X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Teachers Federal Credit Union President/CEO Robert Allen likes to tell all of his employees what the last line of his job description is: “Keep everyone from getting bored.”

That’s why Allen decided, in part, to compete for and won NCUA’s bid to purchase the $1.1 billion Melrose Credit Union and its estimated $412 million consumer, residential and commercial loan portfolio, which he negotiated without acquiring its massive and troubled taxi medallion portfolio that led to Melrose’s demise. Along with the Melrose acquisition and adding nearly 20,000 of its members to Teachers’ membership of 300,541, the $6 billion Hauppauge, N.Y. cooperative will be opening three new branches and relocating another on the mostly affluent suburb of Long Island over the next five months.

Peter Strozniak

Dig Deeper

Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now

Copyright © 2018 ALM Media Properties, LLC. All Rights Reserved.