Good Afternoon
Good Afternoon

Teachers Federal hiring 50 people as expansion continues

Robert G. Allen, president and CEO of Teachers

Robert G. Allen, president and CEO of Teachers Federal Credit Union, on Dec. 19, 2013. Credit: Audrey C. Tiernan

Teachers Federal Credit Union is looking for about 50 good people.

Long Island's second-largest credit union is midway through a 100-job hiring campaign begun in May, president and chief executive Robert G. Allen said. The hiring reflects a combination of expansion, replacement of retirees, summer interns and the switch-over to a new mainframe computer system, he said.

The Hauppauge-based credit union usually has about 20 jobs open at a given time from normal turnover, Allen said.

"This is a larger, one-shot number," he said of the 50 mostly entry-level openings. "We're trying to get ahead of routine turnover -- trying to build in some lead time for the time it takes to interview, hire and train people." Teachers has about 650 employees now.

Available part-time and full-time jobs on Teachers' website include assistant supervisor of teller operations, hardware technician, mortgage originator, receptionist and trust and financial services coordinator. The company also has open call-center and teller positions.

Only eight jobs were listed on the website this week because the company has been flooded with applications, which now are being reviewed, said a spokeswoman.

Meanwhile, Teachers is slowly expanding its branch network -- now at 25 locations.

"We've always been very conservative but we're targeting a couple a year," Allen said.Allen estimates he'll open 10 new branches in the next five years but said he has no plans to go any farther west than the Nassau-Queens border and no farther east than Riverhead, where it has a branch now.

"The population there is less dense," he said of the East End. "The opportunity for new business is going to be greater in an area of denser population." The new branches will be about half the size of the 4,000-square-foot branches opened in past years, he said, as more customers conduct routine banking online.

"The need for the walk-in business has dropped substantially," Allen said.

The last new branch, at 4250 Jerusalem Ave. in North Massapequa, opened April 3 and was Teachers' second in Nassau county. The other branches are in Suffolk.

Teachers' growth plans are typical of those of large credit unions, said Alan Theriault, president of CU Financial Services of Portland, Maine, a consulting firm for credit unions. While many smaller ones are struggling to meet costly new federal banking regulations and keep up with changes in technology, "there are a lot of [larger] credit unions trying to implement strategies like that," Theriault said. "They're all reading the same playbook."

Teachers was founded on Long Island in 1952 and now has more than $5 billion in total assets and more than 245,000 members. The slightly larger Bethpage Federal Credit Union has about $6 billion in assets and 252,000 members.

More news