July 6, 2024


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Teachers Federal Credit Union has multiple CD options available for you. Here's TFCU's current CD rates.

Teachers Federal Credit Union (TFCU) offers its members a wide range of CD terms from 3 months to 60 months. More importantly, the rates on some terms are very competitive.

It is also the second largest credit union in New York by asset size with about $9.8 billion in assets.[1] Luckily, becoming a member of TFCU is easy.

Interested in opening a CD with TFCU? To start, here are Teachers Federal Credit Union's current CD rates.

What interest rate do you consider attractive for opening a new CD?

What CDs Are Available at Teachers Federal Credit Union?

Teachers Federal Credit Union offers three different CDs or certificates that you can choose from. Here are the types of CDs at TFCU: [2]

  • Standard Certificates: Regular CD with a $1,000 minimum
  • Jumbo Certificates: Jumbo CD with a $100,000 minimum
  • IRA Certificates: Tax-advantaged CDs with a $1,000 minimum

Read on to know how each CD differs, and their rates.

TFCU CD Features Overview
CDs AvailableStandard, Jumbo, IRA
Minimum Deposit$1,000 to $100,000
Terms3 months to 5 years
Interest PaymentsCompounded daily, paid monthly or quarterly
Early Withdrawal PenaltyTerms 1 year or less: the lesser of all interest earned or 7 days' worth of interest if earned interest is less than 7 days
Terms between 1 year and 2 years: the lesser of all interest earned or 180 days' worth of dividends or interest
Terms over 2 years: the lesser of all interest earned or 270 days' worth of dividends or interest
Grace Period7 days
Federally InsuredYes, NCUA-insured

What is the most important factor for you in selecting a CD?

Teachers Federal Credit Union Share Certificate Rates: Up to 4.75%

Terms APY Earnings
3 Month3.50% $8.64
6 Month4.25% $21.03
9 Month4.75% $35.42
12 Month4.00% $40.00
13 Month4.00% $43.40
15 Month4.50% $56.56
16 Month3.00% $40.20
18 Month3.00% $45.34
22 Month3.75% $69.82
24 Month3.75% $76.41
30 Month3.25% $83.24
36 Month3.25% $100.70
48 Month3.25% $136.48
60 Month3.25% $173.41

Teachers Federal Credit Union's standard CDs offer up to a good 4.75% APY. CD terms range from 3 months to 60 months or 5 years.

It has a $1,000 minimum deposit, and a costly withdrawal penalty if you close it before maturity.

Is a share certificate better than a CD?
A share certificate is a CD offered by a credit union instead of a bank. Share certificates may offer higher rates because credit unions are not-for-profit and run by members. But, online banks can also give impressive CD rates.

Teachers Federal Credit Union Jumbo Certificate Rates: Up to 4.25% APY

Terms APY Earnings
1 Month4.00% $32.74
2 Month4.00% $65.58
3 Month3.50% $86.37
6 Month4.25% $210.29
8 Month4.25% $281.36
12 Month4.00% $400.00
16 Month3.00% $401.99

For those who can deposit more, Teachers Federal Credit Union also has Jumbo Certificates. The rates are not far off from their standard CDs, though the minimum deposit is at least $100,000.

The available term options range from 1 month to 16 months only, making it a good option for those seeking short-term CDs with competitive rates.

Early withdrawal penalties also apply, so make sure you're okay with locking-up a large amount of money for some time.

Teachers Federal Credit Union IRA Certificate Rates: up to 2.90%

3 Month1.00% $24.91
6 Month1.20% $59.82
9 Month1.25% $93.60
12 Month2.10% $210.00
15 Month2.10% $263.19
18 Month2.65% $400.12
22 Month1.65% $304.58
24 Month2.65% $537.02
30 Month2.65% $675.72
36 Month2.75% $847.90
48 Month2.80% $1,167.93
60 Month2.90% $1,536.58

If you're thinking about adding CDs to your retirement savings, check out Teachers Federal Credit Union's IRA Certificates. They offer CDs with the same term options of 3 months to 60 months. These can also be opened as traditional and Roth IRAs.

However, their IRA CD rates are not as high as what they offer on their standard CDs.

Teachers Federal Credit Union also offers Coverdell Education Savings Accounts or CESA CDs if you want to park money for your kids' college education in a tax-advantaged CD.

Which CD term length are you most interested in?

How Teachers Federal Credit Union CDs Compare

Fees and Penalties

Withdrawing your TFCU certificate early can be costly, you can lose all the interest you earned on the CD. So, if you want maximum returns on your CD, try not to withdraw before it matures.

Here are Teachers Federal Credit Union's applicable CD early withdrawal penalties:

  • Terms 1 year or less: the lesser of all interest earned or 7 days' worth of interest if earned interest is less than 7 days
  • Terms between 1 year and 2 years: the lesser of all interest earned or 180 days' worth of dividends or interest
  • Terms over 2 years: the lesser of all interest earned or 270 days' worth of dividends or interest

Depending on the CD term you choose, you may have no choice but to lose your interest earnings (and maybe some of your principal) to early withdrawal penalties.

