Teachers Federal Credit Union


Overview / Commentary
631-698-7000
102 Motor Pkwy
Hauppauge, NY 11788

Teachers Federal Credit Union is headquartered in Hauppauge and is the 3rd largest credit union in the state of New York. It is also the 27th largest credit union in the nation. It was established in 1952 and as of September of 2022, it had grown to 850 employees and 444,027 members at 32 locations. Teachers Federal Credit Union's money market rates are 5X the national average, and it has a B+ health rating.

Field of Membership Restrictions

Membership in Teachers Federal Credit Union is open to anyone, regardless of residency status. The only requirement is a $1 deposit.
See current membership details

Related Posts

Teachers Federal Credit Union - 16 Month @ 3.25% And 30 Month @ 3.50% - 9/22/2022

New CD Specials (not available for IRAs): - 16 Month @ 3.25% - 30 Month @ 3.50% https://www.teachersfcu.org/rates/certificates-and-iras

Teachers Federal Credit Union Has New Member Bonuses Up To $400 - 5/27/2022

Teachers Federal Credit Union (easy membership) is offering up to $400 in bonuses to new members opening a new checking account. Available through July 31, 2022.

Teachers FCU Increases Rates For Its 18 Month To 60 Month Cds (IRAs Included) - 5/4/2022

Effective 5/4/2022. Minimum $1k. 18 Month 1.25% (was 1.00%) 24 Month 1.50% (was 1.40%) 30 month 1.75% (was 1.40%) 36 Month 2.00% (was 1.55%) 48 Month 2.00% (was 1.60%) 60 Month 2.50% (was 2.00%) https://www.teachersfcu.org/rates

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IRA Customer Service

Posted by: |

Always eager to help and knowledgeable . Out of all the IRA customer service representatives I had come across, IMO, Teachers FCU outranks the other credit unions.

Community Oriented

Super happy with the quality of service and consistency not only does teacher fcu participate with all-point network and shared branch banking this location has safety deposit boxes. “Nirmal”one of the member representative bankers provides exceptional 5 star service helped me with everything from upgrading my services to educated choice to also helping my fiancé open membership all whilst providing good communication and consistency in service and perks. So happy i connected with Teachers and looking forward to growing my relationship with yall thanks….Only thing is i know they took over melrose credit union but the atms need serious work from easier options to manage accounts to better like 1,5,10 etcs and maybe the option to email receipts or text them helps to be part of a credit union thats not so paper friendly thats wasteful but their great specially if your friendly too and in the mindset of being part of a community. Bc thats what credit unions are for. Their not big banks and definitely not for those who are into self education

Marketing You Can't Get Out Of

Posted by: |

Have a CD here, no issues with it so far, ended up a refugee from Melrose which was taken over by Teachers. Haven't had much interaction with them of course, being a CD.

Just got an email and I absolutely HATE their privacy policy, they do not allow you to opt out of anything including their sharing data with affiliates for marketing. Might not be a big deal to some but I have had nightmare situations where a bank or other company sent info about me to someone who should not have had that info.

Why can't banks stick to banking and keep your data to themselves? I know privacy is hard to get nowadays but I will never give in and remain a warrior against such things. You'd think of all the institutions out there at least banks could be trusted with privacy... apparently not.

Won't be sending them any more funds.

Great Rates but Terrible Accuracy

I started out with this credit union because accounts were offered through my employer. It seemed nice that htey recommended a local bank that afforded me free checking, direct deposit, free access to ATMs all over the area, and the possibility of being able to get a car or home loan in the future at very low rates.
I enjoyed their service at first - but then things began to go sour. Within three months of using their service I began to notice problems. First my direct deposit was input several days late. Then the balance in my bank account appeared to have been incorrectly input. Instead of $2000 dollars, it showed $200! Their website was slow, inaccurate, and failed to be updated in a timely fashion. It was down more than it was working! Finally, after months of calls to customer service (who were all very nice and very apologetic) I gave up. I could not go about my daily business having so many errors to clean up, and I could not be sure that my money was secure. I had to move to a commercial bank, and as a result, I have not seen an error on my bank account since.

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Health
B+

Health Grade Components

Overall
NCUA #8116
Year Chartered1952
Employees850
Primary Regulator
Profit Margin
Return on Assets - YTD0.87%
Return on Equity - YTD11.14%
Annual Interest Income$202.3MM
Assets and Liabilities
AssetsQ3 2022vs Q3 2021$9.20B$8.74B
LoansQ3 2022vs Q3 2021$5.98B$5.15B
DepositsQ3 2022vs Q3 2021$7.94B$7.81B
Equity CapitalQ3 2022vs Q3 2021$703.0MM$787.4MM
Loan Loss AllowanceQ3 2022vs Q3 2021$45.7MM$37.1MM
Unbacked Noncurrent LoansQ3 2022vs Q3 2021$40.9MM$16.6MM
Real Estate OwnedQ3 2022vs Q3 2021$0$0
Rates
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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 cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Teachers Federal Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.00%*$1$1kYouth Savings Account
OTHER TIERS: 0.10% $1k+
0.10%$50-Savings
0.10%$50-IRA Savings
0.10%$50-Holiday Club
0.10%$50-Vacation Club

Teachers Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.00%*$500k*-Tiered Money Market
OTHER TIERS: 0.50% $2.5k - $25k | 1.00% $25k - $100k | 1.50% $100k - $250k | 1.75% $250k - $500k
0.10%$2.5k-Business Tiered Money Market

Teachers Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.00%*-$15kSmart Checking
OTHER TIERS: 0.10% $15k+
0.05%$2.5k-Checking

Teachers Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.25%$1k-16 Month CD
4.25%$1k-9 Month CD
4.00%$1k-6 Month CD
4.00%$1k-30 Month CD
3.50%$1k-36 Month CD
3.50%$1k-48 Month CD
3.50%$1k-60 Month CD
3.00%$1k-3 Month CD
3.00%$1k-12 Month CD
2.75%$100k-6 Month Jumbo CD
2.75%$1k-24 Month CD
2.65%$1k-18 Month CD
2.25%$100k-12 Month Jumbo CD
2.25%$100k-9 Month Jumbo CD
2.10%$1k-15 Month CD
1.65%$1k-22 Month CD
1.00%$100k-3 Month Jumbo CD
0.25%$100k-1 Month Jumbo CD
0.25%$100k-2 Month Jumbo CD

Teachers Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.90%$1k-60 Month IRA
2.90%$500-60 Month CESA
2.80%$1k-48 Month IRA
2.80%$500-48 Month CESA
2.75%$1k-36 Month IRA
2.75%$500-36 Month CESA
2.65%$1k-24 Month IRA
2.65%$1k-30 Month IRA
2.65%$500-24 Month CESA
2.65%$500-30 Month CESA
2.65%$1k-18 Month IRA
2.65%$500-18 Month CESA
2.10%$1k-12 Month IRA
2.10%$500-12 Month CESA
2.10%$1k-15 Month IRA
2.10%$500-15 Month CESA
1.65%$1k-22 Month IRA
1.25%$1k-9 Month IRA
1.25%$500-9 Month CESA
1.20%$1k-6 Month IRA
1.20%$500-6 Month CESA
1.00%$1k-3 Month IRA
1.00%$500-3 Month CESA
Locations

Availability



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