Teachers Federal Credit Union Opens Hauppauge Branch, Offices

Teachers Federal Credit Union is celebrating the grand opening of its new state-of-the-art headquarters and tellers branch in Hauppauge off Motor Parkway.

TFCU purchased the six-story building at 102 Motor Parkway in Hauppauge in 2010 to meet the expanding service needs of the credit union's growing individual and member base. It hired several Hauppauge-based and local businesses to renovate the first, fifth and sixth floors of the building for TFCU's use.

"We outgrew the Farmingville location a number of years ago. When we spilled over we put up a building on Sunrise Highway in Holbrook," said TFCU president and CEO Robert G. Allen. " We needed more room. This will increase our efficiency as we have people from three locations back under one roof again."

Allen said TFCU made the conscious effort to hire construction workers from local construction unions and The Workplace Group, a corporate furnishing company, to help make-over the 200,000-square-foot-building. Nearly 250 of the credit union's 600 employees will work out of the new Hauppauge headquarters.

TFCU has experienced rapid growth at the end of 2011, according to Allen, largely due to Occupy Wall Street and Bank Transfer day. The president said through November and December of 2011 the credit union's new membership growth had increased by more than 30 percent.

Allen said he expects the company to keep growing. When Allen joined TFCU in 1988, the credit union had approximately $250 million in assets. In 2012, TFCU now has over $4 billion in assets with more than 220,000 members and 23 branches.

TFCU's new headquarter was dedicated in honor of Allen, and his contribution to the credit union. A plaque was presented to him by TFCU Board Chairman Fred Schaefer.

"The remarkable growth of the TFCU can be attributed to the foresight, determination and commitment of Bob Allen. His leadership of the credit union since 1988 has been extraordinary and accounts for the credit union's emergence as a highly respected financial institution here on Long Island, throughout the state and across the nation," Schaefer said.

Allen said as the credit union continues to grow, the new headquarters will provide TFCU with space to expand and continue the gradual process of hiring employees.