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Overview / Commentary
574-284-6247
110 S Main St
South Bend, IN 46601-1805

Teachers Credit Union is headquartered in South Bend and is the largest credit union in the state of Indiana. It is also the 61st largest credit union in the nation. It was established in 1931 and as of March of 2017, it had grown to 636 employees and 292,129 members at 52 locations. Teachers Credit Union has an A health rating.

Field of Membership Restrictions

Membership in Teachers Credit Union is open to anyone who lives or works in Indiana or in Berrian or Cass counties in Michigan. (Membership requirements are listed in the online application)
See current membership details

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Reviews (3)

Not a very good credit union.

Posted by: Deon | Jul 1, 2015

I used to have an account at Teacher's Credit Union I closed it down about two years ago because I was not satisfied with them at all. When I banked with them I had a checking and savings account and always had to wait in an incredibly long line. Even if they weren't busy I still had to wait a long time. They are a very slow credit union. Like most banks and credit unions out there they charge you to hold an account with them, which I don't like. The last time I was there I had canceled my checking account through them and wanted to deposit a check into my savings account and they said they had to charge me because I no longer had a checking account through them so I canceled my savings account too. I would not recommend them to anyone.

Frustrating Unprofessionalism

I have been with Teachers Credit Union (TCU) for 9 years. For the first 6 years, I never had a single issue with the bank. After I graduated from college and moved to Chicago, and stopped having a face-to-face relationship with the tellers and bankers, things really went south quickly.

Last year, when I called the institution after having a fraudulent check written and cashed from my checking account, I was initially told by the customer representative that "my voice didn't sound like the picture of the account holder" and that she could not give me any information. In other words, my voice sounded like a woman's and because my driver's license shows that I am a man, they did not think that it was actually me calling (even though I verified my member number, my address, and last 5 of my SSN). By the end of the call, it came to light that the rep interpreted my call as another attempt to defraud the account. When I called back to speak to a manager, the manager was more unprofessional than the front-line rep was. Ultimately, the check amount was credited back to my account, after having to spend my own money to get documents notarized and faxing them over.

This year, when I lost my debit card, and someone proceeded to use it for fraudulent transactions (almost $500 worth) the credit union refused to credit my account and return my money to me. Even though I submitted a police report, they told me that I had to call the merchants myself and try to get refunds that way. Some of the merchants ultimately did not provide refunds, as that responsibility, they asserted, lies with the bank. I am currently working with NCUA to get the rest of my funds returned to me, 6 weeks after the fraud took place.

There have been other miscellaneous quality issues of the years as well. A lot of TCU's problems started when they went from Visa debit cards to MasterCard. I can't tell you how many times I had to get my debit card replaced (and wait several days for its arrival) because the black magnetic strip stopped working. Additionally, after they transitioned to a new website and app a back around 2015, the quality of their online banking decreased drastically. If you check the App Store, for instance, you will see how low of a rating their app has. When they replaced Finance Works with My Money Manager (M3), that was another blow to the experience as the M3 platform rarely works as it should.

Overall, if you live in the Northern Indiana / Southwest Michigan area, and are able to work with the bank face-to-face, it is not a bad place to keep your money. However, if you move out of that area, I would not recommend keeping your account as their call center and online banking experiences are sub-par at best.

Horrible Service By Phone Or Internet - Avoid If You Don't Like Wasting Time With A Bunch Of Idiots

Posted by: Fred Derf | Aug 5, 2015

title says it all - absolutely hopeless - has taken almost a week to do one online transfer



Health

Health Grade Components

Overall
NCUA #60060
Year Chartered1931
Employees636
Primary Regulator
Profit Margin
Return on Assets - YTD0.57%
Return on Equity - YTD7.16%
Annual Interest Income$22.7MM
Assets and Liabilities
AssetsQ1 2017vs Q1 2016$3.11B$2.92B
LoansQ1 2017vs Q1 2016$2.65B$2.43B
DepositsQ1 2017vs Q1 2016$2.44B$2.28B
Equity CapitalQ1 2017vs Q1 2016$245.9MM$233.4MM
Loan Loss AllowanceQ1 2017vs Q1 2016$17.8MM$16.9MM
Unbacked Noncurrent LoansQ1 2017vs Q1 2016$2.9MM$4.3MM
Real Estate OwnedQ1 2017vs Q1 2016$748.00K$5.3MM
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Teachers Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%--Health Savings Account
0.25%*$50k*-Tiered IRA
OTHER TIERS: 0.10% $1,500 - $10k | 0.15% $10k - $20k | 0.20% $20k - $50k
0.25%--IRA Share
0.20%*$10k*-Regular Share
OTHER TIERS: 0.10% Up to $2,500 | 0.15% $2,500 - $10k
0.20%*$10k*-Choice Savings
OTHER TIERS: 0.10% Up to $2,500 | 0.15% $2,500 - $10k
0.19%$25-Savers Club
0.10%--Holiday Club

Teachers Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.39%*$250k*-Premium Money Market Account
OTHER TIERS: 0.20% $25k - $50k | 0.24% $50k - $100k | 0.30% $100k - $250k
0.24%*$50k*-Money Market
OTHER TIERS: 0.14% $2,500 - $25k | 0.22% $25k - $50k

Teachers Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.15%*$50k*-World Checking
OTHER TIERS: 0.05% Up to $50k

Teachers Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.04%$1k-59 Month Special CD
1.61%$1k-35 Month Special CD
1.41%$1k-72 Month CD
1.26%$1k-60 Month CD
1.05%$1k-48 Month CD
0.90%$1k-36 Month CD
0.80%$1k-30 Month CD
0.72%$1k-24 Month CD
0.65%$1k-18 Month CD
0.57%$1k-12 Month CD
0.46%$1k-6 Month CD
0.41%$1k-3 Month CD

Teachers Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.04%$1k-59 Month Special IRA
1.61%$1k-35 Month Special IRA
1.41%$1k-72 Month IRA
1.26%$1k-60 Month IRA
1.05%$1k-48 Month IRA
0.90%$1k-36 Month IRA
0.80%$1k-30 Month IRA
0.72%$1k-24 Month IRA
0.65%$1k-18 Month IRA
0.57%$1k-12 Month IRA
0.46%$1k-6 Month IRA
0.41%$1k-3 Month IRA
Locations

Teachers Credit Union has 52 locations. Click to view all Teachers Credit Union locations.