Teachers Federal Credit Union

What Teachers Federal Credit Union does

Teachers Federal Credit Union is a federally chartered, not-for-profit, member-owned credit union founded in 1952 by Long Island educators and headquartered at 102 Motor Parkway, Hauppauge, New York. It operates under an open charter that allows anyone in the United States to join, serving 474,000+ members across all 50 states through 33 full-service branches concentrated in New York (Long Island, Queens, Manhattan) and Florida (Naples, Lake Mary). The credit union is NCUA-insured (NMLS #401530), governed by a volunteer Board of Directors chaired by Timothy M. Southerton, and led by President and CEO Brad C. Calhoun.

Its core business is retail and small-business banking delivered through a platform-plus-modules architecture: deposit products (Smart Checking up to 2.50% APY, Share Draft Checking, savings, money market, IRAs, certificates), lending (mortgages, HELOCs at 3.99% APR, vehicle loans at 5.04% APR, personal loans, commercial real estate, business lines of credit), credit cards, and ancillary services (Teachers Investment Services, TruStage Insurance, wire transfers, safe deposit boxes). Digital channels include iOS and Android mobile apps, online banking, Card Controls, Bill Pay, Quick Pay, Express Pay, and digital wallet support (Apple Pay, Google Pay, Samsung Pay). Revenue is generated primarily through net interest income on the ~$10B asset base, supplemented by transaction fees (overdraft at $32/item, Express Pay $4.95, phone payments $16.50) and insurance referral commissions. Distribution combines a regional physical branch network with nationwide access to 55,000+ Allpoint ATMs and 5,400+ Credit Union Service Centers.

In 2026, Teachers FCU launched Precision CUSO, a joint venture with Corridor Platforms that sells AI-driven credit decisioning tools to other credit unions, representing a strategic move from consumer-only member services into B2B technology. Recent operational moves include the May 2026 headquarters renovation with a dedicated Innovation Lab, Florida branch expansion (Naples 2025, Lake Mary April 2026), and a Holbrook, New York branch opening in November 2025. The credit union also runs a substantial community engagement program, donating $1.6M to 120 nonprofits in 2025 and raising over $3M for Children's Miracle Network since 2023.

Name

Teachers Federal Credit Union

Legal name

Teachers Federal Credit Union

Website

https://teachersfcu.org

Company type

Private

Founded year

1952

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Teachers Federal Credit Union is a not-for-profit, member-owned credit union founded in 1952 that serves over 474,000 members across all 50 states with personal and business banking, mortgages, auto loans, and credit cards delivered through 33 branches and digital platforms.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (52213), Credit Unions (522130)

SIC

Savings Institution, Federally Chartered (6035), Personal Credit Institutions (6141)

akta.pro primary industry

Community Credit Unions (Retail/Consumer Focus) (FSABAEAA)

akta.pro secondary industries

Credit Cards & Revolving Credit (FSABAAAC), Federations/Centrals & Cooperative Banking Networks (2nd-Tier Co-ops) (FSABAEAL)

Keywords

• Retail banking services
• Consumer lending
• Mortgage financing
• Business banking
• Credit union services

Headquarters

HQ city

Farmingville

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Interest Income: Primary revenue stream from interest on loans including mortgages, auto loans, personal loans, and credit cards. As a not-for-profit credit union, interest income is returned to members through better rates on loans and higher yields on savings.
2. Fee-based Services: Various fee-based services including wire transfers, overdraft privileges ($32 per item), Express Pay convenience fees ($4.95), phone payments ($16.50), safe deposit box rentals, and other banking service fees.
3. Insurance Partnerships: Revenue through TruStage Insurance partnership providing auto, home, life, and AD&D insurance products to members

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels7 records

Core offering

Teachers Federal Credit Union is a not-for-profit, member-owned financial institution offering a comprehensive suite of banking products and services. Core offerings include personal deposit accounts (checking, savings, money market, IRAs, certificates), consumer lending (mortgages, HELOCs, auto loans, personal loans, credit cards), business banking products (business checking, savings, commercial real estate loans, lines of credit, vehicle financing), and digital banking services (online and mobile banking, bill pay, digital wallets). The credit union also distributes insurance products via TruStage and offers investment services.

