TODAY'S PAPER
Good Morning
Good Morning
Business

TFCU acquires credit union for Nikon USA employees

Teachers Federal Credit Union's corporate headquarters in Hauppauge.

Teachers Federal Credit Union's corporate headquarters in Hauppauge. Credit: Teachers Federal Credit Union

Teachers Federal Credit Union has acquired Projector Federal Credit Union, a small financial firm that has provided banking services for Nikon USA employees for nearly 50 years.

TFCU, a Hauppauge-based credit union with more than $6 billion in total assets and over 300,000 members, will add Projector Federal’s more than 100 members with more than $500,000 in deposits to its operations. 

“We are working with PFCU management to ensure the seamless transition for all new members,” Robert G. Allen, chief executive and president of TFCU said in a statement. “We have dedicated staff working with them and available to answer any questions.”

PFCU has only one location and is based in Nikon USA’s headquarters in Melville.

“This merger will provide the membership with the best financial products and services available in the market today and into the future,” Karen Gerold, president of PFCU said in a statement.

CORRECTION: An earlier version of this story used out of date statistics on the size of TFCU.

More news