Information
About
Tinker Federal Credit Union (TFCU) is a credit union based in Oklahoma City, Oklahoma. It was founded in 1946 as Tinker Air Force Base Federal Credit Union and later changed its name to Tinker Federal Credit Union. TFCU has grown to become one of the largest credit unions in the United States, with over 400,000 members and $5 billion in assets.
TFCU offers a variety of financial products and services to its members, including checking and savings accounts, loans, credit cards, insurance, and investment services. It also provides a range of online and mobile banking options, as well as access to over 5,000 shared branches and 30,000 surcharge-free ATMs across the United States.
TFCU is dedicated to serving its members and community, and has established the Tinker Federal Credit Union Foundation to support charitable organizations and initiatives in the communities it serves. TFCU also offers financial education and counseling services to help members achieve their financial goals.
Requirements
Tinker Federal Credit Union (TFCU) has membership eligibility requirements based on several factors, including:
Employment. Members must be employed by one of TFCU's partner organizations, including Tinker Air Force Base, the Department of Defense, and several other select employer groups.
Family. Immediate family members of existing TFCU members are also eligible to join the credit union.
Geography. Individuals who live, work, worship, or attend school in certain Oklahoma counties are also eligible to become members.
To become a member of Tinker Federal Credit Union, individuals must open a savings account with a minimum deposit of $5.
Pros and Cons
Pros
- Membership eligibility. TFCU offers a variety of affiliations for membership, including those who live, work, worship, or attend school in specific counties in Oklahoma and Texas. Additionally, family members of existing TFCU members may also be eligible to join.
- Wide range of financial products and services. TFCU offers checking and savings accounts, loans, credit cards, insurance, and investment services to its members, giving them many options to meet their financial needs.
- Low fees and competitive rates. TFCU is known for its low fees and competitive rates, which can help members save money and maximize their financial resources.
- Convenient access. TFCU has an extensive network of branches and ATMs throughout its service area, providing easy access to accounts and financial services.
- Community involvement. TFCU is committed to giving back to the communities it serves through financial education programs, community events, and charitable giving.
Cons
- Membership restrictions. TFCU has specific membership eligibility requirements, which may limit some individuals from becoming members.
- Limited geographic footprint. TFCU primarily serves Oklahoma and select counties in Texas, which may make it difficult for those outside these areas to use its financial products and services.
- Limited branch hours. Some TFCU branches may have limited hours of operation, which could be inconvenient for members who need to conduct transactions in person outside of typical business hours.
- Limited customer support. Some members have reported difficulty in reaching customer service representatives or obtaining assistance when needed.
- Limited mobile app functionality. The credit union's mobile app may be limited in its functionality, which could be frustrating for members who rely heavily on mobile banking.
Products
Tinker Federal Credit Union offers a wide range of products and services to its members, including:
- Checking accounts. TFCU offers several checking account options, including a free checking account, a rewards checking account that earns interest and provides cashback on debit card purchases, and a student checking account with no minimum balance requirement.
- Savings accounts. TFCU provides various savings account options, including a regular savings account, money market accounts, club accounts, youth savings accounts, and certificates of deposit (CDs). Some accounts offer competitive interest rates and low minimum balance requirements.
- Loans. TFCU offers a variety of loan products, including auto loans, personal loans, home loans, and credit cards. The credit union offers low rates and flexible repayment terms.
- Insurance. TFCU offers a range of insurance products, including auto insurance, home insurance, and life insurance, to help protect members' financial well-being.
- Investment services. TFCU offers investment services through its subsidiary, TFCU Financial Advisors. These services include financial planning, retirement planning, and investment management.
- Business services. TFCU provides a range of business services, including checking and savings accounts, merchant services, and business loans to support the growth and success of local businesses.
- Online and mobile banking. Members can access their accounts online and through the TFCU mobile banking app, which allows them to view account balances, make transfers, and pay bills. They can also deposit checks, apply for loans, and manage their finances on-the-go.
Overall, Tinker Federal Credit Union offers a comprehensive range of financial products and services to its members, with a focus on low fees, competitive rates, and personalized support.
Access on the Go
Tinker Federal Credit Union offers a variety of options for accessing accounts and managing finances on the go, including:
Online banking. Members can access their accounts online through TFCU's website, where they can view account balances, transfer funds, pay bills, and more.
Mobile banking. TFCU offers a mobile app for iOS and Android devices, which allows members to access their accounts, deposit checks, pay bills, transfer funds, and more.
Mobile deposit. Members can deposit checks into their accounts using their mobile devices and the TFCU mobile app.
Text banking. TFCU offers text banking services, which allow members to check account balances, transfer funds, and receive account alerts via text message.
Telephone banking. Members can access their accounts and perform transactions over the phone by calling TFCU's 24-hour telephone banking service.
Overall, Tinker Federal Credit Union provides a variety of convenient options for accessing accounts and managing finances on the go, making it easy for members to stay on top of their finances no matter where they are.
Which associations the TFCU belongs to?
Tinker Federal Credit Union is a member of several associations, including the Credit Union National Association (CUNA), the Oklahoma Credit Union Association (OCUA), the Defense Credit Union Council (DCUC), and CO-OP Financial Services.
Terms and Conditions
It is important to note that the company does not have a general set of terms and conditions for its loans. In the "loans" section of their website, you can find an example of loan funding and repayment scenario for each loan type specifically. The APRs and terms vary depending on the customers' credit history and requested amount. For instance, with a personal unsecured loan, you can borrow under $10,000 with APR ranging from 9.9% to 16.9% and for no longer than 60 months. Secured loans can amount to $35,000 on 3.7% to 13.4% APR and be repaid in 10 years. Vehicle loans generally have lower APR that can vary from 2.3% to 11.4% and repayment terms of up to 84 months. The APR and term length, in this case, is determined not only by the customers' credit history but also by the vehicle's year model. The loans mentioned above and most loans offered by TCFU have fixed annual percentage rates.
Funding a Loan
TFCU loans are typically disbursed to the client's TFCU account after the loan is approved. The funds can either be accessed immediately or with a two-day delay - it depends on the type of check deposited. For holders of new accounts, there are special rules that apply to withdrawing funds during the first 30 days the account is open.
Electronic direct deposit funds are available on the day of the deposit. The first $5,525 of a day's total deposits of cashiers, certified, teller's, traveler's, and federal, state, and local government checks will be available on the day after your deposit. Anything that exceeds $5,525 will be available on the 9th business day after the deposit.
