering from the devastation of Hurricane Sandy. This will allow us to streamline the loan application and underwriting process with the singular goal of making business loans and lines of credit readily available to you. Business members can also benefit from a 0% APR** for 6 months on all purchase made with a NEFCU VISA® Platinum Credit Card at major home improvement retailers.
For specific information about NEFCU’s business lending solutions, contact Andrew Saluk at 516-714-2965. For assistance with consumer loans or to answer your hurricane related questions, call 516-714-2928 or visit www.myNEFCU.org.