TIAA Direct

211 North Broadway, Suite 1000
St. Louis, MO 63102
www.tiaa-cref.org

TIAA Direct is headquartered in Saint Louis and is the 32nd largest bank in the state of Missouri. It is also the 969th largest bank in the nation. It was established in 1998 and as of March of 2012, it had grown to 74 employees at 1 location. TIAA Direct's money market rates are 3X the national average, and it boasts a 5-star health rating.

Related Posts

Confirming that TIAA Direct Accounts Are FDIC Insured - 4/17/2012

In short, yes, TIAA Direct deposit accounts are FDIC insured up to the FDIC limits. I think most readers understand this, but I have received a few emails asking about this. Thus, I thought it would b ...

Update on TIAA Direct and Its Savings Account - 4/10/2012

When TIAA-CREF launched its new internet bank TIAA Direct last February, the launch didn't go smoothly. Many readers tried to apply for the TIAA Direct 1.25% savings and money market accounts. Some we ...

TIAA Direct Statement Shows Lower Interest Rate? (Forum) - 3/17/2012

A reader who opened the TIAA Direct account last month emailed me the following. Has anyone else had this same problem? Here is a question for invesigation.  The APY for a high yield savings account at TIAA Savings Bank is 1.25%. The printed statemen

TIAA-CREF Launches New Internet Bank with Top Savings Account Rate - 2/20/2012

TIAA-CREF has entered the internet banking market last week with its launch of TIAA Direct . It was a quiet launch with no apparent press release. I learned about it from a reader's email (Thanks!). T ...



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See Rates for: Checking | Savings | Money Market | CD

TIAA Direct Checking Account Rates

ApyMinMaxProduct
0.15%$25k-Interest Checking

TIAA Direct Savings Account Rates

ApyMinMaxProduct
1.25%--High Yield Savings

TIAA Direct Money Market Rates

ApyMinMaxProduct
1.25%--Money Market

TIAA Direct CD Rates

ApyMinMaxProduct
1.06%$1k-2 Year CD
0.90%$1k-1 Year CD
0.35%$1k-6 Month CD

Rates updated: 5/27/2012

Data for Q1 2012


Institution Statistics


TIAA-CREF Trust Company, FSB
FDIC Certificate #34723
BankRate ReportView
Year Established1998
Employees74
Primary RegulatorOCC

Assets and Liabilities

Assets$681.31 million
Loans$4.14 million
Deposits$564.11 million
Equity Capital$60.85 million
Loan Loss Allowance$39,000

Historic Data - March 2011

Assets$330.90 million
Equity Capital$53.01 million

Profit Margin - Quarterly

Net Interest Margin1.36%
Return on Assets0.38%
Return on Equity3.77%
Interest Income$2.16 million

Institution Health


Overall Score:
5 out of 5
5
Texas Ratio5
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 March 31, 2012 TIAA Direct had $0 in non-current loans and owned real-estate with $60.89 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 Growth5
In the past year, TIAA Direct has increased its total deposits by $290.48 million, resulting in 106.16% 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 excellent.
Capitalization3
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 $681.31 million in assets with $60.89 million in equity, resulting in a capitalization level of 8.94%, which is average.
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