About The Teachers Federal Credit Union

Teachers Federal Credit Union

Teachers’ federal credit union as the name signifies is the credit union specifically for teachers or precisely for people who are in teaching profession. It provides banking and financing services for the teachers. Teachers’ federal credit unions run under the authority of the Credit Union National Association. There is no central teachers’ federal credit union. The teachers’ federal credit union has many features which encourage their preference over banks.

Teachers’ Federal Credit union vs. Banks

There is similarity in functioning of the Teachers’ federal credit union (TFCU) and banks but TFCU have many discrete features which makes it different from a bank. In TFCU, a lower fee is associated with the opening of checking and savings accounts. One of the major differences between credit unions and banks is that since credit unions are non-profit organizations owned by members it provides better rates and low operating costs.

Benefits of Teachers' Federal Credit Union

Teachers’ federal credit union offers many benefits. One who joins credit union can have access to loans and financing options which are created keeping teachers in mind. TFCU provides accounts that are much cheaper to maintain in comparison to regular banks. Teachers find it more beneficial in all aspects as compared to banks.

Things to be considered

The most important thing that one needs to know before joining the teachers’ federal credit union is that what kind of the identification is required to open an account. Work ID as proof of employment is accepted at most places. It is also required to decide whether you need an ATM access or not.

More Secured

Mostly people have a misconception that federal credit unions are less secure than traditional banks. This is not the true as federal credit unions are nonprofit, so there are rare chances for their branches to be closed. Therefore, these are more secured as compared to banks.

Teachers’ Federal Credit Union also has other features like:-

New Online Banking Login Instructions

Easy Electronic Payments with ACH

Payday Loan Alternative Now Available

Additional TFCU Branches Now Accepting Mortgage Applications