In Review: Teachers Federal Credit Union (Teachers FCU)

Updated: Jan 8

“Selected an Excellent Choice Credit Union, Teachers Federal CU (TFCU) has a long history of providing great service in the areas Long Island, Queens, and Manhattan."


By: Allan R Kirby

Mysmallbank.com review of Teachers Federal Credit Union. Teachers Federal CU

We review Credit Unions:


Mysmallbank.com feels compelled to find the best credit unions and community banks to write a small review. These reviews are to help you learn more about community banking, possibly one that's in your area that you might be interested in. In this review we are choosing the following local Credit Union:

Name: Teachers Federal Credit Union

Location: Hauppauge

Headquartered: 102 Motor Pkwy, Hauppauge, NY 11788.

Branches: 32

Year Established: 1952


Review:


Teachers, Federal Credit Union is one of the larger credit unions found in the United States with a total of 32 branch locations throughout Long Island, Queens, and Manhattan and a long history of providing great financial services in the communities they serve. Our decision to name TFCU Union, Excellent Choice Credit Union, was based on our own set of criteria such as; research on reviews, services offered as well as their commitment to their membership and the communities they serve. What we found was a great community credit union with lots of service offerings while only asking $1 to join them and just $1 for a minimum opening balance.


Teachers Federal Credit Union currently has just over $8 billion in assets, 32 branches, and nearly 350,000 members. ibanknet. Additionally, they have a history of providing services to their members since the Credit Union's founding in 1952.


"Our Review of Teachers Federal Credit Union highlights that credit unions can excelle in large urban centers and compete directly with the major banks."

When we started reviewing TFCU we quickly found that this is a well-run credit union with very few negative reviews relative to the over 350,000 members. Additionally, the very few problems or concerns we found were client-specific and did not reflect the true experience you will receive with the credit union. In fact, our review confirmed to us that members at Teachers Federal Credit Union rated their experience much higher than clients do at the major banks.


Teachers Federal CU does not stop at providing great personal banking services to their members, they also have a wide array of service offerings available to local businesses which include: Business banking, loans, credit cards, and even reduced rates on cloud hosting services! Specifically, Teachers Federal Credit union has partnered with Newtek Business Services to provide businesses with business web services, with: Only pay for what you use and Access to 24/7/365 U.S.-based support via phone, email, or live chat.


"Hauppauge is a hamlet in the towns of Islip and Smithtown in Suffolk County, New York, United States. The population was 20,882 as of 2010"

The following highlights some of the specific products and services Teachers FCU provides its members as well as their commitment to their community.


Teachers Federal CU Credit Cards:


When looking at some of Teacher Credit Unions we liked their complete line of credit card offerings which includes the Visa Cash Back, Visa Secured, Visa Low Interest, Visa Student, and the:


The Teachers Visa Platinum Card


This is a great credit card with competitive rates, no annual fees, and everyday rewards.


Benefits:

  • Low, competitive rates

  • Discover Credit Union credit cards with high limits – the Teachers Visa Platinum gives you the highest possible credit limit ($2,500 - $25,000), plus the prestige of Platinum.

  • You'll be automatically enrolled in our exclusive Score Card program that awards you points every time you use your Platinum Card.

  • Choose from a wide range of merchandise items in the Visa Score Cards Rewards catalogue, or redeem your points for Visa Travel Rewards.


Youth Savings Accounts


We always love to see credit unions focusing on younger generations and Teachers Federal Credit Union does not disappoint. The credit union provides a Youth Savings account to help those under 18 learn about money management. They have a highly competitive rate of 3% on the first $1,000 deposited!


Details of the Youth savings account from Teachers Federal:

  • Savings account for minors only, ages up to 18.

  • 3.00% APY.

  • Only a $1 balance is required to open an account.

View details


Commitment to Community:


The Teachers Federal Credit Union has a Scholarship Program that provides

a total of $25,000 in scholarships to ten winners!


To be eligible, the student must a member of the TFCU and:


Graduate from high school in Spring 2021

Have a minimum GPA of 3.5

Attend an accredited college in Fall 2021 as a full-time student

Be a member in good standing with a savings and checking account.


2021 Robert G. Allen Scholarship Program


TFCU has another scholarship program for members in honor of the former Teachers CEO and President, Robert G. Allen. This program consists of five $2,500 scholarships.


Excellent Choice Credit Union:


With high customer satisfaction, great service offerings, and their long-standing commitment to their community it's not hard to see why this is such a great credit union. This is why Mysmallbank.com believes Teachers Federal CU is well deserved to receive the designation of Excellent choice, Credit Union [2]. So if you're looking for a great community-based credit union and you live or plan to live in the Long Island, Queens, and Manhattan areas where Teacher Federal CU operates, this could be a great financial institution for you.


Finally, we found that Teachers Federal CU is a federally insured credit union through NCUA [1].

Who is Eligible:


As per their website: Teachers Federal CU is a not-for-profit, member-owned financial institution, membership is easy. TFCU now offers financial services to all people and businesses. There are no restrictions!


Become a Teachers member and the credit union will help you switch from your old financial institution to a free Teachers savings and checking account for only $1!


Apply Now to become a member.

The following provides additional information on Teachers FCU services, branches as well as fees.


Services Offered:


Full-Service Credit Union: Yes

Part of the CO-OP Shared Branch network: Yes

Teachers Federal Credit Union Routing Number: 221475786


Personal Banking:

  • Checking

  • IRAs

  • Money Market

  • Savings

Teachers FCU Loans:

  • Mortgages

  • Personal Lending

  • Vehicle Loans

Credit Cards Visa


Business Banking:

  • Business Checking

  • Business Certificates

  • Business Money Market

  • Business Savings

Teachers FCU business loans:

  • Business Credit Card

  • Closed-End Loan

  • Commercial Mortgages

  • Line of Credit

  • Vehicle Financing

Teachers FCU Online

Online and Mobile Banking: Yes


Teachers FCU Branch Location:


Central Islip Branch

South of Motor Parkway

118 Wheeler Rd

Central Islip, NY 11722

631-698-7000

Nesconset Branch

Nesconset Plaza

127 Smithtown Blvd

Nesconset, NY 11767

631-698-7000

Smithtown Branch

Bank Ave & Rte 25

1 West Main St

Smithtown, NY 11787

631-698-7000

Hauppauge Branch

102 Motor Parkway

Hauppauge, NY 11788

631-698-7000

Oakdale Branch

951 Montauk Highway

Oakdale, NY 11769

631-698-7000

Holbrook Branch

5439 Sunrise Highway

Holbrook, NY 11741

631-698-7000

Kings Park Branch

742 Route 25A

Kings Park, NY 11754

631-698-7000

Commack Branch

10 Vanderbilt Parkway

Commack, NY 11725

631-698-7000

South Setauket Branch

260A Pond Path

S.Setauket, NY 11720

631-698-7000

Bay Shore Branch

1360 Sunrise Hwy

Bay Shore, NY 11706

631-698-7000

Selden Branch

Middle Country Rd

301 Independence Plaza

Selden, NY 11784

631-698-7000

Farmingville Branch

2410 North Ocean Ave

Farmingville, NY 11738

631-698-7000

East Northport Branch

556 Larkfield Rd

East Northport, NY 11731

631-698-7000

Patchogue Branch

31 West Main St, Suite 23

Patchogue, NY 11772

631-698-7000

North Babylon Branch

1134 Deer Park Ave

N.Babylon, NY 11703

631-698-7000

(Check location for hours of service