Teachers Federal Credit Union is headquartered in Hauppauge and is the 2nd largest credit union in the state of New York. It is also the 25th largest credit union in the nation. It was established in 1952 and as of December of 2022, it had grown to 871 employees and 443,434 members at 33 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
5/27 - Teachers Federal Credit Union Has New Member Bonuses Up To $400
5/4 - Teachers FCU Increases Rates For Its 18 Month To 60 Month Cds (IRAs Included)
4/15 - Teachers Federal Credit Union Ups 60-Month CD Rate
2/11 - Teachers Federal Credit Union Boosts 60-Month CD Rate Again
1/14 - Teachers Federal Credit Union Has Rate-Leading 60-Month CD
1/12 - TFCU - “limited time promotional rates for the 30 month and 48 month certificates
3/27/19 - Teachers Federal Credit Union 3.00% APY 36 Month Certificate
1/16/19 - TFCU 36-Month CD - 3.05% APY
9/25/18 - Teachers Federal Credit Union Boosts 30-Month CD Rate
9/19/18 - Teachers FCU 30-Month Certificate Earns 3.00% APY for Regular and IRA
3/31/18 - TFCU - 30-Month CD Special - 2.50% APY
12/11/17 - Teachers FCU (NY) Hikes 30-Month CD
10/23/17 - Teachers FCU - CD & IRA Rate Hikes
10/2/17 - Teachers FCU - 16-Month CD Special 1.65% APY
6/12/17 - Teachers FCU (NY) Adds 15-Month CD Special
10/6/14 - Teachers Federal CU (Long Island) Very Competitive 18-month CD Special
1/9/10 - 2.50% 16-Month Jumbo CD Continues at Teachers Federal Credit Union in New York - Local Only
12/5/09 - 2.40% 16-Month Jumbo CD at Teachers Federal Credit Union in New York - Local Only
8/4/09 - 2.50% 16-Month CD at Teachers Federal Credit Union in New York - Local Only
5/11/09 - Competitive Jumbo Money Market and CD Rates at Teachers FCU in New York
4/1/09 - 2.75% 6-Month Jumbo CD at Teachers Federal Credit Union in New York
2/2/09 - 3.25% 6-Month Jumbo CD at Teachers Federal Credit Union in New York
3/22/08 - 4.00% 8-Month CD at a New York CU - Jumbo (Teachers).
IRA Customer Service
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
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.
Data as of Q4 2022
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 8116 |
| Year Chartered | 1952 |
| Employees | 871 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.81% |
| Return on Equity - YTD | 9.95% |
| Annual Interest Income | $286.5MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2022vs Q4 2021 | $9.28B$8.80B |
| Loans | Q4 2022vs Q4 2021 | $6.22B$5.24B |
| Deposits | Q4 2022vs Q4 2021 | $7.77B$7.90B |
| Equity Capital | Q4 2022vs Q4 2021 | $748.6MM$800.1MM |
| Loan Loss Allowance | Q4 2022vs Q4 2021 | $46.6MM$39.1MM |
| Unbacked Noncurrent Loans | Q4 2022vs Q4 2021 | $41.3MM$19.2MM |
| Real Estate Owned | Q4 2022vs Q4 2021 | $0$0 |