Product overview

Teachers Federal Credit Union operates as a full-service, not-for-profit financial institution offering a comprehensive suite of banking products through both a platform-plus-modules architecture and direct service delivery. The core banking platform encompasses personal and business deposit accounts (checking, savings, money market, IRAs, certificates), lending products (mortgages, HELOCs, personal loans, vehicle loans, commercial real estate), and credit cards. Digital banking services including Online Banking, Mobile Banking, Bill Pay, and Card Controls serve as the primary digital access channels. Ancillary services include investment services, TruStage insurance products, wire transfers, safe deposit boxes, and fraud prevention tools. The Precision CUSO platform represents a strategic AI-enabled offering developed in partnership with Corridor Platforms for industry-wide credit decisioning solutions. The institution serves members across all 50 states through 33 full-service branches and comprehensive digital channels.

Differentiator

Problem solved

Functional benefit

Products and services

• Smart Checking High-yield personal checking account offering up to 2.50% APY, earning 14x the national average with no minimum balance requirements. Designed for individual consumers seeking competitive interest on deposits.
• Share Draft Checking Basic personal checking account with no opening deposit, no minimum monthly balance, no monthly fee, and no per-check charges. Targeted at individual consumers.
• Personal Savings Account Personal savings account including Share Savings with competitive rates for individual members seeking to grow deposits.
• Money Market Account Personal savings product offering higher interest rates for larger balances with limited transaction capabilities. For individual consumers seeking higher yields on deposits.
• Individual Retirement Accounts (IRAs) Traditional, Roth, and SEP IRA options for retirement savings targeted at individual consumers.
• Certificate Accounts (CDs) Certificate accounts with competitive fixed rates for fixed-term savings, offering guaranteed returns over specified periods for individual members.
• Personal Credit Cards Credit card products including rewards cards with competitive rates and flexible rewards programs for personal use by individual consumers.
• Mortgage Center Comprehensive mortgage services including fixed-rate mortgages, adjustable-rate mortgages, jumbo mortgages, and a Smart Mortgage Program for lower credit score borrowers. Targeted at individual homebuyers.
• Home Equity Line of Credit (HELOC) Home equity line of credit offering rates as low as 3.99% APR, allowing members to access home equity for flexible financial needs. Targeted at homeowners.
• Personal Lending Personal loans for various needs including debt consolidation, home improvements, and unexpected expenses with competitive rates for individual borrowers.
• Vehicle Loans Auto loan financing with rates as low as 5.04% APR for new and used vehicle purchases through a streamlined application process for individual consumers.
• Business Checking Business checking account designed for business banking needs with tools for managing business finances. Targeted at small and mid-sized businesses.
• Business Savings Business savings account for managing business reserves with competitive interest rates for small and mid-sized business customers.
• Business Money Market Business money market account offering higher yields on larger business deposits for commercial customers.
• Business Certificates Business certificate accounts for fixed-term business savings with guaranteed returns for commercial clients.
• Business Credit Card Credit card product designed for business spending with expense management features for commercial customers.
• Commercial Real Estate Loans Commercial mortgage financing for business properties including office, retail, and industrial real estate. Targeted at business borrowers.
• Business Vehicle Financing Commercial vehicle loans for business fleet purchases and equipment financing for business borrowers.
• Business Line of Credit Revolving credit line for business working capital and short-term financing needs of commercial borrowers.
• Closed End Business Loan Term loans for specific business financing needs with fixed repayment schedules for commercial borrowers.
• Teachers Investment Services Financial management services offering one-on-one assistance for investment planning, retirement planning, and financial education workshops for individual members.
• TruStage Insurance Products Insurance products including Auto Insurance, Life Insurance, Home Insurance, and Accidental Death & Dismemberment (AD&D) coverage offered through TruStage Insurance Agency, LLC to credit union members.
• Precision CUSO Credit Union Service Organization platform providing AI-driven automated credit approval and decisioning tools to credit unions nationwide, enabling adoption of AI capabilities without building specialized teams. Joint venture with Corridor Platforms.
• Wire Transfer Services Domestic and international wire transfer services for sending and receiving funds to and from other financial institutions, available to members.
• Safe Deposit Boxes Secure storage service for important documents and personal items available at select branch locations with various box sizes for individual members.

Quantifiable outcome

• Smart Checking earns 14x the national average APY
• +3 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

AI capability5 records

Feature4 records

Partnerships

Ten partnerships are on record, tiered core, flagship and minor.

