Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
CU provides 38M in value benefits to members
HAUPPAUGE, N.Y. (7/23/12)--Teachers FCU (TFCU), based in Hauppauge, N.Y., with $4 billion in assets, announced TFCU members received more than $38.76 million in direct financial benefits during 2011.

TFCU said the statistics are from the Membership Benefits Report, recently published by the Credit Union National Association (CUNA).

Those benefits are equivalent to $179 per member or $340 per member household. Also, CUNA estimates that TFCU provided each loyal high-use member household $1,449 in direct financial benefits during 2011.

The report compared TFCU's dividend rates, loan rates and fees to those of banking institutions in the state.  It combines those comparisons with TFCU's call report data to develop an overall estimate of the annual financial benefits TFCU provides members.

"TFCU excels in providing member benefits on many loan and savings products," the CUNA report said. "In particular, TFCU offers lower loan rates on the following accounts: new car loans, used-car loans, personal unsecured loans, first-mortgage fixed-rate loans, first-mortgage adjustable-rate loans, home equity loans and credit card loans. TFCU also pays its members higher dividends on the following accounts: regular savings, money market accounts, certificate accounts, and individual retirement accounts (IRAs). "

"Across New York state and the nation, members have access to over 4,500 locations, a number greater than or equal to many of the nation's largest banks," said Robert Allen, TFCU president/CEO. "The CUNA analysis confirms TFCU's commitment to quality services in spite of the lagging economic climate of 2011."


RSS print
News Now LiveWire
#Iowa Housing Authority honors #creditunion's mortgage commitment #NewsNow http://t.co/97me6ziPFa
10 hours ago
Adams to Zimmerman: Don't let your name define your financial decisions via @ndn http://t.co/kPVgQaDFNo
13 hours ago
Calif. ride-sharing law protects #creditunion collateral #NewsNow #System http://t.co/kXAAmbQgKO
14 hours ago
New offices mean moving sale at @TheKCUA https://t.co/xaof5SJkmE
15 hours ago
Existing-home sales slump in August as cash purchases decline @REALTORS
16 hours ago