First Home Club

At Suffolk Federal, we know how exciting it is search for your first home. We also know how important it is to save ahead of time for all of the costs involved. To support you in your first home-buying experience, we now offer the Federal Home Loan Bank of New York's First Home Club, designed to assist moderate and low income first-time home buyers in the purchase of a home.

For each $1 saved, eligible members can receive $4 in matching grant funds (up to $7,500*) to use towards your down-payment and your closing costs.

First Home Club Important Links

At Suffolk Federal, we're committed to helping you achieve your vision of homeownership, because we see it too. Our mortgage experts provide the financing options you need, while treating you with the respect and dedication that all of our members deserve. To learn more, call 631.924.8000 or email us at

Should you not qualify for the FHC program, Suffolk Federal additionally offers the First Time Home Buyers Club account.

* A First Time Home Buyer is defined as an individual and his or her spouse who have not owned a home during a 3-year period prior to the purchase of the new home. This is a program of the Federal Home Loan Bank of New York and may be subject to change at any time.

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.