Teachers Federal Credit Union

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 28th largest credit union in the nation. It was established in 1952 and as of March of 2022, it had grown to 812 employees and 414,861 members at 32 locations. Teachers Federal Credit Union 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 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

Teachers Federal Credit Union Ups 60-Month CD Rate - 4/15/2022

Teachers Federal Credit Union (easy membership) 60-month CD continues to have near-rate leading APY offered on nationally available 5-year CDs (min $50k or less).

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Reviews (8)

A great banking choice

I have had an account with Teachers Federal Credit Union for about 4 years now. I joined after being burnt from low rates and fees at other banks. Teachers Federal Credit Union hits the mark in several categories. First, its web and mobile banking products are comparable to other bigger banks. It has great usability, dedicated servers, and a great overall app and website design that makes looking up pertinent information quite easily. The fees at this bank are entirely reasonable fees. There are no hidden fees associated with any accounts, unlike several of the big banks. I have been treated very well every time I have visited the branch in person. The tellers were friendly and very helpful with any problems I had associated with my accounts. The interest rate is the best you will get for a savings or checking account currently compared to most of the bigger banks. Overall, I had and continue to have a pleasant experience using this bank. I will probably continue to use this bank in the forseeable future. The accounts give good interest rates, no hidden fees, friendly helpful atmosphere with a competitive website that's easy to use. There is no reason to use a big bank currently when credit unions exist and are this reliable.

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.

Amazing Credit Union in the Long Island Area

Posted by: |

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.

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.

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 - YTD0.96%
Return on Equity - YTD11.43%
Annual Interest Income$62.3MM
Assets and Liabilities
AssetsQ1 2022vs Q1 2021$8.87B$8.71B
LoansQ1 2022vs Q1 2021$5.32B$5.10B
DepositsQ1 2022vs Q1 2021$7.99B$7.83B
Equity CapitalQ1 2022vs Q1 2021$745.5MM$742.3MM
Loan Loss AllowanceQ1 2022vs Q1 2021$42.1MM$34.2MM
Unbacked Noncurrent LoansQ1 2022vs Q1 2021$16.7MM$12.2MM
Real Estate OwnedQ1 2022vs Q1 2021$0$0

Rates for Teachers Federal Credit Union are currently being reviewed.



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