First Time Home Buyers Club

Getting ready to buy your first home? We see it, too.

At Suffolk Federal, we know how exciting it is to be searching for your first home. We also know how important it is to save ahead of time for all of the costs involved. That’s why we’ve created the First Time Home Buyers Club Account, that not only helps you save, but rewards your efforts too!

It’s simple. Increase the net savings in your Club account* by $100 each month and after 12 months, we’ll give you an extra $750 towards your closing costs. Save for 24 months and we’ll make it $1,250! Offering a savings plan is only one way Suffolk Federal can help you reach the goal of buying your first home. Our team is here to support your home purchase every step of the way by giving you all the information you really need.

Join us to learn more about Suffolk Federal’s First Time Home Buyers Club as we partner with experts who can guide you through Long Island’s real estate, mortgages, contracts and closing, and managing household finances.

* This savings club account requires 12 to 24 minimum consecutive $100 monthly deposits, and completion of a home buying education course in return for closing cost assistance on a Suffolk Federal mortgage loan. Open to qualifying credit union members who have not been an owner of record of a home for at least 36 months from the date of their club enrollment with a $100 minimum opening balance. $10 fee per withdrawal (could subject participant to loss of closing benefits). Speak to a Suffolk Federal representative for full details. Membership in Suffolk Federal requires a Share Savings Account with a $5.00 minimum balance. Must live, work or worship in Suffolk County, NY to be eligible for membership. Suffolk Federal is an equal housing lender.

Holiday, Vacation, and Tax Time Club Accounts

Holiday Club Account*
Suffolk Federal's Holiday Club Account makes saving—and shopping—for the holiday season a whole lot easier. Funds are transferred to your Savings account each year the first week in October so you can let the shopping begin! (An early withdrawal fee of $10 per withdrawal will be imposed.)

Vacation Club Account*
Our Vacation Club Account provides you the same opportunity as your Holiday Club Account, but with much more flexibility. Not only can you save for that much-needed getaway, but also for just about anything else you can think of. You can make one withdrawal per month. (If more than one withdrawal is made per month, an excess withdrawal fee of $10 per withdrawal will be imposed.)

Tax Time Club Account*
Looking for an easy way to save for property taxes or even potential Federal and State taxes that you might owe? Suffolk Federal's Tax Time Club Account makes it simple. Save for your taxes today! (If more than one withdrawal is made per quarter, an excess withdrawal fee of $10 per withdrawal will be imposed.)

How do Suffolk Federal Club Accounts Work?
You can open any Suffolk Federal Club account with just $5. Then, you decide how much you would like to deposit, any time, through Direct Deposit, Payroll Deduction or by stopping by any of our convenient branch locations. You can also transfer funds from any of your Suffolk Federal accounts by our Member Telephone Service (MTS)PDF File Download or by Online Banking too!

To learn more about our Holiday, Vacation or Tax Time Club accounts, contact us at 631.204.3119 or visit one of our convenient branch locations throughout Suffolk County, Long Island, NY.

* Club accounts require minimum opening balance of $5. Minimum balance to earn dividends is $100. Dividends are calculated on daily balance and credited monthly. See current rates at for annual percentage yield paid on balances.

This credit union is federally insured by the National Credit Union Administration.