Teachers Federal Credit Union


Founded in 1952, TFCU is a not-for-profit, member-owned financial institution which exists to serve our members. TFCU provides personal financial services to more than 265,000 members and with roughly $5 billion in assets, we are one of the largest credit unions in the country. TFCU offers financial services to all people and businesses located on Long Island, in Nassau and Suffolk Counties.

As a Credit Union, we put our members first. The end result is a financial institution that has personal service, lower rates on auto loans, Credit Cards and Mortgages, and a home-grown approach. Fun legal stuff: TFCU does not sell or rent our mailing list or provide any third-party access to your personal information. Your e-mail address is used solely for the TFCU e-mail list. For details on our e-mail practices, please see our TFCU Privacy Policy for more information.

Loan Features

Auto Loan
TFCU makes borrowing easy. Loan pre-approval, payroll deduction, phone-a-loan service, online applications and competitive interest rates make TFCU the place to finance all your vehicle needs.

RV Loan
TFCU makes borrowing easy. Whether you’re looking to buy a new or used Recreational Vehicle, flexible rate and terms are available:

Lease-Like Auto Financing
Balloon Financing is like a lease, except that you actually own the vehicle. You can finance anywhere from 24-60 months and then have a balloon note to pay at the end of the term. At the end of the balloon contract, you can either finance the balance at current used auto rates or sell the vehicle to pay off the balance. The balloon payment amount must be equal to 90% of residual value per Auto Lease Guide (ALG), and loan request must exceed ALG residual value amount.

Boat Loan
Whether you’re looking to buy a new or used boat, flexible rates and terms are available.

Motorcycle Loans
TFCU makes borrowing easy. Loan pre-approval, payroll deduction, phone-a-loan service, online applications and competitive interest rates make TFCU the place to finance all your vehicle needs.

Personal Loan
TFCU can provide you with the cash you need…fast! A Signature Loan is an unsecured personal loan. It’s not secured by the equity in your home (such as in a home equity loan) or by some other personal property or asset (such as a car loan). We have affordable Signature Loans for up to $20,000.

Savings Secured Loans
TFCU can provide you with the cash you need… FAST! With a Savings Secured Loan, borrow up to 80% of the available shares on deposit in your primary Savings Account.

Education Loans
We all know the cost of higher education is ever increasing. At TFCU, we’d like to help make the dream of a college education a reality.

Alternative Student Loan
Alternative Student Loans help bridge the gap between the actual cost of your education for Undergraduate and Graduate students and the limited amount the government allows you to borrow. Loan amount will be calculated by taking the cost of attendance less financial aid. Repayment begins 30 days after the loan is disbursed and you have 15 years to repay this loan.

Payday Loans
Teachers Federal Credit Union offers short term, small amount (STS) loans as a viable alternative to predatory high-cost payday loans that are offered by other financial service providers. If you’re currently using a check cashing facility or a payday lender, TFCU’s new STS Loan may be a better option. Not only will you receive the short term funds you need, you’ll also be building your credit profile.

Membership: Minimum of 1 month membership is required
Dollar amount: Minimum $200; Maximum $1,000

Energy Assistance Loan
The high cost of home heating energy has many people concerned, so TFCU is offering Energy Loans to see you through the home heating season. This loan is available October 1 through March 31.

Vacation Loan
You Deserve a Summer Vacation! Everyone needs to take a break. Time to kick back, relax and regroup At TFCU we want you to have the opportunity to do just that. From June 1 to August 31, we are offering members the opportunity to apply for a TFCU Vacation Loan.
5.00% Annual Percentage Rate
Minimum loan: $250
Maximum loan: $3,000
up to 24 months

Holiday Loan
Start Planning for the Holidays! Get extra funds for shopping, traveling, home improvements, or anything else you need to make the holiday season a merry one. This Holiday Loan is available from October 1 through December 31.

Mortgages & Home Equity
You can apply for a mortgage from the comfort of your own home using TFCU’s convenient online application. Our helpful and friendly mortgage experts can help guide you through the application process. Stop in, say hello, and let us help you get financing towards your dream home!

Business Line of Credit
A business line of credit gives your business access to cash, whenever you need it, up to a pre-specified amount. The main advantage of a line of credit is flexibility. Funds will always be available to you, when you need them, but you pay no interest until you draw on the line. This makes a line of credit an excellent resource to have at your disposal in case of an emergency. Your line can be secured or unsecured, with multiple repayment options, and a variable interest rate.

A business line of credit is great for a variety of ongoing or short-term financing needs. Use the funds to improve your cash flow, purchase inventory, materials and equipment. Revolving credit lines are also very useful to use as overdraft protection on a business checking account.

Closed End Loan
Finance machinery and equipment or get a term loan for working capital for your business. TFCU will give you an initial disbursement of funds that can be used for financing one-time expenditures.

SBA Express
Designed for existing small businesses in need of working capital, equipment or inventory financing or any other financing needs a business may have. One year business longevity required for SBA Express loans or lines of credit. TFCU is your one-stop business lending source. Through our partnership with the US Small Business Administration (SBA) and its guaranteed loan program, TFCU is approved to offer SBA Express Business loans and business lines of credit to our members.

Less paperwork for you to fill out
Faster loan approvals
Quicker access to the funds you need
Fixed interest rates on term loans
Adjustable rates on lines of credit up to a seven (7) year term
SBA loans can be used to provide working capital for a business that can be used to purchase necessary machinery, equipment, supplies or inventory

SBA 7a Loan
TFCU will provide business financing for business acquisitions, business startups and businesses seeking capital for any other financing needs a business may have.

TFCU is your one-stop business lending source. Through our partnership with the US Small Business Administration (SBA) and its guaranteed loan program, TFCU is approved to offer SBA 7a loans to our members.

Startup businesses are eligible to apply
Financing can be provided for business acquisitions
Flexible loan terms available
Fixed interest rates on term loans

Business Credit Card
The card designed in your best interest can help you manage all your business expenses better, and you’ll enjoy more travel opportunities with your TFCU Visa Business Credit Card.

Business Vehicle Financing
You can apply for Business Vehicle Financing for a business vehicle that will be titled and registered in your businesses name. Loan terms can be up to seven years for all vehicle loans based on credit approval.

Commercial Mortgages
Finance commercial real estate purchases or refinances. If you want to purchase a shopping center, office building, medical condominium, or any type of commercial real estate, TFCU can provide you with a commercial mortgage with flexible terms. This loan is similar to a residential mortgage, except the collateral is a commercial building, not a residential property.

Application Process

To apply for a personal loan from Teachers Federal Credit Union, you’ll need to be a member. Membership is open to those who reside, work or attend school in Long Island’s Nassau or Suffolk counties.

To apply, you’ll need to provide:

Your drivers license or other form of ID.
Your previous home address, if you’ve lived at your current address fewer than two years.
Your Social Security number.
A credit card, debit card or checking or savings details to fund the account.
Proof that you’re a permanent US resident.
Your credit score, income and other factors play a role in the terms of your loan, but specific qualifications depend on how much you want to borrow and how long you need to pay it back.

To be eligible for a loan:
You should be employed or have a consistent income.
You should have decent credit with a history of on-time payments.

Repayment Terms

Minimum Loan Amount $250
Maximum Loan Amount $20,000
Loan Term 2-5 years
APR 10.45%

Customer Support

+1 631-698-7000

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