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631-698-7000
P.O. Box 9005
Smithtown, NY 11787

Teachers Federal Credit Union is headquartered in SMITHTOWN and is the 2nd largest credit union in the state of New York. It is also the 21st largest credit union in the nation. It was established in 1952 and as of December of 2013, it had grown to 515 employees and 234,575 members. Teachers Federal Credit Union's money market rates are 14% higher than the national average, and it has a A health rating.

Field of Membership Restrictions

TFCU offers financial services to all people and businesses located in Nassau and Suffolk Counties. Membership is open to those who live, work (or regularly conduct business in), worship, or attend school in and businesses and other legal entities located in Nassau County, New York, or the following portions of Suffolk County, New York can join TFCU: Town of Huntington; Town of Babylon; Town of Smithtown; Town of Islip; Town of Brookhaven; the Poospatuck Reservation; Town of Riverhead; or Town of Southold. Once you become a TFCU member, your family members are also eligible to join, too, and enjoy the complete range of financial products and services we offer. TFCU will continue to serve all current members and their families. - See Details

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Reviews (1)

All Around Excellent Credit Union

Teachers Federal Credit Union is an amazing credit union. I have been using them for most of my money for the past 5 years. The rates are excellent, and the fees are extremely low. They have CDs which seem to be fairly average, and a money market account with decent yeilds. One of the best features of this bank is the low minimum, it was $1 when I first started, and I believe it still is. Still, if you keep at least $5000, they give you great benefits like free checking. The service is pretty good, they have always been nice and courteous. They are allied to a large number of other credit unions, so it's easy to get your money wherever you are, and there are a number of free ATMs. It's not just for teachers anymore! I heartily recommend Teachers, especially if you are closeby to a branch. If you go to Stony Brook University, you definitely should have an account at teachers.



Health

Data for Q4 2013

Institution Health

A

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 Teachers Federal Credit Union had $12.37 million in non-current loans and owned real-estate with $491 million in equity and loan loss allowances on hand to cover it. This gives Teachers Federal Credit Union a Texas Ratio of 2.52% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for Teachers Federal Credit Union experienced no significant changes from 2.76% as of December 31, 2012 to 2.52% as of December 31, 2013, resulting in a positive change of 8.68%.This indicates that the balance sheet and financial strength for Teachers Federal Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
B+

In the past year, Teachers Federal Credit Union has increased its total deposits by $119.5 million, resulting in 2.81% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Teachers Federal Credit Union has shown is above average.

Capitalization

GRADE:
B+

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Teachers Federal Credit Union has $4.85 billion in assets with $491 million in equity, resulting in a capitalization level of 10.12%, which is above average.

Institution Statistics

Overall
NCUA #8116
Year Chartered1952
Employees515
Primary Regulator
Assets and Liabilities
Assets$4.85 billion
Loans$1.98 billion
Deposits$4.37 billion
Equity Capital$463.19 million
Loan Loss Allowance$27.81 million
Unbacked Noncurrent Loans$12.17 million
Real Estate Owned$194,000
Historic Data - December 2012
Assets$4.70 billion
Equity Capital$427.43 million
Loan Loss Allowance$25.81 million
Unbacked Noncurrent Loans$12.17 million
Real Estate Owned$421,000
Profit Margin - Quarterly
Net Interest Margin3.1%
Return on Assets0.74%
Return on Equity7.79%
Interest Income$114.78 million
Rates

Always verify rates and promotions with the bank or credit union. We are not Teachers Federal Credit Union, we are a rate comparison website and can not provide official rates or promotions.

Teachers Federal Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.30%$50-Share Savings
0.30%$50-IRA Savings
0.30%$50-Holiday Club
0.30%$50-Roth IRA Savings
0.30%$50-Coverdell Education Savings Account
0.30%$50-Vacation Club

Teachers Federal Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.50%$100k-Tiered Money Market

Teachers Federal Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.15%$2,500-Checking

Teachers Federal Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.55%$1k-60 Month CD
1.45%$1k-48 Month CD
1.30%$1k-36 Month CD
1.10%$1k-30 Month CD
1.00%$100k-16 Month Jumbo CD
1.00%$1k-16 Month CD
1.00%$1k-24 Month CD
0.55%$100k-8 Month Jumbo CD
0.55%$100k-12 Month Jumbo CD
0.55%$1k-12 Month CD
0.45%$100k-6 Month Jumbo CD
0.45%$1k-6 Month CD
0.30%$100k-1 Month Jumbo CD
0.30%$100k-2 Month Jumbo CD
0.30%$100k-3 Month Jumbo CD
0.30%$1k-3 Month CD

Teachers Federal Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.55%$1k-60 Month Traditional IRA (Traditional,Roth)
1.55%$500-60 Month CESA
1.45%$1k-48 Month Traditional IRA (Traditional,Roth)
1.45%$500-48 Month CESA
1.30%$1k-36 Month Traditional IRA (Traditional,Roth)
1.30%$500-36 Month CESA
1.10%$1k-30 Month Traditional IRA (Traditional,Roth)
1.10%$500-30 Month CESA
1.00%$1k-16 Month Traditional IRA (Traditional,Roth)
1.00%$1k-24 Month Traditional IRA (Traditional,Roth)
1.00%$500-16 Month CESA
1.00%$500-24 Month CESA
0.55%$1k-12 Month Traditional IRA (Traditional,Roth)
0.55%$500-12 Month CESA
0.45%$1k-6 Month Traditional IRA (Traditional,Roth)
0.45%$500-6 Month CESA
0.30%$1k-3 Month Traditional IRA (Traditional,Roth)
0.30%$500-3 Month CESA
Locations

Teachers Federal Credit Union has 25 locations. Click to view all Teachers Federal Credit Union locations.