16 March 2022
Celent and CUNA Recognize Teachers Federal Credit Union
Teachers Federal Credit Union is excited to announce significant industry recognition by way of recent awards from Celent and the Credit Union National Association (CUNA).
A Celent Model Bank Award winner and the first credit union to win a Model Bank of the Year Award, Teachers is recognized for its recent digital banking transformations that provide members with a number of new services including an online account opening portal, upgraded mobile application functionality, and the addition of an Appointment Banking tool.
Member response to these improvements has been positive, with a 16% increase in the number of registered digital members and over 15,000 members served via appointment since implementation. Teachers proudly increased its Digital Net Promoter Score (NPS) to 80.17 by the end of 2021, serving as another example of how Teachers’ Smart For All mission continues to drive an elevated experience for members, no matter where they live or how they choose to bank.
In addition, Teachers has been awarded two CUNA Diamond Awards for its efforts to promote member communication and education. In the Member or Trade Publication/Newsletter category, Teachers’ monthly member newsletter won for its easily digestible format and timely financial information. Smart Loans Make Better Homes, a video series highlighting how Teachers’ mortgage products and financial education resources help members at each step of their home buying and homeownership journey, won for Video (Non-Commercial) - Series.
“We are committed to meeting our members when and how they want to bank,” said Teachers Federal Credit Union Chief Growth and Strategy Officer, Alex de la Cruz. “So we’re grateful to be recognized by these two prominent organizations as we continue to develop new innovative methods that elevate how our members bank, learn, and reach financial success with Teachers.”
“It’s an honor to be recognized for our collective efforts to bring the best banking experience to Teachers members nationwide,” said Teachers Federal Credit Union Chief Technology Officer, Suresh Renganathan.
To learn more about the award-winning ways that Teachers Federal Credit Union supports its members, visit www.teachersfcu.org.
ABOUT TEACHERS FEDERAL CREDIT UNION:
Teachers Federal Credit Union (Teachers) is one of the country’s largest credit unions with $8.8 billion in assets and more than 380,000 members across all 50 states. Founded on Long Island in 1952, Teachers is a full-service, not-for-profit financial institution that provides members with 32 full-service branches throughout Long Island, Queens and Manhattan, as well as access to services at more than 5,000 shared service centers located across the country. Over the years and through various partnerships, Teachers has been proud of its role as a key supporter of the communities it serves. Teachers offers a range of member-focused products with competitive rates and low fees that started as a smart solution for teachers - now smart for all. For more information visit www.teachersfcu.org.
ABOUT THE CELENT MODEL BANK AWARD
Celent’s annual Model Bank Awards recognize the best practices of technology usage in different areas critical to success in banking. Nominations are submitted by financial institutions and undergo a rigorous evaluation process by Celent analysts. Celent judges submissions on three core criteria: demonstrable business benefits of live initiatives; the degree of innovation relative to the industry; and the technology or implementation excellence. Information on the Celent Model Bank Award is available at:
https://www.celent.com/awards/model-bank
ABOUT CUNA
Credit Union National Association (CUNA) is the only national association that advocates on behalf of all of America’s credit unions, which are owned by 120 million consumer members. CUNA, along with its network of affiliated state credit union leagues, delivers unwavering advocacy, continuous professional growth and operational confidence to protect the best interests of all credit unions. For more information about CUNA, visit cuna.org.