• Corridor PlatformscoreTechnology or Integration · 4 March 2026Joint venture to launch Precision CUSO providing AI-driven automated credit approval and decisioning tools to credit unions nationwide. Enables credit unions to adopt AI capabilities without building large specialized teams, combining innovation with governance and transparency.
• Corridor PlatformscoreStrategic or Co-development Partner · 26 February 2026Intention to launch Precision CUSO for AI-driven credit decisioning technology to credit unions nationwide. Platform enables automation, decision workflow streamlining, and data-driven insights supporting member engagement and compliance.
• TruStage InsurancecoreGTM or Marketing PartnerTruStage Insurance Agency provides insurance products including auto, home, life, and AD&D insurance to Teachers members with potential discounts. Backed by over 80 years of credit union partnership experience.
• Children's Miracle Network HospitalsflagshipOthersPrimary charity partner since 2023. Raised over $3 million total including $1.1 million in 2026 through annual golf tournament, the largest benefiting CMN in the Northeast. Funds support children's hospitals nationwide for patient care, equipment, and family support.
• American Cancer SocietyflagshipOthersPresenting Sponsor of Making Strides Against Breast Cancer walks in Long Island and Eastern Long Island, Silver Sponsor for Tampa Bay and Southwest Florida. Raised over $180,000 in 2025 and $650,000+ since 2021.
• Paws of WarcoreOthersNonprofit supporting U.S. veterans, first responders, and rescued animals. Awarded $25,000 during 2025 Season of Giving campaign.
• Johns Hopkins All Children's HospitalcoreOthersPediatric hospital receiving $15,000 donation during 2025 Season of Giving to support pediatric care and research.
• Long Island Cares, Inc.coreOthersFood bank organization addressing hunger and food insecurity on Long Island, awarded $10,000 during 2025 Season of Giving.
• For A Bright Future FoundationminorOthers501(c)(3) nonprofit supporting educational access for underserved students. Teachers FCU became a sponsor for the Spotlight on Giving fundraiser in April 2026 in New York City.
• GreenPath Financial WellnessminorOthersFinancial wellness resources and calculators linked on Teachers FCU website to support member financial education.

Scale indicators12 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• SchoolsFirst Federal Credit Union: Large educator-focused federal credit union with full-service banking. Comparable to Teachers FCU's founding constituency and similar not-for-profit member-owned structure serving a defined professional community.
• Navy Federal Credit Union: The largest U.S. credit union, federally chartered, with a similarly broad product suite (deposits, mortgages, credit cards, business banking) and a nationwide member base. Closest functional analogue to Teachers FCU's open-charter national model.
• Bethpage Federal Credit Union: Long Island-headquartered federal credit union — a direct geographic and demographic peer. Offers the same full suite of consumer and business banking products, and competes for the same Long Island/NY member base.
• Alliant Credit Union: Open-charter, digitally focused national credit union serving members across all 50 states. Highly comparable in distribution philosophy (digital-first with limited branches) and member-acquisition model.
• Security Service Federal Credit Union: Large federally insured credit union offering the full banking suite including mortgages, auto loans, and business banking. Comparable member-owned not-for-profit operating model.
• PenFed Credit Union (Pentagon Federal Credit Union): Large federally chartered, open-membership credit union with a comparable product set including mortgages, auto loans, credit cards, and a strong digital platform. Highly comparable on scale and national reach.
• Golden 1 Credit Union: One of the largest U.S. credit unions (~$20B in assets), federally insured, offering consumer and business banking, credit cards, and a strong digital channel. Comparable scale and product breadth.
• Connexus Credit Union: Growing national open-charter credit union with digital banking, consumer lending, mortgages, and member-acquisition marketing — comparable growth orientation to Teachers FCU.

Broad incumbents

• Ally Bank: Direct/digital bank competitor for the same nationwide retail deposit and consumer lending customers Teachers FCU targets via its open charter. Larger asset base and pure digital model.
• Discover Financial Services: Direct bank and major credit card issuer competing for the same retail deposits, credit card balances, and personal loans. A broader incumbent in the consumer credit space where Teachers FCU also competes.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/tfcu
• Facebookfacebook.com/teachersfcu
• LinkedInlinkedin.com/company/211166
• Instagraminstagram.com/teachersfcu

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Teachers Federal Credit Union