Teachers Federal Credit Union certificates are automatically renewed, and you get a 7-day grace period to withdraw your money to avoid incurring early withdrawal penalties.[3]

Can I withdraw money from Teachers Federal Credit Union CD?
Like most CDs, you usually cannot withdraw early from your TFCU certificate. But, you can withdraw interest or dividend payments without facing penalties if you make arrangements beforehand.

Pros and Cons


  • Competitive rates
  • Multiple CD options
  • No monthly service fees
  • Membership open to anyone
  • IRA CDs available
  • Federally insured; NCUA member


  • Must be a member to open
  • Minimum deposit to open
  • Early withdrawal penalties

Teachers Federal Credit Union Membership Eligibility

To be a Teachers Federal Credit Union member, you need to open either a Smart Checking or a Share Draft Checking account. Or, you can open a Personal Savings account with just $1. [4]

Note that you need to be a member before you can open a CD at Teachers Federal Credit Union. The good news is membership is open to any U.S. resident and you can easily apply online.

How to Open a TFCU CD

Members of Teachers Federal Credit Union can open a CD or certificate in three ways:

  • Complete an application on their website
  • Visit any of their branches
  • Call their support line at 1-800-341-4333

Are credit union share certificates safe?
Share certificates, like CDs, are federally insured for up to $250,000 if your credit union is an NCUA member. So your money is safe in a share certificate, just like in any CD.

How to Withdraw Upon Maturity

Teachers Federal Credit Union CDs renew automatically, but they will send you a notification at least 30 days before it matures. You can also check your account disclosures for the maturity date.

Here are what you can do when your CD matures:

  • Close the CD and withdraw all funds
  • Add deposit to the CD or withdraw a part of the CD
  • Change the CD term
  • Automatic renewal

After your TFCU CD matures, you have a 7-day grace period. Make sure to contact the credit union before this period ends. If not, you may face early withdrawal penalties afterward.

How do I contact Teachers Federal Credit Union?
You can call Teachers Federal Credit Union at 1-800-341-4333 or log in to their Online Banking to use Chat Now. They can be reached from Mondays to Fridays 8:00 a.m. to 6:00 p.m. or Saturdays 8:30 a.m. to 4:30 p.m. You can also visit any of their branches in Long Island, NY, for in-person assistance.

Other Teachers Federal Credit Union Accounts

You might not need a CD with Teachers Federal Credit Union. But here are other banking products they offer that might be worth a look at:

  • Teachers Personal Savings Account
    Start saving with Teachers Federal Credit Union with just $1 and you can easily be a member. The minimum balance is also $1 but to earn interest, you need to maintain at least $50. [5]

  • Teachers Personal Checking Account
    This serves as a TFCU's free checking account with no opening deposit, no minimum balance, no per-check charges, and no monthly fees. But, it will only earn interest if you have at least $2,500 in the account. [6]

  • Teachers Smart Checking Account
    This high-yield checking account pays good interest on balances up to $15,000. But, if you have more, you earn a lower APY. You must meet any of the following requirements to qualify for the higher rate: [7]
    • Average monthly balance of $5,000 in your Smart Checking account
    • $20,000 in combined end-of-month deposit balances
    • Do direct deposit(s) of $500 or more and make 10 debit card purchases each month

  • Teachers Money Market Account
    The Teachers Money Market account gives you a higher rate depending on your deposit balance. The minimum balance to earn interest starts at $2,500 up to $500,000, leaving you with 6 balance tiers to reach. [8]

Is a credit union better than a bank?
Depending on your financial needs and preferences, either could be better. Credit unions are member-owned and not-for-profit, so they often offer lower fees and better interest rates. But banks may have more services, products, and a larger branch network you can work with.

Bottom Line

Teachers Federal Credit Union offers competitive CD rates, although not all terms have the best APY. Joining TFCU is also easy for U.S. residents—simply open a savings account with just one dollar. After that, accessing their CDs and other products is a breeze.

However, for sky-high rates, some online banks or other credit unions might have better offers. Ultimately, you need to decide what institution and CD will suit you best.


  1. ^ National Credit Union Administration. Credit Union and Corporate Call Report Data, Retrieved 01/01/2024
  2. ^ Teachers Federal Credit Union. Discover Our Competitive Rates, Retrieved 03/14/2024
  3. ^ Teachers Federal Credit Union. Truth in Savings Disclosure Share and IRA Certificate, Retrieved 03/18/2024
  4. ^ Teachers Federal Credit Union. Become A Member, Retrieved 03/14/2024
  5. ^ Teachers Federal Credit Union. Personal Savings, Retrieved 03/14/2024
  6. ^ Teachers Federal Credit Union. Personal Checking, Retrieved 03/14/2024
  7. ^ Teachers Federal Credit Union. Smart Checking, Retrieved 04/05/2024
  8. ^ Teachers Federal Credit Union. Money Market Account, Retrieved 03/14/2024

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Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content. You do not have to use our links, but you help support CreditDonkey if you do.

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