Teachers Federal Credit Union to relocate in Farmingville, taking over shuttered TGI Fridays
A rendering of a new Teachers Federal Credit Union planned for Farmingville in 2026. Credit: Teachers Federal Credit Union
Teachers Federal Credit Union will open a new branch across the street from its current location in Farmingville, in a shuttered TGI Fridays, in the second half of 2026, company officials said.
The existing Farmingville branch will remain open across the street during the design and construction of the new location, a company spokesperson said. The bank has maintained a presence in Farmingville for more than 46 years and the relocation is meant to offer members "a central, highly accessible space."
"Farmingville has played a meaningful role in the Teachers Federal Credit Union story, and this investment reflects our ongoing commitment to the community,” Brad Calhoun, the credit union's president and CEO, said in an emailed statement.
The credit union founded by Long Island educators operates 30 branches across the region, serving more than 467,000 members across the country with over $9.9 billion in assets.
Work on the new space will involve "a comprehensive interior and exterior transformation" that includes building areas for member service, private offices, meeting spaces and security infrastructure, the company said, with an eye toward a "welcoming, inviting" design.
"While the building’s previous use is quite different, its size, location and anchor tenants make it the right location for our future Farmingville branch," said spokeswoman Michaela Cruciani.
Besides the opening of a new bank, the relocation represents Long Island moving on after losing several TGI Fridays in recent years as the company has tried to stay afloat.
The fast-casual eatery filed for bankruptcy last November, citing "financial challenges" caused by the pandemic and the company's "capital structure." Two remaining TGI Fridays in New York are open in Islip and Valley Stream.
The company did not immediately respond to a request for comment.
Brianne Ledda covers personal finance and affordability for Newsday. She previously covered Southold and Greenport for The Suffolk Times and is a graduate of Stony Brook University.
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