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211 North Broadway, Suite 1000
St. Louis, MO 63102

TIAA Direct is the banking component and brand of TIAA-CREF Trust Company. The Trust Company is a subsidiary of TIAA-CREF, a Fortune 100 financial services company that was born out of an act of the New York State Legislature in 1918 to provide life insurance to college professors. TIAA Direct operates as a bank offering depository and lending products and services to individual consumers.

The bank’s products consist of an interest checking account, a high yield savings account, Money Market accounts, and Certificates of Deposit (CDs) on the deposit side, and mortgage and home equity loans on the lending side. The checking account has no minimum balance requirements and no monthly fees, and can be opened with a minimal initial deposit. Free checks, a debit card, and a competitive interest rate also come with the checking account. The high yield savings account offers one of the top interest rates nationally available and comes with no monthly fees or minimum balance requirements. reported that in December 2012 the bank began allowing customers to designate beneficiaries to their savings accounts. Money Market accounts offer similar options and rates to that of the savings account and allow for check writing ATM withdrawal as well. ACH transfer limits on both the savings and Money Market accounts were lowered significantly at the beginning of 2013. Three CDs are offered in term lengths of 6 months, 1 year, and 2 years. The rates on these CDs are also competitive along with TIAA Direct’s other account offerings. The bank is able to be competitive because it has no overhead costs associated with operating physical branches.

TIAA Direct online banking is a secure and convenient system through which accounts can be opened and managed. Online statements are available to be view through the system and tasks like Bill Pay, remote deposit, money transfers, and direct deposit can be accomplished. Mobile banking provides the same functions plus remote deposit via the camera of a smartphone or tablet device.

TIAA-CREF Trust Company was established in 1998 as the corporation sought to get into the retail banking business. TIAA-CREF is an acronym for Teachers Insurance and Annuity Association – College Retirement Equities Fund. TIAA Direct is the banking front of the Trust Company and is headquartered in St. Louis, Missouri. The bank manages its customers’ accounts exclusively through its online banking system and has no physical branches.

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Reviews (1)

Waste Of Time

I contacted TIAA Direct about opening a home equity line of credit so I could purchase a second home for work purposes. I have a very good job, my credit rating is excellent ,and I already own my primary residence, which is in another state, free and clear. After taking a considerable amount of time talking with the representative and completing the application, I later learned that my application was more or less disqualified, apparently because I am already renting an apartment (instead of staying in a hotel) in the city where I would like to purchase the second residence. Very strange. I guess they aren't really looking for qualified people to lend money to.


Data for Q4 2013

Institution Health


Texas Ratio


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 TIAA Direct had $0 in non-current loans and owned real-estate with $304.78 million in equity and loan loss allowances on hand to cover it. This gives TIAA Direct a Texas Ratio of 0.00% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Deposit Growth


In the past year, TIAA Direct has decreased its total deposits by -$257.87 million, resulting in -12.74% 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 TIAA Direct has shown is poor.



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. TIAA Direct has $2.41 billion in assets with $304.78 million in equity, resulting in a capitalization level of 12.62%, which is excellent.

Institution Statistics

FDIC Certificate #34723
Year Established1998
Primary RegulatorOCC
Assets and Liabilities
Assets$2.41 billion
Loans$804.90 million
Deposits$1.77 billion
Equity Capital$294.71 million
Loan Loss Allowance$10.08 million
Real Estate Owned$0
Historic Data - December 2012
Assets$2.31 billion
Equity Capital$268.88 million
Loan Loss Allowance$1.20 million
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin0.59%
Return on Assets-1.29%
Return on Equity-10.5%
Interest Income$24.53 million

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

TIAA Direct Savings Account Rates

0.40%--High Yield Savings

TIAA Direct Money Market Rates

0.50%$50k-Money Market

TIAA Direct Checking Account Rates

0.15%$25k-Interest Checking

TIAA Direct CD Rates

1.49%$1k-60 Month CD
1.20%$1k-36 Month CD
1.08%$1k-24 Month CD
0.95%$1k-18 Month CD
0.94%$1k-12 Month CD
0.80%$1k-13 Month CD
0.80%$1k-25 Month CD
0.80%$1k-30 Month CD
0.65%$1k-9 Month CD
0.60%$1k-6 Month CD

TIAA Direct is an Internet only bank and does not have branch locations. Its headquarters is located at 211 North Broadway, Suite 1000 - St. Louis, MO 63102