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Teachers Federal Credit Union

Popular Accounts at this Credit Union

1.90%5-year CD60 Month CD
0.60%1-year CD12 Month CD
0.10%SavingsShare Savings

Overview / Commentary
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 23rd largest credit union in the nation. It was established in 1952 and as of June of 2016, it had grown to 550 employees and 263,639 members at 26 locations. Teachers Federal Credit Union's money market rates are 14% higher than the national average, and it has an A health rating.

Field of Membership Restrictions

Membership in Teachers Federal Credit Union is open to those who live, work, attend school, regularly conduct business, or worship in Nassau County or the Towns of Huntington, Babylon, Smithtown, Islip, Brookhaven, Riverhead, Southold, or the Poospatuck Reservation in Suffolk County, New York.
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Reviews (4)

Amazing Credit Union in the Long Island Area

Posted by: John2 | Jun 2, 2014

Teachers Federal Credit Union is a great bank and institution. Their tellers are always friendly and professional and I have never had a bad experience going into one of their many branches throughout Long Island. Teachers products are not only incredibly competitive but also very comprehensive covering all of your personal financing needs. I would highly recommend this company to both family and friends.

TFCU's outstanding assistance

As I was a student in Long Island, where this credit union is operating, I was in a financial hardship and did not have access to credit due to the fact that I had no credit history. Major banks were not willing to work with me in this regard. I approached a TFCU branch and explained my situation. They were able to help me by offering me a low credit limit card with a nominal monetary deposit. This came in hand, and after 6 months of on time payments, they contacted me and offered to refund my deposit and increased my credit limit 2-fold.

What was also great about TFCU is that they had a representative operating on campus! Along with a 24/7 ATM machine that charges no fees to use it. I recommend TFCU for anyone in my situation who is just starting out.

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.

Horrible At Protecting Members Accounts

In Feb. 2015 I filled a dispute with my bank teachers federal credit union in the amount of $1200.00+ they told me my card was present at the time of the sale at some type of furniture store or warehouse in question. So they could no file it as fraud they would have to file it as a merchant dispute and that can take up to 200+ days. As of 3 days ago they finally answered back to me with the respond of my claim has been denied. So I called them and asked them why has my claim been denied and if I can speak with there ATM department. they could not give me a answer and said no I could not speak with anyone for the ATM department. Then they go on to tell me my documents submitted did not support my claim. Which does not make any sense at all because the transaction was fraud I never been to the merchant, so I tell them can you provide me with a receipt or even a invoice from the merchant if its not fraud as your claiming. They said after making me wait 6 months no we do not have to provide you anything. Now please tell sense when is a consumer not entitled a right to documents proving that something is not fraud of the financial institutions investigation of the claim. I have revived No documentation that they ever pursued the claim and made me wait 6 months for what they are just as responsible for stealing my money as the merchant is. They are issuing visa debit card but are not following visa's dispute resolution basics. due to the fact that I have still not acquired a copy of the sales receipt that is needed for this so called particular transaction.


Health Grade Components

NCUA #8116
Year Chartered1952
Primary Regulator
Profit Margin
Return on Assets - YTD0.5%
Return on Equity - YTD4.97%
Annual Interest Income$61.0MM
Assets and Liabilities
AssetsQ2 2016vs Q2 2015$5.42B$5.21B
LoansQ2 2016vs Q2 2015$2.79B$2.43B
DepositsQ2 2016vs Q2 2015$4.86B$4.67B
Equity CapitalQ2 2016vs Q2 2015$536.3MM$507.9MM
Loan Loss AllowanceQ2 2016vs Q2 2015$22.3MM$24.6MM
Unbacked Noncurrent LoansQ2 2016vs Q2 2015$11.4MM$12.3MM
Real Estate OwnedQ2 2016vs Q2 2015$357.00K$640.00K
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* 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

0.10%$50-Share Savings
0.10%$50-IRA Savings
0.10%$50-Holiday Club
0.10%--Coverdell Education Savings Account
0.10%$50-Vacation Club

Teachers Federal Credit Union Money Market Rates

0.50%*$500k*-Tiered Money Market
OTHER TIERS: 0.30% $2,500 - $25k | 0.35% $25k - $50k | 0.45% $50k - $500k

Teachers Federal Credit Union Checking Account Rates


Teachers Federal Credit Union CD Rates

1.90%$1k-60 Month CD
1.40%$1k-48 Month CD
1.30%$1k-36 Month CD
1.25%$1k-24 Month CD
1.25%--30 Month CD
1.20%$1k-18 Month Share Certificate Special
1.00%$100k-16 Month Jumbo CD
1.00%$1k-16 Month CD
0.60%$100k-12 Month Jumbo CD
0.60%$1k-12 Month CD
0.55%$100k-8 Month Jumbo CD
0.45%$100k-6 Month Jumbo CD
0.45%$1k-6 Month CD
0.35%$100k-3 Month Jumbo CD
0.35%$1k-3 Month CD
0.30%$100k-1 Month Jumbo CD
0.30%$100k-2 Month Jumbo CD

Teachers Federal Credit Union IRA Rates

1.90%$1k-60 Month IRA
1.90%--60 Month CESA
1.40%$1k-48 Month IRA
1.40%--48 Month CESA
1.30%$1k-36 Month IRA
1.30%--36 Month CESA
1.25%$1k-24 Month IRA
1.25%--30 Month IRA
1.25%--24 Month CESA
1.25%--30 Month CESA
1.20%$1k-18 Month IRA Special
1.00%$1k-16 Month IRA
1.00%--16 Month CESA
0.60%$1k-12 Month IRA
0.60%--12 Month CESA
0.45%$1k-6 Month IRA
0.45%--6 Month CESA
0.35%$1k-3 Month IRA
0.35%--3 Month CESA

Teachers Federal Credit Union has 26 locations. Click to view all Teachers Federal Credit Union locations.